Total lending to other domestic sectors
(gross) (Billion euros)
172 191 189
March
March
March
2007 2008 2009
increase is 5.0%). It should be noted that this increase
occurred steadily throughout 2008 in a sustained
manner. Therefore, compared to the end of last year, the
above figure is practically unchanged (down 0.7%).
Of total lending to domestic customers in Spain, the
public sector accounts for €18 billion (up 11.0%
year-on-year) and loans to the domestic private sector
were down 1.2% to €189 billion, compared to €191
billion at 31-Mar-08. This situation is due to the general
downward trend of lending in the whole sector, which
particularly affects commercial loans (down 33.9%
year-on-year). Secured loans are the main component of
domestic lending and they maintained the same level as
the first quarter last year (€105 billion).
Non-performing assets in the domestic private sector
came to €6,889m, compared to €1,847m a year earlier.
This is in line with the adverse economic conditions but
lower than the average for the overall system.
Lending to non-resident customers in Spain rose 15.8%
to €133 billion at 30-Mar-09 compared to €115 billion
a year earlier. BBVA Portugal plus the branches in
Europe, New York and Asia, and in most Latin-American
countries, especially Mexico, Peru, Chile, Venezuela,
Paraguay and Uruguay, contributed to this growth with
double digit increases.
Customer funds
Total customer funds on and off the balance sheet came
to €493 billion at 31-Mar-09, an increase of 1.3%
compared to €486 billion a year earlier.
Customer funds on the balance sheet continue to
outperform (as they did throughout 2008), rising 8.8%
year-on-year to €370 billion. Of this figure, customer
–1.2%
Detail of total lending to other domestic
sectors (gross) (Percentage)
Secured
loans
Other
loans
deposits account for €244 billion (up 9.8%).
Marketable debt securities account for €109 billion (up
6.3%) and subordinate liabilities account for €17
billion (up 10.1%).
Customer funds off the balance sheet, which comprise
mutual funds, pension funds and customers’ portfolios,
came to €123 billion at the end of the quarter. It
dropped 16.1% compared to the figure of €146 billion
a year earlier. These variations were affected by the
sharp decline in the markets during the last 12 months,
which has lowered the value of mutual funds and
customer portfolios. However, there are signs of
improvement because, compared to the balance at
31-Dec-08, these funds have in fact increased 3.0%. The
domestic market accounts for €61 billion (down 15.0%
year on year). On the other hand the decline is less than
that of the sector average, owing mainly to the greater
proportion of more conservative types of funds. Outside
Spain these off-balance-sheet funds fell 17.1% to €62
billion, compared to €75 billion at 31-Mar-08. At
31-Mar-08 the Consolidar AFJP pension funds in
Argentina (now nationalised) and the Miami branch
(now sold) contributed €3,516m and €697m,
Customer funds
(Billion euros)
Other
customer
funds
Customer
funds on
balance sheet
54.5
45.5
March
2007
143
323
1Q09 GROUP INFORMATION
Business activity
55.2 55.9
44.8 44.1
March
March
2008 2009
466 486 493
146 123
340 370
March
March
March
2007 2008 2009
(1) At constant exchange rate: +2.4%.
+1.3% (1)
15
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