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| 1Q10 | BBVA Group highlights | Group information | Risk and economic capital management | Business areas | Corporate responsibility |
Customer funds
(Million euros)
Customer funds on balance sheet
Deposits from customers
Domestic sector
Public sector
Other domestic sectors
· Current and savings accounts
· Time deposits
· Assets sold under repurchase agreement and other
Non-domestic sector
Current and savings accounts
Time deposits
Assets sold under repurchase agreement and other
Debt certificates
Mortgage bonds
Other debt certificates
Subordinated liabilities
Other customer funds
Mutual funds
Pension funds
Customer portfolios
Total customer funds
On-balance-sheet funds grew by 0.3% year-on-year
to €371 billion at the close of the first quarter of
2010. Customer deposits performed well, at €255
billion, thanks to non-domestic items (+12.6% in the
last twelve months), which increased their year-on-year
growth compared to the close of 2009 (+4.3%), and
to the lower-cost domestic funds, such as current and
savings accounts, with a rise of 2.7% in the same
period. However, time deposits continued to fall,
given that BBVA is not engaging in aggressive price
campaigns. The bank maintains a good liquidity
position and thus focuses on profitable business
management rather than the mere gathering funds.
Marketable debt securities fell 9.9% to €98 billion.
Subordinated liabilities increased 2.0% to €18 billion.
Off-balance-sheet customer funds, i.e. mutual funds,
pension funds and customer portfolios, amounted to
€142 billion at the close of the first quarter of 2010,
an increase of 15.7% on the €123 billion 12 months
Relevant events
Earnings
Business activity
Capital base
The BBVA share
31-03-10 Δ%
31-03-09
31-12-09
371,116 0.3 370,045 371,999
255,301 4.7 243,795 254,183
90,424 (7.1) 97,326 97,486
3,889 (27.2) 5,345 4,296
86,535 (5.9) 91,980 93,190
45,247 2.7 44,055 47,381
31,786 (19.3) 39,364 35,135
9,502 11.0 8,562 10,675
164,877 12.6 146,469 156,697
65,939 13.1 58,293 63,718
90,774 11.3 81,542 88,114
8,164 23.1 6,634 4,865
98,240 (9.9) 109,021 99,939
38,577 (0.3) 38,676 35,833
59,663 (15.2) 70,345 64,106
17,575 2.0 17,230 17,878
142,055 15.7 122,762 137,105
49,241 5.7 46,579 47,415
68,926 32.4 52,056 63,189
23,888 (1.0) 24,127 26,501
513,171 4.1 492,807 509,104
earlier. This positive performance is due to the
favorable effect of the campaigns launched in the
commercial network, particularly in pension funds, as
well as the performance of the markets, which have
once more boosted assets under management. The
part corresponding to the domestic market is worth
€62 billion, 3.0% up year-on-year. Of this figure,
€32 billion are mutual funds, a fall of 7.1% over the
last 12 months. However, the Group continues to
maintain its position of leadership as the biggest
mutual fund manager in Spain, with a market share
at the close of March of 18.9%, 182 basis points
more than its closest competitor. Pension funds
continue to perform well, at €17 billion, an increase
of 9.8% over the same period. Customer portfolios
were up 26.3% to €13 billion. Off-balance-sheet
funds in the rest of the world also performed well,
with an increase of 28.1% on the figure at 31-03-09
to €80 billion. There was a notable increase in both
pension funds (+42.4%) and mutual funds (+41.6%).
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