Note 27 - Share premium

12 Months Ended

Dec. 31, 2019

Share Premium Abstract

Disclosure Of Share Premium Explanatory

27. Share premium

As of December 31, 2019, 2018 and 2017, the balance under this heading in the accompanying consolidated balance sheets was €23,992 million.

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 (see Note 26).