6-K

Banco Bilbao Vizcaya Argentaria, S.A.

Date: January 24, 2014

/s/ Ricardo Gómez Barredo

Name: Ricardo Gómez Barredo

Title: Global Head of Group Accounting and
Information Management

0001193125-14-020498.txt : 20140124 0001193125-14-020498.hdr.sgml : 20140124 20140124170006 ACCESSION NUMBER: 0001193125-14-020498 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140124 FILED AS OF DATE: 20140124 DATE AS OF CHANGE: 20140124 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 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10110 FILM NUMBER: 14546579 BUSINESS ADDRESS: STREET 1: PASEO DE LA CASTELLANA, 81 CITY: MADRID STATE: U3 ZIP: 28046 BUSINESS PHONE: 011 34 91 537 8172 MAIL ADDRESS: STREET 1: PASEO DE LA CASTELLANA, 81 CITY: MADRID STATE: U3 ZIP: 28046 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 6-K 1 d663369d6k.htm 6-K 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January, 2014

Commission file number: 1-10110

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(Exact name of Registrant as specified in its charter)

BANK BILBAO VIZCAYA ARGENTARIA, S.A.

(Translation of Registrant’s name into English)

Paseo de la Castellana, 81

28046 Madrid

Spain

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ¨ No x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ¨ No x

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby communicates the following:

RELEVANT INFORMATION

In order to facilitate the understanding of its underlying financial performance, starting in the fourth quarter of 2013, BBVA will reclassify the income statement as presented for informational purposes in its quarterly report to isolate the impacts of the corporate transactions completed in the last two years. For such purposes, a new income statement line item called “net income from corporate transactions” will be created.

This new line item will include:

•

The former line item “net income from discontinued operations”, which included the capital gains from the sale of the mandatory pension fund administrators in Chile, Colombia, Mexico and Peru, as well as the ordinary income generated from these businesses prior to the sale.

•

The gains of the reinsurance agreement on the individual life and accident insurance portfolio in Spain.

•

The extraordinary results from investments and divestments: Unnim, BBVA Panama and BBVA Puerto Rico.

•

The losses from the partial sale and mark-to-market of CNCB stake, as well as all past income from the equity method, net of dividends received from CNCB, which will be included in the corporate center. As CNCB changes its accounting treatment from equity method to available for sale, the dividends received will be reported within gross income in Eurasia.

The purpose of the reclassification is to facilitate the understanding of BBVA’s underlying financial performance and does not affect the financial statements of the BBVA Group as reported in its regulatory filings. A reconciliation of these financial statements will be provided in the quarterly report.

For an easier comparative analysis of our upcoming 2013 fourth quarter results, please find attached a new set of restated income statements going back 7 quarters as well as a table detailing the reclassifications.

Madrid, January 24, 2014

Annex 1: Impact of the reclassifications in the consolidated income statements


				2013												2012
	9M13			3^rd Quarter			2^nd Quarter			1^st Quarter			2012			4^th Quarter			3^rd Quarter			2^nd Quarter			1^st Quarter
Income by the equity method
CNCB Income by the equity method		(356	)		(153	)		(153	)		(51	)		(686	)		(169	)		(172	)		(169	)		(176	)
Dividend Income
Dividends From CNCB		129			—			129			—			136			—			—			136			—
Other gains and losses
Extraordinary results from Unnim and Puerto Rico		—			—			—			—			(361	)		(41	)		(320	)		—			—
Gross gains of the reinsurance agreement on the individual life and accident insurance portfolio in Spain.		(630	)		—			—			(630	)		—			—			—			—			—
Income Tax
Income tax		190			—			—			190			—			—			—			—			—
Net income from discontinued operations
Capital gains on the sale of the mandatory pension fund administrators as well as the ordinary income generated prior to the sale		(1,400	)		(7	)		(570	)		(823	)		(392	)		(138	)		(83	)		(75	)		(96	)
Income from corporate transactions
Total		2,068			160			593			1,315			1,303			348			575			108			272

Annex 2: Reclassified income statements

BBVA Group. Consolidated Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1st Quarter		2nd Quarter		3rd Quarter
Net interest income		3,594		3,741		3,877		3,910		3,623		3,679		3,551
Net fees and commissions		1,062		1,061		1,104		1,126		1,052		1,126		1,114
Net trading income		340		461		319		646		719		630		569
Dividends		27		447		35		17		19		176		56
Income by the equity method		15		7		-3		22		-1		11		9
Other operating income and expenses		51		57		6		-32		7		-153		-113
Gross income		5,089		5,774		5,340		5,690		5,419		5,470		5,186
Operating expenses		-2,528		-2,633		-2,771		-2,855		-2,758		-2,814		-2,777
Administration expenses		-2,298		-2,397		-2,511		-2,561		-2,482		-2,535		-2,494
Personnel expenses		-1,347		-1,396		-1,447		-1,472		-1,458		-1,454		-1,452
General and administrative expenses		-951		-1,001		-1,064		-1,089		-1,025		-1,080		-1,042
Depreciation and amortization		-230		-236		-259		-294		-276		-279		-283
Operating income		2,562		3,141		2,569		2,835		2,661		2,656		2,410
Impairment on financial assets (net)		-1,085		-2,182		-2,038		-2,675		-1,376		-1,336		-1,854
Provisions		-130		-98		-195		-228		-167		-130		-137
Other gains (losses)		-223		-311		-881		-310		-287		-172		-198
Income before tax		1,123		549		-546		-378		831		1,017		221
Income tax		-223		3		275		220		-205		-261		-13
Net income from ongoing operations		901		552		-270		-158		626		756		208
Income from corporate transactions		272		108		575		348		1,315		593		160
Net income		1,173		659		305		190		1,941		1,349		368
Non-controlling interests		-168		-154		-159		-170		-206		-202		-172
Net attributable profit		1,005		505		146		20		1,734		1,147		195

Spain

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		1,174		1,193		1,250		1,131		1,071		982		857
Net fees and commissions		342		322		344		335		345		357		331
Net trading income		125		107		-11		34		220		196		211
Other income/expenses		68		128		65		57		33		45		77
Gross income		1,708		1,750		1,648		1,558		1,669		1,579		1,476
Operating expenses		-694		-692		-721		-780		-768		-766		-744
Administration expenses		-669		-667		-696		-755		-743		-734		-716
Personnel expenses		-435		-433		-454		-472		-489		-460		-459
General and administrative expenses		-235		-234		-242		-283		-254		-274		-257
Depreciation and amortization		-25		-24		-25		-25		-25		-31		-28
Operating income		1,014		1,058		927		778		901		814		733
Impairment on financial assets (net)		-449		-469		-476		-459		-618		-547		-995
Provisions (net) and other gains/losses		-34		2		-108		-133		-90		-24		-85
Income before tax		530		592		343		187		193		243		-347
Income tax		-160		-178		-93		-56		-58		-57		83
Net income from ongoing operations		370		414		251		130		136		185		-265
Income from corporate transactions		0		0		0		0		440		0		0
Net income		370		414		251		130		576		185		-265
Non-controlling interests		-1		-1		-1		-1		-7		-12		-1
Net attributable profit		370		413		250		129		569		173		-265

Real-estate business in Spain

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		3		-5		-20		2		16		26		-14
Net fees and commissions		5		4		4		4		3		3		2
Net trading income		1		-45		13		2		12		7		20
Other income/expenses		1		-17		-22		-16		-34		-30		-22
Gross income		10		-63		-26		-7		-4		6		-14
Operating expenses		-27		-27		-32		-40		-38		-36		-37
Administration expenses		-20		-23		-26		-33		-32		-32		-31
Personnel expenses		-13		-13		-15		-19		-24		-19		-22
General and administrative expenses		-7		-10		-12		-14		-8		-12		-9
Depreciation and amortization		-6		-4		-6		-7		-6		-5		-6
Operating income		-17		-90		-58		-47		-42		-31		-51
Impairment on financial assets (net)		-180		-1,189		-935		-1,494		-153		-118		-239
Provisions (net) and other gains/losses		-241		-290		-870		-294		-271		-234		-173
Income before tax		-438		-1,569		-1,863		-1,835		-465		-382		-462
Income tax		137		442		574		505		123		97		247
Net income		-301		-1,127		-1,289		-1,330		-342		-285		-215
Non-controlling interests		0		1		0		1		-4		2		0
Net attributable profit		-300		-1,127		-1,288		-1,328		-346		-283		-216

USA

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		389		397		393		372		348		353		354
Net fees and commissions		153		148		144		136		133		143		148
Net trading income		37		59		19		38		36		59		24
Other income/expenses		-17		-15		-5		-5		-2		3		4
Gross income		562		589		551		541		515		558		530
Operating expenses		-364		-377		-386		-379		-357		-376		-367
Administration expenses		-323		-333		-339		-326		-313		-330		-322
Personnel expenses		-210		-220		-214		-197		-205		-203		-202
General and administrative expenses		-114		-113		-125		-129		-108		-127		-120
Depreciation and amortization		-41		-44		-47		-53		-44		-45		-45
Operating income		198		212		165		162		158		182		163
Impairment on financial assets (net)		-28		-14		-32		2		-17		-20		-31
Provisions (net) and other gains/losses		-12		-16		-13		-6		0		-2		3
Income before tax		159		182		120		159		141		160		135
Income tax		-50		-58		-36		-33		-46		-42		-33
Net income		108		125		84		125		95		118		101
Non-controlling interests		0		0		0		0		0		0		0
Net attributable profit		108		125		84		125		95		118		101

Eurasia

Consolidated income statement (*)

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		185		201		220		245		242		248		212
Net fees and commissions		109		126		101		116		105		101		94
Net trading income		42		41		9		40		91		75		11
Other income/expenses		23		162		24		22		21		146		15
Gross income		359		529		354		423		460		570		333
Operating expenses		-174		-192		-206		-207		-176		-184		-190
Administration expenses		-160		-179		-192		-193		-163		-171		-178
Personnel expenses		-91		-101		-106		-106		-92		-97		-102
General and administrative expenses		-69		-77		-86		-87		-70		-74		-76
Depreciation and amortization		-13		-13		-14		-14		-13		-13		-13
Operating income		186		337		148		215		283		386		142
Impairment on financial assets (net)		-27		-50		-61		-190		-85		-106		-46
Provisions (net) and other gains/losses		-6		-13		0		-30		-23		-12		2
Income before tax		152		274		87		-5		175		268		98
Income tax		-29		-27		-23		-26		-48		-41		-33
Net income		123		247		64		-31		127		227		65
Non-controlling interests		0		0		0		0		0		0		0
Net attributable profit		123		247		64		-31		127		227		65

(*)	Pro forma financial statements with Garanti Group accounted for by the proportional consolidation method, without early aplication of the IFRS 10, 11 and 12.

Mexico

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		1,015		1,006		1,066		1,092		1,088		1,140		1,119
Net fees and commissions		258		267		264		284		272		309		301
Net trading income		69		33		70		46		65		49		14
Other income/expenses		59		72		80		75		91		86		66
Gross income		1,402		1,377		1,481		1,497		1,516		1,584		1,500
Operating expenses		-535		-521		-558		-552		-579		-598		-575
Administration expenses		-504		-490		-523		-515		-540		-557		-534
Personnel expenses		-225		-223		-236		-227		-246		-259		-248
General and administrative expenses		-278		-268		-288		-288		-294		-298		-286
Depreciation and amortization		-31		-31		-35		-37		-39		-41		-40
Operating income		867		856		923		945		937		986		925
Impairment on financial assets (net)		-314		-302		-353		-350		-351		-376		-374
Provisions (net) and other gains/losses		-14		-10		-14		-3		-14		-17		-15
Income before tax		539		543		556		592		571		593		536
Income tax		-129		-131		-149		-131		-142		-147		-119
Net income		409		413		407		461		430		446		417
Non-controlling interests		0		0		0		0		0		0		0
Net attributable profit		409		413		407		461		430		446		416

South America

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		945		1,028		1,108		1,207		1,041		1,106		1,198
Net fees and commissions		204		222		234		253		204		250		239
Net trading income		125		97		115		107		188		138		179
Other income/expenses		-42		-38		-86		-118		-94		-222		-195
Gross income		1,232		1,308		1,371		1,449		1,339		1,272		1,421
Operating expenses		-503		-555		-603		-632		-567		-579		-601
Administration expenses		-467		-514		-556		-583		-529		-538		-558
Personnel expenses		-256		-284		-300		-309		-289		-292		-297
General and administrative expenses		-211		-231		-255		-275		-240		-246		-261
Depreciation and amortization		-37		-41		-47		-49		-39		-41		-43
Operating income		729		753		768		816		771		693		821
Impairment on financial assets (net)		-98		-136		-174		-184		-151		-169		-165
Provisions (net) and other gains/losses		-25		-50		-52		-75		-27		-21		-41
Income before tax		606		567		542		557		593		503		614
Income tax		-136		-123		-120		-115		-141		-142		-122
Net income		470		444		422		441		452		362		492
Non-controlling interests		-145		-140		-143		-150		-147		-106		-168
Net attributable profit		325		304		279		291		305		255		324

Corporate Activities

Income statement

(Million euros)


	2012								2013
	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		1er Trim.		2nd Quarter		3rd Quarter
Net interest income		-116		-79		-138		-140		-185		-175		-175
Net fees and commissions		-8		-28		13		-1		-11		-37		-1
Net trading income		-59		170		105		378		109		106		110
Other income/expenses		-1		219		-18		-8		11		7		8
Gross income		-184		282		-39		229		-76		-100		-59
Operating expenses		-231		-269		-265		-264		-272		-275		-264
Administration expenses		-155		-191		-178		-155		-163		-172		-155
Personnel expenses		-118		-122		-121		-143		-113		-124		-122
General and administrative expenses		-37		-68		-57		-12		-50		-49		-33
Depreciation and amortization		-76		-78		-86		-109		-109		-102		-108
Operating income		-415		13		-303		-35		-348		-375		-322
Impairment on financial assets (net)		12		-21		-6		0		0		0		-3
Provisions (net) and other gains/losses		-21		-32		-21		3		-30		7		-27
Income before tax		-424		-40		-331		-32		-378		-367		-352
Income tax		144		77		121		76		106		70		-35
Net income from ongoing operations		-280		37		-209		44		-271		-298		-387
Income from corporate transactions		272		108		575		348		875		593		160
Net income		-8		145		366		392		603		296		-227
Non-controlling interests		-22		-14		-15		-20		-49		-85		-3
Net attributable profit		-30		131		351		372		554		211		-230

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.