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DELIVERING GROWTH
DELIVERING GROWTH
DELIVERING GROWTH
DELIVERING GROWTH
Global Financial
Warburg Global Financial
UBS UBS UBS UBS Warburg
Global Financial
Global Financial
Warburg
Warburg
Services Conference
Services Conference
Services Conference
Services Conference
NewNewNewNew YorkYorkYorkYork, 11, 11, 11, 11thththth May 2004
May 2004
May 2004
May 2004
Disclaimer
Disclaimer
Disclaimer
Disclaimer
T h i s d o c u m e n t i s o n l y p r o v i d e d f o r i n f o r m a t i o n p u r p o s e s a n d d o e s n o t c o n s t i t u t e , n o r m u s t i t b e
i n t e r p r e t e d a s , a n o f f e r t o s e l l o r e x c h a n g e o r a c q u i r e , o r a n i n v i t a t i o n f o r o f f e r s t o b u y s e c u r i t i e s i s s u e d b y
a n y o f t h e a f o r e m e n t i o n e d c o m p a n i e s . A n y d e c i s i o n t o b u y o r i n v e s t i n s e c u r i t i e s i n r e l a t i o n t o a s p e c i f i c
i s s u e m u s t b e m a d e s o l e l y a n d e x c l u s i v e l y o n t h e b a s i s o f t h e i n f o r m a t i o n s e t o u t i n t h e p e r t i n e n t
p r o s p e c t u s f i l e d b y t h e c o m p a n y i n r e l a t i o n t o s u c h s p e c i f i c i s s u e . N o b o d y w h o b e c o m e s a w a r e o f t h e
i n f o r m a t i o n c o n t a i n e d i n t h i s r e p o r t m u s t r e g a r d i t a s d e f i n i t i v e , b e c a u s e i t i s s u b j e c t t o c h a n g e s a n d
m o d i f i c a t i o n s .
T h i s d o c u m e n t c o n t a i n s o r m a y c o n t a i n f o r w a r d l o o k i n g s t a t e m e n t s ( i n t h e u s u a l m e a n i n g a n d w i t h i n t h e
m e a n i n g o f t h e U S P r i v a t e S e c u r i t i e s L i t i g a t i o n A c t o f 1 9 9 5 ) r e g a r d i n g i n t e n t i o n s , e x p e c t a t i o n s o r
p r o j e c t i o n s o f B B V A o r o f i t s m a n a g e m e n t o n t h e d a t e t h e r e o f , t h a t r e f e r t o m i s c e l l a n e o u s a s p e c t s ,
i n c l u d i n g p r o j e c t i o n s a b o u t t h e f u t u r e e a r n i n g s o f t h e b u s i n e s s . T h e s t a t e m e n t s c o n t a i n e d h e r e i n a r e b a s e d
o n o u r c u r r e n t p r o j e c t i o n s , a l t h o u g h t h e s a i d e a r n i n g s m a y b e s u b s t a n t i a l l y m o d i f i e d i n t h e f u t u r e b y
c e r t a i n r i s k s , u n c e r t a i n t y a n d o t h e r s f a c t o r s r e l e v a n t t h a t m a y c a u s e t h e r e s u l t s o r f i n a l d e c i s i o n s t o d i f f e r
f r o m s u c h i n t e n t i o n s , p r o j e c t i o n s o r e s t i m a t e s . T h e s e f a c t o r s i n c l u d e , w i t h o u t l i m i t a t i o n , ( 1 ) t h e m a r k e t
s i t u a t i o n , m a c r o e c o n o m i c f a c t o r s , r e g u l a t o r y , p o l i t i c a l o r g o v e r n m e n t g u i d e l i n e s , ( 2 ) d o m e s t i c a n d
i n t e r n a t i o n a l s t o c k m a r k e t m o v e m e n t s , e x c h a n g e r a t e s a n d i n t e r e s t r a t e s , ( 3 ) c o m p e t i t i v e p r e s s u r e s , ( 4 )
t e c h n o l o g i c a l c h a n g e s , ( 5 ) a l t e r a t i o n s i n t h e f i n a n c i a l s i t u a t i o n , c r e d i t w o r t h i n e s s o r s o l v e n c y o f o u r
c u s t o m e r s , d e b t o r s o r c o u n t e r p a r t s . T h e s e f a c t o r s c o u l d c o n d i t i o n a n d r e s u l t i n a c t u a l e v e n t s d i f f e r i n g
f r o m t h e i n f o r m a t i o n a n d i n t e n t i o n s s t a t e d , p r o j e c t e d o r f o r e c a s t i n t h i s d o c u m e n t a n d o t h e r p a s t o r f u t u r e
d o c u m e n t s . B B V A d o e s n o t u n d e r t a k e t o p u b l i c l y r e v i s e t h e c o n t e n t s o f t h i s o r a n y o t h e r d o c u m e n t , e i t h e r
i f t h e e v e n t s a r e n o t e x a c t l y a s d e s c r i b e d h e r e i n , o r i f s u c h e v e n t s l e a d t o c h a n g e s i n t h e s t a t e d s t r a t e g i e s
a n d i n t e n t i o n s .
T h e c o n t e n t s o f t h i s s t a t e m e n t m u s t b e t a k e n i n t o a c c o u n t b y a n y p e r s o n s o r e n t i t i e s t h a t m a y h a v e t o
m a k e d e c i s i o n s o r p r e p a r e o r d i s s e m i n a t e o p i n i o n s a b o u t s e c u r i t i e s i s s u e d b y B B V A a n d , i n p a r t i c u l a r , b y
t h e a n a l y s t s w h o h a n d l e
i n f o r m a t i o n o r
i n f o r m a t i o n t h a t h a s n o t b e e n a u d i t e d , a n d i t s r e c i p i e n t s a r e i n v i t e d t o c o n s u l t t h e d o c u m e n t a t i o n a n d
p u b l i c i n f o r m a t i o n f i l e d b y B B V A w i t h s t o c k m a r k e t s u p e r v i s o r y b o d i e s , i n p a r t i c u l a r , t h e p r o s p e c t u s e s
a n d p e r i o d i c a l i n f o r m a t i o n f i l e d w i t h t h e S p a n i s h S e c u r i t i e s E x c h a n g e C o m m i s s i o n ( C N M V ) a n d t h e
A n n u a l R e p o r t o n f o r m 2 0 – F a n d i n f o r m a t i o n o n f o r m 6 – K t h a t a r e d i s c l o s e d t o t h e U S S e c u r i t i e s a n d
E x c h a n g e C o m m i s s i o n .
t h i s d o c u m e n t . T h i s d o c u m e n t m a y c o n t a i n s u m m a r i s e d
t h i s d o c u m e n t
i n t o w h o s e
D i s t r i b u t i o n o f
p o s s e s s i o n
t h e m s e l v e s a b o u t , a n d
o b s e r v i n g a n y s u c h r e s t r i c t i o n s . B y a c c e p t i n g t h i s d o c u m e n t y o u a g r e e t o b e b o u n d b y t h e f o r e g o i n g
r e s t r i c t i o n s .
t h i s d o c u m e n t c o m e s s h a l l b e s o l e l y r e s p o n s i b l e f o r
j u r i s d i c t i o n s m a y b e p r o h i b i t e d , a n d r e c i p i e n t s
i n f o r m i n g
i n o t h e r
2
Index
Index
Index
Index
(cid:1) BBVA
Overview
BBVA Overview
Overview
Overview
BBVA
BBVA
(cid:1) Key growth drivers for BBVA
Key growth drivers for BBVA
Key growth drivers for BBVA
Key growth drivers for BBVA
(cid:1) Mexico: expanding horizons
Mexico: expanding horizons
Mexico: expanding horizons
Mexico: expanding horizons
(cid:1) Conclusions
Conclusions
Conclusions
Conclusions
3
BBVA is a financial services group
BBVA is a financial services group
BBVA is a financial services group
BBVA is a financial services group
with a solid strategic focus
with a solid strategic focus
with a solid strategic focus
with a solid strategic focus
Focus on its home markets
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Spain
Latin America
Latin America
Latin America
Latin America
Latin America
Latin America
Latin America
Latin America
Ranking
Mk. Share Ranking
Mk. Share
Ranking
Ranking
Mk. Share
Mk. Share
Loans 16% 1stststst
Loans 16% 1
Loans 16% 1
Loans 16% 1
Deposits 14% 2ndndndnd
Deposits 14% 2
Deposits 14% 2
Deposits 14% 2
Mutual Funds 19% 2ndndndnd
Mutual Funds 19% 2
Mutual Funds 19% 2
Mutual Funds 19% 2
Pension Funds 20% 1stststst
Pension Funds 20% 1
Pension Funds 20% 1
Pension Funds 20% 1
Num. of customers 10 million
Num. of customers 10 million
Num. of customers 10 million
Num. of customers 10 million
Ranking
Mk. Share (1)(1)(1)(1) Ranking
Mk. Share
Ranking
Ranking
Mk. Share
Mk. Share
1111stststst
2222ndndndnd
Mexico 28%
Mexico 28%
Mexico 28%
Mexico 28%
(2) 8%
Rest of LatamLatamLatamLatam(2) 8%
Rest of
(2) 8%
(2) 8%
Rest of
Rest of
Num. of customers 23 million
Num. of customers 23 million
Num. of customers 23 million
Num. of customers 23 million
(1)
(1)
(1)(1)
(2)
(2)
(2)(2)
Deposits
Deposits
Deposits
Deposits
Excluding Brazil and Mexico
Excluding Brazil and Mexico
Excluding Brazil and Mexico
Excluding Brazil and Mexico
33 million customers and presence in 14 Latin
33 million customers and presence in 14 Latin
33 million customers and presence in 14 Latin
33 million customers and presence in 14 Latin
American countries
American countries
American countries
American countries
4
Well positioned against European peers
Well positioned against European peers
Well positioned against European peers
Well positioned against European peers
EFFICIENCY % (1)
EFFICIENCY % (1)
EFFICIENCY % (1)
EFFICIENCY % (1)
ROE (%)
ROE (%)
ROE (%)
ROE (%)
BIS RATIO (%)
BIS RATIO (%)
BIS RATIO (%)
BIS RATIO (%)
62626262
18.418.418.418.4
12.112.112.112.1
12.712.712.712.7
52525252
15.015.015.015.0
Tier IIII
Tier
Tier Tier
8.58.58.58.5
8.78.78.78.7
European
Banks (1)
BBVA
European
Banks (1)
BBVA
European
Banks (1)
BBVA
2003
of December 2003
Data as of December
Data as
20032003
of December
of December
Data as
Data as
main European listed Banks
Average of of of of 17 17 17 17 main European listed Banks
(1)(1)(1)(1) Average
main European listed Banks
main European listed Banks
Average
Average
5