Final Results

Banco Bilbao Vizcaya Argentaria SA
24 January 2001


Very positive outcomes in 2000, first year after the merger

             BBVA INCREASES ITS NET ATTRIBUTABLE PROFIT IN
                    27.9% UP TO 371,388 MILLION PESETAS

-          It exceeds in almost 4 points the expected in the Proyecto Cre@ in
           2000.

-          The good outcomes supports in the increase of the net interest
           income, either in the domestic business or in America and in the     
           strict control of the expenses.

-          Strong, increase of the activity in all the business areas and, as a
           consequence, increase of the business income in 34.4%.

-          The R0E reaches 21.1% after the capital increase, in trend of
           fulfilling the target established, for 2002 (24%).

-          The efficiency ratio in the domestic market has improved in 3.2
           points, up to 45%, and 3.1 points in Latin America, up to 57.6%.

-          BBVA earmarks 345,000 million pesetas to loss provisions; complete
           amortization of the goodwill for the investment in Terra as a        
           highlight

                               BBA Group highlights
                              (Consolidated figures)
                                   
                                   2000                  1999(1)     1998(1)
                            Pesetas    Euros     ^%            Euros

BALANCE SHEET (millions)

 Total assets             49,985,045  300,416    26.1     238,166     202,911
 Total lending (gross)    23,755,129  142,771    25.4 (2) 116,373     102,653
 Customer funds recorded
 on the balance sheet     30,481,041  183,195    30.9     139,934     119,941 
 Other customer funds
 managed                  19,771,816  118,831    15.7     102,677      74,221
 Total funds managed      50,252,857  302,026    24.5     242,611     194,162
 Shareholders' funds
 (including profit of
 the year (3)              2,207,097  13,265     57.3       8,432       7,930


INCOME STATEMENT (millions)
 Basic margin              1,724,458  10,364     22.4       8,467       7,857
 Business income 
 (operating income & net
 income from comp. carried
 by the equity method)       826,123   4,965     34.4       3,694       3,339
 Pre-tax profit              644,851   3,876     33.6       2,902       2,374
 Net attributable profit     371,388   2,232     27.9       1,746       1,424

OTHER FIGURES (4)

 Market Capitalisation
 (millions)                8,428,159  50,654     22.2      41,437       38,253
 Net attributable profit
 per share                    121.01     0.73    21.0       0.60         0.50
 Book value per share         690.6      4.2     44.2       2.88         2.77
 PER (Price Earnings Ratio:
 times)                                 21.8        -      23.5         26.8
 Price/Book value (times)                3.8        -       4.9          4.8

RELEVANT RATIOS (%)
 Business income / ATA                  1.83               1.68         1.66
 ROE (Net attributable 
 profit/Average equity)                 21.1               21.9        18.1
 ROA (Net income/Average 
 total assets                           1.08               0.98        0.89
 RORWA (Net income/Risk
 weighted assets)                       1.85               1.75        1.69
 Efficiency ratio                       53.3               54.6        55.4
 NPL ratio                              1.92(5)            1.76         2.32
 Coverage ratio                         189.5              135.1        115.3

CAPITAL ADEQUACY RATIOS
(BIS regulations)(%)
 Total                                   11.9              11.3         12.0
 TIER 1                                   8.9               8.5          9.0

OTHER INFORMATION
 Number of employees                  108,082            88,556       86,349
 - Spain                               33,733            37,052       37,847
 - America                             72,314            49,286       46,387
 - Rest of the world                    2,035             2,218        2,115
 Number of branches                     8,946             7,491        7,226
 - Spain                                3,864             4,336        4,495
 - America                              4,865             2,945        2,531
 - Rest of the world                      217               210          200

(1)  Pro-forma data.                         (4) The number of shares has been
(2)  Considering the securitization.Without      adjusted to take into account
     its effect the increase would be 22.7%      capital operations in 1998
(3)  After profit distribution               (5) Considering the securitization
                                                 Without its effect the ratio
                                                 would be 1.96.

                          Consolidated income statement
                                   (Millions)

                                    2000                  1999        1998
                            Pesetas     Euros    ^%           Euros

 Financial revenues        3,215,381   19,325    35.2    13,920      14,229
 Financial expenses      (2,115,501)  (12,714)   49.0    (8,534)     (9,073)
 Dividends                   63,930       384     2.9       374         360

NET INTEREST INCOME       1,163,810     6,995    21.4     5,760       5,516
  Net fee income            560,648     3,369    24.5     2,707       2,341

BASIC MARGIN              1,724,458    10,364    22.4     8,467       7,857
  Market operations         129,552       779    21.5       641         517

ORDINARY REVENUE          1,854,010    11,143    22.3     9,108       8,374
  Personnel costs          (627,985)   (3,774)   17.7    (3,207)     (2,961)
  General expenses         (359,862)   (2,163)   22.2    (1,769)     (1,677)

GENERAL ADMINISTRATIVE
EXPENSES                   (987,847)   (5,937)   19.3    (4,976)     (4,638)
Depreciation and
Amortization               (108,560)    (653)    30.1     (502)       (458)
Other oper.revenues and
expenses(net)                (29,420)   (177)     2.2     (173)       (158)

OPERATING INCOME            728,183    4,376     26.6     3,457       3,120
 Net income from comp.
 carried by the eq.method    97,940      589    147.8       238         220
 Memorandum item: correc.
 for payment of divid.      (44,661)    (268)    (8.7)     (294)       (282)

BUSINESS INCOME             826,123     4,965    34.4     3,695       3,340
 Amortization of goodwill
 in consolidation          (110,616)    (665)    (4.6)     (697)       (782)
 Net income on Group
 transactions               217,440     1,307    41.5       923       1,032
 Net loan loss provisions  (161,953)     (973)   29.6      (750)     (1,015)
 - Gross provisions        (251,376)   (1,511)   18.8    (1,271)     (1,109)
 - Reversals                 23,674       142   (43.9)      254         275
 - Recoveries                45,529       274     9.5       250         214
 - Country risk net
   provision                 20,220       122    613.5       17        (395)
 Net securities writedowns   (1,143)      (7)   (209.0)       6          (5)
 Extraordinary items (net) (125,000)      (751)  173.4     (275)       (196)

PRE-TAX PROFIT              644,851     3,876     33.6     2,902       2,374
 Corporate income tax      (160,021)     (962)    31.1     (734)       (589)

NET INCOME                  484,830     2,914     34.4     2,168       1,785
  Minority interests       (113,442)      (682)    61.4     (422)       (361)

NET ATTRIBUTABLE PROFIT    371,388      2,232     27.9     1,746       1,424