Final Results

Banco Santander Central Hispano SA
29 January 2001



                       BANCO SANTANDER CENTRAL HISPANO NET
                     ATTRIBUTABLE INCOME ROSE 43.4% IN 2000
                             TO 2,258 MILLION EUROS

 The bank met its initial merger objectives and is preparing for new challenges

Madrid,  January 29, 2000 - Banco Santander Central Hispano recorded  net  group
attributable income of 2,258.1 million euros in 2000, a rise of 43.4%  over  the
previous year. Return on equity increased to 20.86% against 18.51% in 1999.

Earnings  per  share rose 25%, reflecting several capital increases  during  the
year which led to share capital rising by 24.3% over the end 1999 level.

The Group successfully achieved the strategic goals set out in Programme ONE for
the  first  two  years of the merger between Banco Santander and  Banco  Central
Hispano,  positioning it among the top banks in the Spanish, European and  Latin
American financial markets.

Quantitative objectives

* Net attributable income of 2,258.1 million euros (+43.4%)

* Net operating income of 4,688.6 million euros (Ptas. 780,111 million): a rise 
  of 34.8%. doubling projected increase

* Efficiency ratio of 56.1%, exceeding the goal (excluding new incorporations   
  an improvement of 300 basis points

* Return on equity of 20.9%, above target

* Non-performing loan ratio of 2.26% (1.70% in comparable terms, excluding new
  incorporations). Provision cover rate of 123.0% (133.1% in comparable terms   
  and in line with objectives)

* Strong growth in business activity: 32.9% rise in loans and 30.5% in managed  
  customer funds


Qualitative  objectives: actions that have strengthened the strategic
underpinning of the Group's positioning as one of the leading international
banks.

*  Solid  domestic business. Founded on the strong market penetration and brand 
value  of  the  three  branch networks - Banco  Santander, BCH and Banesto  -
the Group has successfully combined integration priorities with business growth 
and sustained its leadership in key segments of the business, with a market
share of 20%.

*  Ideally  positioned  in Europe. A solid network of  alliances  with  The
Royal Bank of Scotland, Societe Generale, Commerzbank and San Paolo-IMI, and
strong  market penetration  in  Portugal  give  the  Group  optimum positioning 
for future cross-border consolidation in the European  banking sector. It also
represents a significant contribution to Group results and in latent capital
gains.

*  Leadership  in  Latin America. Group acquisitions  and  organic  growth,
together with increased stakes in subsidiary banks, as well as steps taken
to intensify integration, efficiency  and  profitability, have made Santander
Central Hispano the leading financial services  franchise in Latin America. The
average market share is approximately 10%.  During the year, important 
acquisitions were made,  particularly  Grupo Financiero Serfin in  Mexico, Grupo
Meridional and Banespa in Brazil, and Banco Caracas in  Venezuela.  Banco
Tornquist was merged with Banco Rio de la Plata  in Argentina. The Group
maintains options on 19.2% of Banco Rio (in exchange for  its  own  shares, 
either existing  or  new  issue), having authorized a transfer of rights and
obligations on the options to Merrill Lynch and agreed the possibility of
extending the execution date to  2002, at the Bank's discretion.

*  High  quality industrial portfolio and New Economy presence.  An  active
industrial  sector  investment  strategy  has  given  the  Group  a   prime
positioning  in  high  potential  sectors such  as  telecommunications  and
energy.  This  has  had  a  strong  impact  in  results  while  maintaining
substantial  latent capital gains. In the context of the New  Economy,  the
Group has pursued four basic priorities:
- Internet as a tool for transforming the Bank
- Development of a global financial portal: Patagon.com
- E-business  projects through strategic alliances: AOL Avant and BtoB Factory 
- Venture capital investments

* Optimum  customer service. One of the priority objectives  of  Programme
ONE  has  been a universal quality model for the Group which positions  the
customer as the focus of its activity.  The model has been extended to  many
of the subsidiaries and geographical areas. In this regard, the Bank  has
obtained a global quality certificate - UNE-EN IS09001  -  for  all  its
internal  and  external  activities and procedures carried out in Spain,
becoming the first bank in the world to do so for the year 2000.

*  A  team  of  top-flight  professionals. Santander  Central  Hispano  has
dedicated  efforts to  build  a motivated  and able workforce  in  which
training, professionalism and teamwork are the prevailing values.


HIGHLIGHTS:  SUBSTANTIAL GROWTH IN ALL MARGINS, AND  SIGNIFICANT  PROGRESS
IN EFFICIENCY AND PROFITABILITY

Net interest revenue rose  24.3% to 8,289.6  million euros  (Ptas. 1.38
trillion), driven by  high  volumes  that reflected in part the incorporation 
of new subsidiaries that offset narrowing customer spreads during the course of
the year. An inversion of this trend has begun to be seen with higher short-term
rates.

Net fee and commission income rose 30.4% to 4,013.0 million euros (Ptas.
667,706 million),  with all relevant business areas  showing  significant
increases:  fund  management,  debit  and  credit  cards,  securities  and
custody,  contingent liabilities,  cheques, transfers, and other operations. 
This  performance  reflects  measures taken to  build its contribution to
results, as well as favourable exchange rate effects.

Basic  revenue rose 26.2% to 12,302.6 million euros (Ptas. 2.05 trillion).
Commissions contributed 32.6% compared with 31.6% a year ago and 30.8% in
1998.  Trading gains came to 702.1 million euros (Ptas. 116,820  million),
reflecting  favourable trends in Spain and in foreign subsidiaries. These
higher levels of income are being achieved with lower risk exposure.

Net  operating  revenue  rose 28.4% to 13,004.7 million euros (Ptas.2.16
trillion), thanks to a strong contribution from retail banking and a high
weighting  of recurring income items (net interest revenue and fees) that make 
up  more than 94% of the total. The final quarter made  the  largest
contribution of the year, even excluding the new acquisitions.

GENERAL EXPENSES: EFFICIENCY RATIO IMPROVES ON OBJECTIVES

The  increased shareholdings in certain entities and exchange rate  trends
affecting  the euro and other currencies (essentially the US  dollar)  led
to  expenses rising 24.9% but if these effects are excluded the figure  is
0.2%  lower in nominal terms, after a drop of nearly 2% in 1999. In  real
terms  (discounting an average inflation over the past two years  and  the
impact  of new projects being developed the savings amount to 11% on  the
basis  of the Group perimeter in December 1998, equivalent to 600  million
euros (Ptas. 100.000 million).

Despite  this favourable trend, reflecting cost control programmes carried
out in Spain, Latin America and elsewhere abroad, the Group continues  to
have substantial  margin  for  savings in aspects  such  as  streamlining
central systems and improved efficiency from recently acquired banks.

At  the  same time, it should be noted that the cost reductions have  been
implemented   alongside  higher  spending  on  technology   and   systems,
reflecting the integration process under way in the Group, as well as  the
new  activities, development of new distribution channels and introduction
of  the  Altair Project (a technological platform for Latin America),  all
of which will have a positive impact over the next few years.

Group  efficiency ratio stood at 56.1 % at the end of the period,  compared
with  57.7% in 1999 and 62.1% in 1998. This was 90 basis points better than
the level targetted in Programme ONE for the end of this year. Without the
new  incorporations,  the  ratio  would  be  53.8%, a 320 basis  point
improvement over initial objectives.

Net  operating  income rose 34.8% to 4,688.6 million euros  (Ptas.  780,111
million),  a  measure  of  the Group's capacity  to  generate  revenue  and
control  costs. Increased activity and higher commission revenue,  as  well
as  improved  trading  results were the key factors  in  the  rise  in  net
operating  income, made possible also by cost control which rose less  than
half the rise in net operating revenue.

Revenue  from  equity  accounted holdings  plus  dividends  rose  86.1%  to
1,047.7  million, reflecting the investments in allied European  banks  and
good  performance  by companies in which the Group has a  stake.  The  main
holdings  are in The Royal Bank of Scotland, Societe Generale, San Paolo-IMI,
Commerzbank and Cepsa, as well as Banesto subsidiary Agapsa, which  realized
significant gains from property sales in the first quarter of this year.

Earnings  from  Group operations came to 384.8 million  euros  (Ptas.64,033
million), reflecting mainly capital gains from partial divestments  in  The
Royal  Bank  of Scotland. These gains have not impacted on profit  as  they
have been assigned to accelerate goodwill amortization.

2,053.6 MILLION EUROS SET ASIDE FOR PROVISIONS

A  total  of 1,048.3  million euros was assigned  to  net  loan  loss  and
country-risk  provisions in the year, 6.1% above the level for  1999.  Loan
loss  provisions  rose  10.4%  to 1,519.4 million  euros,  including  211.0
million  euros to reflect new Bank of Spain norms governing a special Fund
for loan loss cover.

The  largest  increases correspond to retail banking and  Banesto,  largely
due  to  the new norms, while global wholesale banking registered the  only
decline as a result of lower specific requirements.

The  Group  amortized  598.5  million (Ptas. 99,590  million)  in  goodwill
during  the year, 7.6% less than in 1999. The large increase in  the  final
quarter  reflected application of capital gains obtained from the  sale  of
shares  in  The  Royal Bank of Scotland (257 million euros) to  accelerated
amortization.  In  1999  a  total of 486.2  million  was  amortized  early,
utilizing  the  proceeds from the capital gain arising  from  the  sale  of
shares in Banco Comercial Portugues.

In  addition,  the  item  'Other results' (-406.2  million  euros)  includes
diverse  items,  among them provisions designed to strengthen  the  balance
sheet.  The  positive  impact  seen  in the  fourth  quarter  reflects  the
application  of  certain  generic provisions, such as  accelerated  goodwill
amortization relating to The Royal Bank of Scotland.

Pre-tax  income rose 39.0% to 3.774.0 million euros (Ptas. 627,940 million), 
and consolidated  net  income  by  40.8% to 3,059.1  million  euros  (Ptas. 
598,996 million).  Return on assets rose accordingly to 0.99% from 0.88% in 
1999.  Net attributable  income  was 43.4% higher at 2,258.1 million  euros 
(Ptas. 375,723 million), equivalent to a rise of 25% in earnings per share 
and meeting the goal set by the Group.

Retail  Banking contributed 60% to the total, (of which Retail Banking in 
Spain comprised  22%, Latin America 24%, Europe 3%, Banesto 10%),  Global 
Wholesale Banking 11%, and Asset Management/Private Banking 8%.

Net  attributable income in Latin America rose 102.5% to 1,096.4 million  
euros (Ptas.182,426 million), on the basis of the main management priorities 
set out in strategy for  the region: raising profit and efficiency ratios, 
preserving high  asset quality levels, and strict control of market risk, 
and emphasis in business activity on increasing the deposit base with a clear
focus on raising market share both on and off balance sheet.

Banesto sustained strong business activity and increased income in line with
objectives.  Net attributable income came to 373.9 million euros (Ptas. 62,213
million), a rise of 25.7% over the same period last year.

BALANCE SHEET: SUSTAINED GROWTH AND SOLIDITY

Total group managed funds came to 437,576 million euros (Ptas. 72.8 trillion) at
the  close  of  the period, a rise of 30.7% over 1999. A major  factor  was  the
consolidation of Banco Totta & Acores and Credito Predial Portugues in Portugal,
Banca  Serfin in Mexico and Grupo Financiero Meridional and Banespa  in  Brazil,
which  contributed  a  combined 62,203 million euros (Ptas.  10.5  trillion.) 
In addition  to the growth in volume, there was an improvement in the structure
of the balance sheet, reflecting customer business.

Managed  customer  funds rose 70,866 million euros or 30.5% to 303,099  million
euros,  (Ptas. 50.4 trillion). Excluding new incorporations, the  year  to  year
increase  was  13.3%  or 30,858 million euros. Total on-balance  sheet  customer
funds  rose  39.5%  to  60,694 million euros (Ptas. 10.1  trillion),  due  to  a
favourable  trend  in  both  resident  sector  deposits  (+10%)  and  also   the
non-resident  sector (+73.3%) and placement of various issues of corporate  debt
(+395%).

In  the  resident sector, all categories recorded strong growth, with the public
sector  rising  9.6%, sight deposits 5.7% and time deposits  9.4%,  favoured  by
higher  interest  rates and low returns available from alternative  mutual  fund
options.

Among mutual funds Latin America stood out as growth in Spain has been limited
by  a  significant  drop  in  sale  values  of  some  categories  of  fund  and
reimbursements made by investors. Still, the Group has performed better than the
domestic  market  average, consolidating its leadership and increasing  market
share by 80 basis points to 25.1%.

Pension  fund volume came to 16,397 million euros (Ptas.2.73  trillion,  a
rise  of 25.4% over 1999, with more than 2/3 of the total in Latin America
where  the  Group is pursuing a growth strategy, both organic and  through
acquisitions, with a significant presence in Argentina, Chile, Colombia,
Mexico, Peru and Uruguay.

Pension  fund  activity in Spain continued to centre on individual plans,
where the Group has a market share of 20%.

Net loans rose 32.9% to 169,384 million euros (Ptas. 28.18 trillion). The
non-resident   sector   accounted  for  the  strongest   growth   (60.2%),
reflecting  principally the acquisitions made during the  year  (Portugal,
Mexico, Brazil and Venezuela). Excluding these acquisitions, non-resident
loans  would  have risen 10.6% in the year, attributable in part to the
appreciation  of  the  dollar  against  the  euro  which  has  led  to   a
revaluation of Latin American currencies.

Lending  to other resident sectors was up 14.3% over the end 1999  figure,
which would have been a rise of 18% if mortgage securitization volume  is
excluded.   Mortgage   lending   rose  15.7%   (+21%   excluding   mortgage
securitization).  Lending  to  the Spanish  public  sector  was  virtually
unchanged.

There  was  a slight increase in non-performing loans in Spain's financial
sector  during the third quarter. Santander Central Hispano remains  alert
to  domestic and international economic trends, so as to adapt risk policy
ahead  of  time and always with the objective of maintaining a  medium  to
low risk profile.

Group  NPL ratio came to 0.82% in Spain, below the 0.93% recorded  at  the
end  of 1999. And below the average NPL ratio of the sector. Consolidation
of  a  new  and  integrated risk management model for  retail  banking  is
confirming  the  management improvements to be  anticipated  from  such  a
policy.

Overall  Group NPL ratio was 2.26%, and 1.70% if excluding the  new  banks
incorporated  during the year (compared with 1.97% in 1999 and  1.90%  set
under  Programme ONE for the year 2000). In Latin America, the ratio stood
at  4.52%  or 3.65% if excluding the new banks acquired in Mexico,  Brazil
and Venezuela. Provision cover rate was 109.6%.

Provision  cover  throughout the Group, including the new  Bank  of  Spain
norms,  came  to  123.0%.  Excluding the new  acquisitions,  the  rate  is
133.1%, above the 130% target set in Programme ONE.

SURPLUS EQUITY OF 5,695.9 MILLION EUROS

Total capital under BIS criteria, came to 21,621 million  euros  (Ptas.
3.597 trillion), with a surplus over minimum requirements of 5,695.9
million euros (Ptas. 947,717 million). This placed the BIS Ratio at 10.9%,
temporarily and due to the new acquisitions, with a Tier 1 of 7.6%.

During the year, the Bank launched subordinated debt issues for a total of 
1,989 million euros and eight capital increases, as a result of which capital
rose by 446.2 million euros (Ptas. 74,245 million) and reserves by 4,858 million
euros (Ptas. 808,345 million) via paid-in surplus.  In the last two quarters,
two preferred share issues were made in the U.S. market for US$300 million each.
                                                                                
Shares, shareholders and dividends                                       

The Santander Central Hispano share closed the fourth quarter at 11.40 euros 
(Ptas. 1,896.8), a rise of 55.7% since the merger was announced in January 1999
of 55.7%.  In the same period the Madrid banking sector index rose 43.1% and the
Dow Jones Euro Stoxx Bank index by 30.6%. The IBEX 35 index showed a small
decline of 2.1%.
                                                                                
At December 31, 2000, Banco Santander Central Hispano's market valuation was 
51,986.7 million euros (Ptas. 8.65 trillion), placing it among the top 15 world
banks by market capitalization and second in the Euro Stoxx 50 index as well as
first in Spain. The Bank had 1,018,062 shareholders at the end of the period, a
rise of 33.8% over the previous year.  Of total capital, 66.12% was held by
legal entities and 33.88% by individual investors. Resident shareholders
accounted for 46.29% of capital.
                                                                                
On January 31 a third interim dividend of 0.0661 euros (Ptas.11) will be paid
for the year 2000, leaving the final dividend to be announced.  It is envisaged 
that at the annual shareholders meeting a total dividend for 2000 of 0.2735 
euros (Ptas. 45.5) is confirmed, a rise of 20.2% over 1999.

                                                                              
Attachments:                                                                    
Programme ONE checklist 
Key Group Data 
Consolidated income statement             
Balance sheet 
Shareholders' equity and capital ratios 
Loans 
Customer funds


Annexe l
Programme ONE checklist
                                      Objective

                                      Year 2000    Dec. 2000       1999

ROE                                    19 - 20%         20.9       18.5
Increase in earnings per share              >10         34.8       18.0
Increase in net attributable income        25.0         43.4       26.0
Increase earnings per share                25.0         25.0       26.0

Efficiency                                 57.0         56.1       57.7

BIS ratio                                  12.0         10.9       12.0
NPL ratio*                                  1.9          2.3        2.0

Cover*                                    130.0        123.0      120.8

* In comparable terms, as envisaged in Programme ONE, excluding new     
acquisitions: NPL 1.70%, cover rate 133.0%



Annexe 2
Key Group Data

Balance Sheet                 31.12.2000           31.12.1999     2000/1999
                        Min Ptas.   Min euros       Min euros        %
                        
Total Assets           58,056,728   348,928.0      256,438.5       36.07

Loans (net)            28,183,159   169,384.2      127,472.1       32.88

Customer funds         50,431,345   303,098.5      232,232.3       30.52

  Customer funds on 
  balance sheet        35,681,532   214,450.3      153,756.6       39.47

  Mutual Funds         10,817,075    65,011.9       59,840.3        8.64

  Pension Funds         2,728,284    16,397.3       13,071.6       25.44

  Managed portfolios    1,204,454     7,238.9        5,563.7       30.11

Equity                  2,961,322    17,797.9        8,026.2      121.75

Total managed funds    72,806,541   437,576.1      334,914.1       30.65


Results                   January - Dec. 2000     Jan-Dec.99    2000/1999  

                         Min Ptas   Min.euros      Min.euros         %

Net interest revenue    1,379,267     8,289.6        6,669.9       24.28

Basic revenue           2,046,973    12,302.6        9,747.1       26.22

Operating income          780,111     4,688.6        3,479.0       34.77

Pre-tax profit            627,940     3,774.0        2,715.6       38.98

Net profit                508,996     3,059.1        2,172.0       40.84

Net attributable income   375,723     2,258.1        1,575.1       43.36

Key Group Data

Ratios

                                     31.12.00       31.12.00     31.12.99

ROA                                                     0.99         0.88
RORWA                                                   1.73         1.50
ROE                                                    20.86*       18.51
Efficiency                                             56.11        57.70       
BIS Ratio                                              10.86        12.03
Tier 1                                                  7.64         8.19
NPL ratio                                               2.26         1.97
NPL cover ratio                                       123.04       120.84


Shareholders and shares

Number of shareholders                             1,018,062      761,086
Number of shares (millions)                            4,560        3,668
Share price (Pesetas, euros)            1.897          11.40        11.24
Market capitalization (millions 
  of pesetas, euros)                8,649,858       51,986.7     41,226.0
Net attributable income per share        89.3           0.54         0.43
PER (market cap/net earnings 
  per share)                                           23.02        26.17


Other data

Number of offices                                     10,827        8,713
     * Spain                                           5,618        6,011
     * Abroad                                          5,309        2,702

Number of employees                                    126,757     94,110
      * Spain                                           43,059     45,210
      * Abroad                                          83,698     48,900


* In calculating ROE, average equity does not include 'anticipated voluntary    
  reserves'.  Including them, the ratio is 17.6%



Consolidated income statement    

                            Jan-Dec 2000   Jan-Dec 2000  Jan-Dec 99   00/99
                              Mln Ptas.      Mln euros   Mln euros      %

NET INTEREST REVENUE           1,379,267       8,289.6      6,669.9   24.28
Net fees and commissions         667,706       4,013.0      3,077.1   30.41
BASIC REVENUE                  2,046,973      12,302.6      9,747.1   26.22
Trading gains                    116.820         702.1        379.6   84.95
Net operating revenues         2,163,793      13,004.7     10,126.7   28.42
Personnel and general 
  expenses                    (1,214,013)     (7,296.4)    (5,843.2)  24.87
a) Personnel                    (740,577)     (4,451.0)    (3,775.8)  17.88
b) General expenses             (473,436)     (2,845.4)    (2,067.4)  37.63
Depreciation                    (169,669)     (1,019.7)      (804.5)  26.75
NET OPERATING INCOME             780,111       4,688.6      3,479.0   34.77
Income from equity accounted 
  holdings                       125,500         754.3        322.8  133.63
Earnings from Group transactions  64,033         384.8        704.5  (45.37)
Net provisions for loan losses  (174,430)     (1,048.3)      (988.1)   6.10
Goodwill amortization            (99,590)       (598.5)      (648.0)  (7.63)
Other income                     (67,684)       (406.8)      (154.7) 162.96
Income before taxes              627,940       3,774.1      2,715.6   38.98
Corporate Tax                   (118,944)       (714.9)      (543.6)  31.52
Net consolidated income          508,996       3,059.1      2,172.0   40.84
Minority interests                59,648         358.5        231.2   55.08
Dividend - preferred shareholders 73,625         442.4        365.8   20.98
NET ATTRIBUTABLE INCOME          375,723       2,258.1      1,575.1   43.36


Group balance sheet

ASSETS                          31.12.00      31.12.00     31.12.99   00/99
                                Mln Ptas     Mln euros    Mln euros    (%)

Cash and Central Banks         1,392,929       8,371.7      6,226.9   34.44
Government debt securities     3,786,102      22,754.9     29,717.6  (23.43)
Due from banks                 6,117,030      36,764.1     30,226.3   21.63
Loans                         28,183,159     169,384.2    127,472.1   32.88
Investment securities         10,297,007      61,886.3     36,037.7   71.73
  Fixed income                 7,747,211      46,561,7     25,613.8   81.78
  Equities                     2,549,796      15,324.6     10,423.9   47.01
    Shares and other 
      securities               1,073,009       6,448.9      5,526.2   16.70
    Equity stakes              1,284,450       7,719.7      4,036.7   91.24
    Equity stakes in Group 
      companies                  192,337       1,156.0        861.0   34.26
Tangible and intangible assets 1,228,958       7,386.2      6,302.8   17.19
Treasury stock                     9,328          56.1         35.7   57.06
Goodwill                       1,935,532      11,632.8      2,542.6  357.52
Other assets                   4,942,398      29,704.4     17,040.2   74.32
Prior years' results             164,285         987.4        836.7   18.00
from consolidated companies 
Total Assets                  58,056,728     348,928.0    256,438.5   36.07



LIABILITIES

Bank of Spain and banks       11,316,072      68,011.0     63,252.2    7.52
Customer deposits             28,211,491     169,554.5    121,573.1   39.47
     Deposits                 24,217,707     145,551.4    104,756.2   38.94
     Repos                     3,993,784      24,003.1     16,817.0   42.73
Debt securities                5,684,729      34,165.9     24,084.8   41.86
Subordinated debt              1,785,312      10,729.9      8,098.7   32.49
Pension and other allowances   2,592,203      15,579,5      4,370.2  256.49
Minority interests             1,386,282       8,331.7      6,340.1   31.41
Net consolidated income          508,996       3,059.1      2,172,0   40.84
Capital                          379,380       2,280.1      1,833.9   24.33
Reserves                       2,586.354      15,544.3      6,358.4  144.47
Other liabilities              3,605,909      21,671.9     18,355.0   18.07
Total Liabilities             58,056,728     348,928.0    256,438.5   36.07
Other managed funds
  (off-balance sheet)         14,749,813      88,648.2     78,475.7   12.96
Total managed funds           72,806,541     437,576.1    334,914.1   30.65
Contingent liabilities         4,357,977      26,192.0     20,895.4   25.35
   Guarantees                  3,686,390      22,155.7     17,618.2   25.75
   Documentary credits           671,587       4,036.3      3,277.2   23.16


Shareholders' equity
and capital ratios

                              31.12.00       31.12.00        31.12.99    00/99
                              Mln Ptas.      Mln euros      Mln euros    (%)

Subscribed capital stock        379,380      2,280.1         1,833.9     24.33
Paid-in surplus               1,344,106      8,078.2         3,220.0    150.88
Reserves                        904,657      5,437.1         1,592.6    241.39
Reserves at consolidated
  companies (net)               173,306      1,041.6           709.0     46.91
Total primary capital         2,801,449     16,837.0         7,355.5    128.90
Net attributable income         375,723      2,258.1         1,575.1     43.36
Treasury stock                   (9,328)       (56.1)          (35.7)    57.06
Distributed interim
  dividend                      (99,340)      (597.0)         (403.5)    47.98
Shareholders' equity at
  period end                  3,068,504     18,442.1         8,491.5    117.18
Interim dividend pending
  distribution                  (50,163)      (301.5)         (201.7)    49.45
Final dividend                  (57,019)      (342.7)         (263.5)    30.06
Shareholders' equity after    2,961,322     17,797.9         8,026.2    121.75
 Allocation of period
 end results
Preferred shares              1,105,495      6,644.2         5,334.7     24.55
Minority interests              414,060      2,488.6         1,602.3     55.31
Shareholders' equity &
 minority interests           4,480,877     26,930.6        14,963.2     79.98
Basic Capital (Tier 1)        2,530,248     15,207.1        12,456.1     22.09
Supplementary Capital         1,067,168      6,413.8         5,852.8      9.59
Eligible capital              3,597,416     21,620.9        18,308.9     18.09
Risk-weighted assets
 (BIS criteria)              33,121,243    199,062.7       152,172.4     30.81
BIS ratio                                      10.86           12.03
 Tier 1                                         7.64            8.19
Excess (amount)                 947,717      5,695.9         6,135.1     (7.16)


Loans

                               31.12.00      31.12.00      31.12.99     00/99
                               Mln Ptas.     Mln euros     Mln euros     (%)    


Public sector                   690,311       4,148.9       4,099.6      1.20
Private sector               13,590,004      81,677.6      71,443.4     14.32
  Secured loans               4,601,020      27,652.7      23,899.7     15.70
  Other loans                 8,988,984      54,024.9      47,543.7     13.63
Non-resident sector          14,763,423      88,730.0      55,394.2     60.18
  Secured loans               3,809,987      22,898,5      14,508.5     57.83
  Other loans                10,953,436      65,831.5      40,885.7     61.01
Gross loans                  29,043,738     174,556.4     130,937.2     33.31
Less: allowance for
  loan losses                   860,579       5,172.2       3,465.1     49.27
Net loans                    28,183,159     169,384.2     127,472.1     32.88
Note: doubtful loans            751,718       4,517.9       2,999.6     50.62
  Public sector                     618           3.7           8.7    (57.29)
  Private sector                142,349         855.5         850.0      0.65
  Non-resident sector           608,751       3,658.7       2,140.9     70.89

Customer funds

                                31.12,00      31.12.00     31.12.99     00/99
                                Mln Ptas.     Mln euros    Mln euros      %

Public sector                   392,443       2,358.6       2,151.5      9.63
Private sector               11,390,540      68,469.5      62,458.6      9.61
 Demand deposits              3,367,016      20,236.2      19,127.0      5.80
 Savings accounts             2,285,201      13,734.3      13,008.3      5.58
 Time deposits                3,483,014      20,933.3      19,206.2      8.99
 REPOS                        2,230,874      13,407.8      10,971.4     22.21
 Other accounts                  24,435         146.9         145.8      0.75
Non-resident sector          16,428,508      98,737.3      56,963.1     73.34
 Deposits                    14,692,765      88,305.3      51,267.1     72.25
 REPOS                        1,735,743      10,432.0       5,695.9     83.15
Total customer deposits      28,211,491     169,554.5     121,573.1     39.47
Debt securities               5,684,729      34,165.9      24,084.9     41.86
Subordinated debt             1,785,312      10,729.9       8,098.7     32.49
Total customer funds
 on-balance sheet            35,681,532     214,450.3     153,573.1     39.47
Total managed funds
 (off-balance sheet)         14,749,813      88,648.2      78,475.7     12.96
 Mutual funds                10,817,075      65,011.9      59,840.3      8.64
 Spain                        8,193,109      49,241.6      51,365.7     (4.14)
 Abroad                       2,623,966      15,770.4       8,474.7     86.09
 Pension funds                2,728,284      16,397.3      13,071.6     25.44
 Spain                          822,004       4,940.3       4,537.2      8.88
   Individuals                  702,595       4,222.7       3,971,6      6.32
 Abroad                       1,906,280      11,457.0       8,534.4     34.24
 Managed portfolios           1,204,454       7,238.9       5,563.7     30.11
 Spain                          373,154       2.242.7       2,922.8    (23.27)
 Abroad                         831,300       4,996.2       2,641.0     89.18
Total customer funds
 on-balance sheet            50,431,345     303,098.5     232,232.3     30.52