Banco Bilbao Vizcaya Argentaria (BBVA) F-3ASR Automatic shelf registration (foreign)

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS

				Year Ended December 31,
		31-March-2010		2009		2008		2007		2006		2005
		(in thousands of euros, except ratios)
	EU-IFRS(1)
	Earnings
1	Income before taxes, minority interest and extraordinary items		1,862,484		5,735,579		6,926,125		8,494,568		7,030,336		5,591,753
2	Add: Interest expenses and preferred dividend		1,148,223		5,531,593		8,482,556		8,048,747		5,522,499		4,413,641
3	Earnings excluding Interest on deposits		3,010,707		11,267,172		15,408,681		16,543,315		12,522,835		10,055,394
4	Add: Interest on deposits		713,457		4,572,194		8,825,163		7,760,789		5,548,207		4,387,394
5	Earnings including Interest on deposits		3,724,164		15,839,366		24,233,844		24,304,104		18,101,042		14,392,788
	Fixed Charges
6	Fixed Charges excluding Interest on deposits (Line 2)		1,148,223		5,531,593		8,482,556		8,048,747		5,522,499		4,413,641
7	Add: Interest on deposits (Line 4)		713,457		4,572,194		8,825,163		7,760,789		5,548,207		4,387,394
8	Fixed Charges including Interest on deposits		1,861,680		10,103,787		17,307,719		15,809,536		11,070,706		8,801,035
	Consolidated Ratios of Earnings to Fixed Charges
	Including Interests on deposits (Line 5 / Line 8)		2.00		1.57		1.40		1.54		1.64		1.64
	Excluding Interest on deposits (Line 3 / Line 6)		2.62		2.04		1.82		2.06		2.27		2.27

(1) EU-IFRS required to be applied under the Bank of Spain’s Circular 4/2004.