CAPITAL MANAGEMENT AND ADEQUACY Pillar 3 Disclosures …

Our main actions were the sale of TotalBank in the United States and 51% of Banco Popular’s real estate business. As regards business performance, activity and results grew, profitability was higher and the balance sheet stronger. Growth. Fluctuations in exchange rates and changes in our perimeter had a significant impact on balances in 2017. ................
................