Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is a diversified international financial group with activities in retail banking, asset management, private banking and wholesale banking. The Company also has a portfolio of industrial holdings in some Spanish companies. In 2002, BBVA reorganized its business areas to maximize its growth. The Company's operations include retail banking in Spain and Portugal; wholesale and investment banking, which encompasses its domestic and international corporate banking, export credits, public sector banking and investment banking; Mexico, which encompasses Bancomer and its affiliates; banking in America, which encompasses its Latin American business; asset management and private banking, which encompasses its pension and private banking businesses, and corporate activities, which encompasses its real estate business, its investments in industrial companies and its e-businesses.