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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:es-be-p-op="http://www.bde.es/es/fr/esrs/corep/3-2008/2008-05-22/es-be-p-op" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_GrossIncome" xlink:label="GrossIncome" xlink:title="GrossIncome"/>
    <link:label xlink:type="resource" xlink:label="label_GrossIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossIncome" xml:lang="es" id="label_GrossIncome">INGRESOS RELEVANTES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossIncome" xlink:to="label_GrossIncome" xlink:title="label: GrossIncome to label_GrossIncome"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_Year3GrossIncome" xlink:label="Year3GrossIncome" xlink:title="Year3GrossIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Year3GrossIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Year3GrossIncome" xml:lang="es" id="label_Year3GrossIncome">ANTEPENÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Year3GrossIncome" xlink:to="label_Year3GrossIncome" xlink:title="label: Year3GrossIncome to label_Year3GrossIncome"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_Year2GrossIncome" xlink:label="Year2GrossIncome" xlink:title="Year2GrossIncome"/>
    <link:label xlink:type="resource" xlink:label="label_Year2GrossIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Year2GrossIncome" xml:lang="es" id="label_Year2GrossIncome">PENÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Year2GrossIncome" xlink:to="label_Year2GrossIncome" xlink:title="label: Year2GrossIncome to label_Year2GrossIncome"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_LastYearGrossIncome" xlink:label="LastYearGrossIncome" xlink:title="LastYearGrossIncome"/>
    <link:label xlink:type="resource" xlink:label="label_LastYearGrossIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LastYearGrossIncome" xml:lang="es" id="label_LastYearGrossIncome">ÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LastYearGrossIncome" xlink:to="label_LastYearGrossIncome" xlink:title="label: LastYearGrossIncome to label_LastYearGrossIncome"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_LoansAdvances" xlink:label="LoansAdvances" xlink:title="LoansAdvances"/>
    <link:label xlink:type="resource" xlink:label="label_LoansAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LoansAdvances" xml:lang="es" id="label_LoansAdvances">VALORES, PRÉSTAMOS Y ANTICIPOS  (SI SE APLICA EL MÉTODO ESTÁNDAR ALTERNATIVO)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LoansAdvances" xlink:to="label_LoansAdvances" xlink:title="label: LoansAdvances to label_LoansAdvances"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_Year3LoansAdvances" xlink:label="Year3LoansAdvances" xlink:title="Year3LoansAdvances"/>
    <link:label xlink:type="resource" xlink:label="label_Year3LoansAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Year3LoansAdvances" xml:lang="es" id="label_Year3LoansAdvances">ANTEPENÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Year3LoansAdvances" xlink:to="label_Year3LoansAdvances" xlink:title="label: Year3LoansAdvances to label_Year3LoansAdvances"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_Year2LoansAdvances" xlink:label="Year2LoansAdvances" xlink:title="Year2LoansAdvances"/>
    <link:label xlink:type="resource" xlink:label="label_Year2LoansAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Year2LoansAdvances" xml:lang="es" id="label_Year2LoansAdvances">PENÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Year2LoansAdvances" xlink:to="label_Year2LoansAdvances" xlink:title="label: Year2LoansAdvances to label_Year2LoansAdvances"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_LastYearLoansAdvances" xlink:label="LastYearLoansAdvances" xlink:title="LastYearLoansAdvances"/>
    <link:label xlink:type="resource" xlink:label="label_LastYearLoansAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LastYearLoansAdvances" xml:lang="es" id="label_LastYearLoansAdvances">ÚLTIMO EJERCICIO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LastYearLoansAdvances" xlink:to="label_LastYearLoansAdvances" xlink:title="label: LastYearLoansAdvances to label_LastYearLoansAdvances"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_OfWhichAllocationMechanism" xlink:label="OfWhichAllocationMechanism" xlink:title="OfWhichAllocationMechanism"/>
    <link:label xlink:type="resource" xlink:label="label_OfWhichAllocationMechanism" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OfWhichAllocationMechanism" xml:lang="es" id="label_OfWhichAllocationMechanism">DEL QUE: POR MECANISMOS DE ASIGNACIÓN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OfWhichAllocationMechanism" xlink:to="label_OfWhichAllocationMechanism" xlink:title="label: OfWhichAllocationMechanism to label_OfWhichAllocationMechanism"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_AMAMemorandumItems" xlink:label="AMAMemorandumItems" xlink:title="AMAMemorandumItems"/>
    <link:label xlink:type="resource" xlink:label="label_AMAMemorandumItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AMAMemorandumItems" xml:lang="es" id="label_AMAMemorandumItems">PRO MEMORIA: INFORMACIÓN SOBRE LOS MÉTODOS AVANZADOS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AMAMemorandumItems" xlink:to="label_AMAMemorandumItems" xlink:title="label: AMAMemorandumItems to label_AMAMemorandumItems"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_CapitalRequirementsBeforeAlleviation" xlink:label="CapitalRequirementsBeforeAlleviation" xlink:title="CapitalRequirementsBeforeAlleviation"/>
    <link:label xlink:type="resource" xlink:label="label_CapitalRequirementsBeforeAlleviation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CapitalRequirementsBeforeAlleviation" xml:lang="es" id="label_CapitalRequirementsBeforeAlleviation">REQUERIMIENTOS DE RECURSOS PROPIOS SIN TENER EN CUENTA LAS REDUCCIONES POR LA PÉRDIDA ESPERADA Y MECANISMOS DE TRANSFERENCIA DEL RIESGO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalRequirementsBeforeAlleviation" xlink:to="label_CapitalRequirementsBeforeAlleviation" xlink:title="label: CapitalRequirementsBeforeAlleviation to label_CapitalRequirementsBeforeAlleviation"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_AlleviationCapitalRequirementsDueRiskTransferMechanisms" xlink:label="AlleviationCapitalRequirementsRiskTransferMechanisms" xlink:title="AlleviationCapitalRequirementsRiskTransferMechanisms"/>
    <link:label xlink:type="resource" xlink:label="label_AlleviationCapitalRequirementsRiskTransferMechanisms" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AlleviationCapitalRequirementsRiskTransferMechanisms" xml:lang="es" id="label_AlleviationCapitalRequirementsRiskTransferMechanisms">(-) REDUCCIÓN DE REQUERIMIENTOS DE LOS RECURSOS PROPIOS POR MECANISMOS DE TRANSFERENCIA DEL RIESGO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AlleviationCapitalRequirementsRiskTransferMechanisms" xlink:to="label_AlleviationCapitalRequirementsRiskTransferMechanisms" xlink:title="label: AlleviationCapitalRequirementsRiskTransferMechanisms to label_AlleviationCapitalRequirementsRiskTransferMechanisms"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_AlleviationCapitalRequirementsCapturedInBusinessPractices" xlink:label="AlleviationCapitalRequirementsCapturedInBusinessPractices" xlink:title="AlleviationCapitalRequirementsCapturedInBusinessPractices"/>
    <link:label xlink:type="resource" xlink:label="label_AlleviationCapitalRequirementsCapturedInBusinessPractices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AlleviationCapitalRequirementsCapturedInBusinessPractices" xml:lang="es" id="label_AlleviationCapitalRequirementsCapturedInBusinessPractices">(-) REDUCCIÓN DE REQUERIMIENTOS DE LOS RECURSOS PROPIOS POR LA PÉRDIDA ESPERADA CUBIERTA EN SUS PRÁCTICAS EMPRESARIALES INTERNAS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AlleviationCapitalRequirementsCapturedInBusinessPractices" xlink:to="label_AlleviationCapitalRequirementsCapturedInBusinessPractices" xlink:title="label: AlleviationCapitalRequirementsCapturedInBusinessPractices to label_AlleviationCapitalRequirementsCapturedInBusinessPractices"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_ExcessOnLimitCapitalAlleviation" xlink:label="ExcessOnLimitCapitalAlleviation" xlink:title="ExcessOnLimitCapitalAlleviation"/>
    <link:label xlink:type="resource" xlink:label="label_ExcessOnLimitCapitalAlleviation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ExcessOnLimitCapitalAlleviation" xml:lang="es" id="label_ExcessOnLimitCapitalAlleviation">EXCESO SOBRE EL LÍMITE PARA LA REDUCCIÓN DE LOS REQUERIMIENTOS DE RECURSOS PROPIOS POR MECANISMOS DE TRANSFERENCIA DEL RIESGO</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExcessOnLimitCapitalAlleviation" xlink:to="label_ExcessOnLimitCapitalAlleviation" xlink:title="label: ExcessOnLimitCapitalAlleviation to label_ExcessOnLimitCapitalAlleviation"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_OfWhichDueInsurance" xlink:label="OfWhichDueInsurance" xlink:title="OfWhichDueInsurance"/>
    <link:label xlink:type="resource" xlink:label="label_OfWhichDueInsurance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OfWhichDueInsurance" xml:lang="es" id="label_OfWhichDueInsurance">(-) DEL QUE: POR SEGUROS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OfWhichDueInsurance" xlink:to="label_OfWhichDueInsurance" xlink:title="label: OfWhichDueInsurance to label_OfWhichDueInsurance"/>
    <link:loc xlink:type="locator" xlink:href="http://www.c-ebs.org/eu/fr/esrs/corep/2006-07-01/p-op-2006-07-01.xsd#p-op_OPRDomain" xlink:label="OPRDomain" xlink:title="OPRDomain"/>
    <link:label xlink:type="resource" xlink:label="label_OPRDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OPRDomain" xml:lang="es" id="label_OPRDomain">RP41</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OPRDomain" xlink:to="label_OPRDomain" xlink:title="label: OPRDomain to label_OPRDomain"/>
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