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<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink">
  <link:roleRef roleURI="http://www.bde.es/es/fr/esrs/finrep/6-2008/2008-11-26/role/EstadoTotalCambiosPatrimonioNetoPublicoIndividual" xlink:type="simple" xlink:href="es-be-FINREP-rol.xsd#EstadoTotalCambiosPatrimonioNetoPublicoIndividual"/>
  <link:labelLink xlink:type="extended" xlink:role="http://www.bde.es/es/fr/esrs/finrep/6-2008/2008-11-26/role/EstadoTotalCambiosPatrimonioNetoPublicoIndividual">
    <link:loc xlink:type="locator" xlink:href="es-be-p-FINREP.xsd#es-be-p-FINREP_AumentosCapitalFondoDotacion" xlink:label="AumentosCapitalFondoDotacion" xlink:title="AumentosCapitalFondoDotacion"/>
    <link:label xlink:type="resource" xlink:label="label_AumentosCapitalFondoDotacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_AumentosCapitalFondoDotacion" xml:lang="es" id="label_AumentosCapitalFondoDotacion">Esta partida se denominará "Aumentos de capital" en los formatos de Bancos, Cooperativas de crédito y Establecimientos financieros de Crédito y "Aumentos de fondo de dotación" en los de Cajas de ahorros</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AumentosCapitalFondoDotacion" xlink:to="label_AumentosCapitalFondoDotacion" xlink:title="label: AumentosCapitalFondoDotacion to label_AumentosCapitalFondoDotacion"/>
    <link:loc xlink:type="locator" xlink:href="es-be-p-FINREP.xsd#es-be-p-FINREP_DistribucionDividendosRemuneracionSocios" xlink:label="DistribucionDividendosRemuneracionSocios" xlink:title="DistribucionDividendosRemuneracionSocios"/>
    <link:label xlink:type="resource" xlink:label="label_DistribucionDividendosRemuneracionSocios" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_DistribucionDividendosRemuneracionSocios" xml:lang="es" id="label_DistribucionDividendosRemuneracionSocios">Esta partida se denominará "Distribución de dividendos" en los formatos de Bancos y Establecimientos Financieros de Crédito y "Remuneración a los socios" en los de Cooperativas de Crédito</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DistribucionDividendosRemuneracionSocios" xlink:to="label_DistribucionDividendosRemuneracionSocios" xlink:title="label: DistribucionDividendosRemuneracionSocios to label_DistribucionDividendosRemuneracionSocios"/>
    <link:loc xlink:type="locator" xlink:href="es-be-d-FINREP-EstadoTotalCambiosPatrimonioNeto.xsd#es-be-d-FR-pn_CapitalFondoDotacion" xlink:label="CapitalFondoDotacion" xlink:title="CapitalFondoDotacion"/>
    <link:label xlink:type="resource" xlink:label="label_CapitalFondoDotacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_CapitalFondoDotacion" xml:lang="es" id="label_CapitalFondoDotacion">Esta partida se denominará "Capital" en los formatos de Bancos, Cooperativas y Establecimientos financieros de crédito y "Fondo de dotación" en los de cajas de ahorros</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CapitalFondoDotacion" xlink:to="label_CapitalFondoDotacion" xlink:title="label: CapitalFondoDotacion to label_CapitalFondoDotacion"/>
    <link:loc xlink:type="locator" xlink:href="es-be-d-FINREP-EstadoTotalCambiosPatrimonioNeto.xsd#es-be-d-FR-pn_TotalReservas" xlink:label="TotalReservas" xlink:title="TotalReservas"/>
    <link:label xlink:type="resource" xlink:label="label_TotalReservas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalReservas" xml:lang="es" id="label_TotalReservas">Reservas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalReservas" xlink:to="label_TotalReservas" xlink:title="label: TotalReservas to label_TotalReservas"/>
    <link:loc xlink:type="locator" xlink:href="es-be-d-FINREP-EstadoTotalCambiosPatrimonioNeto.xsd#es-be-d-FR-pn_TotalOtrosInstrumentosCapital" xlink:label="TotalOtrosInstrumentosCapital" xlink:title="TotalOtrosInstrumentosCapital"/>
    <link:label xlink:type="resource" xlink:label="label_TotalOtrosInstrumentosCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalOtrosInstrumentosCapital" xml:lang="es" id="label_TotalOtrosInstrumentosCapital">Otros instrumentos de capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalOtrosInstrumentosCapital" xlink:to="label_TotalOtrosInstrumentosCapital" xlink:title="label: TotalOtrosInstrumentosCapital to label_TotalOtrosInstrumentosCapital"/>
    <link:loc xlink:type="locator" xlink:href="es-be-d-FINREP-EstadoTotalCambiosPatrimonioNeto.xsd#es-be-d-FR-pn_TotalAjustesValoracion" xlink:label="TotalAjustesValoracion" xlink:title="TotalAjustesValoracion"/>
    <link:label xlink:type="resource" xlink:label="label_TotalAjustesValoracion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_TotalAjustesValoracion" xml:lang="es" id="label_TotalAjustesValoracion">AJUSTES POR VALORACIÓN</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TotalAjustesValoracion" xlink:to="label_TotalAjustesValoracion" xlink:title="label: TotalAjustesValoracion to label_TotalAjustesValoracion"/>
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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="es-be-t-FINREP-I4-EstadoTotalCambiosPatrimonioNetoPublicoIndividual.xsd#es-be-t-FR-PNPI_Columna1" xlink:label="Fila1" xlink:title="Fila1"/>
    <link:label xlink:type="resource" xlink:label="label_Fila1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Fila1" xml:lang="es" id="label_Fila1">Columna 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Fila1" xlink:to="label_Fila1" xlink:title="label: Fila1 to label_Fila1"/>
    <link:loc xlink:type="locator" xlink:href="es-be-t-FINREP-I4-EstadoTotalCambiosPatrimonioNetoPublicoIndividual.xsd#es-be-t-FR-PNPI_Formulario" xlink:label="Formulario" xlink:title="Formulario"/>
    <link:label xlink:type="resource" xlink:label="label_Formulario" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Formulario" xml:lang="es" id="label_Formulario">Formulario I.4</link:label>
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    <link:loc xlink:type="locator" xlink:href="es-be-t-FINREP-I4-EstadoTotalCambiosPatrimonioNetoPublicoIndividual.xsd#es-be-t-FR-PNPI_Fila1" xlink:label="Columna1" xlink:title="Columna1"/>
    <link:label xlink:type="resource" xlink:label="label_Columna1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Columna1" xml:lang="es" id="label_Columna1">Fila 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Columna1" xlink:to="label_Columna1" xlink:title="label: Columna1 to label_Columna1"/>
    <link:loc xlink:type="locator" xlink:href="es-be-t-FINREP-I4-EstadoTotalCambiosPatrimonioNetoPublicoIndividual.xsd#es-be-t-FR-PNPI_PatrimonioNetoPublicoIndividualHypercube" xlink:label="PatrimonioNetoPublicoIndividualHypercube" xlink:title="PatrimonioNetoPublicoIndividualHypercube"/>
    <link:label xlink:type="resource" xlink:label="label_PatrimonioNetoPublicoIndividualHypercube" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PatrimonioNetoPublicoIndividualHypercube" xml:lang="es" id="label_PatrimonioNetoPublicoIndividualHypercube">Patrimonio Neto Publico Individual (Hypercube)</link:label>
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    <link:loc xlink:type="locator" xlink:href="es-be-t-FINREP-I4-EstadoTotalCambiosPatrimonioNetoPublicoIndividual.xsd#es-be-t-FR-PNPI_PatrimonioNetoPublicoIndividualDomain" xlink:label="PatrimonioNetoPublicoIndividualDomain" xlink:title="PatrimonioNetoPublicoIndividualDomain"/>
    <link:label xlink:type="resource" xlink:label="label_PatrimonioNetoPublicoIndividualDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PatrimonioNetoPublicoIndividualDomain" xml:lang="es" id="label_PatrimonioNetoPublicoIndividualDomain">Patrimonio Neto Publico Individual  (Domain)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PatrimonioNetoPublicoIndividualDomain" xlink:to="label_PatrimonioNetoPublicoIndividualDomain" xlink:title="label: PatrimonioNetoPublicoIndividualDomain to label_PatrimonioNetoPublicoIndividualDomain"/>
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