FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April, 2016
Commission File Number: 001-12518
Banco Santander, S.A.
(Exact name of registrant as specified in its charter)
Ciudad Grupo Santander
28660 Boadilla del Monte (Madrid) Spain
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
Banco Santander, S.A.
Item 1 |
PRESS RELEASE
RESULTS JANUARY-MARCH 2016
Santander Q1 profit reaches EUR 1.633 billion, 5% less year-on-year and up 8% excluding FX impact
¡ Our Q1 results are ahead of plan and we continue to deliver on all our commitments. Both revenues and costumer lending grow at 4% year-on-year (excluding FX). NPLs performance improves, CET1 increases by 22 bps to 10.27% and RoTE reaches 11.1%.
¡ These results give us confidence that we will continue to deliver, including, as we announced, increasing the cash dividend per share by 10% and total dividend by 5%.
¡ Our commercial transformation continues to perform well in all our main markets, growing loyalty of customers as a result of improvements in service and satisfaction, and embedding our culture of doing things in a Simple, Personal and Fair manner, and helping customers to prosper.
¡ The number of digital customers grew 17%, to 17.8 million, with a 49% increase in clients that are frequent users of our mobile applications.
Ana Botín, Group executive chairman of Banco Santander
|
| CUSTOMERS. Loans grew 4% to EUR 787,033 million. Deposits and mutual funds totaled EUR 760,628 million, up 4% over the first quarter of 2015. |
| RESULTS. Commercial revenues increased 6%, a half point more than costs, without the effect of currency exchange. In euros, revenue fell 5% and costs, 4%. |
| CAPITAL. Regulatory CET1 stood at 12.36%, exceeding the minimum required for 2016 (9.75%). Fully loaded CET1 capital increased 22 basis points in the quarter, to 10.27%, in line to exceed 11% in 2018. |
| DIVERSIFICATION. Europe contributed 61% to Group profit (U.K., 23% and Spain, 15%) and the Americas, 39% (Brazil, 18% and Mexico, 7%). Chile, Argentina, Portugal and Poland together contributed profits of EUR 374 million. |
| Spain: attributable profit was EUR 307 million (-10%). Loans to businesses and SMEs rose 2% and current accounts, 8%. More than one million customers have the 1I2I3 account, which continued to gain market share in payroll deposits and pensions. |
| United Kingdom: attributable profit was EUR 453 million (349 million pounds, 0%). Lending grew 3%, with 11% increase in financing to businesses and 5% in customer funds. After four years, the 1|2|3 account has 4.8 million clients. |
| Brazil: attributable profit totaled EUR 359 million (1,540 million reais, 0%). Loans fell 1% and customer funds rose 10%. |
| TRANSFORMATION. Santander reached 14 million loyal customers, with 10% growth in businesses and 8% in individuals. The 1|2|3 Strategy improved the risk profile of customers. |
Comunicación Externa. | 1 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
Madrid, 27 April 2016. Banco Santander registered attributable profit of EUR 1,633 million in the first quarter of 2016, a 5% decrease compared to the same period of 2015. This decline is due to the depreciation against the euro of the currencies of all the countries where the Group is present, except the dollar. Without the exchange rate impact, profit would have increased 8%.
In a year marked by a complex international economic context, with historically low interest rates in currencies key for the Group, such as the euro and the pound, Banco Santander performed well. The bank increased its two main business lines, loans and customer funds, by 4%. This means a 6% increase in commercial revenues, which becomes a 5% decline when converted to euros.
Improved performance in revenue and business was also supported by progress in the Groups commercial transformation, particularly in technology and digitalization. The number of loyal clients reached 14 million, with growth of 10% in businesses and 8% individuals. Digital customers increased 17% to 17.8 million, with a 49% increase in customers who frequently use our mobile applications.
Results
Results for the first quarter of 2016 were affected by the exchange rate fluctuation in the different currencies in which the bank operates, which depreciated against the euro throughout last year. For the purpose of comparison, in the P&L variations are shown in euros and without the exchange rate impact.
Comunicación Externa. | 2 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
Overall, revenues grew 4% (-6% in euros), supported by normal commercial revenues, i.e., net interest income and fees, which increased 6% and 7%, respectively. Meanwhile, results from financial transactions, which are more volatile due to their ties to capital markets, dropped 24%.
Commercial revenues grew slightly more than costs (0.5 point), without the exchange rate effect. In euros the two decreased 5% and 4%, respectively, resulting in net operating income of EUR 5,572 million for the quarter, up 3% without the exchange rate effect, and down 8% in euros. Growth of 4% in commercial revenues in Spain compared to the prior quarter is particularly noteworthy.
The efficiency ratio is now 48.1%, a 1.7 point improvement over the fourth quarter of last year and one of the best among international banks. Santander aims to bring this ratio to below 45% in 2018 and it is implementing plans to reconcile the investment needed for the Groups commercial transformation with greater costs resulting from increasing regulatory requirements.
Loan loss provisions stood at EUR 2,408 million, 5% more than those made in the same quarter of 2015 (-6% in euros). This performance in provisions occurs in the context of a drop in the NPL rate, which came in at 4.33%, 0.52 percentage point lower than a year ago, and an increase in coverage, which grew five points to 74%. NPLs fell in the quarter in six countries and Santander Consumer Finance, but rose in Portugal, due to the integration of Banif, United States and Argentina.
Comunicación Externa. | 3 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
Europe accounted for 61% of profit and the Americas 39%. By countries, the largest contribution to profit, 23%, was made by the United Kingdom, followed by Brazil (18%), Spain (15%), Mexico (7%), Portugal and Chile (6% each), United States (4%), Argentina and Poland (3% each). Santander Consumer Finance, which carries out its activity in more than ten European countries, mainly in Germany, Spain and the Nordic countries, contributed 13% of profit, after earning EUR 251 million, with growth of 14% in euros and 17% without the exchange rate effect.
Business
Banco Santander closed the first quarter of 2016 with total assets of EUR 1.32 trillion, 3% more than the same period last year (-3% in euros). Loan volume rose to EUR 787,033 million, 4% more than the prior year (-3% in euros). Banco Santanders total customer funds reached EUR 760,628 million, with growth of 4% (-2% in euros).
Spain. The total loan portfolio stood at EUR 156,134 million, with a decrease of 3% from the close of March 2015. This fall is greatly affected by a 19% drop in financing to the public sector, while financing stock to SMEs and companies grew 2%. New production continued to register strong growth, with lending to SMEs increasing 13% and to individuals, 30%.
Santander Spains customer funds totaled EUR 220,295 million between deposits and mutual funds, with a decline of 4%. Low interest rates and the appeal of the 1|2|3 account meant a 28% drop in term deposits, while demand deposits increased 8% and mutual funds, 1%. Cost of deposits, which grew 0.01 point in the previous two quarters, decreased 0.08 point with respect to the last quarter and 0.14 point with respect to the same period last year.
Comunicación Externa. | 4 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
Banco Santander has recovered leadership in customer satisfaction in Spain, driven by the 1|2|3 strategy. There are currently more than one million 1|2|3 accounts in Spain, of which 980,000 are individuals and 75,000, SMEs. 1|2|3 accounts are being opened at a rate of more than 100,000 per month and the goal is to end 2016 with two million accounts. The strong loyalty of these customers is enabling the bank to increase its market share in payroll accounts, pensions and credit card billing.
United Kingdom. The loan portfolio stood at EUR 261,770 million at the close of the first quarter of 2016, with growth of 3% for the year in pounds (-5% in euros). This performance is backed by financing to companies, which grew 11%; the mortgage business, up 3%, and consumer finance, which increased 6%.
The volume of deposits and mutual funds in the United Kingdom reached EUR 216,318 million and grew 5% in pounds for the year (-3% in euros). Over the last four years, the 1I2I3 strategy has attracted 4.8 million customers, who place an average of GBP 1 billion in their accounts every month.
In companies, Santander UK continued to increase market share by attracting new customers, 25,000 in twelve months, thanks to specific platforms and products.
Brazil. The loan portfolio amounted to EUR 63,875 million, with a drop of 1% in local currency (-16% in euros). In a recessive context, mortgages grew, lending to SMEs remained stable and credit to large companies fell.
As for customer funds, Brazils total deposits and mutual funds were EUR 80,383 million, representing growth of 10% without the exchange rate effect (-6% in euros). Total deposits remained stable and funds grew 21%.
Comunicación Externa. | 5 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
Santander Brasil moved forward in its transformation process and set up a new commercial platform in 2015 which enables simplification and digitalization of processes, resulting in improved customer experience.
As for the rest of the Groups main countries, the United States grew 4% in lending year-on-year and 2% in customer funds; Mexico, 14% in credit and 12% in funds; Chile, 9% and 4%, respectively; Portugal improved 24% in loans and 22% in funds (including Banif); Poland increased credit 11% and funds 5%, and Argentina increased its loan portfolio 44% and client funds, 57% (variations that are affected by strong inflation).
Lastly, Santander Consumer Finance, which groups the consumer finance business in continental Europe, grew deposits 8% and lending to customers 11%, boosted by the agreement with French group PSA.
Capital
With regards to capital ratios, the bank closed the first quarter of the year with total eligible equity of EUR 81,093 million, and risk weighted assets were EUR 571,959 million. As a result, Santander has a CET1 capital ratio of 12.36%, 2.61 points more than the minimum required by the European Central Bank for 2016, which is 9.75%.
The CET1 fully loaded capital ratio, which assumes capital requirements that will be in force as of 1 January 2019, is 10.27%, 0.22 point more than at the end of 2015 and 0.60 point more than a year before. This capital ratio is in line to reach Santanders goal of 11% by 2018.
Comunicación Externa. | 6 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
The banks board of directors has announced its intention to distribute a dividend of EUR 0.21 against the 2016 fiscal year, which would imply an increase of 5% of the dividend per share with respect to 2015. Of this amount, EUR 16.5 cents will be paid in cash, a 10% increase with respect to last year, and EUR 4.5 cents with the Scrip Dividend program, which enables shareholders to choose between cash or shares.
Banco Santander has a market capitalization of more than EUR 65,000 million, making it the leading bank in the euro zone. Santander has 3,682,927 shareholders and 194,519 employees serving over 122 million customers through 12,962 branches.
More info: www.santander.com
Comunicación Externa. | 7 | |||
Ciudad Grupo Santander Edificio Arrecife Pl. 2 | ||||
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 | ||||
email:[email protected] |
FINANCIAL REPORT 2016 | ||||
|
JANUARY - MARCH | |||
Key consolidated data |
KEY CONSOLIDATED DATA
Balance sheet ( million) | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Total assets |
1,324,200 | 1,340,260 | (1.2 | ) | 1,369,689 | (3.3 | ) | 1,340,260 | ||||||||||||||||
Net customer loans |
773,452 | 790,848 | (2.2 | ) | 793,965 | (2.6 | ) | 790,848 | ||||||||||||||||
Customer deposits |
670,607 | 683,122 | (1.8 | ) | 687,362 | (2.4 | ) | 683,122 | ||||||||||||||||
Managed and marketed customer funds |
1,057,969 | 1,075,565 | (1.6 | ) | 1,091,174 | (3.0 | ) | 1,075,565 | ||||||||||||||||
Total equity |
98,781 | 98,753 | 0.0 | 102,105 | (3.3 | ) | 98,753 | |||||||||||||||||
Total managed and marketed funds |
1,489,950 | 1,506,520 | (1.1 | ) | 1,545,444 | (3.6 | ) | 1,506,520 | ||||||||||||||||
Ordinary income statement* ( million) | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
Net interest income |
7,624 | 7,888 | (3.3 | ) | 8,038 | (5.2 | ) | 32,189 | ||||||||||||||||
Gross income |
10,730 | 10,894 | (1.5 | ) | 11,444 | (6.2 | ) | 45,272 | ||||||||||||||||
Pre-provision profit (net operating income) |
5,572 | 5,472 | 1.8 | 6,067 | (8.1 | ) | 23,702 | |||||||||||||||||
Profit before taxes |
2,732 | 2,173 | 25.7 | 2,990 | (8.6 | ) | 10,939 | |||||||||||||||||
Attributable profit to the Group |
1,633 | 1,460 | 11.9 | 1,717 | (4.9 | ) | 6,566 |
Variations w/o exchange rate:
Quarterly: Net interest income: +0.2%; Gross income: +2.2%; Pre-provision profit: +5.4%; Attributable profit: +18.5%
Year-on-year: Net interest income: +5.2%; Gross income: +4.1%; Pre-provision profit: +2.8%; Attributable profit: +8.2%
Underlying EPS, profitability and efficiency* (%) | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
EPS (euro) |
0.11 | 0.10 | 11.4 | 0.12 | (10.8 | ) | 0.45 | |||||||||||||||||
RoE |
7.5 | 6.5 | 7.6 | 7.2 | ||||||||||||||||||||
RoTE |
11.1 | 9.8 | 11.5 | 11.0 | ||||||||||||||||||||
RoA |
0.6 | 0.5 | 0.6 | 0.6 | ||||||||||||||||||||
RoRWA |
1.3 | 1.1 | 1.4 | 1.3 | ||||||||||||||||||||
Efficiency ratio (with amortisations) |
48.1 | 49.8 | 47.0 | 47.6 | ||||||||||||||||||||
Solvency and NPL ratios (%) | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
CET1 fully-loaded |
10.27 | 10.05 | 9.67 | 10.05 | ||||||||||||||||||||
CET1 phase-in |
12.36 | 12.55 | 11.91 | 12.55 | ||||||||||||||||||||
NPL ratio |
4.33 | 4.36 | 4.85 | 4.36 | ||||||||||||||||||||
Coverage ratio |
74.0 | 73.1 | 68.9 | 73.1 | ||||||||||||||||||||
Market capitalisation and shares | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Shares (millions) |
14,434 | 14,434 | | 14,061 | 2.7 | 14,434 | ||||||||||||||||||
Share price (euros) |
3.874 | 4.558 | (15.0 | ) | 7.017 | (44.8 | ) | 4.558 | ||||||||||||||||
Market capitalisation ( million) |
55,919 | 65,792 | (15.0 | ) | 98,663 | (43.3 | ) | 65,792 | ||||||||||||||||
Book value (euro) |
6.06 | 6.12 | 6.55 | 6.12 | ||||||||||||||||||||
Price / Book value (X) |
0.64 | 0.75 | 1.07 | 0.75 | ||||||||||||||||||||
P/E ratio (X) |
8.99 | 10.23 | 14.54 | 10.23 | ||||||||||||||||||||
Other data | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Number of shareholders |
3,682,927 | 3,573,277 | 3.1 | 3,230,808 | 14.0 | 3,573,277 | ||||||||||||||||||
Number of employees |
194,519 | 193,863 | 0.3 | 187,262 | 3.9 | 193,863 | ||||||||||||||||||
Number of branches |
12,962 | 13,030 | (0.5 | ) | 12,920 | 0.3 | 13,030 | |||||||||||||||||
Information on total profit** | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
Attributable profit to the Group ( million) |
1,633 | 25 | | 1,717 | (4.9 | ) | 5,966 | |||||||||||||||||
EPS (euro) |
0.11 | (0.01 | ) | | 0.12 | (10.8 | ) | 0.40 | ||||||||||||||||
RoE |
7.5 | 4.9 | 7.6 | 6.6 | ||||||||||||||||||||
RoTE |
11.1 | 7.4 | 11.5 | 10.0 | ||||||||||||||||||||
RoA |
0.6 | 0.4 | 0.6 | 0.5 | ||||||||||||||||||||
RoRWA |
1.3 | 0.9 | 1.4 | 1.2 | ||||||||||||||||||||
P/E ratio (X) |
8.99 | 11.30 | 14.54 | 11.30 |
(*).- | Excluding non-recurring net capital gains and provisions (4Q 2015: - 1,435 million; 2015: - 600 million) |
(**).- | Including non-recurring net capital gains and provisions (4Q 2015: - 1,435 million; 2015: - 600 million) |
Note: | The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on April, 26 2016, following a favourable report from the Audit Committee on April, 20 2016. The Audit Committee verified that the information for 2016 was based on the same principles and practices as those used to draw up the annual financial statements. |
8
Financial | ||||||
report | ||||||
u | 3 | Key consolidated data | ||||
u | 4 | Santander aim | ||||
u | 6 | Highlights of the period | ||||
u | 8 | Customers | ||||
u | 9 | General background | ||||
u | 10 | Income statement and balance sheet | ||||
u | 16 | Solvency ratios | ||||
u | 17 | Risk management | ||||
u | 19 | Business information | ||||
u | 35 | Corporate Governance | ||||
u | 36 | Corporate Social Responsibility | ||||
u | 37 | The Santander share | ||||
u | 38 | Financial information, Appendix | ||||
At Banco Santander, we take advantage of new communication technologies and the social networks to improve dialogue with our stakeholders |
FINANCIAL REPORT 2016 | ||||
|
JANUARY - MARCH | |||
Key consolidated data |
Balance sheet ( million) | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Total assets |
1,324,200 | 1,340,260 | (1.2 | ) | 1,369,689 | (3.3 | ) | 1,340,260 | ||||||||||||||||
Net customer loans |
773,452 | 790,848 | (2.2 | ) | 793,965 | (2.6 | ) | 790,848 | ||||||||||||||||
Customer deposits |
670,607 | 683,122 | (1.8 | ) | 687,362 | (2.4 | ) | 683,122 | ||||||||||||||||
Managed and marketed customer funds |
1,057,969 | 1,075,565 | (1.6 | ) | 1,091,174 | (3.0 | ) | 1,075,565 | ||||||||||||||||
Total equity |
98,781 | 98,753 | 0.0 | 102,105 | (3.3 | ) | 98,753 | |||||||||||||||||
Total managed and marketed funds |
1,489,950 | 1,506,520 | (1.1 | ) | 1,545,444 | (3.6 | ) | 1,506,520 | ||||||||||||||||
Ordinary income statement* ( million) | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
Net interest income |
7,624 | 7,888 | (3.3 | ) | 8,038 | (5.2 | ) | 32,189 | ||||||||||||||||
Gross income |
10,730 | 10,894 | (1.5 | ) | 11,444 | (6.2 | ) | 45,272 | ||||||||||||||||
Pre-provision profit (net operating income) |
5,572 | 5,472 | 1.8 | 6,067 | (8.1 | ) | 23,702 | |||||||||||||||||
Profit before taxes |
2,732 | 2,173 | 25.7 | 2,990 | (8.6 | ) | 10,939 | |||||||||||||||||
Attributable profit to the Group |
1,633 | 1,460 | 11.9 | 1,717 | (4.9 | ) | 6,566 |
Variations w/o exchange rate:
Quarterly: Net interest income: +0.2%; Gross income: +2.2%; Pre-provision profit: +5.4%; Attributable profit: +18.5%
Year-on-year: Net interest income: +5.2%; Gross income: +4.1%; Pre-provision profit: +2.8%; Attributable profit: +8.2%
Underlying EPS, profitability and efficiency* (%) | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
EPS (euro) |
0.11 | 0.10 | 11.4 | 0.12 | (10.8 | ) | 0.45 | |||||||||||||||||
RoE |
7.5 | 6.5 | 7.6 | 7.2 | ||||||||||||||||||||
RoTE |
11.1 | 9.8 | 11.5 | 11.0 | ||||||||||||||||||||
RoA |
0.6 | 0.5 | 0.6 | 0.6 | ||||||||||||||||||||
RoRWA |
1.3 | 1.1 | 1.4 | 1.3 | ||||||||||||||||||||
Efficiency ratio (with amortisations) |
48.1 | 49.8 | 47.0 | 47.6 | ||||||||||||||||||||
Solvency and NPL ratios (%) | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
CET1 fully-loaded |
10.27 | 10.05 | 9.67 | 10.05 | ||||||||||||||||||||
CET1 phase-in |
12.36 | 12.55 | 11.91 | 12.55 | ||||||||||||||||||||
NPL ratio |
4.33 | 4.36 | 4.85 | 4.36 | ||||||||||||||||||||
Coverage ratio |
74.0 | 73.1 | 68.9 | 73.1 | ||||||||||||||||||||
Market capitalisation and shares | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Shares (millions) |
14,434 | 14,434 | | 14,061 | 2.7 | 14,434 | ||||||||||||||||||
Share price (euros) |
3.874 | 4.558 | (15.0 | ) | 7.017 | (44.8 | ) | 4.558 | ||||||||||||||||
Market capitalisation ( million) |
55,919 | 65,792 | (15.0 | ) | 98,663 | (43.3 | ) | 65,792 | ||||||||||||||||
Book value (euro) |
6.06 | 6.12 | 6.55 | 6.12 | ||||||||||||||||||||
Price / Book value (X) |
0.64 | 0.75 | 1.07 | 0.75 | ||||||||||||||||||||
P/E ratio (X) |
8.99 | 10.23 | 14.54 | 10.23 | ||||||||||||||||||||
Other data | Mar16 | Dec15 | % | Mar15 | % | Dec15 | ||||||||||||||||||
Number of shareholders |
3,682,927 | 3,573,277 | 3.1 | 3,230,808 | 14.0 | 3,573,277 | ||||||||||||||||||
Number of employees |
194,519 | 193,863 | 0.3 | 187,262 | 3.9 | 193,863 | ||||||||||||||||||
Number of branches |
12,962 | 13,030 | (0.5 | ) | 12,920 | 0.3 | 13,030 | |||||||||||||||||
Information on total profit** | 1Q16 | 4Q15 | % | 1Q15 | % | 2015 | ||||||||||||||||||
Attributable profit to the Group ( million) |
1,633 | 25 | | 1,717 | (4.9 | ) | 5,966 | |||||||||||||||||
EPS (euro) |
0.11 | (0.01 | ) | | 0.12 | (10.8 | ) | 0.40 | ||||||||||||||||
RoE |
7.5 | 4.9 | 7.6 | 6.6 | ||||||||||||||||||||
RoTE |
11.1 | 7.4 | 11.5 | 10.0 | ||||||||||||||||||||
RoA |
0.6 | 0.4 | 0.6 | 0.5 | ||||||||||||||||||||
RoRWA |
1.3 | 0.9 | 1.4 | 1.2 | ||||||||||||||||||||
P/E ratio (X) |
8.99 | 11.30 | 14.54 | 11.30 |
(*).- | Excluding non-recurring net capital gains and provisions (4Q 2015: - 1,435 million; 2015: - 600 million) |
(**).- | Including non-recurring net capital gains and provisions (4Q 2015: - 1,435 million; 2015: - 600 million) |
Note: | The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on April, 26 2016, following a favourable report from the Audit Committee on April, 20 2016. The Audit Committee verified that the information for 2016 was based on the same principles and practices as those used to draw up the annual financial statements. |
3
FINANCIAL REPORT 2016 | ||||
|
JANUARY - MARCH | |||
Santander aim |
Helping people and businesses prosper
(*) 2015 data
4
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Santander aim |
Simple | Personal | Fair
Employees | ||
Human Resources continued to review its strategy in accordance with the Groups new culture and contributing to its objectives.
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Among other measures, corporate behaviour patterns are being incorporated to the various processes for managing people (selection, evaluation, training and remuneration), for which a communication campaign was carried out for team heads and teams.
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Action plans are being prepared so as to make progress in areas identified for improvement in the engagement survey: agility in decision-making, organizational and processes simplification, management of talent, and improvement of workplace environment in order to be more efficient and able to develop our full potential. |
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Customers | ||
Of note in improving customer loyalty was the good pace of opening new 1|2|3 accounts in Spain as well as in Portugal and the United Kingdom.
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Significant advances were made in the NEO CRM commercial tools with the development of new functionalities and their installation in new countries (US and Uruguay)
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Noteworthy in digital transformation were the launch of the Opción Seguro app in Portugal, the new online bank for companies in Spain, an innovative point-of-sale app in Brazil and the first digital office in Argentina.
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Lastly, simpler and more efficient processes were installed in all channels in order to keep on improving the satisfaction and experience of our customers. |
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Shareholders | ||
We continued to make the information for our shareholders more transparent and facilitate the exercise of their rights, as underscored by the annual general meeting of shareholders (AGM).
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This meeting had a quorum of 57.63% (above the average for the previous three years). The number of shareholders reached a record participation, with 65% of them via online means.
|
||
The proposal to increase the total dividend by 5%, charged to 2016s earnings, was announced at the meeting, in line with the commitment taken aboard to increase the dividend on the basis of profit growth.
|
||
Also noteworthy was the new online quarterly report, facilitating its interactivity and the unification of the apps of the shareholders and investors area, while also improving the content. |
||
Communities | ||
Santander invested 207 million in 2015 in community support programmes, 160 million of which went to higher education projects in more than 1,200 universities.
|
| |
Furthermore, 47 million was assigned to community support programmes in the sphere of child education, entrepreneurship, financial education, art and culture.
|
||
Of note in education in the first quarter was completion of the fifth edition of the Santander Internship grants in SMEs, which benefited 22,500 students.
|
||
In micro credits, Santander is the leader in Brazil and a reference in other countries. A total of 253,882 micro entrepreneurs were supported in 2015 in Brazil, Chile and El Salvador. |
5
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Highlights of the period |
Customers |
We continued to transform our commercial model and make it increasingly Simple, Personal and Fair.
|
||
The number of loyal customers increased 8% over the last 12 months (individuals: +8% and companies: +10%).
|
||
The number of digital customers rose by 2.6 million (+17% year-on-year), reflecting the strength of the multi-channel strategy. |
Profit growth with good performance of commercial revenues and provisions |
Attributable profit of 1,633 million, 5% less than in the first quarter of 2015.
|
||
Negative impact of exchange rates (+8% on a currency-neutral basis):
|
||
Solid commercial revenues, fuelled by net interest income as well as fee income.
|
||
Costs almost stable in real terms and on a like-for-like basis.
|
||
Provisions were higher year-on-year, but stable over the last two quarters.
|
||
RoTE of 11.1%, in line with the underlying RoTE in 2015. |
Activity |
Impact of exchange rates: -3 p.p. in the quarter and -7 p.p. year-on-year.
|
||
On a currency-neutral basis:
|
||
Lending rose 4% year-on-year and increased in all the main segments and in eight of the 10 core units.
|
||
Funds increased 4% year-on-year due to demand deposits. Growth in nine of the 10 core units.
|
||
Solid funding structure and liquidity. Net loan-to-deposit ratio of 115%. |
6
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Highlights of the period |
HIGHLIGHTS OF THE PERIOD
Solid capital ratios and appropriate for the business model, balance sheet structure and risk profile |
Fully-loaded CET1 of 10.27%. Rise of 22 b.p. in the quarter due to profit generation and management of risk assets together with some positive non-recurring impacts (regulatory, valuation of portfolios available for sale and others) and negative ones (increased perimeter).
|
||
Total capital ratio of 13.23% and fully-loaded leverage ratio of 4.8%.
|
||
Tangible net asset value per share stable in the quarter. On a currency-neutral basis it would increase 10 b.p. |
Improvement of all credit quality ratios |
Net NPL entries dropped 17% over the first quarter of 2015 (excluding perimeter and on a currency-neutral basis). |
||
Non-performing loan (NPL) ratio of 4.33% on a continued downward trend. Of note Spain, SCF, Poland and Mexico. |
||
Coverage ratio of 74% following four quarters of continued improvement. |
||
Cost of credit 1.22%, 16 b.p. lower than in March 2015. Excluding Santander Consumer USA, 0.88% (-19 b.p.). |
Business areas: (more detail on pages 19-34 and appendix) |
Continental Europe: first quarter attributable profit of 706 million, 81% more than the fourth quarter of 2015, due to the recording in that period of the contributions to the deposit guarantee fund and resolution fund, and 12% above the first quarter of 2015 because of higher fee income and lower provisions.
| ||
United Kingdom: attributable profit of £349 million, affected by a new corporate tax surcharge. Excluding this, pre-tax profit was 13% higher than in the fourth quarter and 14% year-on-year due to good business momentum and control of costs and reduced provisions.
|
||
Latin America: negative impact of exchange rates (-7 p.p. over the fourth quarter and -25 p.p. year-on-year). Excluding this, attributable profit was 9% higher than the fourth quarter at 703 million (lower costs and provisions)and 8% year-on-year due to higher commercial revenues.
Of note Brazil with attributable profit of 359 million (+13.1% quarter-on-quarter and +0.4% year-on-year).
|
||
United States: attributable profit of $90 million, lower than in the first quarter of 2015 due to higher costs and provisions, partly due to the temporary impact of ongoing measures (creation of the holding, investment in the franchise, priorities in consumer credit, etc) and provisions for Oil & Gas in line with the sectors.
|
||
Higher profit than in the fourth quarter due to lower costs and provisions. |
7
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Customers |
Our competitive advantage is our critical mass in each of our 9+1 core markets (including Santander Consumer Finance in Europe), where we serve a total of 122 million customers. This is what enables us to generate revenues consistently, quarter after quarter, and through the economic cycle.
We have gained the confidence of our customers by taking care of their financial needs over many years.
Our business continues to be based on personal relations. Our priority this year and beyond will be to win the loyalty of our customers and foster greater use of our digital banking services.
Loyal customers: 14.0 million
We want to engage a larger number of customers and make transaction banking the key element. We analyse which products have opportunities to be improved within each market and work to deliver further enhancements.
|
||
Developing value offers for each type of customer and having a long-term strategy is the base for increasing customers confidence and loyalty in the Groups core countries.
|
||
The number of loyal customers increased to 14 million in the first quarter of 2016 thanks to new commercial tools (Argentina, Uruguay and US) and to tailored value offers (cards, 1|2|3 mini account, accounts for SMEs).
|
| |
Loyal individual customers increased 8% in the 12 months to March and companies 10%.
|
||
We continued to transform our branches in order to offer a more personalised service and make processes simpler and more intuitive. |
Digital customers: 17.8 million
Digitalisation is the key for adapting Santander to the new way of interacting with customers.
|
||
Santander is carrying out an intense digitalisation process that affects not only the services provided to its customers but also all its operations, both internal as well as external; how to use data to spur business growth; updating and modernising systems and streamlining processes and the organisation in general.
|
||
The number of digital customers increased around one million in the first quarter of 2016 to 17.8 million. The increase in the last 12 months was more than 2.5 million (+17%).
|
| |
The main units are Brazil, with close to 5 million digital customers in April, and the UK with more than 4 million.
|
||
Online banking users rose 9% in the last 12 months, while mobile ones surged 49%. |
8
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
General background |
Grupo Santander conducted its business during the first quarter in a challenging economic environment, with markets registering high volatility.
Banking activity, continued to be affected by interest rates still at historically low levels in many countries and competition was tougher in some markets, mainly for assets, while the regulatory environment was more demanding.
| United States: the economy grew 2.4% in 2015. The labour market registered a jobless rate (5%) regarded as full employment. This is spurring private consumption, as a result of which the outlook for 2016 is positive. The Federal Reserve raised its interest rates in December by a quarter of a point. The environment and volatility in the financial markets, however, is delaying a further rise in interest rates. |
| United Kingdom: GDP grew 2.3% in 2015, in line with the potential rate. Growth seems to be slowing due to domestic uncertainty, in particular the concern that Brexit happens, and the weak international environment. Inflation was 0.3%. The unemployment rate was 5.1% and wages began to rise. |
| The eurozone expanded 1.5%. There were some contradictory signs in the first quarter, with falls in confidence indices, but figures pointed to good GDP growth. Inflation was again negative (-0.2%) in March, due to the lower oil prices. The European Central Bank decided to respond to the deterioration of global prospects and market volatility with a new packet of measures including financing operations, more purchases of assets and interest rate cuts. |
| Germany: GDP increased 1.4% in 2015. The spurt in domestic demand (investment and private consumption) offset the external balances significant negative contribution. |
| Spain: the economy grew by a notable 3.2% on average (3.5% year-on-year in the fourth quarter), one of the highest in the euro zone. Growth this year is expected to be a little lower. |
| Portugal: growth of 1.5% in 2015, fuelled by exports. |
| Poland: growth remained strong (3.6% in 2015), backed by solid macroeconomic fundamentals. Interest rates remained unchanged (key rate: 1.5%). |
The performance in Latin America was varied:
| Brazil: the economy shrank 3.8% in 2015 due to the contraction of domestic demand. External demands contribution was positive (exports and foreign investment). The central bank held the Selic rate at 14.25% and indicated it will maintain high interest rates in order to control inflation expectations, which began to ease in the first quarter (9.4% in March). The real appreciated 10% against the US dollar in the first quarter and 5% against the euro. |
| Mexico: the economy grew 2.5%, supported by strong domestic demand. Inflation remained at below 3%. The central bank raised its key rate by 50 b.p. in February to 3.75% in order to combat market volatility and the pesos depreciation throughout 2015 and the beginning of 2016. At the end of March, the peso had appreciated 1% against the dollar and depreciated 3% against the euro. |
| Chile: the economy grew 2.1% in 2015, spurred by a recovery in domestic demand. Inflation remained high (4.5% year-on-year in March 2016). Inflation expectations have not changed and the rate should move toward 3% by the end of the year. The central bank raised its key rate in the fourth quarter by 50 b.p. to 3.50%. The peso appreciated 6% against the US dollar and 1% against the euro. |
Exchange rates: 1 euro / currency parity
Average (income statement) | Period-end (balance sheet) | |||||||||||||||||||
1Q16 | 1Q15 | 31.03.16 | 31.12.15 | 31.03.15 | ||||||||||||||||
|
||||||||||||||||||||
US$ |
1.102 | 1.125 | 1.139 | 1.089 | 1.076 | |||||||||||||||
|
||||||||||||||||||||
Pound sterling |
0.770 | 0.743 | 0.792 | 0.734 | 0.727 | |||||||||||||||
|
||||||||||||||||||||
Brazilian real |
4.296 | 3.215 | 4.117 | 4.312 | 3.496 | |||||||||||||||
|
||||||||||||||||||||
New Mexican peso |
19.877 | 16.820 | 19.590 | 18.915 | 16.512 | |||||||||||||||
|
||||||||||||||||||||
Chilean peso |
772.566 | 702.753 | 762.943 | 773.772 | 675.880 | |||||||||||||||
|
||||||||||||||||||||
Argentine peso |
15.890 | 9.774 | 16.666 | 14.140 | 9.483 | |||||||||||||||
|
||||||||||||||||||||
Polish zloty |
4.363 | 4.191 | 4.258 | 4.264 | 4.085 | |||||||||||||||
|
9
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
Grupo Santander Results
First quarter highlights
u | Attributable profit of 1,633 million, 5% less than the first quarter of 2015 (12% more than the fourth quarter underlying profit), mainly due to a combination of factors: |
| Negative evolution of exchange rates (profit rose 8% year-on-year on a currency-neutral basis and 19% more than the fourth quarter). |
| Solid commercial revenues, backed by net interest income and fee income. |
| Costs controlled in real terms, on a like-for-like basis, thanks to savings from the efficiency plan. |
| Lower cost of credit (1.22% vs. 1.38% in March 2015) because of better quality portfolios. |
u | The efficiency ratio was 48.1%, slightly above 2015, and continues to be among the best of our competitors. |
u | RoTE at 11.1%, in line with the underlying RoTE at the end of 2015 (11.0%) and above the total RoTE (10.0%), after incorporating non-recurring revenues. |
million
Variation | Variation | |||||||||||||||||||||||||||
1Q16 | 4Q15 | % % w/o FX | 1Q15 | % | % w/o FX | |||||||||||||||||||||||
Net interest income |
7,624 | 7,888 | (3.3 | ) | 0.2 | 8,038 | (5.2 | ) | 5.7 | |||||||||||||||||||
Net fees |
2,397 | 2,448 | (2.1 | ) | 2.4 | 2,524 | (5.0 | ) | 6.7 | |||||||||||||||||||
Gains (losses) on financial transactions |
504 | 684 | (26.3 | ) | (24.8 | ) | 695 | (27.5 | ) | (23.7 | ) | |||||||||||||||||
Other operating income |
204 | (126 | ) | | | 186 | 10.0 | 8.6 | ||||||||||||||||||||
Dividends |
44 | 107 | (59.1 | ) | (59.0 | ) | 33 | 31.5 | 32.6 | |||||||||||||||||||
Income from equity-accounted method |
83 | 82 | 1.4 | 6.6 | 99 | (16.4 | ) | 1.1 | ||||||||||||||||||||
Other operating income/expenses |
78 | (315 | ) | | | 53 | 45.8 | 6.1 | ||||||||||||||||||||
Gross income |
10,730 | 10,894 | (1.5 | ) | 2.2 | 11,444 | (6.2 | ) | 4.1 | |||||||||||||||||||
Operating expenses |
(5,158 | ) | (5,422 | ) | (4.9 | ) | (1.1 | ) | (5,377 | ) | (4.1 | ) | 5.6 | |||||||||||||||
General administrative expenses |
(4,572 | ) | (4,810 | ) | (4.9 | ) | (1.1 | ) | (4,785 | ) | (4.5 | ) | 5.5 | |||||||||||||||
Personnel |
(2,683 | ) | (2,799 | ) | (4.1 | ) | (0.6 | ) | (2,755 | ) | (2.6 | ) | 6.7 | |||||||||||||||
Other general administrative expenses |
(1,889 | ) | (2,011 | ) | (6.1 | ) | (1.7 | ) | (2,030 | ) | (7.0 | ) | 3.8 | |||||||||||||||
Depreciation and amortisation |
(586 | ) | (612 | ) | (4.3 | ) | (1.4 | ) | (592 | ) | (1.0 | ) | 6.9 | |||||||||||||||
Net operating income |
5,572 | 5,472 | 1.8 | 5.4 | 6,067 | (8.1 | ) | 2.8 | ||||||||||||||||||||
Net loan-loss provisions |
(2,408 | ) | (2,558 | ) | (5.9 | ) | (2.8 | ) | (2,563 | ) | (6.0 | ) | 4.5 | |||||||||||||||
Impairment losses on other assets |
(44 | ) | (215 | ) | (79.7 | ) | (79.0 | ) | (60 | ) | (27.3 | ) | (25.5 | ) | ||||||||||||||
Other income |
(389 | ) | (526 | ) | (26.1 | ) | (26.7 | ) | (454 | ) | (14.3 | ) | (2.8 | ) | ||||||||||||||
Ordinary profit before taxes |
2,732 | 2,173 | 25.7 | 32.0 | 2,990 | (8.6 | ) | 2.7 | ||||||||||||||||||||
Tax on profit |
(810 | ) | (471 | ) | 72.1 | 78.6 | (922 | ) | (12.2 | ) | (1.9 | ) | ||||||||||||||||
Ordinary profit from continuing operations |
1,922 | 1,702 | 12.9 | 19.0 | 2,067 | (7.0 | ) | 4.7 | ||||||||||||||||||||
Net profit from discontinued operations |
| | | | 0 | (100.0 | ) | (100.0 | ) | |||||||||||||||||||
Ordinary consolidated profit |
1,922 | 1,702 | 12.9 | 19.0 | 2,067 | (7.0 | ) | 4.7 | ||||||||||||||||||||
Minority interests |
288 | 242 | 19.0 | 21.4 | 350 | (17.6 | ) | (11.3 | ) | |||||||||||||||||||
Ordinary attributable profit to the Group |
1,633 | 1,460 | 11.9 | 18.5 | 1,717 | (4.9 | ) | 8.2 | ||||||||||||||||||||
Net capital gains and provisions |
| (1,435 | ) | (100.0 | ) | (100.0 | ) | | | | ||||||||||||||||||
Attributable profit to the Group |
1,633 | 25 | | | 1,717 | (4.9 | ) | 8.2 | ||||||||||||||||||||
Ordinary EPS (euros) |
0.11 | 0.10 | 11.4 | 0.12 | (10.8 | ) | ||||||||||||||||||||||
Ordinary diluted EPS (euros) |
0.11 | 0.10 | 11.2 | 0.12 | (11.0 | ) | ||||||||||||||||||||||
EPS (euros) |
0.11 | (0.01 | ) | | 0.12 | (10.8 | ) | |||||||||||||||||||||
Diluted EPS (euros) |
0.11 | (0.01 | ) | | 0.12 | (11.0 | ) | |||||||||||||||||||||
Pro memoria: |
||||||||||||||||||||||||||||
Average total assets |
1,335,115 | 1,351,182 | (1.2 | ) | 1,334,337 | 0.1 | ||||||||||||||||||||||
Average stockholders equity |
87,571 | 90,020 | (2.7 | ) | 90,903 | (3.7 | ) |
10
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Consolidated financial report |
First quarter/fourth quarter results
The attributable profit of 1,633 million was 12% higher than the fourth quarter underlying profit. One should take into account the negative impact of exchange rates as without this, profit would have been 19% higher, as follows:
| Gross income up 2%, thanks to stable net interest income and growth in fee income (+2%) for the fourth consecutive quarter, which offset the fall in gains in financial transactions following a fourth quarter when they were the highest of the year. |
| Lower operating expenses, mainly in Brazil, US, Spain and Chile. |
| Loan-loss provisions were also down. Of note were the falls in Brazil, US, Chile and UK. |
Evolution of results year-on-year
Attributable profit was 5% lower than in the first quarter of 2015 due to the big negative impact of exchange rates. On a currency-neutral basis, the increase would have been 8%, largely due to commercial revenues and the cost of credit:
Gross income
| Our structure of revenues, where net interest income and fee income account for 93% of total revenues (well above the average of our competitors), gives us consistent and recurring growth. Gross income grew 4%, as follows: |
| Net interest income rose 6%, due to more lending and deposits, as the impact of spreads was relatively neutral, given that the slight fall in yield on loans was offset by a lower cost of deposits. |
All units gross income rose except for the UK which remained stable (+0.2%), due to lower balances of standard variable rate (SVR) mortgages and greater pressure on lending spreads, and Spain where volumes were lower and interest rate pressure on loans. |
| Fee income grew 7%, with growth in most units, from both retail banking (85% of total fee income), as well as global corporate banking. This good evolution underscored the ongoing commercial transformation and the rise in loyal customers and transactions. |
| Gains on financial transactions (only 5% of total revenues) were down 24% because of the high figure in 2015 resulting from management of interest rate hedging of portfolios. Other operating income increased 9% due to higher yields on capital instruments. |
Operating expenses
| Operating expenses rose 6% because of higher inflation, investments in the commercial transformation and costs related to regulation. In real terms and on a like-for-like basis, growth was 0.7%, with Brazils costs down 4%, Spains 2% and the UKs 1%. |
| We continued to focus on operational excellence and cost control in order to continue to be the reference in terms of the efficiency ratio. |
| During the first quarter we launched the planned measures to invest in the commercial transformation in order to have a more efficient corporation and units (commercial tools, simpler processes, new office models, etc), while meeting our savings plans. |
11
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
Loan-loss provisions
| The cost of credit continued to improve. Loan-loss provisions increased 5% year-on-year, but were more stable than in previous quarters, reflecting the selective growth strategy and appropriate risk management. |
- | Significant falls in Spain, UK and Santander Consumer Finance and increases in Brazil and US, although more stable in these two countries (lower provisions than in the fourth quarter). |
- | The cost of credit continued to improve quarter after quarter and fell from 1.38% in March 2015 to 1.22% a year later. Almost all units improved, particularly Spain, Portugal and UK. Brazils remained stable at below 5%. |
Other income and provisions
| Other income and provisions was 433 million negative, with no significant changes over the first quarter of 2015. |
Profit and profitability
| Pre-tax profit rose 3%, spurred by commercial revenues. |
| The tax charge was still around 30% and minority interests fell, mainly at Santander Consumer USA. |
| Attributable profit was 1,633 million, which was equivalent to a RoTE of 11.1%, almost unchanged from the underlying RoTE (11.0%) at the end of 2015 and more than a percentage point above the total RoTE (10.0%) for 2015. |
| Earnings per share were 0.11 (0.43 annualised), mostly stable over the underlying EPS in 2015 and above the total EPS of 0.40. |
12
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
Balance sheet |
million |
Assets | 31.03.16 | 31.03.15 | Variation amount |
% | 31.12.15 | |||||||||||||||
Cash on hand and deposits at central banks |
73,239 | 67,741 | 5,498 | 8.1 | 81,329 | |||||||||||||||
Trading portfolio |
152,621 | 168,709 | (16,088 | ) | (9.5 | ) | 147,287 | |||||||||||||
Debt securities |
50,060 | 53,564 | (3,504 | ) | (6.5 | ) | 43,964 | |||||||||||||
Customer loans |
6,866 | 5,726 | 1,140 | 19.9 | 6,081 | |||||||||||||||
Equities |
14,584 | 15,412 | (828 | ) | (5.4 | ) | 18,225 | |||||||||||||
Trading derivatives |
76,643 | 89,305 | (12,662 | ) | (14.2 | ) | 76,724 | |||||||||||||
Deposits from credit institutions |
4,468 | 4,702 | (234 | ) | (5.0 | ) | 2,293 | |||||||||||||
Other financial assets at fair value |
48,771 | 48,892 | (121 | ) | (0.2 | ) | 45,043 | |||||||||||||
Customer loans |
13,884 | 10,201 | 3,683 | 36.1 | 14,293 | |||||||||||||||
Other (deposits at credit institutions, debt securities and equities) |
34,887 | 38,691 | (3,804 | ) | (9.8 | ) | 30,750 | |||||||||||||
Available-for-sale financial assets |
118,298 | 124,536 | (6,238 | ) | (5.0 | ) | 122,036 | |||||||||||||
Debt securities |
113,656 | 118,974 | (5,318 | ) | (4.5 | ) | 117,187 | |||||||||||||
Equities |
4,642 | 5,562 | (920 | ) | (16.5 | ) | 4,849 | |||||||||||||
Loans |
817,409 | 847,887 | (30,478 | ) | (3.6 | ) | 831,637 | |||||||||||||
Deposits at credit institutions |
52,220 | 62,600 | (10,380 | ) | (16.6 | ) | 50,256 | |||||||||||||
Customer loans |
752,702 | 778,038 | (25,336 | ) | (3.3 | ) | 770,474 | |||||||||||||
Debt securities |
12,487 | 7,250 | 5,237 | 72.2 | 10,907 | |||||||||||||||
Held-to-maturity investments |
4,566 | | 4,566 | | 4,355 | |||||||||||||||
Investments |
3,350 | 3,564 | (214 | ) | (6.0 | ) | 3,251 | |||||||||||||
Intangible assets and property and equipment |
27,949 | 27,238 | 711 | 2.6 | 27,790 | |||||||||||||||
Goodwill |
26,209 | 28,667 | (2,458 | ) | (8.6 | ) | 26,960 | |||||||||||||
Other |
51,788 | 52,455 | (667 | ) | (1.3 | ) | 50,572 | |||||||||||||
Total assets |
1,324,200 | 1,369,689 | (45,489 | ) | (3.3 | ) | 1,340,260 | |||||||||||||
Liabilities and shareholders equity |
||||||||||||||||||||
Trading portfolio |
108,567 | 125,507 | (16,940 | ) | (13.5 | ) | 105,218 | |||||||||||||
Customer deposits |
9,570 | 6,794 | 2,776 | 40.9 | 9,187 | |||||||||||||||
Marketable debt securities |
| | | | | |||||||||||||||
Trading derivatives |
78,608 | 92,439 | (13,831 | ) | (15.0 | ) | 76,414 | |||||||||||||
Other |
20,389 | 26,273 | (5,884 | ) | (22.4 | ) | 19,617 | |||||||||||||
Other financial liabilities at fair value |
63,404 | 64,078 | (674 | ) | (1.1 | ) | 54,768 | |||||||||||||
Customer deposits |
28,484 | 40,190 | (11,706 | ) | (29.1 | ) | 26,357 | |||||||||||||
Marketable debt securities |
3,445 | 3,958 | (513 | ) | (13.0 | ) | 3,373 | |||||||||||||
Due to central banks and credit institutions |
31,475 | 19,929 | 11,546 | 57.9 | 25,038 | |||||||||||||||
Financial liabilities at amortized cost |
1,012,407 | 1,031,385 | (18,978 | ) | (1.8 | ) | 1,039,343 | |||||||||||||
Due to central banks and credit institutions |
138,318 | 142,133 | (3,815 | ) | (2.7 | ) | 148,079 | |||||||||||||
Customer deposits |
632,554 | 640,378 | (7,824 | ) | (1.2 | ) | 647,578 | |||||||||||||
Marketable debt securities |
197,383 | 204,353 | (6,970 | ) | (3.4 | ) | 201,656 | |||||||||||||
Subordinated debt |
20,784 | 19,746 | 1,038 | 5.3 | 21,153 | |||||||||||||||
Other financial liabilities |
23,368 | 24,775 | (1,407 | ) | (5.7 | ) | 20,877 | |||||||||||||
Insurance liabilities |
656 | 670 | (14 | ) | (2.1 | ) | 627 | |||||||||||||
Provisions |
14,292 | 15,452 | (1,160 | ) | (7.5 | ) | 14,494 | |||||||||||||
Other liability accounts |
26,093 | 30,492 | (4,399 | ) | (14.4 | ) | 27,057 | |||||||||||||
Total liabilities |
1,225,419 | 1,267,584 | (42,165 | ) | (3.3 | ) | 1,241,507 | |||||||||||||
Shareholders equity |
103,264 | 99,987 | 3,277 | 3.3 | 102,402 | |||||||||||||||
Capital stock |
7,217 | 7,030 | 187 | 2.7 | 7,217 | |||||||||||||||
Reserves |
94,414 | 91,240 | 3,174 | 3.5 | 90,765 | |||||||||||||||
Attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 5,966 | |||||||||||||
Less: dividends |
| | | | (1,546 | ) | ||||||||||||||
Equity adjustments by valuation |
(15,949 | ) | (8,072 | ) | (7,877 | ) | 97.6 | (14,362 | ) | |||||||||||
Minority interests |
11,466 | 10,190 | 1,276 | 12.5 | 10,713 | |||||||||||||||
Total equity |
98,781 | 102,105 | (3,324 | ) | (3.3 | ) | 98,753 | |||||||||||||
Total liabilities and equity |
1,324,200 | 1,369,689 | (45,489 | ) | (3.3 | ) | 1,340,260 |
13
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
Group Balance Sheet
First quarter highlights
u | Negative impact of exchange rates in the first quarter (-3 p.p. below the fourth quarter) and year-on-year (-7 p.p.). |
u | Growth trend remained in loans and funds in the first quarter on a currency-neutral basis. The Groups net loan-to-deposit ratio stood at 115%. |
u | In relation to March 2015 and on a currency-neutral basis: |
| Lending grew 4% y-o-y, with growth in the principal segments and in eight of the 10 main units. |
| In funds, 4% rise driven by demand deposits. Growth in nine of the 10 main units. |
The Groups activity and balance sheet was affected by the evolution of exchange rates: negative impact of around 3 p.p. in the first quarter and 7 p.p. over the last 12 months on loans and funds. The perimeter impact in the first quarter was marginal at around 1% year-on-year.
Gross customer loans (excluding repos)
| Loans fell 2% in the first quarter affected by exchange rates. They rose 1% on a currency-neutral basis, as follows: |
| Growth of 3% in Poland and Santander Consumer Finance, 2% in the UK, Chile and Argentina, while the USs and Mexicos balances were slightly higher than at the end of 2015. |
| Slight falls in Spain and Portugal (-1% in both) where deleveraging continues. Also in Brazil (-4%) due to more selective growth in a market slowing down and the impact of the reals appreciation on dollar balances of large companies. |
| On a currency-neutral basis, lending for the whole Group was 4% higher than in March 2015: |
| Growth in eight of the 10 core countries, particularly in Latin America (except for Brazil), Poland, SCF and Portugal (the latter two benefiting from the change of perimeter), and more moderately in the US and UK. |
| This growth is reflected in the segment for individual customers as well as SMEs and companies, favoured by the 1|2|3 and Advance strategies. |
| As regards Real Estate Activity unit in Spain, net loans were 35% lower year-on-year. |
14
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
Customer funds
| Total funds (deposits without repos and mutual funds) fell 2% in the first quarter because of exchange rates. On a currency-neutral basis, they rose 1% and changes by countries were small. |
| Deposits without repos increased 1% due to demand deposits. |
| Funds were 4% higher than in March 2015 (on a currency-neutral basis), as follows: |
| Increase of more than 10% in Brazil, Mexico and Portugal (the latter with change of perimeter), 5% in the UK and Poland, and 4% in Chile. The USs rose 2%. |
| Spain is the only unit whose funds were lower, because of the strategy to reduce time deposits. Demand deposits, on the other hand, rose about 10,000 million. |
| The general strategy to grow in demand deposits continued, with all countries doing so and reducing time deposits. |
| As well as capturing customer deposits, Grupo Santander attaches strategic importance to maintaining a selective issuance policy in international fixed income markets, seeking to adapt the frequency and volume of market operations to each units structural liquidity needs, as well as to the receptiveness of each market. |
| In the first quarter of 2016: |
| Medium and long-term senior debt issues of 8,892 million and 2,493 million of covered bonds. |
| 1,689 million of securitizations placed in the market. |
| 12,346 million of medium and long-term debt matured. |
| The net loan-to-deposit ratio at the end of March was 115%. The ratio of deposits plus medium- and long-term funding to lending was 114%, underscoring a comfortable funding structure. |
Other balance sheet items
| Financial assets available for sale amounted to 118,298 million, 6,238 million lower than in March 2015 due to lower debt in Portugal, Brazil and UK (the latter two affected by the depreciation of sterling and the Brazilian real). |
| Goodwill was 26,209 million, 2,458 million lower than in March 2015 and almost all due to the depreciation of the dollar, sterling, the real and the zloty against the euro. |
| Lastly, tangible and intangible assets amounted to 27,949 million, 711 million more than March 2015, due to rises in the UK and US (the latter from assets associated with leasing business). |
15
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Consolidated financial report |
First quarter highlights
u | The fully-loaded CET1 rose 22 b.p. in the first quarter to 10.27%. |
u | The phase-in CET1 stood at 12.36%, 261 b.p. above the 9.75% minimum required by the European Central Bank (SREP) for 2016 (including 0.25% of systemic buffer). |
u | Fully-loaded leverage ratio of 4.8%. |
| The common equity Tier1 (CET1) ratio fully-loaded was 10.27%, up 22 b.p. in the first quarter because of profit generation and management of risk-weighted assets combined with some non-recurring positive impacts (regulatory, valuation of portfolios available for sale and others) and negative ones (increased perimeter). |
| The total capital ratio was 13.23% (+18 b.p. in the first quarter). In April the parent bank carried out a T2 issue for 1,500 million (demand of more than 3,100 million, with over 200 orders placed), which would bring the total capital ratio to 13.49%. |
| From a qualitative standpoint, the Group has solid and appropriate ratios for its business model, balance sheet structure and Grupo Santanders risk profile. |
| In regulatory terms, the phase-in CET1 is 12.36%, 261 b.p. above the 9.75% (SREP) minimum required by the European Central Bank for Grupo Santander on a consolidated basis for 2016 (including the 0.25% as it is a globally systemic bank). |
16
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Risk management |
First quarter highlights
u | Net entries of non-performing loans were 17% lower year-on-year. |
u | The Groups NPL ratio was 4.33%, 3 b.p. lower than in the fourth quarter with most units improving (Brasil: -5 b.p.). In y-o-y terms, drop of 52 b.p. Of note were the falls in Mexico, Poland, Spain, Chile and Santander Consumer Finance. |
u | Coverage was 74% (+5 p.p. over March 2015), following continuous improvements in the last four quarters. |
u | The cost of credit continued to fall to 1.22% (1.38% in March 2015). |
Credit risk management
| Net entries of non-performing loans in the first quarter, isolating the perimeter effect and on a currency-neutral basis, were 1,668 million, 17% lower than in the same period of 2015. |
| Bad and doubtful loans amounted to 36,148 million at the end of March, 3% lower than December 2015 and 14% year-on-year. The Groups NPL ratio was 4.33%, 3 b.p. lower than in the fourth quarter of 2015 and 52 b.p. below March 2015. |
| Loan-loss provisions stood at 26,756 million, which provided coverage of 74%. It should be remembered that the UK and Spain NPL ratios are affected by the weight of mortgage balances, which require fewer provisions as they have guarantees. |
| The improvement in credit quality is reflected in the consequent improvement in the cost of credit (1.22% at the end of March 2016; 1.38% a year earlier). |
The NPL and coverage ratios of the main countries where the Group operates are set out below:
| Spains NPL ratio was 6.36% at the end of March (-17 b.p. in the quarter). This improvement was due to the continued trend of lower NPL entries in most portfolios. Coverage reached 50%. |
| The Real Estate Activity unit in Spain ended March with a NPL ratio of 80% and coverage of 62%. The total coverage ratio, including the balance outstanding, was 57% and coverage of assets foreclosed 55%. |
| Santander Consumer Finances NPL ratio was 3.28% (-14 b.p. below the fourth quarter), due to a good performance in most countries and in March a sale of a bad debt portfolio in SC Germany. The coverage ratio was 112%. |
| Polands NPL ratio was 5.93% (-37 b.p. over December 2015). The fall was due to the good performance of the portfolios of individuals and SMEs. Coverage improved 3 p.p. to 67%. |
| Portugals NPL ratio was 8.55% (+1.09 p.p. over December 2015), following the adjustments made in the portfolio acquired from Banif. The coverage ratio was 88%. |
| In the UK, the NPL ratio was 1.49% (-3 b.p. in the quarter). The improvement was due to the good performance of various portfolios of individuals as well as SMEs in a very competitive financial environment and very low interest rates. The coverage ratio was 37% (-1 p.p. in the quarter), as mortgage loans account for 77% of balances. |
17
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Risk management |
Non-performing loans by quarter
million
2015 | 2016 | |||||||||||||||||||
1Q | 2Q | 3Q | 4Q | 1Q | ||||||||||||||||
|
||||||||||||||||||||
Balance at beginning of period |
41,709 | 41,919 | 40,273 | 37,856 | 37,094 | |||||||||||||||
|
||||||||||||||||||||
Net additions |
2,017 | 1,315 | 2,132 | 2,242 | 1,668 | |||||||||||||||
|
||||||||||||||||||||
Increase in scope of consolidation |
54 | 1 | | 50 | 13 | |||||||||||||||
|
||||||||||||||||||||
Exchange differences |
853 | (36 | ) | (1,849 | ) | 968 | 72 | |||||||||||||
|
||||||||||||||||||||
Write-offs |
(2,715 | ) | (2,925 | ) | (2,699 | ) | (4,022 | ) | (2,699 | ) | ||||||||||
|
||||||||||||||||||||
Balance at period-end |
41,919 | 40,273 | 37,856 | 37,094 | 36,148 | |||||||||||||||
|
| Brazils NPL ratio was 5.93% (-5 b.p. over December 2015). Fall in net NPL entries in individuals but deterioration in companies due to the macroeconomic environment. The coverage ratio was 84%. |
| Mexicos NPL ratio was 3.06% (-32 b.p. over the fourth quarter). This improvement was due to a fall in NPLs, mainly individuals and SGCB. The coverage ratio was 98% (+7 p.p.). |
| Chiles NPL ratio was 5.45% (-17 b.p. in the quarter). The fall was due to the good performance of all portfolios. Coverage was 55% (+1 p.p. in the quarter). |
| In the US, the NPL ratio was 2.19% (+6 b.p. over the fourth quarter of 2015) and the coverage ratio dropped 4 p.p. to 221% |
| Santander Banks NPL ratio was 1.47% (+31 b.p. December 2015). The increase was due to NPL entries from the Oil & Gas sector companies. The coverage ratio was 95%. |
| Santander Consumer USAs NPL ratio was 38 b.p. lower at 3.28%, due to greater lending while maintaining the portfolios risk profile. The coverage ratio was 375%. |
Structural FX
| As regards structural exchange rate risk, Santander maintains a high fully-loaded core capital coverage level of around 100% in order to act as a buffer from currency movements. |
18
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Business information |
Grupo Santander maintained the general criteria applied since the third quarter of 2015 when some changes were made to the criteria and to the composition of some units in order to make the Group more transparent, facilitate analysis of the business units and enhance the value of the activity developed by the Corporation.
The only exception, as in prior years, is the annual adjustment of the perimeter of the Global Customer Relationship Model between Retail Banking and Santander Global Corporate Banking, whose figures from previous periods have been restated including these adjustments.
The change has no impact on the geographic businesses or on the Groups consolidated figures, which remained unchanged.
The financial statements of each business segment have been drawn up by aggregating the Groups basic operating units. The information relates to both the accounting data of the units integrated in each segment, as well as that provided by the management information systems. In all cases, the same general principles as those used in the Group are applied.
The operating business areas are structured into two levels:
Geographic businesses. The operating units are segmented by geographical areas. This coincides with the Groups first level of management and reflects Santanders positioning in the worlds three main currency areas (euro, sterling and dollar). The segments reported on are:
| Continental Europe. This covers all businesses in the area. Detailed financial information is provided on Spain, Portugal, Poland and Santander Consumer Finance (which incorporates all the regions business, including the three countries mentioned herewith). |
| United Kingdom. This includes the businesses developed by the Groups various units and branches in the country. |
| Latin America. This embraces all the Groups financial activities conducted via its banks and subsidiaries in the region. The financial statements of Brazil, Mexico and Chile are set out. |
| United States. Includes the holding (SHUSA) and the businesses of Santander Bank, Santander Consumer USA, Banco Santander Puerto Rico, the specialised unit of Banco Santander International Miami and the New York branch. |
Global businesses. The activity of the operating units is distributed by the type of business: retail banking, Santander Global Corporate Banking and the Spain real estate unit.
| Retail Banking. This covers all customer banking businesses, including consumer finance, except those of corporate banking, which are managed through the SGCB. The results of the hedging positions in each country are also included, conducted within the sphere of each ones Assets and Liabilities Committee. |
| Santander Global Corporate Banking (SGCB). This business reflects the revenues from global corporate banking, investment banking and markets worldwide including treasuries managed globally (always after the appropriate distribution with Retail Banking customers), as well as equities business. |
In addition to these operating units, which report by geographic area and by businesses, the Group continues to maintain the Corporate Centre area. This incorporates the centralised activities relating to equity stakes in financial companies, financial management of the structural exchange rate position, assumed within the sphere of the Groups Assets and Liabilities Committee, as well as management of liquidity and of shareholders equity through issues.
As the Groups holding entity, this area manages all capital and reserves and allocations of capital and liquidity with the rest of businesses. It also incorporates amortisation of goodwill but not the costs related to the Groups central services (charged to the areas), except for corporate and institutional expenses related to the Groups functioning.
The figures of the Groups various units have been drawn up in accordance with these criteria, and so do not coincide individually with those published by each unit. |
19
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
Business information by geography |
Net operating income | / 4Q15 | / 1Q15 | ||||||||||||||||||
|
|
|
|
|||||||||||||||||
million | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Continental Europe |
1,608 | 28.5 | 29.1 | (7.6 | ) | (6.7 | ) | |||||||||||||
|
||||||||||||||||||||
o/w: Spain |
706 | 86.6 | 86.6 | (21.0 | ) | (21.0 | ) | |||||||||||||
|
||||||||||||||||||||
Santander Consumer Finance |
562 | 6.0 | 6.5 | 4.6 | 6.5 | |||||||||||||||
|
||||||||||||||||||||
Poland |
166 | 11.6 | 13.8 | (12.4 | ) | (8.8 | ) | |||||||||||||
|
||||||||||||||||||||
Portugal |
183 | (5.2 | ) | (5.2 | ) | 59.6 | 59.6 | |||||||||||||
|
||||||||||||||||||||
United Kingdom |
719 | (4.7 | ) | 1.8 | (1.1 | ) | 2.6 | |||||||||||||
|
||||||||||||||||||||
Latin America |
2,404 | (2.3 | ) | 3.0 | (14.1 | ) | 10.6 | |||||||||||||
|
||||||||||||||||||||
o/w: Brazil |
1,434 | (0.3 | ) | 1.4 | (21.2 | ) | 5.3 | |||||||||||||
|
||||||||||||||||||||
Mexico |
470 | (8.9 | ) | (0.8 | ) | 1.4 | 19.9 | |||||||||||||
|
||||||||||||||||||||
Chile |
321 | 13.4 | 13.7 | 1.7 | 11.8 | |||||||||||||||
|
||||||||||||||||||||
USA |
1,191 | 3.4 | 4.2 | 1.6 | (0.5 | ) | ||||||||||||||
|
||||||||||||||||||||
Operating areas |
5,922 | 5.4 | 9.1 | (8.0 | ) | 2.2 | ||||||||||||||
|
||||||||||||||||||||
Corporate Centre |
(349 | ) | 142.3 | 142.3 | (6.1 | ) | (6.1 | ) | ||||||||||||
|
||||||||||||||||||||
Total Group |
5,572 | 1.8 | 5.4 | (8.1 | ) | 2.8 | ||||||||||||||
|
||||||||||||||||||||
Ordinary attributable profit to the Group | /4Q15 | /1Q15 | ||||||||||||||||||
|
|
|
|
|||||||||||||||||
million | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Continental Europe |
706 | 80.0 | 81.0 | 10.4 | 11.7 | |||||||||||||||
|
||||||||||||||||||||
o/w: Spain |
307 | 227.3 | 227.3 | (9.6 | ) | (9.6 | ) | |||||||||||||
|
||||||||||||||||||||
Santander Consumer Finance |
251 | 6.3 | 6.9 | 14.3 | 16.7 | |||||||||||||||
|
||||||||||||||||||||
Poland |
64 | 12.9 | 14.6 | (27.5 | ) | (24.5 | ) | |||||||||||||
|
||||||||||||||||||||
Portugal |
121 | 1.2 | 1.2 | 121.4 | 121.4 | |||||||||||||||
|
||||||||||||||||||||
United Kingdom |
453 | (4.7 | ) | 1.7 | (3.9 | ) | (0.3 | ) | ||||||||||||
|
||||||||||||||||||||
Latin America |
703 | 1.5 | 8.9 | (16.3 | ) | 7.9 | ||||||||||||||
|
||||||||||||||||||||
o/w: Brazil |
359 | 13.2 | 13.1 | (24.8 | ) | 0.4 | ||||||||||||||
|
||||||||||||||||||||
Mexico |
143 | (17.5 | ) | (10.0 | ) | (6.7 | ) | 10.3 | ||||||||||||
|
||||||||||||||||||||
Chile |
122 | 56.5 | 53.9 | 14.8 | 26.2 | |||||||||||||||
|
||||||||||||||||||||
USA |
82 | 347.5 | 427.4 | (68.2 | ) | (68.8 | ) | |||||||||||||
|
||||||||||||||||||||
Operating areas |
1,944 | 23.2 | 29.9 | (12.0 | ) | (2.8 | ) | |||||||||||||
|
||||||||||||||||||||
Corporate Centre |
(311 | ) | 161.9 | 161.9 | (36.7 | ) | (36.7 | ) | ||||||||||||
|
||||||||||||||||||||
Total Group |
1,633 | 11.9 | 18.5 | (4.9 | ) | 8.2 | ||||||||||||||
|
||||||||||||||||||||
Gross customer loans w/o repos | /4Q15 | /1Q15 | ||||||||||||||||||
|
|
|
|
|||||||||||||||||
million | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Continental Europe |
300,441 | 0.6 | 0.6 | 2.5 | 3.3 | |||||||||||||||
|
||||||||||||||||||||
o/w: Spain |
156,134 | (0.7 | ) | (0.7 | ) | (3.0 | ) | (3.0 | ) | |||||||||||
|
||||||||||||||||||||
Santander Consumer Finance |
79,136 | 3.4 | 3.1 | 9.8 | 11.3 | |||||||||||||||
|
||||||||||||||||||||
Poland |
20,467 | 3.3 | 3.2 | 7.0 | 11.5 | |||||||||||||||
|
||||||||||||||||||||
Portugal |
30,018 | (1.8 | ) | (1.8 | ) | 23.9 | 23.9 | |||||||||||||
|
||||||||||||||||||||
United Kingdom |
261,770 | (5.7 | ) | 1.7 | (5.0 | ) | 3.4 | |||||||||||||
|
||||||||||||||||||||
Latin America |
136,490 | (0.6 | ) | (1.5 | ) | (10.5 | ) | 6.1 | ||||||||||||
|
||||||||||||||||||||
o/w: Brazil |
63,875 | 0.4 | (4.1 | ) | (16.3 | ) | (1.4 | ) | ||||||||||||
|
||||||||||||||||||||
Mexico |
28,760 | (3.3 | ) | 0.2 | (3.6 | ) | 14.4 | |||||||||||||
|
||||||||||||||||||||
Chile |
34,320 | 3.0 | 1.6 | (3.5 | ) | 8.9 | ||||||||||||||
|
||||||||||||||||||||
USA |
84,897 | (4.0 | ) | 0.4 | (1.8 | ) | 4.0 | |||||||||||||
|
||||||||||||||||||||
Operating areas |
783,599 | (2.3 | ) | 0.5 | (3.0 | ) | 3.9 | |||||||||||||
|
||||||||||||||||||||
Total Group |
787,033 | (2.3 | ) | 0.6 | (3.2 | ) | 3.5 | |||||||||||||
|
||||||||||||||||||||
Funds (deposits w/o repos + mutual funds) | /4Q15 | /1Q15 | ||||||||||||||||||
|
|
|
|
|||||||||||||||||
million | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Continental Europe |
315,791 | 1.1 | 1.1 | 0.8 | 1.2 | |||||||||||||||
|
||||||||||||||||||||
o/w: Spain |
220,295 | 0.5 | 0.5 | (4.0 | ) | (4.0 | ) | |||||||||||||
|
||||||||||||||||||||
Santander Consumer Finance |
33,197 | 1.8 | 1.6 | 7.1 | 8.2 | |||||||||||||||
|
||||||||||||||||||||
Poland |
24,487 | 0.3 | 0.1 | 1.1 | 5.3 | |||||||||||||||
|
||||||||||||||||||||
Portugal |
30,589 | (0.3 | ) | (0.3 | ) | 22.1 | 22.1 | |||||||||||||
|
||||||||||||||||||||
United Kingdom |
216,318 | (6.7 | ) | 0.6 | (3.4 | ) | 5.1 | |||||||||||||
|
||||||||||||||||||||
Latin America |
160,927 | 1.6 | 1.1 | (6.4 | ) | 11.8 | ||||||||||||||
|
||||||||||||||||||||
o/w: Brazil |
80,383 | 4.7 | 0.0 | (6.3 | ) | 10.3 | ||||||||||||||
|
||||||||||||||||||||
Mexico |
37,245 | (0.7 | ) | 2.9 | (5.8 | ) | 11.8 | |||||||||||||
|
||||||||||||||||||||
Chile |
29,702 | 0.1 | (1.3 | ) | (7.5 | ) | 4.4 | |||||||||||||
|
||||||||||||||||||||
USA |
65,983 | (1.3 | ) | 3.2 | (3.5 | ) | 2.1 | |||||||||||||
|
||||||||||||||||||||
Operating areas |
759,018 | (1.4 | ) | 1.1 | (2.4 | ) | 4.5 | |||||||||||||
|
||||||||||||||||||||
Total Group |
760,628 | (1.8 | ) | 0.6 | (2.5 | ) | 4.4 | |||||||||||||
|
20
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of continental Europe. Spain
First quarter highlights
u | The number of 1|2|3 customers continued to grow, improving the risk profile and favouring new lending and loyalty. |
u | Strong rise in new loans to the main segments and higher stock in SMEs and companies. |
u | Attributable profit was lower year-on-year due to net interest income and gains on financial transactions. Good performance of fee income, costs and provisions. Net interest income was higher than in the fourth quarter. |
Commercial activity
| The 1|2|3 strategy is producing good results, improving the customer profile and impacting on new lending and loyalty. A total of 980,000 accounts for individuals were opened and gains in market share achieved in direct depositing of payroll cheques, number of pensions and cards billing. |
| The 1|2|3 SMEs account (75,000) also evolved well with a good pace of openings, switchers and cards. |
| The 1|2|3 customers, both individuals and SMEs, are more loyal and have a better risk profile and levels of pre-approved loans, which are feeding through to new lending and a lower cost of credit. |
| Santander Spain is the leader in customer satisfaction according to the 2015 Stiga survey, aided by measures taken during the year in digital as well as traditional channels. |
| Digital customers increased 23% in the last twelve months to 2.6 million, thanks to the continuous improvement in our digital offer. Of note were the new app functionalities of our online banking: pre-approved loans in three clicks, money transfer between mobile phones, management of cards (such as checking PIN, instant financing), approval of foreign trade lines. |
Business performance
| Lending continued to recover: new loans to individuals was up 30% and 13% to SMEs. |
| Loans dropped 3% in the last twelve months, due to reduced lending to public institutions and mortgages, where new loans still did not offset maturities. On the other hand, higher stock in SMEs and companies and stable Global Corporate Banking balances. |
| As for funds, we maintained the growth strategy in demand deposits (+8%) and mutual funds (+1%) and reduced time deposits (-28%), reflected in a lower cost of deposits. |
Results
Attributable profit was 10% lower than in the first quarter of 2015 at 307 million, as the favourable evolution of provisions, which continued on a downward trend, and control of costs, were offset by lower revenues.
| Gross income fell 12% year-on-year due to much lower gains on financial transactions (-26%), low interest rates and pressure on spreads on loans. Fee income, on the other hand, increased 2.5% (retail banking: +8%). |
| Operating expenses declined 2% year-on-year. These savings were compatible with investments in regulatory requirements and in improving our digital channels. |
| Loan-loss provisions declined 37% year-on-year, due to the enhanced credit quality and a favourable economic environment. The cost of credit improved 43 b.p. to 0.54% and the NPL ratio dropped to 6.36% from 7.25% in March 2015. |
Profit was three times higher than in the fourth quarter of 2015 thanks to the recovery of net interest income and fee income and the negative impact in the fourth quarter of charges for the deposit guarantee fund and resolution fund.
¢ Spain. million
/ 4Q15 | / 1Q15 |
| ||||||||||||
1Q16 | % | % | ||||||||||||
|
||||||||||||||
Gross income |
1,543 | 24.6 | (11.8 | ) | ||||||||||
|
||||||||||||||
Net operating income |
706 | 86.6 | (21.0 | ) | ||||||||||
|
||||||||||||||
Attributable profit to the Group |
307 | 227.3 | (9.6 | ) | ||||||||||
|
||||||||||||||
Loans w/o repos |
156,134 | (0.7 | ) | (3.0 | ) | |||||||||
|
||||||||||||||
Funds |
220,295 | 0.5 | (4.0 | ) | ||||||||||
|
||||||||||||||
Efficiency ratio (with amortisations) (%) |
54.2 | (15.2 | ) | 5.3 | ||||||||||
|
||||||||||||||
NPL ratio (%) |
6.36 | (0.17 | ) | (0.89 | ) | |||||||||
|
||||||||||||||
NPL coverage (%) |
50.2 | 2.1 | 3.6 | |||||||||||
|
21
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of continental Europe. Santander Consumer Finance
First quarter highlights
u | The integration of the agreement with Banque PSA Finance progressed well: the joint-ventures of Italy and Holland were incorporated during the first quarter. |
u | Greater activity year-on-year in the main countries: Spain, Germany and the Nordic countries. |
u | Attributable profit was 17% higher than in the first quarter of 2015 at 251 million. |
Commercial activity
| SCFs units in Continental Europe developed their activity in an environment of recovery in both consumption and car sales (+8% y-o-y). |
| SCF continued to gain market share, backed by a solid business model: highly diversified geographically with critical mass in key products, more efficient than our competitors and a common risk control and recovery system that keeps credit quality high. |
| Management focuses are: progress in the Banque PSA Finance agreement, increasing auto finance, boosting consumer finance by extending agreements with the main dealers and strengthening digital channels. |
Business performance
| New lending increased 24% in the last 12 months (+14% excluding Banque PSA Finance), fuelled by auto finance (+22% without Banque PSA Finance). Direct credit and consumer durable loans rose 4%. All units registered growth. |
| Customer deposits increased to 33,195 million, unlike our competitors. Wholesale funding was 1,222 million, via senior issues and securitisations. Deposits and medium and long-term issues-securitisations placed in the market covered 69% of net lending. |
Results
Attributable profit was 251 million, 36 million more (+17%) than in the same period of 2015 and 8% higher without Banque PSA Finance:
| The rise in gross income was mainly due to net interest income (+14% y-o-y). |
| Operating expenses increased in line with business and the new incorporations. |
| Loan-loss provisions declined and the cost of credit improved significantly to 0.64% from 0.93% a year earlier, thanks to the exceptional performance of portfolios. The NPL ratio was 3.28% (124 b.p. lower than in the first quarter of 2015) and the coverage ratio was 112% (+8 p.p.). |
| Of note by units was the higher attributable profit of Spain, Nordic countries, Poland and Italy. The increase was due in part to management and in part to the perimeter. |
Profit was 7% higher than in the fourth quarter of 2015 due to higher gross income.
¢ Santander Consumer Finance. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
1,045 | 4.8 | 5.3 | 9.0 | 10.9 | |||||||||||||||||
|
||||||||||||||||||||||
Net operating income |
562 | 6.0 | 6.5 | 4.6 | 6.5 | |||||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
251 | 6.3 | 6.9 | 14.3 | 16.7 | |||||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
79,136 | 3.4 | 3.1 | 9.8 | 11.3 | |||||||||||||||||
|
||||||||||||||||||||||
Funds |
33,197 | 1.8 | 1.6 | 7.1 | 8.2 | |||||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
46.2 | (0.6 | ) | 2.3 | ||||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
3.28 | (0.14 | ) | (1.24 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
111.9 | 2.8 | 8.3 | |||||||||||||||||||
|
22
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of continental Europe. Poland (changes on a currency-neutral basis)
First quarter highlights
u | Year-on-year rise in lending, with positive expectations for the economy. Focus remains on corporates and mortgages. |
u | Santander continues to be the market leader in cards, mobile and online banking. |
u | Main focus on managing revenues and costs in an environment of low interest rates. |
u | Regulatory changes with the bank levy introduced in February 2016 impacting on first quarter results. Estimated impact of 7 million per month. |
Commercial Activity
| The Banks main goal is to become the bank of first choice. We continued to be the market leader in cards, mobile and online banking, marketing various products and initiatives. |
| In the first quarter, the BZWBK24 mobile app, awarded several times as one of the best international and local apps, introduced an upgrade to the Pay to Mobile feature, which allows users to transfer money to a mobile number. Also, customers with mobile phones using the Android operating system will be able to make payments with Visa and Mastercard, and those on the Windows operating system will be able to exchange currency via the eFX platform. |
| BZWBK24 internet has developed the feature Customer Service, a section that offers customers an advisors guidance via many forms of contact. Moreover, in order to ensure customer confidentiality, the use of Phone Number Masking was added. |
| A first version of iBiznes24 mobile was introduced to allow corporate and SMEs customers manage their finances via mobile devices. |
Business Performance
| Net loans rose 11% year-on-year, backed by mortgages (+8%), credit cards (+21%) and also the corporate segment (+20%), with leasing (+23%) and factoring (+24%). |
| Deposits increased 9% year-on-year, mainly driven by individuals and corporate balances (+19%), with demand and time deposits also growing +11% and +6%, respectively. This evolution maintained our solid funding structure (net loan-to-deposit ratio of 92%). |
Results
The first quarter attributable profit of 64 million, 21 million less than in the same period of 2015, was due to lower income on ALCO sales and the bank levy introduced in February 2016.
This tax increases tax obligations of certain financial institutions, including banks, and is calculated as 0.44% of the total value of their assets. The estimated impact is about 7 million per month.
Excluding these impacts, of note in the first quarter was:
| Gross income rose 7%, driven by net interest income and backed by increased volumes. |
| Operating expenses remained flat and loan-loss provisions were 12% lower. Significant improvement in credit quality. The NPL ratio improved to 5.93% (7.33% in March 2015) and the cost of credit stood at 0.82% from 1.00% in March 2015 |
Attributable profit rose 15% compared to the fourth quarter of 2015, mainly driven by lower provisions and the contribution to the Deposit Guarantee Fund made in the fourth quarter of 2015.
¢ Poland. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
311 | 6.5 | 8.7 | (8.6 | ) | (4.9 | ) | |||||||||||||||
|
||||||||||||||||||||||
Net operating income |
166 | 11.6 | 13.8 | (12.4 | ) | (8.8 | ) | |||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
64 | 12.9 | 14.6 | (27.5 | ) | (24.5 | ) | |||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
20,467 | 3.3 | 3.2 | 7.0 | 11.5 | |||||||||||||||||
|
||||||||||||||||||||||
Funds |
24,487 | 0.3 | 0.1 | 1.1 | 5.3 | |||||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
46.6 | (2.4 | ) | 2.3 | ||||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
5.93 | (0.37 | ) | (1.40 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
67.0 | 3.0 | 5.4 | |||||||||||||||||||
|
23
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of continental Europe. Portugal
First quarter highlights
u | Focus on technological and operational integration of Banifs business. |
u | Commercial actions aimed at capturing individual customers and companies. |
u | Attributable profit doubled year-on-year, partly due to the incorporation of Banifs business. |
Commercial activity
| Santander Totta acquired in December 2015 most of the assets and liabilities of Banco Internacional do Funchal (Banif), making it the countrys second-largest private sector bank (market share around 14% in loans and deposits). |
| In the first quarter priority was given to Banifs technological and operational integration, continuing the commercial actions aimed at increasing the number of loyal and digital customers, improving the quality of service and growing the business volumes, particularly companies, which remained dynamic. |
| In the middle-income market segment, we continued to support the 1|2|3 World programme to capture and engage customers. The number of accounts, credit cards and protection insurance increased significantly. |
| Management of net interest income and control of NPLs continued to be the drivers for benefiting from the improvement in the economic cycle and further supporting companies and households. |
Business performance
| Lending rose 24% to 30,000 million. The incorporation of Banifs balances resulted in a change in its structure, increasing the weight of the companies segment to 35% (31% in March 2015). On a like-for-like basis, excluding this incorporation, balances were 2% lower (better performance than the market according to the latest figure). |
| Funds increased 22% to 30,600 million, mainly due to the incorporation of Banifs deposits. On a like-for-like basis, total funds rose 4%, consistent with management focused on reducing the cost of deposits. |
| The business performance produced a market share gain in loans and deposits. |
Results
The first quarter attributable profit was 121 million, more than double that in the same period of 2015 (+121%).
| Positive impact throughout the income statement of Banifs incorporation: net interest income and fee income increased 30% (combined). Operating expenses rose 25%. |
| Gross income was bolstered by financial transactions originated by the sale of portfolios. |
| Loan-loss provisions rose only 2%, despite the greater perimeter. The cost of credit improved to 0.28%. |
Profit was 1% higher than in the fourth quarter of 2015, when the gains generated by the sales of public debt were very high.
¢ Portugal. million
/ 4Q15 | / 1Q15 | |||||||||||||
1Q16 | % | % | ||||||||||||
|
||||||||||||||
Gross income |
337 | 5.9 | 41.5 | |||||||||||
|
||||||||||||||
Net operating income |
183 | (5.2 | ) | 59.6 | ||||||||||
|
||||||||||||||
Attributable profit to the Group |
121 | 1.2 | 121.4 | |||||||||||
|
||||||||||||||
Loans w/o repos |
30,018 | (1.8 | ) | 23.9 | ||||||||||
|
||||||||||||||
Funds |
30,589 | (0.3 | ) | 22.1 | ||||||||||
|
||||||||||||||
Efficiency ratio (with amortisations) (%) |
45.7 | 6.4 | (6.1 | ) | ||||||||||
|
||||||||||||||
NPL ratio (%) |
8.55 | 1.09 | (0.41 | ) | ||||||||||
|
||||||||||||||
NPL coverage (%) |
87.7 | (11.3 | ) | 35.3 | ||||||||||
|
24
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
United Kingdom (changes in sterling)
First quarter highlights
u | The 1I2I3 World customers continued to grow, with improved customer loyalty, activity levels and risk profile. |
u | Strong business flows in retail and corporates, with growth in current accounts and mortgages as well as corporate lending. |
u | Digitalisation and product simplification supporting operational efficiency. |
u | Profit before tax increased 14% y-o-y, supported by strong business momentum, stable expenses and lower provision charges. Attributable profit was broadly flat, impacted by 8% bank new corporate tax surcharge. |
Commercial activity
| 1/2/3 World customers increased by 131,000 to 4.8 million since the end of 2015. Growth in retail current account balances of £3.6bn, maintaining £1bn monthly average since the end of 2012. |
| Loyal corporate and SME customers increased by more than 25,000 since March 2015, backed by new platforms and services in the corporate business. |
| Digital customers also increased to 4.2 million, underpinned by continuous improvement in our digital proposition. In March 2016, Santander UK became the first UK bank to introduce voice banking technology to the mobile app. |
| Ongoing improvement in customer satisfaction, with continued focus on further improvement. |
| Santander UK is focused on maintaining a strong balance sheet. At the end of March 2016, the CRD IV end point Common Equity Tier 1 capital ratio stood at 11.6% and the leverage ratio at 4.0%. |
Business performance
| Customer lending increased 3% compared to March 2015, largely due to lending to companies (+11%), mortgages (+3%) and consumer credit (+6%). New gross mortgage lending was £7,100 million, up 12% year-on-year, and includes £900 million to first time buyers. In 2016, growth in new gross mortgage lending is expected to be in line with the market. |
| Strong growth in customer deposits excluding repos (+6% over March 2015) was driven by increased 1/2/3 current accounts, more than offsetting lower demand for savings products. |
Results
First quarter attributable profit of £349 million was almost unchanged from the same period of 2015, mostly due to higher taxes due to the introduction of the bank new corporate tax surcharge. Profit before tax increased by 14% in the same period.
| Net interest income remained broadly unchanged year-on-year (+0.2%) with a small decline in net interest income / average customer assets (banking NIM), partially offset by higher asset volumes. |
| The decline in banking NIM to 1.78%, from 1.87% in the first quarter of 2015 (1.80% in the fourth quarter of 2015), was driven by new asset margin pressures (from competitive pressures) and continued SVR attrition. |
| Fee income was affected by regulatory impacts on cards and investment income. Excluding these impacts, fee income rose 10%. |
| Operating expenses were broadly flat as efficiency improvements absorbed investments in business growth, and the continued enhancements to our digital channels. Moreover, excluding the costs related to banking reform, they would have decreased 3% y-o-y. |
| Loan-loss provisions fell 91% year-on-year as credit quality remained robust in all loan portfolios, due to conservative risk criteria and benign economic environment. The NPL ratio improved to 1.49% in the first quarter of 2016, from 1.75% in the same period of 2015. |
Profit before tax was 13% higher over the fourth quarter of 2015, with stable gross income and expenses, and lower provisions.
¢ United Kingdom. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
1,513 | (5.5 | ) | 0.9 | (2.4 | ) | 1.2 | |||||||||||||||
|
||||||||||||||||||||||
Net operating income |
719 | (4.7 | ) | 1.8 | (1.1 | ) | 2.6 | |||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
453 | (4.7 | ) | 1.7 | (3.9 | ) | (0.3 | ) | ||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
261,770 | (5.7 | ) | 1.7 | (5.0 | ) | 3.4 | |||||||||||||||
|
||||||||||||||||||||||
Funds |
216,318 | (6.7 | ) | 0.6 | (3.4 | ) | 5.1 | |||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
52.4 | (0.4 | ) | (0.6 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
1.49 | (0.03 | ) | (0.26 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
36.5 | (1.7 | ) | (4.7 | ) | |||||||||||||||||
|
25
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of Latin America. Brazil (changes on a currency-neutral basis)
First quarter highlights
u | Focus on commercial transformation: more digital and loyal customers, and improved customer experience. |
u | Higher growth in funds than in loans, which slowed down, in line with the market. |
u | Attributable profit of 359 million, with positive trend in gross income and control of costs. |
u | Loan-loss provisions increased y-o-y, but were down over the third and fourth quarters. The cost of credit was 4.6%. |
Commercial activity
The strategy remained based on an intense agenda of commercial transformation, focusing on digitalisation, loyalty and customer satisfaction. Of note:
| In the multi-channel strategy, we launched a digital attention channel for customers of the Van Gogh and small companies segments, and the purchase of 100% of ContaSuper, a digital pre-payment platform for payments and transfers. |
| Digital customers increased 16% y-o-y, to over 4.6 million at the end of March. In April the number of customers who registered with biometric identification surpassed one million (120,000 in December 2015). |
| We extended the offer for the segment of Santander Negocios & Empresas to companies with an annual turnover of BRL 200 million (previously BRL 80 million). |
| We are the bank with the lowest index of complaints among our main private sector bank competitors, reflecting the improvements we have been implementing in our services. |
| We strengthened control of risks with preventative actions, while continuing to change the business mix of our credit portfolio toward lower risk products. |
Business performance
| Amid a weak economic environment, lending dropped 1% year-on-year. By segment: loans to individual customers rose 8%, notably mortgages (+17%). On the other hand, consumer finance and loans to large companies declined. |
| Funds grew 10%: mutual funds (+21%) and time deposits (+1%). |
Results
Despite the recession, the Group showed the strength of its results, and posted attributable profit of 359 million, in line with that of the first quarter of 2015:
| Gross income rose 6%: net interest income up 6% and fee income 8%, thanks to current accounts and global corporate banking. |
| Operating expenses increased 6.6%, below the inflation rate (9.4% in March). This evolution underscored the improvement in efficiency and productivity. |
| Loan-loss provisions rose 16% year-on-year, as those in the first quarter of 2015 were relatively low. Lower over the third and fourth quarters of 2015. |
| Credit quality indicators remained stable: the cost of credit was 4.63% (4.50% in December) and the NPL ratio was 5.93% (5.98% in December 2015). The NPL ratio is performing much better than the whole of private sector banks, reflecting the change of mix carried out in recent years and adequate risk management. |
Profit was 13% higher than in the fourth quarter, due to provisions, and gross income stable. despite the first quarters usual negative seasonal impact.
¢ Brazil. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
2,381 | (4.7 | ) | (2.3 | ) | (20.8 | ) | 5.8 | ||||||||||||||
|
||||||||||||||||||||||
Net operating income |
1,434 | (0.3 | ) | 1.4 | (21.2 | ) | 5.3 | |||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
359 | 13.2 | 13.1 | (24.8 | ) | 0.4 | ||||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
63,875 | 0.4 | (4.1 | ) | (16.3 | ) | (1.4 | ) | ||||||||||||||
|
||||||||||||||||||||||
Funds |
80,383 | 4.7 | 0.0 | (6.3 | ) | 10.3 | ||||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
39.8 | (2.6 | ) | 0.3 | ||||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
5.93 | (0.05 | ) | 1.03 | ||||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
83.7 | | (11.5 | ) | ||||||||||||||||||
|
26
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of Latin America. Mexico (changes on a currency-neutral basis)
First quarter highlights
u | Commercial focus on the most profitable segments (Select, SMEs, companies), greater use of digital banking and the quality of service. |
u | The commercial strategy continues to be reflected in the growth in business volumes (+14%, with a gain in market share of 0.4 p.p.) and funds (+12%, with demand deposits up 24%). |
u | Year-on-year growth in attributable profit (+10%) mainly leveraged on net interest income (+18%). |
Commercial activity
Various commercial actions were taken in the first quarter in different segments, including:
| A new commercial project with strong potential to grow revenues was launched: Santander Aeroméxico Card, in an alliance with Mexicos leading airline. |
| Multi-channel activity continued to be fostered (42 new ATMs in the first quarter, mobile and online banking initiatives) and development of strategic alliances with correspondent banks, which enabled us to offer our basic banking services via a network of 17,863 shops. |
| At the end of March there were over 900,000 digital customers, over 30% more year-on-year. |
| In mortgages, we continued to strengthen business via competitive commercial actions. Also, a campaign was launched for SMEs with an excellent credit profile in order to increase their loyalty and retain them. |
| In companies and institutions, we continued to work on commercial initiatives, focusing more on attracting and penetrating the automotive sector, petrol stations and confirming and payroll products. |
Business performance
| All these measures fuelled lending growth by 14% y-o-y. Loans to SMEs rose 13%, mortgages 11% and companies 22%. Consumer credit rose 27% and credit cards 14%, the latter setting new placement records. |
| Deposits grew and their composition improved, fuelled by the 25% increase in demand deposits. Both, in loans and deposits, Santanders pace of growth was higher than the markets. |
Results
Attributable profit was up 10% y-o-y at 143 million.
| Gross income increased 14% year-on-year, mainly due to the 18% rise in net interest income (reflecting the credit growth). Fee income rose 6%. Of note was that from insurance, cash management, securities and advising. Gains on financial transactions, on the other hand, declined 5% due to the markets persistent sluggishness. |
| Operating expenses grew 7% because of greater installed capacity and new commercial projects to boost attracting and customer loyalty. |
| The cost of credit remained basically flat and credit quality ratios improved notably: the NPL ratio was down 65 b.p. over March 2015 and coverage up 9 p.p. |
Profit was 10% lower than in the fourth quarter (seasonally higher) due to higher costs and provisions, though gross income was slightly higher.
¢ Mexico. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
792 | (6.8 | ) | 1.3 | (3.2 | ) | 14.4 | |||||||||||||||
|
||||||||||||||||||||||
Net operating income |
470 | (8.9 | ) | (0.8 | ) | 1.4 | 19.9 | |||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
143 | (17.5 | ) | (10.0 | ) | (6.7 | ) | 10.3 | ||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
28,760 | (3.3 | ) | 0.2 | (3.6 | ) | 14.4 | |||||||||||||||
|
||||||||||||||||||||||
Funds |
37,245 | (0.7 | ) | 2.9 | (5.8 | ) | 11.8 | |||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
40.7 | 1.3 | (2.7 | ) | ||||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
3.06 | (0.32 | ) | (0.65 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
97.5 | 6.9 | 9.1 | |||||||||||||||||||
|
27
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Main units of Latin America. Chile (changes on a currency-neutral basis)
First quarter highlights
u | The focus remains on the quality of customer attention. Increase in loyal transaction banking customers. |
u | The commercial transformation is reflected in greater activity in the target segments of loans and funds. |
u | Attributable profit of 122 million (+26% year-on-year). |
Commercial activity
Santander is the largest bank in Chile in terms of assets and customers, with a clear retail focus (individuals and SMEs). The Group maintains its strategy of ensuring long-term profitability against a backdrop of lower spreads and tougher regulation.
| The bank aspires to become the countrys best through improving the quality of customer attention, transforming the retail banking segment and strengthening business with large and medium companies. |
| The progress made in improving customer satisfaction has enabled us to narrow the gap in quality of service with our main competitors. This was achieved by streamlining the internal processes and adjusting them to a digital and omni channel environment. |
| These actions are boosting the number of customers and business. Total customers grew 1% year-on-year. Of note was the growth in loyal customers (+6% individuals and +11% companies). |
| The number of digital customers surpassed 900,000 in March (+5 % y-o-y). |
Business performance
| Loans rose 9% in the last twelve months, particularly those to high-income customers (+21%) and SMEs (+10%). Mortgage loans also performed well and they increased 19%. |
| Deposits rose 6% year-on-year, notably demand deposits (+9%). |
Results
Attributable profit was 26% higher than in the first quarter of 2015 at 122 million, due to:
| Gross income rose 11%, backed by the 16% growth in net interest income and the 11% rise in fee income, partially offset by the drop in gains on financial transactions. |
| Net interest income was fuelled by higher volumes, the lower cost of funding from deposits and inflation that was higher than in the first quarter of 2015. Of note in fee income were the rises in that from means of payment and cash management. |
| Operating expenses rose 9% due to increases resulting from indexation to year-on-year inflation of rentals and salaries, as well as the impact of the pesos depreciation on technology service contracts indexed to the dollar and the euro and greater investment in technology developments. |
| Loan-loss provisions were 9% lower. The cost of credit fell to 1.58%, the NPL ratio was 5.45% and coverage 55%. Both ratios improved in the last 12 months. |
Profit was 54% higher than the fourth quarter, basically due to lower costs (the fourth quarters are seasonally higher) and reduced provisions.
¢ Chile. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
556 | 2.4 | 3.3 | 0.5 | 10.5 | |||||||||||||||||
|
||||||||||||||||||||||
Net operating income |
321 | 13.4 | 13.7 | 1.7 | 11.8 | |||||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
122 | 56.5 | 53.9 | 14.8 | 26.2 | |||||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
34,320 | 3.0 | 1.6 | (3.5 | ) | 8.9 | ||||||||||||||||
|
||||||||||||||||||||||
Funds |
29,702 | 0.1 | (1.3 | ) | (7.5 | ) | 4.4 | |||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
42.3 | (5.6 | ) | (0.7 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
5.45 | (0.17 | ) | (0.43 | ) | |||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
54.6 | 0.7 | 2.6 | |||||||||||||||||||
|
28
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Other Latin American units. Argentina (changes on a currency-neutral basis)
First quarter highlights
u | Growth and trends in loans and deposits higher than the market. |
u | Attributable profit was 37% higher year-on-year thanks to net interest income and fee income. |
u | Commercial revenues grew because of greater activity and transactions (collections, means of payment, etc). |
u | Operating expenses increased because of the larger branch network and transformation projects. |
Commercial activity and Business performance
Santander continued to focus on implementing the multi-channel projects, Select and Pymes Advance with the aim of gaining market share in the main products, improve the quality of customer attention and be more efficient in the use of resources.
| The Select products were strengthened for high income customers and new specialised spaces and corners continued to be opened, which increased the cross-selling, transaction loyalty and profitability of these customers. |
| The expansion and transformation plan continued. Three new branches were opened during the first quarter and 164 have been totally transformed. |
| The first fully digital office also began to operate in January. The Santander Río Mobile app reached 387,000 customers. |
| Lending rose 44% in 12 months, notably to companies and consumer credit. Deposits increased 63% (demand: +53% and time:+77%). Market share gain in lending and deposits in the last twelve months. |
Results
First quarter attributable profit of 67 million (+37% over the same period of 2015).
| The commercial strategy is reflected in a 34% increase in gross income, 16% in net interest income and 36% in fee income. |
| Operating expenses were up 37% because of expanding the branch network, transformation and technology projects, and salary increases. |
| Loan-loss provisions increased below the pace of lending, improving the cost of credit by 28 b.p.. Credit quality was still high (NPL ratio of 1.21% and coverage of 194%). |
Pre-tax profit was 14% more than in the fourth quarter, due to higher gross income and lower provisions.
Other Latin American units. Peru (changes on a currency-neutral basis)
First quarter highlights
u | Activity remained strong, both loans and deposits. |
u | Attributable profit was 19% higher year-on-year at 7 million |
Commercial activity and Business performance
| The strategy continued to focus on the corporate segment, the countrys largest companies and the Groups global customers. |
| A close customer relationship and quality of service were fostered, taking advantage of synergies with other Group units. |
| Our auto finance company was further consolidated. |
| Lending rose 10% year-on-year and deposits 25%. |
Results
| Attributable profit was 7 million. Gross income rose 3%, fuelled by net interest income (+15%) and fee income (+51%) which offset the lower gains on financial transactions eroded by exchange rate volatility. Operating expenses rose 12%, which improved the efficiency ratio to 36%. |
| Loan-loss provisions declined 35%. Credit quality remained excellent (NPL ratio of 0.42% and very high coverage). |
29
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Other Latin American units. Uruguay (changes on a currency-neutral basis)
First quarter highlights
u | Double-digit growth in deposits and loans. |
u | Attributable profit up 65% year-on-year (+41% without the perimeter effect) and 49% more than the fourth quarter, spurred by gross income. |
Commercial activity
The Group continued to be the countrys leading private sector bank, with a strategy of growth in retail banking, enhancing efficiency and quality of service.
| Santander remained focused on improving customer satisfaction and increasing customer loyalty. Celestium, a CRM with a comprehensive view of the customer profile, was installed which provides information on customers relation with the bank, the channels they use and the offer of potential products for each of them. |
| In line with the task of improving the quality of service, differentiated service is offered in branches for SMEs and for the Select segment. |
| The number of digital customers rose 48% in the first quarter to almost 100,000. |
| The perimeter effect relates to the acquisition in July 2015 of Créditos de la Casa, Uruguays fourth largest financing company, which operates throughout the country. |
Business performance
| Lending grew 24% year-on-year, with consumer credit up 55% and loans to SMEs 28%. Excluding the perimeter impact, loans rose 21% and consumer credit 14%. |
| Deposits increased 35% (demand: +32% and time: +76%). |
Results
The growth in business activity produced sharp increase in profits.
Attributable profit was 65% higher year-on-year at 22 million and 41% on a like-for-like basis. Growth was due to the 31% rise in net interest income, which more than offset the rise in operating expenses.
| Credit quality was excellent (NPL ratio of 1.08% and coverage of 240%). |
| The efficiency ratio continued to improve, to 50%, 8 p.p. better than in March 2015. |
Profit was 49% more than in the fourth quarter, due to higher revenues and lower costs.
u Other Latin American units. Colombia
| Banco Santander de Negocios Colombia began to operate in January 2014. The new bank has a banking licence and share capital of $100 million. It specializes in the corporate and business market, with a particular focus on global customers, customers of the Groups International Desk and those local customers in the process of internationalising. |
| Its main products are for investment banking and capital markets, transaction banking, treasury and risk coverage, foreign trade financing and working capital financing products in local currency, such as confirming. |
| The bank reached the point of equilibrium between revenues and costs in the first quarter of 2016. |
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FINANCIAL REPORT 2016 | ||
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Business information by geography |
United States (changes in dollars)
First quarter highlights
u | Continued investment to improve commercial activity and comply with regulatory requirements. |
u | Santander Bank continues to focus on deepening its relationships with retail and commercial customers, reflected in a change of mix |
u | Santander Consumer USA significantly grew in new lending and servicing activity. |
u | Attributable profit was lower year-on-year, due to increased costs and provisions, partly due to the temporary impact of some measures. Profit rose over the fourth quarter of 2015. |
Strategy
| Santander in the United States includes the holding SHUSA, Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. |
| Santander US continued to focus on several strategic priorities aimed at improving their position and diversification in the US, including: |
A multiannual project to comply with regulatory requirements.
Improve governance structure, including the creation of the Intermediate Holding Company (IHC).
Create a local executive team with wide experience in managing a financial institution in the US.
Improve the profitability of Santander Bank NA.
Optimize the auto finance business of Santander Consumer USA.
Business performance
| Santander Bank continues to focus on deepening its relationships with retail and commercial customers. Deposits rose 6% year-on-year and loans 5%. |
| Santander Consumer USA continued its strategy to optimize the mix between assets retained vs. sold, increasing servicing to third parties. Loans rose 5% year-on-year and assets under service 27%. |
Results
The first quarter attributable profit was $90 million, a sharp fall over the same period of 2015 due to the temporary impact of some measures (creation of the holding entity, investment in the franchise, priority given to consumer business, etc.), as follows:
| Good performance of gross income. Net interest income rose 4% and fee income 6%. In Santander Consumer USA due to the larger volume of portfolios. which spurred net interest income as well as fee income from servicing. In Santander Bank, net interest income increased 3%, following the interest rates increase in December. Fee income rose 3%. |
| Operating expenses rose year-on-year due to the efforts made in regulatory compliance, IT investments and greater leasing activity, but they were lower than in the fourth quarter and showed signs of slowdown. |
| Loan-loss provisions rose 32%, due to the higher level of retention of loans in Santander Consumer USA and provisions in Santander Bank for the Oil&Gas sector, in line with the banking industry. |
Attributable profit increased over the fourth quarter of 2015, due to lower costs and provisions. The latter mainly in Santander Consumer USA, where they were below the third and fourth quarters of 2015.
¢ United States. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||||
|
||||||||||||||||||||||
Gross income |
1,968 | (0.6 | ) | 0.1 | 5.4 | 3.2 | ||||||||||||||||
|
||||||||||||||||||||||
Net operating income |
1,191 | 3.4 | 4.2 | 1.6 | (0.5 | ) | ||||||||||||||||
|
||||||||||||||||||||||
Attributable profit to the Group |
82 | 347.5 | 427.4 | (68.2 | ) | (68.8 | ) | |||||||||||||||
|
||||||||||||||||||||||
Loans w/o repos |
84,897 | (4.0 | ) | 0.4 | (1.8 | ) | 4.0 | |||||||||||||||
|
||||||||||||||||||||||
Funds |
65,983 | (1.3 | ) | 3.2 | (3.5 | ) | 2.1 | |||||||||||||||
|
||||||||||||||||||||||
Efficiency ratio (with amortisations) (%) |
39.5 | (2.3 | ) | 2.2 | ||||||||||||||||||
|
||||||||||||||||||||||
NPL ratio (%) |
2.19 | 0.06 | (0.01 | ) | ||||||||||||||||||
|
||||||||||||||||||||||
NPL coverage (%) |
221.1 | (3.9 | ) | 9.6 | ||||||||||||||||||
|
31
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Business information by geography |
Corporate Centre
First quarter highlights
u | The corporate centres objectives is to improve efficiency and contribute value-added to the operating units. It also carries out functions related to financial management and capital. |
u | In year-on-year terms, lower loss as a result of higher net interest income and reduced costs and provisions. |
Strategy and functions
The corporate centre contributes value to the Group in several ways:
| It makes the Groups governance more solid, through control frameworks and global supervision, and the taking of strategic decisions. |
| It makes the Groups units more efficient, fostering the exchange of the best practices in management of costs and economies of scale. This enables us to be among the most efficient banks. |
| By sharing the best commercial practices, launching global commercial initiatives and spurring digitalization, the corporate centre contributes to the Groups revenue growth. |
It also develops functions related to financial management and capital, as follows:
| Functions carried out by the Financial Management area: |
| Structural management of liquidity risk associated with funding the Groups recurring activity, equity stakes of a financial nature and management of net liquidity related to the needs of some business units. |
| This activity is carried out by diversifying the funding sources (issues and others), maintaining an appropriate risk profile (volumes, maturities and costs). The price at which these operations with other Group units are carried out is the market rate (euribor or swap) plus the premium which, in the concept of liquidity, the Group bears for the immobilisation of funds during the life of the operation. |
| Active management of interest rate risk to soften the impact of interest rate changes on net interest income, conducted via derivatives of high credit quality, very liquid and low capital consumption. |
| Strategic management of the exposure to exchange rates on equity and dynamic in the countervalue of results in euros for the next 12 months of the units. Net investments in equity are currently covered by 19,825 million (Brazil, UK, Mexico, Chile, US, Poland and Norway) with various instruments (spot, fx or forwards). |
| Total management of capital and reserves: assigning capital to each of the units. |
Lastly, and marginally, Corporate Activities reflects the stakes of a financial nature that the Group has under its policy of optimizing investments.
Results
Loss of 311 million in the first quarter compared to one of 491 million in the same period of 2015, mainly due to:
| Gross income: the financial margin was in line with the average for 2015 and improving year-on-year, due to the lower cost of wholesale funding. |
| Costs were 126 million, below the 2015 average, in line with streamlining and simplifying in 2015 the corporate centres structures. |
| Other income: reduced losses and taxes year-on-year. |
¢ Corporate Centre. million
1Q16 | 4Q15 | % Var. | 1Q15 | % Var. | ||||||||||||||||
|
||||||||||||||||||||
Gross income |
(223 | ) | (32 | ) | 598.8 | (230 | ) | (2.8 | ) | |||||||||||
|
||||||||||||||||||||
Net operating income |
(349 | ) | (144 | ) | 142.3 | (372 | ) | (6.1 | ) | |||||||||||
|
||||||||||||||||||||
Ordinary attributable profit to the Group |
(311 | ) | (119 | ) | 161.9 | (491 | ) | (36.7 | ) | |||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
(311 | ) | (1,554 | ) | (80.0 | ) | (491 | ) | (36.7 | ) | ||||||||||
|
32
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Information by global business |
Retail Banking (on a currency-neutral basis)
First quarter highlights
u | We continued to transform our commercial banking model into one that is increasingly more Simple, Personal and Fair. |
u | Focused on three main priorities: customer loyalty, digital transformation and operational excellence. |
u | The Group had 14.0 million loyal customers at the end of March and 17.8 million digital customers. Of note was the drive to develop digital channels. |
u | Attributable profit of 1,554 million, 7% less than in the first quarter of 2015. |
Commercial activity
In order to have 18 million loyal customers and 30 million digital customers in 2018, the Retail Banking division continued the Groups commercial transformation at a brisk pace, focused on three main priorities: customer loyalty, digital transformation and operational excellence.
| The following contributed to the continuous improvement in customer loyalty, among others: |
- | The 1/2/3 strategy continued to be well received in Spain and Portugal, with the opening of 186,000 and 27,000 new accounts respectively. Also in the UK, where the account was launched four years ago, it keeps growing strongly. |
- | The Network Banking project and the initiatives implemented to support our customers international business, continued making progress at a good pace (Santander Trade, with over 45,000 users and 225,000 logins per month; the Club, with over 11,000 members, and the International Desk with more than 8,500 registered customers). |
- | The roll out and consolidation of the NEO CRM commercial tools in various units, successfully installed in the US, Uruguay and Argentina, and the financial planner in Chile. |
- | New value proposals, such as the agreement between Santander Mexico and Aeroméxico to launch an innovative credit card. Also noteworthy was the Exprés card in Brazil which received the 2015 Best Practices award from the Brazilian Association of Credit Card and Services Companies. |
- | The magazine Euromoney chose Santander as the Best Private Bank in Portugal and Chile. |
| Of in digital transformation was the implementation of Biometrics, the new online bank for companies in Spain and the first digital office in Argentina, the possibility to transfer money to a mobile number or make payments with a mobile phone in Poland, voice technology banking in the UK, the Opción Seguro in Portugal and an app to use the Banks point-of-sale terminals in Brazil. |
| Lastly, in order to improve customer satisfaction and experience, we are driving our operational excellence, including new processes that are simpler, more efficient and omni-channel, developed with Agile methodology. As a result, the bank ranked higher in customer satisfaction indices. Santander Spain was recognised in the first quarter of 2016 as the Best Bank in Quality of Service in Spain in the latest 2015 EQUOS study conduced by the independent consultancy Stiga. |
Results
Attributable profit in the first quarter was 1,554 million, 7% less year-on-year. Good evolution of net interest income and fee income (+6% combined) not reflected in profits because of the sharp drop in gains on financial transactions (-47%) and higher costs.
Profit was 20% higher than in the fourth quarter of 2015. Good performance of gross income (contribution in the fourth quarter to the guarantee and resolution funds), costs and provisions.
¢ Retail Banking. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||
|
||||||||||||||||||||
Gross income |
9,552 | 0.2 | 3.7 | (6.2 | ) | 3.7 | ||||||||||||||
|
||||||||||||||||||||
Net operating income |
5,060 | 5.6 | 8.6 | (8.7 | ) | 0.6 | ||||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
1,554 | 15.1 | 20.2 | (14.1 | ) | (6.6 | ) | |||||||||||||
|
||||||||||||||||||||
Loans w/o repos |
684,191 | (2.5 | ) | 0.6 | (2.2 | ) | 4.6 | |||||||||||||
|
||||||||||||||||||||
Funds |
695,301 | (2.2 | ) | 0.4 | (1.8 | ) | 5.0 | |||||||||||||
|
33
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Information by global business |
Santander Global Corporate Banking (SGCB) (on a currency-neutral basis)
First quarter highlights
u | Reference positions in export finance, corporate loans and project finance, among others, in Europe and Latin America. |
u | Gross income rose 9% and costs improved following the investments made in 2015. |
u | Pre-tax profit rose 11%. After deducting tax and minority interests, attributable profit was 454 million (+8% year-on-year). |
Commercial activity and business performance
Of note in the first quarter were the following:
| Trade finance: growing demand for confirming products and receivable purchase programmes. Export finance continued to advance, supported by new customers in new markets and the success in the business development of project finance. The Group is a world reference (third in global league tables). |
| Cash management: positive business evolution. Noteworthy transaction business and capturing funds. We won mandates, strengthening our Latin American and European leadership. |
| Syndicated corporate loans: we continue to be the reference in Europe and Latin America. Of note was the support for Shires $18bn bridge loan for the merger with Baxalta. |
| In the debt capital markets, we took part in major operations, particularly the AB Inbev issues, in the US and European markets. |
| In project finance, Santander is a leader in Spain and Latin America, developing traditional operations (SunPower in the US). We are also helping to transform the market with operations that are less capital intensive. Noteworthy were the placement of project bonds for Grupo Ferrovial (Ausol), the issuance of stock market certificates for a motorway concession in Mexico and refinancing of Itineres corporate debt. |
| Asset-based finance: good start to the year with the completion of asset finance operations in Asia and Spain. Business continued to be developed in the transport sector with leasing operations, energy efficiency and designing financing solutions for customers in the infrastructure sector. |
| In markets, positive evolution of revenues from sales business, particularly in the corporate segment, with strong growth in Brazil and Spain. Reduced year-on-year contribution in management of books, in a complex environment. |
Results
Results were spurred by the strength and diversification of customer revenues (87% of the total). The area accounted for 13% of the revenues of the Groups operational areas and 23% of attributable profit in the first quarter.
| Gross income grew 9%. Customer revenues rose 13% with all businesses performing well (Global Markets: +27%; Financing Solutions & Advisory: +6%; Global Transaction Banking: +5%). |
| Operating expenses were lower following the investments made in 2015 in high potential markets, particularly in the UK, Spain and the US. Higher provisions, mainly in Spain and the US. |
Gross income was 8% higher than in the fourth quarter and attributable profit 32%.
¢ Santander Global Corporate Banking. million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
1Q16 | % | % w/o FX | % | % w/o FX | ||||||||||||||||
|
||||||||||||||||||||
Gross income |
1,403 | 2.3 | 8.1 | (3.6 | ) | 9.4 | ||||||||||||||
|
||||||||||||||||||||
Net operating income |
917 | 7.8 | 15.0 | (0.9 | ) | 15.6 | ||||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
454 | 23.1 | 32.1 | (6.4 | ) | 7.7 | ||||||||||||||
|
||||||||||||||||||||
Loans w/o repos |
93,521 | (0.5 | ) | 0.5 | (5.9 | ) | 1.3 | |||||||||||||
|
||||||||||||||||||||
Funds |
63,573 | 8.2 | 9.2 | (7.6 | ) | (0.4 | ) | |||||||||||||
|
34
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Corporate Governance |
Institutional information
In order to encourage the informed participation of shareholders at the general meeting of shareholders on March 18, 2016, all the relevant reports of administrators and other documentation were published in the Groups website (www.santander.com), as well as the 2015 annual report and the reports of the auditing, appointments, remuneration, risk supervision, regulation and compliance committees.
These reports set out the main activities of the board and its committees in 2015, including detailed information on the rules and procedures upon which the Banks corporate governance model is based.
General meeting of shareholders
| The Banks general meeting of shareholders was held on March 18, which was attended (physically and represented) by 541,072 shareholders holding 8,318,158,012 shares (57.63% of the capital stock and hence a quorum). |
| The agreements submitted to voting were approved on average by 93.49% of the votes cast (94.46% for the Banks social management during 2015). |
| The remuneration policy for directors for 2016, 2017 and 2018 was submitted to a binding vote and approved by 91.47% of votes. This policy covers the remuneration for being a director and for the executive functions carried out for these years. It envisages the fixed annual remuneration and its variation in the period to which the policy refers, as well as various parameters for setting the variable components of the remuneration. It also includes the main terms and conditions of executive directors contracts. |
| Investors and analysts viewed positively, among other things, the novelties introduced into directors remuneration policy, such as simplifying the structure of the remunerations variable components, improving the adjustments for risk ex ante of the variable remuneration, increasing the incidence of long-term elements and multi-annual measures of performance and combining more effectively the short- and long-term objectives. |
| Among the agreements adopted at the meeting was the re-election as directors of Mr. Javier Botín-Sanz de Sautuola y OShea, Mr. Bruce Carnegie-Brown, Mr. Ángel Jado Becerro de Bengoa, Ms. Sol Daurella Comadrán and Ms. Isabel Tocino Biscarolasaga, the first one as a proprietary director and the rest independent directors. The ratification of the appointments of Mr. Ignacio Benjumea Cabeza de Vaca, as a non-executive director (neither proprietary nor independent), and Ms Belén Romana García, as an independent director, were also submitted to the meeting. |
| Following these ratification and re-election agreements, for a period of three years, the board has 15 members, four of whom are executive directors and 11 non-executive, eight of which are independent, one proprietary and two neither proprietary nor independent. |
| The meeting also agreed to appoint PricewaterhouseCoopers Auditores, S.L. as the external auditor in order to verify the annual financial statements and management report of the Bank and the consolidated Group for 2016, 2017 and 2018. |
| Lastly, the meeting approved the proposals to modify certain precepts of the corporate Bylaws and the regulations of general meetings of shareholders in order to adapt them to the latest reforms and to the recommendations of the new code of good governance of listed companies, approved by the National Securities Market Commission on February 18, 2015. |
Full information on the agreements adopted at the meeting can be found at www.santander.com
35
FINANCIAL REPORT 2016 | ||
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Corporate Social Responsibility |
Corporate Social Responsibility
Grupo Santander continued to develop new initiatives under its commitment to corporate social responsibility:
Presence in sustainable indices and investors
| Banco Santander has been part of the FTSE4Good and DJSI indices since 2003 and 2000, respectively and continues to be so. They are the most important international indices for measuring the sustainable performance of companies. |
| With a score of 84 out of 100, Banco Santander is recognised by Dow Jones as one of the worlds best rated banks and the first in Spain. The main aspects best rated by Dow Jones were Santanders corporate policies in social and environmental matters, support programmes for society, the internal development plans for its employees, its commitment to the environment and management of risks and opportunities in climate change. |
Investment in corporate social responsibility
| Santander published its 2015 Sustainability Report, verified by Deloitte, which highlights the main developments regarding the generation of value for employees, customers, shareholders and society. |
| These achievements reaffirm the commitment to the objectives announced at the Investor Day of granting 130,000 scholarships and benefiting 4.5 million with support programmes between 2016 and 2018. |
| In 2015, Santander invested 207 million in support programmes, of which 160 million went to the sphere of higher education to develop projects in more than 1,200 universities with whom the Bank has agreements via the Santander Universities programme. |
| Santander assigned 47 million to programmes supporting nursery education, entrepreneurship, financial education, art and culture. |
| Of note in the first quarter in the education sphere was the closing of the 5th edition of Santander apprenticeships in SMEs which enabled 22,500 students to work in these firms. This programme, to which the Bank has already assigned 40 million, is handled by Santander Universities together with Crue, Spanish universities and the Spanish Confederation of Small and Medium-sized companies (CEPYME). |
| Among the Banks other initiatives in investment in sustainability is Santander Responsabilidad Conservador managed by Santander Asset Management Spain, the delivery to Cáritas Spain of 5.1 million to help launch three projects in Spain and in the Democratic Republic of the Congo to support access to basic foods, training and employment, and insertion and protection of human rights among the disadvantaged groups. |
| Lastly, the Bank continued to foster entrepreneurship via different programmes such as micro-credits that encourage the growth of small businesses that find it hard to get loans. These projects help the most deprived sectors get out of poverty. Santander is the leader in Brazil and a reference in other countries for micro-credit programmes. In 2015, 253,882 micro-entrepreneurs in Brazil, Chile and El Salvador were supported. |
36
FINANCIAL REPORT 2016 | ||
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The share |
Shareholder remuneration
| Shareholders received in February the third dividend in cash charged to 2015s earnings of 0.05 per share. |
| At the same time, the board agreed to pay a fourth dividend of 0.05 per share in cash as of May 1, 2016. |
| The total remuneration per shareholder was 0.20 per share. |
Performance of the Santander share
| The first quarter saw a lot of volatility in the markets mainly due to concern about the Chinese economy, the evolution of commodity prices, particularly oil, which hit a 12-year low at below $30 a barrel, doubts on the solvency of the financial sector and uncertainty on central banks interest rate policies and stimulus measures. |
| The Santander share price ended March at 3.874, 15.0% lower than at the end of 2015. The Ibex-35, Spains benchmark index, fell 8.6%, the DJ Stoxx Banks 20.9% and the MSCI World Banks 8.8%. |
| As we went to press, the Santander share was 4.526, up 16.8% so far in April. From the end of 2015, the variance was -0.7% (TSR: +0.6%). |
Capitalisation and trading
| At the end of March, Santander was the largest bank in the euro zone by market capitalization (55,919 million) and the 18th in the world. |
| The shares weighting in the DJ Stoxx 50 was 1.8%, 7.0% in the DJ Stoxx Banks and 12.8% in the Ibex-35. |
| A total of 8,503 million Santander shares were traded in the first quarter of 2016 with an effective value of 33,187 million, the highest among the EuroStoxx stocks, and a liquidity ratio of 59%. The number of shares traded daily was 137.2 million (535.3 million). |
Shareholder base
| The total number of shareholders at the end of March was 3,682,927, of which 3,467,386 were held by Europeans (82.54% of the capital stock) and 199,219 by those from the Americas (16.82%). |
| Excluding the Groups board, which holds 1.26% of the capital, retail shareholders have 45.17% and institutional ones 53.57% |
37
FINANCIAL REPORT 2016 | ||||
JANUARY - MARCH | ||||
38
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
¢ Quarterly income statement
million
2015 | 2016 | |||||||||||||||||||
1T | 2T | 3T | 4T | 1T | ||||||||||||||||
Net interest income |
8,038 | 8,281 | 7,983 | 7,888 | 7,624 | |||||||||||||||
Net fees |
2,524 | 2,586 | 2,474 | 2,448 | 2,397 | |||||||||||||||
Gains (losses) on financial transactions |
695 | 372 | 634 | 684 | 504 | |||||||||||||||
Other operating income |
186 | 379 | 225 | (126 | ) | 204 | ||||||||||||||
Dividends |
33 | 239 | 75 | 107 | 44 | |||||||||||||||
Income from equity-accounted method |
99 | 101 | 93 | 82 | 83 | |||||||||||||||
Other operating income/expenses |
53 | 39 | 57 | (315 | ) | 78 | ||||||||||||||
Gross income |
11,444 | 11,618 | 11,316 | 10,894 | 10,730 | |||||||||||||||
Operating expenses |
(5,377 | ) | (5,429 | ) | (5,342 | ) | (5,422 | ) | (5,158 | ) | ||||||||||
General administrative expenses |
(4,785 | ) | (4,826 | ) | (4,731 | ) | (4,810 | ) | (4,572 | ) | ||||||||||
Personnel |
(2,755 | ) | (2,836 | ) | (2,717 | ) | (2,799 | ) | (2,683 | ) | ||||||||||
Other general administrative expenses |
(2,030 | ) | (1,989 | ) | (2,015 | ) | (2,011 | ) | (1,889 | ) | ||||||||||
Depreciation and amortisation |
(592 | ) | (603 | ) | (611 | ) | (612 | ) | (586 | ) | ||||||||||
Net operating income |
6,067 | 6,189 | 5,974 | 5,472 | 5,572 | |||||||||||||||
Net loan-loss provisions |
(2,563 | ) | (2,508 | ) | (2,479 | ) | (2,558 | ) | (2,408 | ) | ||||||||||
Impairment losses on other assets |
(60 | ) | (78 | ) | (110 | ) | (215 | ) | (44 | ) | ||||||||||
Other income |
(454 | ) | (605 | ) | (606 | ) | (526 | ) | (389 | ) | ||||||||||
Ordinary profit before taxes |
2,990 | 2,998 | 2,778 | 2,173 | 2,732 | |||||||||||||||
Tax on profit |
(922 | ) | (939 | ) | (787 | ) | (471 | ) | (810 | ) | ||||||||||
Ordinary profit from continuing operations |
2,067 | 2,059 | 1,991 | 1,702 | 1,922 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Ordinary consolidated profit |
2,067 | 2,059 | 1,991 | 1,702 | 1,922 | |||||||||||||||
Minority interests |
350 | 350 | 311 | 242 | 288 | |||||||||||||||
Ordinary attributable profit to the Group |
1,717 | 1,709 | 1,680 | 1,460 | 1,633 | |||||||||||||||
Net capital gains and provisions |
| 835 | | (1,435 | ) | | ||||||||||||||
Attributable profit to the Group |
1,717 | 2,544 | 1,680 | 25 | 1,633 | |||||||||||||||
Ordinary EPS (euros) |
0.12 | 0.12 | 0.11 | 0.10 | 0.11 | |||||||||||||||
Ordinary diluted EPS (euros) |
0.12 | 0.12 | 0.11 | 0.10 | 0.11 | |||||||||||||||
¢ Net fees. Consolidated million |
||||||||||||||||||||
1Q16 |
4Q15 | Var. % | 1Q15 | Var. % | ||||||||||||||||
Fees from services |
1,449 | 1,460 | (0.8 | ) | 1,510 | (4.0 | ) | |||||||||||||
Mutual & pension funds |
182 | 204 | (10.8 | ) | 240 | (24.1 | ) | |||||||||||||
Securities and custody |
224 | 217 | 3.5 | 216 | 4.1 | |||||||||||||||
Insurance |
542 | 567 | (4.3 | ) | 559 | (3.1 | ) | |||||||||||||
Net fee income |
2,397 | 2,448 | (2.1 | ) | 2,524 | (5.0 | ) |
39
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
¢ Operating expenses. Consolidated
million
1Q16 | 4Q15 | Var. % | 1Q15 | Var. % | ||||||||||||||||
Personnel expenses |
2,683 | 2,799 | (4.1 | ) | 2,755 | (2.6 | ) | |||||||||||||
General expenses |
1,889 | 2,011 | (6.1 | ) | 2,030 | (7.0 | ) | |||||||||||||
Information technology |
289 | 216 | 34.0 | 287 | 0.7 | |||||||||||||||
Communications |
130 | 207 | (37.5 | ) | 133 | (2.6 | ) | |||||||||||||
Advertising |
146 | 205 | (28.6 | ) | 156 | (6.2 | ) | |||||||||||||
Buildings and premises |
437 | 417 | 4.9 | 475 | (8.0 | ) | ||||||||||||||
Printed and office material |
34 | 36 | (6.2 | ) | 38 | (10.4 | ) | |||||||||||||
Taxes (other than profit tax) |
119 | 136 | (12.2 | ) | 134 | (11.2 | ) | |||||||||||||
Other expenses |
733 | 794 | (7.6 | ) | 806 | (9.0 | ) | |||||||||||||
Personnel and general expenses |
4,572 | 4,810 | (4.9 | ) | 4,785 | (4.5 | ) | |||||||||||||
Depreciation and amortisation |
586 | 612 | (4.3 | ) | 592 | (1.0 | ) | |||||||||||||
Total operating expenses |
5,158 | 5,422 | (4.9 | ) | 5,377 | (4.1 | ) |
¢ Operating means. Consolidated
Employees | Branches | |||||||||||||||||||||||
31.03.16 | 31.03.15 | Var. | 31.03.16 | 31.03.15 | Var. | |||||||||||||||||||
Continental Europe |
58,090 | 57,330 | 760 | 5,487 | 5,470 | 17 | ||||||||||||||||||
o/w: Spain |
24,204 | 24,405 | (201 | ) | 3,433 | 3,511 | (78 | ) | ||||||||||||||||
Santander Consumer Finance |
14,675 | 14,227 | 448 | 584 | 575 | 9 | ||||||||||||||||||
Poland |
11,387 | 11,938 | (551 | ) | 700 | 784 | (84 | ) | ||||||||||||||||
Portugal |
6,579 | 5,441 | 1,138 | 752 | 584 | 168 | ||||||||||||||||||
United Kingdom |
26,084 | 26,290 | (206 | ) | 854 | 921 | (67 | ) | ||||||||||||||||
Latin America |
90,142 | 84,599 | 5,543 | 5,848 | 5,725 | 123 | ||||||||||||||||||
o/w: Brazil |
49,604 | 46,583 | 3,021 | 3,439 | 3,391 | 48 | ||||||||||||||||||
Mexico |
17,869 | 16,973 | 896 | 1,386 | 1,350 | 36 | ||||||||||||||||||
Chile |
12,468 | 12,128 | 340 | 471 | 476 | (5 | ) | |||||||||||||||||
USA |
18,229 | 16,918 | 1,311 | 773 | 804 | (31 | ) | |||||||||||||||||
Operating areas |
192,545 | 185,137 | 7,408 | 12,962 | 12,920 | 42 | ||||||||||||||||||
Corporate Centre |
1,974 | 2,125 | (151 | ) | ||||||||||||||||||||
Total Group |
194,519 | 187,262 | 7,257 | 12,962 | 12,920 | 42 |
¢ Net loan-loss provisions. Consolidated
million
1Q16 | 4Q15 | Var. % | 1Q15 | Var. % | ||||||||||||||||
Non-performing loans |
2,771 | 2,803 | (1.2 | ) | 2,906 | (4.6 | ) | |||||||||||||
Country-risk |
(3 | ) | (21 | ) | (85.7 | ) | 1 | | ||||||||||||
Recovery of written-off assets |
(360 | ) | (224 | ) | 60.6 | (343 | ) | 4.7 | ||||||||||||
Total |
2,408 | 2,558 | (5.9 | ) | 2,563 | (6.0 | ) |
40
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
¢ Customer loans. Consolidated
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | amount | % | 31.12.15 | ||||||||||||||||
Spanish Public sector |
14,624 | 17,392 | (2,768 | ) | (15.9 | ) | 13,993 | |||||||||||||
Other residents |
151,697 | 155,846 | (4,149 | ) | (2.7 | ) | 153,863 | |||||||||||||
Commercial bills |
8,034 | 8,188 | (153 | ) | (1.9 | ) | 9,037 | |||||||||||||
Secured loans |
90,803 | 96,271 | (5,468 | ) | (5.7 | ) | 92,478 | |||||||||||||
Other loans |
52,859 | 51,387 | 1,472 | 2.9 | 52,348 | |||||||||||||||
Non-resident sector |
633,286 | 648,820 | (15,534 | ) | (2.4 | ) | 649,509 | |||||||||||||
Secured loans |
391,505 | 403,085 | (11,580 | ) | (2.9 | ) | 409,136 | |||||||||||||
Other loans |
241,781 | 245,736 | (3,954 | ) | (1.6 | ) | 240,373 | |||||||||||||
Gross customer loans |
799,607 | 822,059 | (22,452 | ) | (2.7 | ) | 817,366 | |||||||||||||
Loan-loss allowances |
26,155 | 28,094 | (1,939 | ) | (6.9 | ) | 26,517 | |||||||||||||
Net customer loans |
773,452 | 793,965 | (20,513 | ) | (2.6 | ) | 790,848 | |||||||||||||
Pro memoria: Doubtful loans |
35,281 | 40,711 | (5,430 | ) | (13.3 | ) | 36,133 | |||||||||||||
Public sector |
107 | 169 | (62 | ) | (36.5 | ) | 145 | |||||||||||||
Other residents |
15,608 | 19,327 | (3,720 | ) | (19.2 | ) | 16,301 | |||||||||||||
Non-resident sector |
19,566 | 21,215 | (1,649 | ) | (7.8 | ) | 19,686 |
¢ Managed and marketed customer funds. Consolidated
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | amount | % | 31.12.15 | ||||||||||||||||
Resident public sector |
8,248 | 12,706 | (4,458 | ) | (35.1 | ) | 11,737 | |||||||||||||
Other residents |
156,886 | 163,702 | (6,816 | ) | (4.2 | ) | 157,611 | |||||||||||||
Demand deposits |
109,269 | 94,580 | 14,689 | 15.5 | 108,410 | |||||||||||||||
Time deposits |
45,908 | 65,118 | (19,210 | ) | (29.5 | ) | 47,297 | |||||||||||||
Other |
1,709 | 4,005 | (2,295 | ) | (57.3 | ) | 1,904 | |||||||||||||
Non-resident sector |
505,473 | 510,954 | (5,481 | ) | (1.1 | ) | 513,775 | |||||||||||||
Demand deposits |
305,319 | 299,008 | 6,311 | 2.1 | 313,175 | |||||||||||||||
Time deposits |
141,170 | 156,089 | (14,919 | ) | (9.6 | ) | 146,317 | |||||||||||||
Other |
58,983 | 55,856 | 3,127 | 5.6 | 54,283 | |||||||||||||||
Customer deposits |
670,607 | 687,362 | (16,755 | ) | (2.4 | ) | 683,122 | |||||||||||||
Debt securities |
200,829 | 208,312 | (7,483 | ) | (3.6 | ) | 205,029 | |||||||||||||
Subordinated debt |
20,784 | 19,746 | 1,038 | 5.3 | 21,153 | |||||||||||||||
On-balance-sheet customer funds |
892,220 | 915,419 | (23,200 | ) | (2.5 | ) | 909,304 | |||||||||||||
Mutual funds |
129,899 | 135,254 | (5,355 | ) | (4.0 | ) | 129,077 | |||||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | 11,376 | |||||||||||||
Managed portfolios |
24,748 | 28,541 | (3,793 | ) | (13.3 | ) | 25,808 | |||||||||||||
Other managed and marketed customer funds |
165,750 | 175,755 | (10,005 | ) | (5.7 | ) | 166,260 | |||||||||||||
Managed and marketed customer funds |
1,057,969 | 1,091,174 | (33,205 | ) | (3.0 | ) | 1,075,565 |
¢ Eligible capital (fully loaded)
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | amount | % | 31.12.15 | ||||||||||||||||
Capital stock and reserves |
101,763 | 98,558 | 3,205 | 3.3 | 98,193 | |||||||||||||||
Attributable profit |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 5,966 | |||||||||||||
Dividends |
(609 | ) | (576 | ) | (33 | ) | 5.6 | (2,268 | ) | |||||||||||
Other retained earnings |
(17,455 | ) | (8,418 | ) | (9,038 | ) | 107.4 | (15,448 | ) | |||||||||||
Minority interests |
6,190 | 4,829 | 1,361 | 28.2 | 6,148 | |||||||||||||||
Goodwill and intangible assets |
(27,590 | ) | (30,303 | ) | 2,713 | (9.0 | ) | (28,254 | ) | |||||||||||
Treasury stock and other deductions |
(5,184 | ) | (6,057 | ) | 872 | (14.4 | ) | (5,633 | ) | |||||||||||
Core CET1 |
58,748 | 59,750 | (1,003 | ) | (1.7 | ) | 58,705 | |||||||||||||
Preferred shares and other eligible T1 |
5,494 | 4,902 | 591 | 12.1 | 5,504 | |||||||||||||||
Tier 1 |
64,241 | 64,652 | (411 | ) | (0.6 | ) | 64,209 | |||||||||||||
Generic funds and eligible T2 instruments |
11,410 | 9,646 | 1,764 | 18.3 | 11,996 | |||||||||||||||
Eligible capital |
75,651 | 74,299 | 1,353 | 1.8 | 76,205 | |||||||||||||||
Risk-weighted assets |
571,916 | 617,574 | (45,658 | ) | (7.4 | ) | 583,893 | |||||||||||||
CET1 capital ratio |
10.27 | 9.67 | 0.60 | 10.05 | ||||||||||||||||
T1 capital ratio |
11.23 | 10.47 | 0.76 | 11.00 | ||||||||||||||||
BIS ratio |
13.23 | 12.03 | 1.20 | 13.05 |
41
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
¢ Continental Europe
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
Net interest income |
2,046 | 4.6 | 5.1 | (0.5 | ) | 0.6 | ||||||||||||||
Net fees |
878 | 4.3 | 4.7 | 4.2 | 4.8 | |||||||||||||||
Gains (losses) on financial transactions |
307 | (17.3 | ) | (17.3 | ) | (24.2 | ) | (23.7 | ) | |||||||||||
Other operating income* |
103 | | | (2.9 | ) | (3.1 | ) | |||||||||||||
Gross income |
3,333 | 13.0 | 13.4 | (2.2 | ) | (1.4 | ) | |||||||||||||
Operating expenses |
(1,726 | ) | 1.5 | 1.9 | 3.4 | 4.1 | ||||||||||||||
General administrative expenses |
(1,615 | ) | 1.5 | 1.9 | 3.5 | 4.2 | ||||||||||||||
Personnel |
(825 | ) | 1.5 | 1.9 | 3.2 | 4.0 | ||||||||||||||
Other general administrative expenses |
(789 | ) | 1.5 | 1.8 | 3.7 | 4.4 | ||||||||||||||
Depreciation and amortisation |
(111 | ) | 2.1 | 2.5 | 1.7 | 2.4 | ||||||||||||||
Net operating income |
1,608 | 28.5 | 29.1 | (7.6 | ) | (6.7 | ) | |||||||||||||
Net loan-loss provisions |
(437 | ) | 31.8 | 32.4 | (31.5 | ) | (31.0 | ) | ||||||||||||
Other income |
(114 | ) | (60.7 | ) | (60.6 | ) | (17.9 | ) | (17.8 | ) | ||||||||||
Profit before taxes |
1,057 | 68.0 | 68.9 | 9.7 | 11.1 | |||||||||||||||
Tax on profit |
(281 | ) | 58.7 | 59.3 | 11.8 | 13.0 | ||||||||||||||
Profit from continuing operations |
776 | 71.7 | 72.6 | 9.0 | 10.4 | |||||||||||||||
Net profit from discontinued operations |
| | | (100.0 | ) | (100.0 | ) | |||||||||||||
Consolidated profit |
776 | 71.7 | 72.6 | 9.0 | 10.4 | |||||||||||||||
Minority interests |
69 | 16.7 | 17.2 | (3.4 | ) | (1.3 | ) | |||||||||||||
Attributable profit to the Group |
706 | 80.0 | 81.0 | 10.4 | 11.7 | |||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans** |
289,694 | 0.8 | 0.8 | 3.5 | 4.2 | |||||||||||||||
Trading portfolio (w/o loans) |
65,000 | 8.1 | 8.1 | (14.7 | ) | (14.6 | ) | |||||||||||||
Available-for-sale financial assets |
57,583 | (5.5 | ) | (5.4 | ) | (5.1 | ) | (4.6 | ) | |||||||||||
Due from credit institutions** |
84,247 | 2.9 | 3.2 | 6.2 | 6.5 | |||||||||||||||
Intangible assets and property and equipment |
11,780 | (0.2 | ) | 0.4 | 4.8 | 5.3 | ||||||||||||||
Other assets |
35,203 | (4.0 | ) | (2.8 | ) | 26.4 | 28.6 | |||||||||||||
Total assets/liabilities & shareholders equity |
543,507 | 0.9 | 1.0 | 1.5 | 2.2 | |||||||||||||||
Customer deposits** |
266,841 | 1.3 | 1.3 | (0.5 | ) | (0.1 | ) | |||||||||||||
Marketable debt securities** |
50,614 | (0.6 | ) | (0.8 | ) | 2.2 | 2.7 | |||||||||||||
Subordinated debt** |
172 | 1.4 | 1.3 | (61.0 | ) | (59.6 | ) | |||||||||||||
Insurance liabilities |
655 | 4.7 | 4.7 | (2.2 | ) | (2.2 | ) | |||||||||||||
Due to credit institutions** |
125,497 | (5.4 | ) | (4.9 | ) | 10.9 | 12.0 | |||||||||||||
Other liabilities |
65,840 | 13.0 | 13.0 | (9.7 | ) | (9.4 | ) | |||||||||||||
Stockholders equity *** |
33,889 | 4.2 | 4.4 | 11.8 | 13.0 | |||||||||||||||
Other managed and marketed customer funds |
70,481 | (1.3 | ) | (1.2 | ) | (2.9 | ) | (2.6 | ) | |||||||||||
Mutual and pension funds |
62,254 | (0.7 | ) | (0.7 | ) | (1.9 | ) | (1.6 | ) | |||||||||||
Managed portfolios |
8,227 | (5.7 | ) | (5.3 | ) | (10.1 | ) | (9.1 | ) | |||||||||||
Managed and marketed customer funds |
388,108 | 0.6 | 0.5 | (0.7 | ) | (0.2 | ) | |||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
RoTE |
8.64 | 3.71 | (0.11 | ) | ||||||||||||||||
Efficiency ratio (with amortisations) |
51.8 | (5.8 | ) | 2.8 | ||||||||||||||||
NPL ratio |
7.08 | (0.19 | ) | (1.44 | ) | |||||||||||||||
NPL coverage |
65.4 | 1.2 | 6.8 | |||||||||||||||||
Number of employees |
58,090 | 0.1 | 1.3 | |||||||||||||||||
Number of branches |
5,487 | (1.1 | ) | 0.3 |
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
42
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Spain
million
Income statement | 1Q16 | % / 4Q15 | % / 1Q15 | |||||||||
|
||||||||||||
Net interest income |
819 | 5.1 | (14.4 | ) | ||||||||
|
||||||||||||
Net fees |
424 | 1.2 | 2.5 | |||||||||
|
||||||||||||
Gains (losses) on financial transactions |
224 | 9.5 | (25.7 | ) | ||||||||
|
||||||||||||
Other operating income* |
75 | | (1.7 | ) | ||||||||
|
||||||||||||
Gross income |
1,543 | 24.6 | (11.8 | ) | ||||||||
|
||||||||||||
Operating expenses |
(837 | ) | (2.7 | ) | (2.2 | ) | ||||||
|
||||||||||||
General administrative expenses |
(801 | ) | (2.8 | ) | (1.2 | ) | ||||||
|
||||||||||||
Personnel |
(415 | ) | (0.3 | ) | (1.2 | ) | ||||||
|
||||||||||||
Other general administrative expenses |
(386 | ) | (5.4 | ) | (1.2 | ) | ||||||
|
||||||||||||
Depreciation and amortisation |
(36 | ) | 0.3 | (20.2 | ) | |||||||
|
||||||||||||
Net operating income |
706 | 86.6 | (21.0 | ) | ||||||||
|
||||||||||||
Net loan-loss provisions |
(231 | ) | 47.6 | (37.0 | ) | |||||||
|
||||||||||||
Other income |
(37 | ) | (58.0 | ) | (15.7 | ) | ||||||
|
||||||||||||
Profit before taxes |
438 | 228.3 | (9.3 | ) | ||||||||
|
||||||||||||
Tax on profit |
(126 | ) | 269.6 | (8.9 | ) | |||||||
|
||||||||||||
Profit from continuing operations |
312 | 214.1 | (9.5 | ) | ||||||||
|
||||||||||||
Net profit from discontinued operations |
| | | |||||||||
|
||||||||||||
Consolidated profit |
312 | 214.1 | (9.5 | ) | ||||||||
|
||||||||||||
Minority interests |
5 | (11.9 | ) | 1.4 | ||||||||
|
||||||||||||
Attributable profit to the Group |
307 | 227.3 | (9.6 | ) | ||||||||
|
||||||||||||
Balance sheet |
||||||||||||
|
||||||||||||
Customer loans** |
154,848 | (0.2 | ) | (1.8 | ) | |||||||
|
||||||||||||
Trading portfolio (w/o loans) |
62,233 | 8.4 | (14.4 | ) | ||||||||
|
||||||||||||
Available-for-sale financial assets |
40,743 | (7.5 | ) | (12.0 | ) | |||||||
|
||||||||||||
Due from credit institutions** |
61,506 | 8.5 | 2.2 | |||||||||
|
||||||||||||
Intangible assets and property and equipment |
2,635 | (8.3 | ) | (8.0 | ) | |||||||
|
||||||||||||
Other assets |
12,847 | 18.7 | 59.3 | |||||||||
|
||||||||||||
Total assets/liabilities & shareholders equity |
334,813 | 2.4 | (3.7 | ) | ||||||||
|
||||||||||||
Customer deposits** |
176,049 | 0.7 | (7.2 | ) | ||||||||
|
||||||||||||
Marketable debt securities** |
23,103 | 3.8 | (16.4 | ) | ||||||||
|
||||||||||||
Subordinated debt** |
2 | | | |||||||||
|
||||||||||||
Insurance liabilities |
542 | 1.0 | (4.3 | ) | ||||||||
|
||||||||||||
Due to credit institutions** |
67,352 | (2.4 | ) | 19.0 | ||||||||
|
||||||||||||
Other liabilities |
54,500 | 14.7 | (12.2 | ) | ||||||||
|
||||||||||||
Stockholders equity *** |
13,264 | 2.7 | 18.7 | |||||||||
|
||||||||||||
Other managed and marketed customer funds |
63,236 | (1.1 | ) | 0.1 | ||||||||
|
||||||||||||
Mutual and pension funds |
56,641 | (0.7 | ) | (0.5 | ) | |||||||
|
||||||||||||
Managed portfolios |
6,594 | (4.6 | ) | 5.6 | ||||||||
|
||||||||||||
Managed and marketed customer funds |
262,390 | 0.5 | (6.5 | ) | ||||||||
|
||||||||||||
Ratios (%) and operating means |
||||||||||||
|
||||||||||||
RoTE |
9.47 | 6.55 | (2.60 | ) | ||||||||
|
||||||||||||
Efficiency ratio (with amortisations) |
54.2 | (15.2 | ) | 5.3 | ||||||||
|
||||||||||||
NPL ratio |
6.36 | (0.17 | ) | (0.89 | ) | |||||||
|
||||||||||||
NPL coverage |
50.2 | 2.1 | 3.6 | |||||||||
|
||||||||||||
Number of employees |
24,204 | (0.0 | ) | (0.8 | ) | |||||||
|
||||||||||||
Number of branches |
3,433 | (1.0 | ) | (2.2 | ) | |||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
43
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Santander Consumer Finance
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
811 | 0.8 | 1.4 | 11.2 | 13.5 | |||||||||||||||
|
||||||||||||||||||||
Net fees |
230 | 5.7 | 6.0 | 4.7 | 5.2 | |||||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
(1 | ) | (78.2 | ) | (77.3 | ) | | | ||||||||||||
|
||||||||||||||||||||
Other operating income* |
6 | | | (42.2 | ) | (42.4 | ) | |||||||||||||
|
||||||||||||||||||||
Gross income |
1,045 | 4.8 | 5.3 | 9.0 | 10.9 | |||||||||||||||
|
||||||||||||||||||||
Operating expenses |
(483 | ) | 3.4 | 4.0 | 14.6 | 16.5 | ||||||||||||||
|
||||||||||||||||||||
General administrative expenses |
(435 | ) | 3.2 | 3.8 | 13.3 | 15.2 | ||||||||||||||
|
||||||||||||||||||||
Personnel |
(201 | ) | 4.4 | 4.9 | 12.3 | 14.4 | ||||||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(234 | ) | 2.1 | 2.8 | 14.2 | 15.9 | ||||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(48 | ) | 5.4 | 6.0 | 28.0 | 29.0 | ||||||||||||||
|
||||||||||||||||||||
Net operating income |
562 | 6.0 | 6.5 | 4.6 | 6.5 | |||||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(114 | ) | 17.8 | 18.3 | (31.9 | ) | (30.7 | ) | ||||||||||||
|
||||||||||||||||||||
Other income |
(39 | ) | (23.3 | ) | (22.8 | ) | 73.2 | 74.4 | ||||||||||||
|
||||||||||||||||||||
Profit before taxes |
410 | 6.9 | 7.3 | 17.8 | 20.0 | |||||||||||||||
|
||||||||||||||||||||
Tax on profit |
(117 | ) | 4.5 | 4.6 | 21.3 | 23.4 | ||||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
293 | 7.9 | 8.4 | 16.5 | 18.8 | |||||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | (100.0 | ) | (100.0 | ) | |||||||||||||
|
||||||||||||||||||||
Consolidated profit |
293 | 7.9 | 8.4 | 16.5 | 18.8 | |||||||||||||||
|
||||||||||||||||||||
Minority interests |
42 | 18.8 | 18.8 | 32.2 | 33.0 | |||||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
251 | 6.3 | 6.9 | 14.3 | 16.7 | |||||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
76,235 | 3.4 | 3.1 | 11.0 | 12.4 | |||||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
34 | (63.7 | ) | (64.1 | ) | 11.8 | 19.6 | |||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
3,624 | (0.8 | ) | (1.4 | ) | 223.0 | 237.3 | |||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
4,034 | (5.1 | ) | (5.6 | ) | (27.3 | ) | (26.2 | ) | |||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
672 | (2.9 | ) | (3.0 | ) | (13.7 | ) | (13.3 | ) | |||||||||||
|
||||||||||||||||||||
Other assets |
4,647 | (24.2 | ) | (24.3 | ) | 10.1 | 10.9 | |||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
89,247 | 0.8 | 0.5 | 11.0 | 12.5 | |||||||||||||||
|
||||||||||||||||||||
Customer deposits** |
33,195 | 1.8 | 1.6 | 7.1 | 8.2 | |||||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
22,363 | (3.9 | ) | (4.2 | ) | 18.2 | 19.8 | |||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
70 | 0.4 | 0.4 | 1.5 | 1.5 | |||||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
20,707 | 1.9 | 1.6 | 13.2 | 15.6 | |||||||||||||||
|
||||||||||||||||||||
Other liabilities |
4,640 | 7.3 | 7.1 | 8.6 | 9.4 | |||||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
8,271 | 4.0 | 3.6 | 5.2 | 6.8 | |||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
7 | (1.1 | ) | (1.1 | ) | (2.9 | ) | (2.9 | ) | |||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
7 | (1.1 | ) | (1.1 | ) | (2.9 | ) | (2.9 | ) | |||||||||||
|
||||||||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
55,635 | (0.6 | ) | (0.8 | ) | 11.3 | 12.5 | |||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
12.83 | 0.64 | 0.50 | |||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
46.2 | (0.6 | ) | 2.3 | ||||||||||||||||
|
||||||||||||||||||||
NPL ratio |
3.28 | (0.14 | ) | (1.24 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL coverage |
111.9 | 2.8 | 8.3 | |||||||||||||||||
|
||||||||||||||||||||
Number of employees |
14,675 | 1.0 | 3.1 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
584 | (0.7 | ) | 1.6 | ||||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
44
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Poland
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
|
|
||||||||||||||||||
Net interest income |
197 | (3.0 | ) | (0.6 | ) | 3.0 | 7.2 | |||||||||||||
|
||||||||||||||||||||
Net fees |
96 | (12.0 | ) | (9.8 | ) | (4.4 | ) | (0.5 | ) | |||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
25 | 10.9 | 12.8 | (53.8 | ) | (51.9 | ) | |||||||||||||
|
||||||||||||||||||||
Other operating income* |
(6 | ) | (85.0 | ) | (84.3 | ) | 39.9 | 45.6 | ||||||||||||
|
||||||||||||||||||||
Gross income |
311 | 6.5 | 8.7 | (8.6 | ) | (4.9 | ) | |||||||||||||
|
||||||||||||||||||||
Operating expenses |
(145 | ) | 1.2 | 3.5 | (3.9 | ) | 0.0 | |||||||||||||
|
||||||||||||||||||||
General administrative expenses |
(131 | ) | (1.0 | ) | 1.2 | (5.8 | ) | (2.0 | ) | |||||||||||
|
||||||||||||||||||||
Personnel |
(74 | ) | (8.8 | ) | (6.6 | ) | (8.9 | ) | (5.2 | ) | ||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(57 | ) | 11.3 | 13.6 | (1.4 | ) | 2.6 | |||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(14 | ) | 29.1 | 32.0 | 18.9 | 23.8 | ||||||||||||||
|
||||||||||||||||||||
Net operating income |
166 | 11.6 | 13.8 | (12.4 | ) | (8.8 | ) | |||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(33 | ) | (24.2 | ) | (22.4 | ) | (15.5 | ) | (12.1 | ) | ||||||||||
|
||||||||||||||||||||
Other income |
(22 | ) | 496.4 | 521.8 | | | ||||||||||||||
|
||||||||||||||||||||
Profit before taxes |
111 | 9.2 | 11.0 | (26.0 | ) | (23.0 | ) | |||||||||||||
|
||||||||||||||||||||
Tax on profit |
(23 | ) | (7.1 | ) | (5.0 | ) | (16.9 | ) | (13.5 | ) | ||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
88 | 14.3 | 16.1 | (28.0 | ) | (25.1 | ) | |||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
88 | 14.3 | 16.1 | (28.0 | ) | (25.1 | ) | |||||||||||||
|
||||||||||||||||||||
Minority interests |
24 | 18.5 | 20.2 | (29.4 | ) | (26.5 | ) | |||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
64 | 12.9 | 14.6 | (27.5 | ) | (24.5 | ) | |||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
19,616 | 3.4 | 3.2 | 7.2 | 11.7 | |||||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
858 | (4.0 | ) | (4.1 | ) | (31.8 | ) | (28.9 | ) | |||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
5,515 | 3.9 | 3.8 | 3.0 | 7.3 | |||||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
789 | (36.7 | ) | (36.8 | ) | (35.5 | ) | (32.8 | ) | |||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
252 | (2.9 | ) | (3.0 | ) | 4.7 | 9.2 | |||||||||||||
|
||||||||||||||||||||
Other assets |
1,519 | (37.5 | ) | (37.6 | ) | (29.9 | ) | (27.0 | ) | |||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
28,549 | (1.9 | ) | (2.1 | ) | 0.0 | 4.2 | |||||||||||||
|
||||||||||||||||||||
Customer deposits** |
21,329 | (0.6 | ) | (0.8 | ) | 4.1 | 8.5 | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
447 | 12.1 | 12.0 | 85.8 | 93.6 | |||||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
100 | 0.3 | 0.1 | (73.0 | ) | (71.9 | ) | |||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
670 | (41.9 | ) | (41.9 | ) | (47.2 | ) | (45.0 | ) | |||||||||||
|
||||||||||||||||||||
Other liabilities |
3,426 | (2.5 | ) | (2.7 | ) | (9.5 | ) | (5.7 | ) | |||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
2,577 | 3.6 | 3.5 | 7.3 | 11.8 | |||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
3,249 | 1.2 | 1.1 | (18.0 | ) | (14.5 | ) | |||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
3,158 | 1.7 | 1.5 | (17.2 | ) | (13.7 | ) | |||||||||||||
|
||||||||||||||||||||
Managed portfolios |
91 | (11.4 | ) | (11.5 | ) | (38.0 | ) | (35.3 | ) | |||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
25,125 | (0.2 | ) | (0.3 | ) | 0.3 | 4.5 | |||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
10.71 | 0.98 | (4.97 | ) | ||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
46.6 | (2.4 | ) | 2.3 | ||||||||||||||||
|
||||||||||||||||||||
NPL ratio |
5.93 | (0.37 | ) | (1.40 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL coverage |
67.0 | 3.0 | 5.4 | |||||||||||||||||
|
||||||||||||||||||||
Number of employees |
11,387 | (0.8 | ) | (4.6 | ) | |||||||||||||||
|
||||||||||||||||||||
Number of branches |
700 | (3.2 | ) | (10.7 | ) | |||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
45
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Portugal
million
Income statement | 1Q16 | % / 4Q15 | % / 1Q15 | |||||||||
|
||||||||||||
Net interest income |
183 | 32.1 | 28.4 | |||||||||
|
||||||||||||
Net fees |
90 | 46.5 | 32.2 | |||||||||
|
||||||||||||
Gains (losses) on financial transactions |
54 | (56.4 | ) | 263.0 | ||||||||
|
||||||||||||
Other operating income* |
10 | | (19.1 | ) | ||||||||
|
||||||||||||
Gross income |
337 | 5.9 | 41.5 | |||||||||
|
||||||||||||
Operating expenses |
(154 | ) | 23.1 | 24.8 | ||||||||
|
||||||||||||
General administrative expenses |
(145 | ) | 25.0 | 27.2 | ||||||||
|
||||||||||||
Personnel |
(88 | ) | 16.7 | 22.5 | ||||||||
|
||||||||||||
Other general administrative expenses |
(57 | ) | 40.2 | 35.2 | ||||||||
|
||||||||||||
Depreciation and amortisation |
(9 | ) | (1.0 | ) | (4.9 | ) | ||||||
|
||||||||||||
Net operating income |
183 | (5.2 | ) | 59.6 | ||||||||
|
||||||||||||
Net loan-loss provisions |
(22 | ) | 356.0 | 2.1 | ||||||||
|
||||||||||||
Other income |
(2 | ) | (77.1 | ) | (89.2 | ) | ||||||
|
||||||||||||
Profit before taxes |
158 | (11.2 | ) | 121.3 | ||||||||
|
||||||||||||
Tax on profit |
(37 | ) | (36.9 | ) | 120.5 | |||||||
|
||||||||||||
Profit from continuing operations |
122 | 1.3 | 121.5 | |||||||||
|
||||||||||||
Net profit from discontinued operations |
| | | |||||||||
|
||||||||||||
Consolidated profit |
122 | 1.3 | 121.5 | |||||||||
|
||||||||||||
Minority interests |
1 | 26.9 | 149.1 | |||||||||
|
||||||||||||
Attributable profit to the Group |
121 | 1.2 | 121.4 | |||||||||
|
||||||||||||
Balance sheet |
||||||||||||
|
||||||||||||
Customer loans** |
27,655 | (2.0 | ) | 20.0 | ||||||||
|
||||||||||||
Trading portfolio (w/o loans) |
1,761 | 4.9 | (18.5 | ) | ||||||||
|
||||||||||||
Available-for-sale financial assets |
6,158 | (9.4 | ) | (10.5 | ) | |||||||
|
||||||||||||
Due from credit institutions** |
2,936 | 19.1 | 35.1 | |||||||||
|
||||||||||||
Intangible assets and property and equipment |
702 | (2.5 | ) | 0.2 | ||||||||
|
||||||||||||
Other assets |
8,435 | (12.9 | ) | 44.0 | ||||||||
|
||||||||||||
Total assets/liabilities & shareholders equity |
47,647 | (3.9 | ) | 16.7 | ||||||||
|
||||||||||||
Customer deposits** |
29,146 | (0.1 | ) | 23.9 | ||||||||
|
||||||||||||
Marketable debt securities** |
4,700 | (5.9 | ) | 72.1 | ||||||||
|
||||||||||||
Subordinated debt** |
(0 | ) | 127.0 | (90.7 | ) | |||||||
|
||||||||||||
Insurance liabilities |
45 | 131.8 | 53.1 | |||||||||
|
||||||||||||
Due to credit institutions** |
9,643 | (14.7 | ) | (12.7 | ) | |||||||
|
||||||||||||
Other liabilities |
1,183 | (12.4 | ) | 33.3 | ||||||||
|
||||||||||||
Stockholders equity *** |
2,929 | 7.6 | 13.0 | |||||||||
|
||||||||||||
Other managed and marketed customer funds |
2,745 | (3.4 | ) | (4.4 | ) | |||||||
|
||||||||||||
Mutual and pension funds |
2,346 | (3.3 | ) | (5.8 | ) | |||||||
|
||||||||||||
Managed portfolios |
399 | (3.9 | ) | 5.4 | ||||||||
|
||||||||||||
Managed and marketed customer funds |
36,591 | (1.1 | ) | 25.6 | ||||||||
|
||||||||||||
Ratios (%) and operating means |
||||||||||||
|
||||||||||||
RoTE |
17.21 | (2.42 | ) | 8.24 | ||||||||
|
||||||||||||
Efficiency ratio (with amortisations) |
45.7 | 6.4 | (6.1 | ) | ||||||||
|
||||||||||||
NPL ratio |
8.55 | 1.09 | (0.41 | ) | ||||||||
|
||||||||||||
NPL coverage |
87.7 | (11.3 | ) | 35.3 | ||||||||
|
||||||||||||
Number of employees |
6,579 | 0.2 | 20.9 | |||||||||
|
||||||||||||
Number of branches |
752 | | 28.8 | |||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
46
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
United Kingdom
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
1,154 | (7.7 | ) | (1.5 | ) | (3.3 | ) | 0.2 | ||||||||||||
|
||||||||||||||||||||
Net fees |
280 | 16.8 | 24.8 | (2.3 | ) | 1.3 | ||||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
68 | (32.0 | ) | (27.6 | ) | 12.9 | 17.1 | |||||||||||||
|
||||||||||||||||||||
Other operating income* |
11 | 13.6 | 21.4 | 10.7 | 14.8 | |||||||||||||||
|
||||||||||||||||||||
Gross income |
1,513 | (5.5 | ) | 0.9 | (2.4 | ) | 1.2 | |||||||||||||
|
||||||||||||||||||||
Operating expenses |
(794 | ) | (6.2 | ) | 0.2 | (3.6 | ) | (0.0 | ) | |||||||||||
|
||||||||||||||||||||
General administrative expenses |
(718 | ) | (3.2 | ) | 3.3 | (4.1 | ) | (0.6 | ) | |||||||||||
|
||||||||||||||||||||
Personnel |
(371 | ) | (4.1 | ) | 2.4 | (6.4 | ) | (2.9 | ) | |||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(346 | ) | (2.3 | ) | 4.3 | (1.6 | ) | 2.0 | ||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(76 | ) | (27.0 | ) | (22.2 | ) | 1.7 | 5.4 | ||||||||||||
|
||||||||||||||||||||
Net operating income |
719 | (4.7 | ) | 1.8 | (1.1 | ) | 2.6 | |||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(7 | ) | (68.9 | ) | (66.8 | ) | (91.4 | ) | (91.1 | ) | ||||||||||
|
||||||||||||||||||||
Other income |
(59 | ) | (50.1 | ) | (46.8 | ) | 5.8 | 9.8 | ||||||||||||
|
||||||||||||||||||||
Profit before taxes |
654 | 6.2 | 13.4 | 9.7 | 13.8 | |||||||||||||||
|
||||||||||||||||||||
Tax on profit |
(192 | ) | 47.3 | 57.3 | 64.1 | 70.2 | ||||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
462 | (4.8 | ) | 1.6 | (3.5 | ) | 0.1 | |||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
462 | (4.8 | ) | 1.6 | (3.5 | ) | 0.1 | |||||||||||||
|
||||||||||||||||||||
Minority interests |
9 | (9.0 | ) | (2.9 | ) | 18.1 | 22.5 | |||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
453 | (4.7 | ) | 1.7 | (3.9 | ) | (0.3 | ) | ||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
267,628 | (5.3 | ) | 2.1 | (4.2 | ) | 4.3 | |||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
36,151 | (9.9 | ) | (2.9 | ) | (15.6 | ) | (8.2 | ) | |||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
11,801 | (3.9 | ) | 3.6 | (8.8 | ) | (0.7 | ) | ||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
18,019 | 16.6 | 25.7 | (9.4 | ) | (1.4 | ) | |||||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
2,787 | (7.9 | ) | (0.6 | ) | (9.9 | ) | (2.0 | ) | |||||||||||
|
||||||||||||||||||||
Other assets |
28,164 | (4.8 | ) | 2.7 | (19.0 | ) | (11.8 | ) | ||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
364,549 | (4.9 | ) | 2.6 | (7.2 | ) | 1.0 | |||||||||||||
|
||||||||||||||||||||
Customer deposits** |
217,282 | (6.3 | ) | 1.0 | (1.5 | ) | 7.2 | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
71,430 | 1.9 | 9.8 | (9.1 | ) | (1.1 | ) | |||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
5,184 | 25.6 | 35.5 | (10.4 | ) | (2.5 | ) | |||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
15,210 | (35.6 | ) | (30.5 | ) | (42.1 | ) | (37.0 | ) | |||||||||||
|
||||||||||||||||||||
Other liabilities |
37,176 | 2.8 | 10.9 | (18.7 | ) | (11.5 | ) | |||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
18,268 | 6.4 | 14.7 | 15.3 | 25.5 | |||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
8,784 | (9.5 | ) | (2.4 | ) | (16.1 | ) | (8.7 | ) | |||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
8,661 | (9.4 | ) | (2.3 | ) | (16.0 | ) | (8.6 | ) | |||||||||||
|
||||||||||||||||||||
Managed portfolios |
124 | (11.1 | ) | (4.2 | ) | (20.7 | ) | (13.7 | ) | |||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
302,681 | (4.2 | ) | 3.3 | (4.1 | ) | 4.4 | |||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
10.15 | (0.65 | ) | (1.78 | ) | |||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
52.4 | (0.4 | ) | (0.6 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL ratio |
1.49 | (0.03 | ) | (0.26 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL coverage |
36.5 | (1.7 | ) | (4.7 | ) | |||||||||||||||
|
||||||||||||||||||||
Number of employees |
26,084 | 0.8 | (0.8 | ) | ||||||||||||||||
|
||||||||||||||||||||
Number of branches |
854 | (0.5 | ) | (7.3 | ) | |||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
47
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Latin America
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
3,044 | (6.7 | ) | (1.3 | ) | (14.1 | ) | 10.6 | ||||||||||||
|
||||||||||||||||||||
Net fees |
961 | (11.5 | ) | (3.9 | ) | (15.3 | ) | 10.9 | ||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
141 | 136.7 | 163.7 | (15.9 | ) | 3.3 | ||||||||||||||
|
||||||||||||||||||||
Other operating income* |
(7 | ) | (45.0 | ) | 15.6 | 289.0 | 528.9 | |||||||||||||
|
||||||||||||||||||||
Gross income |
4,139 | (5.8 | ) | 0.2 | (14.6 | ) | 10.3 | |||||||||||||
|
||||||||||||||||||||
Operating expenses |
(1,736 | ) | (10.4 | ) | (3.3 | ) | (15.2 | ) | 9.9 | |||||||||||
|
||||||||||||||||||||
General administrative expenses |
(1,584 | ) | (11.1 | ) | (4.1 | ) | (15.0 | ) | 10.1 | |||||||||||
|
||||||||||||||||||||
Personnel |
(868 | ) | (11.2 | ) | (4.5 | ) | (13.3 | ) | 12.1 | |||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(716 | ) | (10.9 | ) | (3.5 | ) | (17.0 | ) | 7.8 | |||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(151 | ) | (2.7 | ) | 4.7 | (17.0 | ) | 7.6 | ||||||||||||
|
||||||||||||||||||||
Net operating income |
2,404 | (2.3 | ) | 3.0 | (14.1 | ) | 10.6 | |||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(1,105 | ) | (13.2 | ) | (7.9 | ) | (8.7 | ) | 17.0 | |||||||||||
|
||||||||||||||||||||
Other income |
(189 | ) | 23.8 | 19.9 | (7.2 | ) | 26.0 | |||||||||||||
|
||||||||||||||||||||
Profit before taxes |
1,110 | 7.4 | 13.6 | (19.9 | ) | 2.8 | ||||||||||||||
|
||||||||||||||||||||
Tax on profit |
(269 | ) | 21.5 | 25.3 | (32.9 | ) | (12.5 | ) | ||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
841 | 3.5 | 10.3 | (14.7 | ) | 9.0 | ||||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
841 | 3.5 | 10.3 | (14.7 | ) | 9.0 | ||||||||||||||
|
||||||||||||||||||||
Minority interests |
137 | 15.1 | 17.9 | (5.2 | ) | 14.8 | ||||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
703 | 1.5 | 8.9 | (16.3 | ) | 7.9 | ||||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
131,830 | (1.0 | ) | (1.8 | ) | (10.1 | ) | 6.6 | ||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
36,152 | 7.4 | 7.2 | 3.9 | 22.8 | |||||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
27,032 | 4.3 | 2.8 | (12.8 | ) | 4.0 | ||||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
23,305 | 6.3 | 5.2 | (9.5 | ) | 6.8 | ||||||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
3,549 | 0.8 | 0.0 | (13.8 | ) | 5.7 | ||||||||||||||
|
||||||||||||||||||||
Other assets |
50,960 | 2.5 | 0.6 | 17.8 | 40.9 | |||||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
272,829 | 1.8 | 0.8 | (4.5 | ) | 13.5 | ||||||||||||||
|
||||||||||||||||||||
Customer deposits** |
125,348 | 2.4 | 2.1 | (7.7 | ) | 10.4 | ||||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
32,972 | (0.6 | ) | (3.4 | ) | (4.6 | ) | 11.5 | ||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
6,347 | (0.1 | ) | (2.7 | ) | (5.9 | ) | 10.2 | ||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
1 | (14.6 | ) | (18.5 | ) | 11.6 | 31.5 | |||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
41,879 | (1.2 | ) | (2.4 | ) | 9.0 | 28.5 | |||||||||||||
|
||||||||||||||||||||
Other liabilities |
44,863 | 2.3 | 1.0 | (6.2 | ) | 11.1 | ||||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
21,418 | 8.8 | 8.0 | (3.7 | ) | 15.1 | ||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
68,191 | 3.8 | 1.2 | (2.7 | ) | 14.9 | ||||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
63,275 | 3.6 | 1.0 | (2.5 | ) | 15.3 | ||||||||||||||
|
||||||||||||||||||||
Managed portfolios |
4,916 | 7.0 | 3.6 | (4.6 | ) | 10.4 | ||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
232,858 | 2.3 | 0.9 | (5.8 | ) | 11.9 | ||||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
14.31 | 0.15 | (0.98 | ) | ||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
41.9 | (2.1 | ) | (0.3 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL ratio |
4.88 | (0.08 P, | ) | 0.24 | ||||||||||||||||
|
||||||||||||||||||||
NPL coverage |
79.7 | 0.7 P, | (3.9 | ) | ||||||||||||||||
|
||||||||||||||||||||
Number of employees |
90,142 | 0.4 | 6.6 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
5,848 | 0.1 | 2.1 | |||||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
48
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Brazil
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
1,793 | (5.8 | ) | (3.2 | ) | (20.5 | ) | 6.3 | ||||||||||||
|
||||||||||||||||||||
Net fees |
573 | (9.3 | ) | (6.1 | ) | (19.1 | ) | 8.1 | ||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
3 | | | (89.6 | ) | (86.1 | ) | |||||||||||||
|
||||||||||||||||||||
Other operating income* |
13 | (21.0 | ) | (29.1 | ) | (37.2 | ) | (16.1 | ) | |||||||||||
|
||||||||||||||||||||
Gross income |
2,381 | (4.7 | ) | (2.3 | ) | (20.8 | ) | 5.8 | ||||||||||||
|
||||||||||||||||||||
Operating expenses |
(947 | ) | (10.6 | ) | (7.5 | ) | (20.2 | ) | 6.6 | |||||||||||
|
||||||||||||||||||||
General administrative expenses |
(857 | ) | (12.4 | ) | (9.1 | ) | (19.8 | ) | 7.2 | |||||||||||
|
||||||||||||||||||||
Personnel |
(473 | ) | (11.6 | ) | (8.2 | ) | (17.7 | ) | 9.9 | |||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(384 | ) | (13.3 | ) | (10.1 | ) | (22.2 | ) | 4.0 | |||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(90 | ) | 11.4 | 11.5 | (24.0 | ) | 1.5 | |||||||||||||
|
||||||||||||||||||||
Net operating income |
1,434 | (0.3 | ) | 1.4 | (21.2 | ) | 5.3 | |||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(720 | ) | (13.2 | ) | (9.4 | ) | (12.9 | ) | 16.4 | |||||||||||
|
||||||||||||||||||||
Other income |
(177 | ) | 17.1 | 14.2 | (15.2 | ) | 13.4 | |||||||||||||
|
||||||||||||||||||||
Profit before taxes |
536 | 17.4 | 15.8 | (31.6 | ) | (8.7 | ) | |||||||||||||
|
||||||||||||||||||||
Tax on profit |
(137 | ) | 28.5 | 22.5 | (45.7 | ) | (27.5 | ) | ||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
399 | 14.1 | 13.7 | (25.0 | ) | 0.3 | ||||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
399 | 14.1 | 13.7 | (25.0 | ) | 0.3 | ||||||||||||||
|
||||||||||||||||||||
Minority interests |
41 | 22.1 | 19.2 | (25.8 | ) | (0.9 | ) | |||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
359 | 13.2 | 13.1 | (24.8 | ) | 0.4 | ||||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
60,470 | 0.4 | (4.1 | ) | (16.6 | ) | (1.8 | ) | ||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
15,620 | 16.9 | 11.6 | 6.1 | 25.0 | |||||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
16,072 | 1.6 | (2.9 | ) | (30.3 | ) | (17.9 | ) | ||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
9,607 | (9.3 | ) | (13.4 | ) | (15.4 | ) | (0.3 | ) | |||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
2,368 | 3.8 | (0.8 | ) | (11.8 | ) | 3.9 | |||||||||||||
|
||||||||||||||||||||
Other assets |
37,977 | 4.8 | 0.0 | 28.2 | 51.0 | |||||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
142,114 | 2.6 | (2.0 | ) | (7.7 | ) | 8.7 | |||||||||||||
|
||||||||||||||||||||
Customer deposits** |
59,737 | 5.5 | 0.7 | (8.4 | ) | 7.9 | ||||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
22,248 | 1.2 | (3.4 | ) | (1.5 | ) | 16.0 | |||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
4,220 | 0.8 | (3.8 | ) | (5.6 | ) | 11.2 | |||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
1 | (14.6 | ) | (18.5 | ) | 11.6 | 31.5 | |||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
21,478 | (0.6 | ) | (5.0 | ) | (3.8 | ) | 13.3 | ||||||||||||
|
||||||||||||||||||||
Other liabilities |
22,363 | (7.1 | ) | (11.3 | ) | (17.4 | ) | (2.7 | ) | |||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
12,066 | 20.2 | 14.8 | (1.4 | ) | 16.1 | ||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
48,621 | 6.6 | 1.8 | 2.0 | 20.1 | |||||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
45,689 | 6.3 | 1.6 | 2.5 | 20.7 | |||||||||||||||
|
||||||||||||||||||||
Managed portfolios |
2,932 | 10.8 | 5.8 | (4.7 | ) | 12.3 | ||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
134,826 | 5.0 | 0.3 | (3.7 | ) | 13.5 | ||||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
13.50 | 0.79 | (1.59 | ) | ||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
39.8 | (2.6 | ) | 0.3 | ||||||||||||||||
|
||||||||||||||||||||
NPL ratio |
5.93 | (0.05 | ) | 1.03 | ||||||||||||||||
|
||||||||||||||||||||
NPL coverage |
83.7 | | (11.5 | ) | ||||||||||||||||
|
||||||||||||||||||||
Number of employees |
49,604 | 0.2 | 6.5 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
3,439 | (0.1 | ) | 1.4 | ||||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
49
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Mexico
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
594 | (6.2 | ) | 2.0 | (0.5 | ) | 17.6 | |||||||||||||
|
||||||||||||||||||||
Net fees |
173 | (12.9 | ) | (5.4 | ) | (10.6 | ) | 5.7 | ||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
34 | (5.0 | ) | 3.3 | (20.0 | ) | (5.4 | ) | ||||||||||||
|
||||||||||||||||||||
Other operating income* |
(9 | ) | (47.8 | ) | (43.4 | ) | (36.7 | ) | (25.2 | ) | ||||||||||
|
||||||||||||||||||||
Gross income |
792 | (6.8 | ) | 1.3 | (3.2 | ) | 14.4 | |||||||||||||
|
||||||||||||||||||||
Operating expenses |
(322 | ) | (3.7 | ) | 4.4 | (9.3 | ) | 7.2 | ||||||||||||
|
||||||||||||||||||||
General administrative expenses |
(293 | ) | (5.3 | ) | 2.7 | (10.0 | ) | 6.4 | ||||||||||||
|
||||||||||||||||||||
Personnel |
(152 | ) | (3.8 | ) | 4.2 | (9.1 | ) | 7.5 | ||||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(140 | ) | (7.0 | ) | 1.1 | (10.9 | ) | 5.3 | ||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(29 | ) | 16.2 | 25.4 | (2.1 | ) | 15.6 | |||||||||||||
|
||||||||||||||||||||
Net operating income |
470 | (8.9 | ) | (0.8 | ) | 1.4 | 19.9 | |||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(221 | ) | 3.0 | 11.7 | 5.0 | 24.1 | ||||||||||||||
|
||||||||||||||||||||
Other income |
(6 | ) | (38.1 | ) | (29.4 | ) | | | ||||||||||||
|
||||||||||||||||||||
Profit before taxes |
243 | (16.6 | ) | (9.1 | ) | (6.9 | ) | 10.1 | ||||||||||||
|
||||||||||||||||||||
Tax on profit |
(55 | ) | (17.9 | ) | (10.3 | ) | (7.1 | ) | 9.8 | |||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
187 | (16.2 | ) | (8.7 | ) | (6.8 | ) | 10.1 | ||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
187 | (16.2 | ) | (8.7 | ) | (6.8 | ) | 10.1 | ||||||||||||
|
||||||||||||||||||||
Minority interests |
45 | (11.8 | ) | (4.2 | ) | (7.1 | ) | 9.7 | ||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
143 | (17.5 | ) | (10.0 | ) | (6.7 | ) | 10.3 | ||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
28,702 | (4.8 | ) | (1.4 | ) | (1.4 | ) | 17.0 | ||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
17,505 | 3.3 | 7.0 | 5.0 | 24.5 | |||||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
5,632 | (5.7 | ) | (2.3 | ) | 38.5 | 64.4 | |||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
7,918 | 44.8 | 50.0 | (6.3 | ) | 11.2 | ||||||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
380 | (4.0 | ) | (0.6 | ) | (23.0 | ) | (8.7 | ) | |||||||||||
|
||||||||||||||||||||
Other assets |
5,498 | (5.0 | ) | (1.6 | ) | (13.1 | ) | 3.2 | ||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
65,636 | 1.4 | 5.0 | 0.8 | 19.6 | |||||||||||||||
|
||||||||||||||||||||
Customer deposits** |
28,214 | (0.2 | ) | 3.4 | (8.9 | ) | 8.1 | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
4,306 | (5.9 | ) | (2.6 | ) | (4.1 | ) | 13.7 | ||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
1,146 | (4.9 | ) | (1.5 | ) | (4.7 | ) | 13.1 | ||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
11,516 | (10.6 | ) | (7.4 | ) | 15.3 | 36.8 | |||||||||||||
|
||||||||||||||||||||
Other liabilities |
15,820 | 23.3 | 27.7 | 16.3 | 37.9 | |||||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
4,634 | (6.5 | ) | (3.2 | ) | (4.7 | ) | 13.1 | ||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
11,628 | 1.3 | 4.9 | (12.1 | ) | 4.3 | ||||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
11,628 | 1.3 | 4.9 | (12.1 | ) | 4.3 | ||||||||||||||
|
||||||||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
45,294 | (0.5 | ) | 3.0 | (9.2 | ) | 7.7 | |||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
12.95 | (1.24 | ) | (0.05 | ) | |||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
40.7 | 1.3 | (2.7 | ) | ||||||||||||||||
|
||||||||||||||||||||
NPL ratio |
3.06 | (0.32 | ) | (0.65 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL coverage |
97.5 | 6.9 | 9.1 | |||||||||||||||||
|
||||||||||||||||||||
Number of employees |
17,869 | 0.1 | 5.3 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
1,386 | 0.7 | 2.7 | |||||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
50
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Chile
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
421 | (3.2 | ) | (2.0 | ) | 5.8 | 16.3 | |||||||||||||
|
||||||||||||||||||||
Net fees |
88 | 4.0 | 5.0 | 1.1 | 11.2 | |||||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
48 | 114.5 | 104.7 | (26.2 | ) | (18.9 | ) | |||||||||||||
|
||||||||||||||||||||
Other operating income* |
(0 | ) | | | | | ||||||||||||||
|
||||||||||||||||||||
Gross income |
556 | 2.4 | 3.3 | 0.5 | 10.5 | |||||||||||||||
|
||||||||||||||||||||
Operating expenses |
(235 | ) | (9.6 | ) | (8.1 | ) | (1.1 | ) | 8.8 | |||||||||||
|
||||||||||||||||||||
General administrative expenses |
(216 | ) | (9.7 | ) | (8.3 | ) | (1.6 | ) | 8.2 | |||||||||||
|
||||||||||||||||||||
Personnel |
(128 | ) | (16.3 | ) | (14.7 | ) | 0.1 | 10.0 | ||||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(88 | ) | 1.9 | 3.0 | (4.0 | ) | 5.5 | |||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(19 | ) | (8.3 | ) | (6.4 | ) | 5.5 | 15.9 | ||||||||||||
|
||||||||||||||||||||
Net operating income |
321 | 13.4 | 13.7 | 1.7 | 11.8 | |||||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(109 | ) | (30.3 | ) | (28.8 | ) | (17.0 | ) | (8.7 | ) | ||||||||||
|
||||||||||||||||||||
Other income |
1 | (63.1 | ) | (60.5 | ) | (76.5 | ) | (74.2 | ) | |||||||||||
|
||||||||||||||||||||
Profit before taxes |
213 | 63.6 | 60.8 | 12.1 | 23.2 | |||||||||||||||
|
||||||||||||||||||||
Tax on profit |
(40 | ) | 134.4 | 127.7 | (6.8 | ) | 2.5 | |||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
173 | 52.9 | 50.6 | 17.6 | 29.3 | |||||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
173 | 52.9 | 50.6 | 17.6 | 29.3 | |||||||||||||||
|
||||||||||||||||||||
Minority interests |
52 | 44.9 | 43.2 | 24.8 | 37.2 | |||||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
122 | 56.5 | 53.9 | 14.8 | 26.2 | |||||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
33,350 | 3.1 | 1.7 | (3.4 | ) | 9.1 | ||||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
2,793 | (11.2 | ) | (12.4 | ) | (5.0 | ) | 7.2 | ||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
3,548 | 33.0 | 31.1 | 54.9 | 74.9 | |||||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
4,307 | (5.9 | ) | (7.3 | ) | (6.4 | ) | 5.7 | ||||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
354 | (0.3 | ) | (1.7 | ) | (7.4 | ) | 4.5 | ||||||||||||
|
||||||||||||||||||||
Other assets |
2,536 | (11.8 | ) | (13.0 | ) | (28.8 | ) | (19.7 | ) | |||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
46,888 | 2.0 | 0.6 | (2.9 | ) | 9.6 | ||||||||||||||
|
||||||||||||||||||||
Customer deposits** |
24,679 | 1.4 | (0.1 | ) | (6.9 | ) | 5.1 | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
6,301 | (3.1 | ) | (4.5 | ) | (14.9 | ) | (3.9 | ) | |||||||||||
|
||||||||||||||||||||
Subordinated debt** |
981 | 1.9 | 0.5 | (8.3 | ) | 3.5 | ||||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
6,287 | 6.8 | 5.3 | 42.6 | 61.0 | |||||||||||||||
|
||||||||||||||||||||
Other liabilities |
5,519 | 4.5 | 3.1 | (3.4 | ) | 9.1 | ||||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
3,121 | 4.8 | 3.3 | (2.2 | ) | 10.4 | ||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
7,063 | (4.2 | ) | (5.5 | ) | (10.3 | ) | 1.3 | ||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
5,079 | (6.3 | ) | (7.6 | ) | (12.3 | ) | (1.0 | ) | |||||||||||
|
||||||||||||||||||||
Managed portfolios |
1,984 | 1.8 | 0.4 | (4.5 | ) | 7.8 | ||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
39,024 | (0.4 | ) | (1.8 | ) | (8.9 | ) | 2.8 | ||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
16.43 | 5.45 | 2.48 | |||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
42.3 | (5.6 | ) | (0.7 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL ratio |
5.45 | (0.17 | ) | (0.43 | ) | |||||||||||||||
|
||||||||||||||||||||
NPL coverage |
54.6 | 0.7 | 2.6 | |||||||||||||||||
|
||||||||||||||||||||
Number of employees |
12,468 | 0.1 | 2.8 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
471 | (0.2 | ) | (1.1 | ) | |||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
51
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
United States
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
1,548 | (0.4 | ) | 0.3 | 5.8 | 3.6 | ||||||||||||||
|
||||||||||||||||||||
Net fees |
283 | (1.2 | ) | (0.6 | ) | 8.2 | 6.0 | |||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
20 | (44.8 | ) | (43.9 | ) | (59.9 | ) | (60.8 | ) | |||||||||||
|
||||||||||||||||||||
Other operating income* |
116 | 13.5 | 14.1 | 26.7 | 24.1 | |||||||||||||||
|
||||||||||||||||||||
Gross income |
1,968 | (0.6 | ) | 0.1 | 5.4 | 3.2 | ||||||||||||||
|
||||||||||||||||||||
Operating expenses |
(777 | ) | (6.1 | ) | (5.6 | ) | 11.7 | 9.4 | ||||||||||||
|
||||||||||||||||||||
General administrative expenses |
(703 | ) | (6.8 | ) | (6.3 | ) | 10.6 | 8.4 | ||||||||||||
|
||||||||||||||||||||
Personnel |
(416 | ) | 0.7 | 1.3 | 14.5 | 12.2 | ||||||||||||||
|
||||||||||||||||||||
Other general administrative expenses |
(287 | ) | (15.9 | ) | (15.5 | ) | 5.5 | 3.3 | ||||||||||||
|
||||||||||||||||||||
Depreciation and amortisation |
(74 | ) | 1.4 | 1.9 | 22.7 | 20.2 | ||||||||||||||
|
||||||||||||||||||||
Net operating income |
1,191 | 3.4 | 4.2 | 1.6 | (0.5 | ) | ||||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(861 | ) | (10.2 | ) | (9.9 | ) | 34.8 | 32.0 | ||||||||||||
|
||||||||||||||||||||
Other income |
(66 | ) | 28.7 | 29.0 | 255.5 | 248.3 | ||||||||||||||
|
||||||||||||||||||||
Profit before taxes |
264 | 86.4 | 93.5 | (48.7 | ) | (49.7 | ) | |||||||||||||
|
||||||||||||||||||||
Tax on profit |
(103 | ) | 43.6 | 46.6 | (34.5 | ) | (35.8 | ) | ||||||||||||
|
||||||||||||||||||||
Profit from continuing operations |
160 | 130.8 | 143.7 | (55.0 | ) | (55.9 | ) | |||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Consolidated profit |
160 | 130.8 | 143.7 | (55.0 | ) | (55.9 | ) | |||||||||||||
|
||||||||||||||||||||
Minority interests |
79 | 53.6 | 56.4 | (21.0 | ) | (22.6 | ) | |||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
82 | 347.5 | 427.4 | (68.2 | ) | (68.8 | ) | |||||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Customer loans** |
80,836 | (4.0 | ) | 0.4 | (1.9 | ) | 3.8 | |||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
2,366 | 2.9 | 7.6 | 55.3 | 64.3 | |||||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
18,227 | (4.8 | ) | (0.4 | ) | 10.1 | 16.6 | |||||||||||||
|
||||||||||||||||||||
Due from credit institutions** |
4,604 | 18.0 | 23.4 | (1.3 | ) | 4.5 | ||||||||||||||
|
||||||||||||||||||||
Intangible assets and property and equipment |
9,254 | 1.1 | 5.7 | 16.0 | 22.8 | |||||||||||||||
|
||||||||||||||||||||
Other assets |
20,581 | 73.1 | 81.0 | 113.0 | 125.4 | |||||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
135,868 | 4.0 | 8.8 | 10.7 | 17.1 | |||||||||||||||
|
||||||||||||||||||||
Customer deposits** |
59,526 | (1.0 | ) | 3.6 | (1.1 | ) | 4.7 | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities** |
21,528 | (6.4 | ) | (2.1 | ) | 12.0 | 18.5 | |||||||||||||
|
||||||||||||||||||||
Subordinated debt** |
885 | (2.3 | ) | 2.2 | (3.6 | ) | 2.0 | |||||||||||||
|
||||||||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Due to credit institutions** |
32,039 | 22.4 | 28.0 | 34.8 | 42.6 | |||||||||||||||
|
||||||||||||||||||||
Other liabilities |
8,720 | (3.9 | ) | 0.5 | 14.7 | 21.3 | ||||||||||||||
|
||||||||||||||||||||
Stockholders equity *** |
13,170 | 16.3 | 21.6 | 18.5 | 25.4 | |||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
18,293 | (6.1 | ) | (1.8 | ) | (19.1 | ) | (14.4 | ) | |||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
6,813 | (4.4 | ) | 0.0 | (20.2 | ) | (15.5 | ) | ||||||||||||
|
||||||||||||||||||||
Managed portfolios |
11,481 | (7.1 | ) | (2.8 | ) | (18.4 | ) | (13.7 | ) | |||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds**** |
82,288 | (2.3 | ) | 2.2 | (4.4 | ) | 1.2 | |||||||||||||
|
||||||||||||||||||||
Ratios (%) and operating means |
||||||||||||||||||||
|
||||||||||||||||||||
RoTE |
2.70 | 2.11 | (7.13 | ) | ||||||||||||||||
|
||||||||||||||||||||
Efficiency ratio (with amortisations) |
39.5 | (2.3 | ) | 2.2 | ||||||||||||||||
|
||||||||||||||||||||
NPL ratio |
2.19 | 0.06 | (0.01 | ) | ||||||||||||||||
|
||||||||||||||||||||
NPL coverage |
221.1 | (3.9 | ) | 9.6 | ||||||||||||||||
|
||||||||||||||||||||
Number of employees |
18,229 | 0.6 | 7.7 | |||||||||||||||||
|
||||||||||||||||||||
Number of branches |
773 | (1.3 | ) | (3.9 | ) | |||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
(****).- | Excluding marketable debt securities of Santander Consumer USA |
52
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Corporate Centre
million
Income statement | 1Q16 | 4Q15 | % | 1Q15 | % | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
(169 | ) | (137 | ) | 23.3 | (220 | ) | (23.4 | ) | |||||||||||
|
||||||||||||||||||||
Net fees |
(5 | ) | (6 | ) | (19.0 | ) | (2 | ) | 178.8 | |||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
(32 | ) | 116 | | 12 | | ||||||||||||||
|
||||||||||||||||||||
Other operating income |
(18 | ) | (6 | ) | 200.9 | (19 | ) | (7.1 | ) | |||||||||||
|
||||||||||||||||||||
Dividends |
2 | 9 | (78.5 | ) | 1 | 67.3 | ||||||||||||||
|
||||||||||||||||||||
Income from equity-accounted method |
(16 | ) | (6 | ) | 161.4 | (12 | ) | 32.4 | ||||||||||||
|
||||||||||||||||||||
Other operating income/expenses |
(4 | ) | (9 | ) | (57.7 | ) | (8 | ) | (56.1 | ) | ||||||||||
|
||||||||||||||||||||
Gross income |
(223 | ) | (32 | ) | 598.8 | (230 | ) | (2.8 | ) | |||||||||||
|
||||||||||||||||||||
Operating expenses |
(126 | ) | (112 | ) | 12.3 | (142 | ) | (11.3 | ) | |||||||||||
|
||||||||||||||||||||
Net operating income |
(349 | ) | (144 | ) | 142.3 | (372 | ) | (6.1 | ) | |||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
1 | 26 | (95.6 | ) | (1 | ) | | |||||||||||||
|
||||||||||||||||||||
Other income |
(5 | ) | (130 | ) | (96.1 | ) | (98 | ) | (94.8 | ) | ||||||||||
|
||||||||||||||||||||
Ordinary profit before taxes |
(353 | ) | (247 | ) | 42.8 | (470 | ) | (24.9 | ) | |||||||||||
|
||||||||||||||||||||
Tax on profit |
36 | 131 | (72.6 | ) | 5 | 639.3 | ||||||||||||||
|
||||||||||||||||||||
Ordinary profit from continuing operations |
(317 | ) | (117 | ) | 171.8 | (465 | ) | (31.8 | ) | |||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | 0 | (100.0 | ) | ||||||||||||||
|
||||||||||||||||||||
Ordinary consolidated profit |
(317 | ) | (117 | ) | 171.8 | (465 | ) | (31.8 | ) | |||||||||||
|
||||||||||||||||||||
Minority interests |
(6 | ) | 2 | | 26 | | ||||||||||||||
|
||||||||||||||||||||
Ordinary attributable profit to the Group |
(311 | ) | (119 | ) | 161.9 | (491 | ) | (36.7 | ) | |||||||||||
|
||||||||||||||||||||
Net capital gains and provisions |
| (1,435 | ) | (100.0 | ) | | | |||||||||||||
|
||||||||||||||||||||
Attributable profit to the Group |
(311 | ) | (1,554 | ) | (80.0 | ) | (491 | ) | (36.7 | ) | ||||||||||
|
||||||||||||||||||||
Balance sheet |
||||||||||||||||||||
|
||||||||||||||||||||
Trading portfolio (w/o loans) |
1,616 | 2,656 | (39.1 | ) | 3,859 | (58.1 | ) | |||||||||||||
|
||||||||||||||||||||
Available-for-sale financial assets |
3,654 | 3,773 | (3.2 | ) | 3,376 | 8.2 | ||||||||||||||
|
||||||||||||||||||||
Goodwill |
26,209 | 26,960 | (2.8 | ) | 28,666 | (8.6 | ) | |||||||||||||
|
||||||||||||||||||||
Capital assigned to Group areas |
84,715 | 77,163 | 9.8 | 83,180 | 1.8 | |||||||||||||||
|
||||||||||||||||||||
Other assets |
20,060 | 37,583 | (46.6 | ) | 36,449 | (45.0 | ) | |||||||||||||
|
||||||||||||||||||||
Total assets/liabilities & shareholders equity |
136,255 | 148,136 | (8.0 | ) | 155,531 | (12.4 | ) | |||||||||||||
|
||||||||||||||||||||
Customer deposits* |
1,610 | 5,185 | (69.0 | ) | 2,554 | (37.0 | ) | |||||||||||||
|
||||||||||||||||||||
Marketable debt securities* |
24,285 | 27,791 | (12.6 | ) | 26,410 | (8.0 | ) | |||||||||||||
|
||||||||||||||||||||
Subordinated debt* |
8,195 | 9,596 | (14.6 | ) | 5,855 | 40.0 | ||||||||||||||
|
||||||||||||||||||||
Other liabilities |
16,879 | 21,049 | (19.8 | ) | 25,136 | (32.8 | ) | |||||||||||||
|
||||||||||||||||||||
Stockholders equity ** |
85,286 | 84,515 | 0.9 | 95,576 | (10.8 | ) | ||||||||||||||
|
||||||||||||||||||||
Other managed and marketed customer funds |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Mutual and pension funds |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Managed and marketed customer funds |
34,090 | 42,572 | (19.9 | ) | 34,820 | (2.1 | ) | |||||||||||||
|
||||||||||||||||||||
Operating means |
||||||||||||||||||||
|
||||||||||||||||||||
Number of employees |
1,974 | 2,006 | (1.6 | ) | 2,125 | (7.1 | ) | |||||||||||||
|
53
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Retail Banking
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
7,154 | (2.2 | ) | 1.2 | (4.6 | ) | 5.5 | |||||||||||||
|
||||||||||||||||||||
Net fees |
2,044 | (2.8 | ) | 1.7 | (5.3 | ) | 6.7 | |||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
180 | (39.3 | ) | (41.2 | ) | (48.0 | ) | (46.9 | ) | |||||||||||
|
||||||||||||||||||||
Other operating income* |
173 | | | (2.6 | ) | (3.4 | ) | |||||||||||||
|
||||||||||||||||||||
Gross income |
9,552 | 0.2 | 3.7 | (6.2 | ) | 3.7 | ||||||||||||||
|
||||||||||||||||||||
Operating expenses |
(4,492 | ) | (5.2 | ) | (1.3 | ) | (3.2 | ) | 7.3 | |||||||||||
|
||||||||||||||||||||
Net operating income |
5,060 | 5.6 | 8.6 | (8.7 | ) | 0.6 | ||||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(2,161 | ) | (5.6 | ) | (2.8 | ) | (6.8 | ) | 3.3 | |||||||||||
|
||||||||||||||||||||
Other income |
(416 | ) | (2.3 | ) | (2.1 | ) | 11.9 | 33.1 | ||||||||||||
|
||||||||||||||||||||
Ordinary profit before taxes |
2,482 | 19.5 | 23.4 | (12.9 | ) | (5.4 | ) | |||||||||||||
|
||||||||||||||||||||
Tax on profit |
(673 | ) | 32.7 | 33.7 | (11.1 | ) | (2.8 | ) | ||||||||||||
|
||||||||||||||||||||
Ordinary profit from continuing operations |
1,809 | 15.3 | 20.0 | (13.5 | ) | (6.3 | ) | |||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | (100.0 | ) | (100.0 | ) | |||||||||||||
|
||||||||||||||||||||
Ordinary consolidated profit |
1,809 | 15.3 | 20.0 | (13.5 | ) | (6.3 | ) | |||||||||||||
|
||||||||||||||||||||
Minority interests |
255 | 16.5 | 19.0 | (10.3 | ) | (4.3 | ) | |||||||||||||
|
||||||||||||||||||||
Ordinary attributable profit to the Group |
1,554 | 15.1 | 20.2 | (14.1 | ) | (6.6 | ) | |||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
54
FINANCIAL REPORT 2016 | ||
JANUARY - MARCH | ||
Appendix |
Global Corporate Banking
million
/ 4Q15 | / 1Q15 | |||||||||||||||||||
Income statement | 1Q16 | % | % w/o FX | % | % w/o FX | |||||||||||||||
|
||||||||||||||||||||
Net interest income |
650 | (10.9 | ) | (5.9 | ) | (16.2 | ) | (2.1 | ) | |||||||||||
|
||||||||||||||||||||
Net fees |
357 | 2.2 | 5.9 | (2.6 | ) | 7.8 | ||||||||||||||
|
||||||||||||||||||||
Gains (losses) on financial transactions |
356 | 48.2 | 63.6 | 21.6 | 34.1 | |||||||||||||||
|
||||||||||||||||||||
Other operating income* |
40 | (22.5 | ) | (23.6 | ) | 95.8 | 87.4 | |||||||||||||
|
||||||||||||||||||||
Gross income |
1,403 | 2.3 | 8.1 | (3.6 | ) | 9.4 | ||||||||||||||
|
||||||||||||||||||||
Operating expenses |
(485 | ) | (6.6 | ) | (2.9 | ) | (8.3 | ) | (0.6 | ) | ||||||||||
|
||||||||||||||||||||
Net operating income |
917 | 7.8 | 15.0 | (0.9 | ) | 15.6 | ||||||||||||||
|
||||||||||||||||||||
Net loan-loss provisions |
(223 | ) | (14.9 | ) | (10.4 | ) | 10.9 | 32.6 | ||||||||||||
|
||||||||||||||||||||
Other income |
(0 | ) | (99.6 | ) | (99.6 | ) | | | ||||||||||||
|
||||||||||||||||||||
Ordinary profit before taxes |
694 | 27.9 | 37.6 | (4.8 | ) | 10.8 | ||||||||||||||
|
||||||||||||||||||||
Tax on profit |
(200 | ) | 31.7 | 44.1 | (3.2 | ) | 14.8 | |||||||||||||
|
||||||||||||||||||||
Ordinary profit from continuing operations |
494 | 26.4 | 35.1 | (5.5 | ) | 9.3 | ||||||||||||||
|
||||||||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
|
||||||||||||||||||||
Ordinary consolidated profit |
494 | 26.4 | 35.1 | (5.5 | ) | 9.3 | ||||||||||||||
|
||||||||||||||||||||
Minority interests |
41 | 79.8 | 80.8 | 7.2 | 31.8 | |||||||||||||||
|
||||||||||||||||||||
Ordinary attributable profit to the Group |
454 | 23.1 | 32.1 | (6.4 | ) | 7.7 | ||||||||||||||
|
(*).- | Including dividends. income from equity-accounted method and other operating income/expenses |
(1) | Global Transaction Banking: includes the business of cash management, trade finance, basic financing and custody. |
(2) | Financing Solutions & Advisory: includes the units of origination and distribution of corporate loans and structured financings, bond and securitisation origination teams, corporate finance units (mergers and acquisitions, primary markets of equities, investment solutions for corporate clients via derivatives), and asset & based finance. |
(3) | Global Markets: includes the sale and distribution of fixed income and equity derivatives, interest rates and inflation; the trading and hedging of exchange rates, and short-term money markets for the Group»s wholesale and retail clients; management of books associated with distribution; and brokerage of equities, and derivatives for investment and hedging solutions. |
55
Key consolidated data
Variation | ||||||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | 2015 | ||||||||||||||||
Balance sheet ( million) |
||||||||||||||||||||
Total assets |
1,324,200 | 1,369,689 | (45,489 | ) | (3.3 | ) | 1,340,260 | |||||||||||||
Net customer loans |
773,452 | 793,965 | (20,513 | ) | (2.6 | ) | 790,848 | |||||||||||||
Customer deposits |
670,607 | 687,362 | (16,755 | ) | (2.4 | ) | 683,122 | |||||||||||||
Managed and marketed customer funds |
1,057,969 | 1,091,174 | (33,205 | ) | (3.0 | ) | 1,075,565 | |||||||||||||
Total equity |
98,781 | 102,105 | (3,324 | ) | (3.3 | ) | 98,753 | |||||||||||||
Total managed and marketed funds |
1,489,950 | 1,545,444 | (55,494 | ) | (3.6 | ) | 1,506,520 | |||||||||||||
Underlying income statement* ( million) |
||||||||||||||||||||
Net interest income |
7,624 | 8,038 | (414 | ) | (5.2 | ) | 32,189 | |||||||||||||
Gross income |
10,730 | 11,444 | (714 | ) | (6.2 | ) | 45,272 | |||||||||||||
Pre-provision profit (net operating income) |
5,572 | 6,067 | (494 | ) | (8.1 | ) | 23,702 | |||||||||||||
Profit before taxes |
2,732 | 2,990 | (258 | ) | (8.6 | ) | 10,939 | |||||||||||||
Attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 6,566 | |||||||||||||
(*).- Variations w/o exchange rate |
||||||||||||||||||||
Net interest income: +5.2%; Gross income: +4.1%; Pre-provision profit: +2.8%; Attributable profit: +8.2% |
| |||||||||||||||||||
Underlying EPS, profitability and efficiency (%) |
||||||||||||||||||||
EPS (euro) |
0.11 | 0.12 | (0.01 | ) | (10.8 | ) | 0.45 | |||||||||||||
RoE |
7.5 | 7.6 | 7.2 | |||||||||||||||||
RoTE |
11.1 | 11.5 | 11.0 | |||||||||||||||||
RoA |
0.6 | 0.6 | 0.6 | |||||||||||||||||
RoRWA |
1.3 | 1.4 | 1.3 | |||||||||||||||||
Efficiency ratio (with amortisations) |
48.1 | 47.0 | 47.6 | |||||||||||||||||
Solvency and NPL ratios (%) |
||||||||||||||||||||
CET1 fully-loaded |
10.27 | 9.67 | 10.05 | |||||||||||||||||
CET1 phase-in |
12.36 | 11.91 | 12.55 | |||||||||||||||||
NPL ratio |
4.33 | 4.85 | 4.36 | |||||||||||||||||
Coverage ratio |
74.0 | 68.9 | 73.1 | |||||||||||||||||
Market capitalisation and shares |
||||||||||||||||||||
Shares (millions) |
14,434 | 14,061 | 374 | 2.7 | 14,434 | |||||||||||||||
Share price (euros) |
3.874 | 7.017 | (3.143 | ) | (44.8 | ) | 4.558 | |||||||||||||
Market capitalisation ( million) |
55,919 | 98,663 | (42,744 | ) | (43.3 | ) | 65,792 | |||||||||||||
Book value (euro) |
6.06 | 6.55 | 6.12 | |||||||||||||||||
Price / Book value (X) |
0.64 | 1.07 | 0.75 | |||||||||||||||||
P/E ratio (X) |
8.99 | 14.54 | 10.23 | |||||||||||||||||
Other data |
||||||||||||||||||||
Number of shareholders |
3,682,927 | 3,230,808 | 452,119 | 14.0 | 3,573,277 | |||||||||||||||
Number of employees |
194,519 | 187,262 | 7,257 | 3.9 | 193,863 | |||||||||||||||
Number of branches |
12,962 | 12,920 | 42 | 0.3 | 13,030 | |||||||||||||||
Information on total profit ** |
||||||||||||||||||||
Attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 5,966 | |||||||||||||
EPS (euro) |
0.11 | 0.12 | (0.01 | ) | (10.8 | ) | 0.40 | |||||||||||||
RoE |
7.5 | 7.6 | 6.6 | |||||||||||||||||
RoTE |
11.1 | 11.5 | 10.0 | |||||||||||||||||
RoA |
0.6 | 0.6 | 0.5 | |||||||||||||||||
RoRWA |
1.3 | 1.4 | 1.2 | |||||||||||||||||
P/E ratio (X) |
8.99 | 14.54 | 11.30 |
(*).- | Excluding non-recurring net capital gains and provisions (2015: - 600 million) |
(**).- | Including non-recurring net capital gains and provisions (2015: - 600 million) |
Note: The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on April, 26 2016, following a favourable report from the Audit Committee on April, 20 2016. The Audit Committee verified that the information for 2016 was based on the same principles and practices as those used to draw up the annual financial statements.
1
Income statement
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Net interest income |
7,624 | 8,038 | (414 | ) | (5.2 | ) | ||||||||||
Net fees |
2,397 | 2,524 | (127 | ) | (5.0 | ) | ||||||||||
Gains (losses) on financial transactions |
504 | 695 | (191 | ) | (27.5 | ) | ||||||||||
Other operating income |
204 | 186 | 19 | 10.0 | ||||||||||||
Dividends |
44 | 33 | 10 | 31.5 | ||||||||||||
Income from equity-accounted method |
83 | 99 | (16 | ) | (16.4 | ) | ||||||||||
Other operating income/expenses |
78 | 53 | 24 | 45.8 | ||||||||||||
Gross income |
10,730 | 11,444 | (714 | ) | (6.2 | ) | ||||||||||
Operating expenses |
(5,158 | ) | (5,377 | ) | 220 | (4.1 | ) | |||||||||
General administrative expenses |
(4,572 | ) | (4,785 | ) | 213 | (4.5 | ) | |||||||||
Personnel |
(2,683 | ) | (2,755 | ) | 72 | (2.6 | ) | |||||||||
Other general administrative expenses |
(1,889 | ) | (2,030 | ) | 141 | (7.0 | ) | |||||||||
Depreciation and amortisation |
(586 | ) | (592 | ) | 6 | (1.0 | ) | |||||||||
Net operating income |
5,572 | 6,067 | (494 | ) | (8.1 | ) | ||||||||||
Net loan-loss provisions |
(2,408 | ) | (2,563 | ) | 155 | (6.0 | ) | |||||||||
Impairment losses on other assets |
(44 | ) | (60 | ) | 16 | (27.3 | ) | |||||||||
Other income |
(389 | ) | (454 | ) | 65 | (14.3 | ) | |||||||||
Underlying profit before taxes |
2,732 | 2,990 | (258 | ) | (8.6 | ) | ||||||||||
Tax on profit |
(810 | ) | (922 | ) | 112 | (12.2 | ) | |||||||||
Underlying profit from continuing operations |
1,922 | 2,067 | (146 | ) | (7.0 | ) | ||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Underlying consolidated profit |
1,922 | 2,067 | (146 | ) | (7.0 | ) | ||||||||||
Minority interests |
288 | 350 | (62 | ) | (17.6 | ) | ||||||||||
Underlying attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | ||||||||||
Net capital gains and provisions |
| | | | ||||||||||||
Attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | ||||||||||
Underlying EPS (euros) |
0.11 | 0.12 | (0.01 | ) | (10.8 | ) | ||||||||||
Underlying diluted EPS (euros) |
0.11 | 0.12 | (0.01 | ) | (11.0 | ) | ||||||||||
EPS (euros) |
0.11 | 0.12 | (0.01 | ) | (10.8 | ) | ||||||||||
Diluted EPS (euros) |
0.11 | 0.12 | (0.01 | ) | (11.0 | ) | ||||||||||
Pro memoria: |
||||||||||||||||
Average total assets |
1,335,115 | 1,334,337 | 778 | 0.1 | ||||||||||||
Average stockholders equity |
87,571 | 90,903 | (3,332 | ) | (3.7 | ) |
2
Quarterly income statement
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Net interest income |
8,038 | 8,281 | 7,983 | 7,888 | 7,624 | |||||||||||||||
Net fees |
2,524 | 2,586 | 2,474 | 2,448 | 2,397 | |||||||||||||||
Gains (losses) on financial transactions |
695 | 372 | 634 | 684 | 504 | |||||||||||||||
Other operating income |
186 | 379 | 225 | (126 | ) | 204 | ||||||||||||||
Dividends |
33 | 239 | 75 | 107 | 44 | |||||||||||||||
Income from equity-accounted method |
99 | 101 | 93 | 82 | 83 | |||||||||||||||
Other operating income/expenses |
53 | 39 | 57 | (315 | ) | 78 | ||||||||||||||
Gross income |
11,444 | 11,618 | 11,316 | 10,894 | 10,730 | |||||||||||||||
Operating expenses |
(5,377 | ) | (5,429 | ) | (5,342 | ) | (5,422 | ) | (5,158 | ) | ||||||||||
General administrative expenses |
(4,785 | ) | (4,826 | ) | (4,731 | ) | (4,810 | ) | (4,572 | ) | ||||||||||
Personnel |
(2,755 | ) | (2,836 | ) | (2,717 | ) | (2,799 | ) | (2,683 | ) | ||||||||||
Other general administrative expenses |
(2,030 | ) | (1,989 | ) | (2,015 | ) | (2,011 | ) | (1,889 | ) | ||||||||||
Depreciation and amortisation |
(592 | ) | (603 | ) | (611 | ) | (612 | ) | (586 | ) | ||||||||||
Net operating income |
6,067 | 6,189 | 5,974 | 5,472 | 5,572 | |||||||||||||||
Net loan-loss provisions |
(2,563 | ) | (2,508 | ) | (2,479 | ) | (2,558 | ) | (2,408 | ) | ||||||||||
Impairment losses on other assets |
(60 | ) | (78 | ) | (110 | ) | (215 | ) | (44 | ) | ||||||||||
Other income |
(454 | ) | (605 | ) | (606 | ) | (526 | ) | (389 | ) | ||||||||||
Underlying profit before taxes |
2,990 | 2,998 | 2,778 | 2,173 | 2,732 | |||||||||||||||
Tax on profit |
(922 | ) | (939 | ) | (787 | ) | (471 | ) | (810 | ) | ||||||||||
Underlying profit from continuing operations |
2,067 | 2,059 | 1,991 | 1,702 | 1,922 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Underlying consolidated profit |
2,067 | 2,059 | 1,991 | 1,702 | 1,922 | |||||||||||||||
Minority interests |
350 | 350 | 311 | 242 | 288 | |||||||||||||||
Underlying attributable profit to the Group |
1,717 | 1,709 | 1,680 | 1,460 | 1,633 | |||||||||||||||
Net capital gains and provisions |
| 835 | | (1,435 | ) | | ||||||||||||||
Attributable profit to the Group |
1,717 | 2,544 | 1,680 | 25 | 1,633 | |||||||||||||||
Underlying EPS (euros) |
0.12 | 0.12 | 0.11 | 0.10 | 0.11 | |||||||||||||||
Underlying diluted EPS (euros) |
0.12 | 0.12 | 0.11 | 0.10 | 0.11 |
3
Income statement
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Net interest income |
7,624 | 7,210 | 413 | 5.7 | ||||||||||||
Net fees |
2,397 | 2,246 | 151 | 6.7 | ||||||||||||
Gains (losses) on financial transactions |
504 | 661 | (156 | ) | (23.7 | ) | ||||||||||
Other operating income |
204 | 188 | 16 | 8.6 | ||||||||||||
Dividends |
44 | 33 | 11 | 32.6 | ||||||||||||
Income from equity-accounted method |
83 | 82 | 1 | 1.1 | ||||||||||||
Other operating income/expenses |
78 | 73 | 4 | 6.1 | ||||||||||||
Gross income |
10,730 | 10,306 | 424 | 4.1 | ||||||||||||
Operating expenses |
(5,158 | ) | (4,883 | ) | (275 | ) | 5.6 | |||||||||
General administrative expenses |
(4,572 | ) | (4,335 | ) | (237 | ) | 5.5 | |||||||||
Personnel |
(2,683 | ) | (2,515 | ) | (168 | ) | 6.7 | |||||||||
Other general administrative expenses |
(1,889 | ) | (1,820 | ) | (69 | ) | 3.8 | |||||||||
Depreciation and amortisation |
(586 | ) | (548 | ) | (38 | ) | 6.9 | |||||||||
Net operating income |
5,572 | 5,423 | 150 | 2.8 | ||||||||||||
Net loan-loss provisions |
(2,408 | ) | (2,303 | ) | (105 | ) | 4.5 | |||||||||
Impairment losses on other assets |
(44 | ) | (59 | ) | 15 | (25.5 | ) | |||||||||
Other income |
(389 | ) | (400 | ) | 11 | (2.8 | ) | |||||||||
Underlying profit before taxes |
2,732 | 2,660 | 71 | 2.7 | ||||||||||||
Tax on profit |
(810 | ) | (826 | ) | 16 | (1.9 | ) | |||||||||
Underlying profit from continuing operations |
1,922 | 1,835 | 87 | 4.7 | ||||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Underlying consolidated profit |
1,922 | 1,835 | 87 | 4.7 | ||||||||||||
Minority interests |
288 | 325 | (37 | ) | (11.3 | ) | ||||||||||
Underlying attributable profit to the Group |
1,633 | 1,510 | 124 | 8.2 | ||||||||||||
Net capital gains and provisions |
| | | | ||||||||||||
Attributable profit to the Group |
1,633 | 1,510 | 124 | 8.2 |
4
Quarterly income statement
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Net interest income |
7,210 | 7,465 | 7,561 | 7,608 | 7,624 | |||||||||||||||
Net fees |
2,246 | 2,318 | 2,321 | 2,342 | 2,397 | |||||||||||||||
Gains (losses) on financial transactions |
661 | 333 | 616 | 671 | 504 | |||||||||||||||
Other operating income |
188 | 373 | 222 | (118 | ) | 204 | ||||||||||||||
Dividends |
33 | 231 | 73 | 107 | 44 | |||||||||||||||
Income from equity-accounted method |
82 | 86 | 85 | 78 | 83 | |||||||||||||||
Other operating income/expenses |
73 | 56 | 63 | (303 | ) | 78 | ||||||||||||||
Gross income |
10,306 | 10,489 | 10,719 | 10,502 | 10,730 | |||||||||||||||
Operating expenses |
(4,883 | ) | (4,947 | ) | (5,067 | ) | (5,217 | ) | (5,158 | ) | ||||||||||
General administrative expenses |
(4,335 | ) | (4,387 | ) | (4,478 | ) | (4,623 | ) | (4,572 | ) | ||||||||||
Personnel |
(2,515 | ) | (2,597 | ) | (2,582 | ) | (2,700 | ) | (2,683 | ) | ||||||||||
Other general administrative expenses |
(1,820 | ) | (1,790 | ) | (1,896 | ) | (1,923 | ) | (1,889 | ) | ||||||||||
Depreciation and amortisation |
(548 | ) | (561 | ) | (589 | ) | (594 | ) | (586 | ) | ||||||||||
Net operating income |
5,423 | 5,542 | 5,653 | 5,286 | 5,572 | |||||||||||||||
Net loan-loss provisions |
(2,303 | ) | (2,265 | ) | (2,361 | ) | (2,478 | ) | (2,408 | ) | ||||||||||
Impairment losses on other assets |
(59 | ) | (75 | ) | (99 | ) | (208 | ) | (44 | ) | ||||||||||
Other income |
(400 | ) | (546 | ) | (580 | ) | (531 | ) | (389 | ) | ||||||||||
Underlying profit before taxes |
2,660 | 2,656 | 2,612 | 2,069 | 2,732 | |||||||||||||||
Tax on profit |
(826 | ) | (847 | ) | (758 | ) | (453 | ) | (810 | ) | ||||||||||
Underlying profit from continuing operations |
1,835 | 1,809 | 1,854 | 1,615 | 1,922 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Underlying consolidated profit |
1,835 | 1,809 | 1,854 | 1,615 | 1,922 | |||||||||||||||
Minority interests |
325 | 320 | 299 | 238 | 288 | |||||||||||||||
Underlying attributable profit to the Group |
1,510 | 1,489 | 1,555 | 1,378 | 1,633 | |||||||||||||||
Net capital gains and provisions |
| 835 | | (1,435 | ) | | ||||||||||||||
Attributable profit to the Group |
1,510 | 2,324 | 1,555 | (57 | ) | 1,633 |
5
Exchange rates: 1 euro / currency parity
Average | Period-end | |||||||||||||||||||
1Q 16 | 1Q 15 | 31.03.16 | 31.12.15 | 31.03.15 | ||||||||||||||||
US$ |
1.102 | 1.125 | 1.139 | 1.089 | 1.076 | |||||||||||||||
Pound sterling |
0.770 | 0.743 | 0.792 | 0.734 | 0.727 | |||||||||||||||
Brazilian real |
4.296 | 3.215 | 4.117 | 4.312 | 3.496 | |||||||||||||||
Mexican peso |
19.877 | 16.820 | 19.590 | 18.915 | 16.512 | |||||||||||||||
Chilean peso |
772.566 | 702.753 | 762.943 | 773.772 | 675.880 | |||||||||||||||
Argentine peso |
15.890 | 9.774 | 16.666 | 14.140 | 9.483 | |||||||||||||||
Polish zloty |
4.363 | 4.191 | 4.258 | 4.264 | 4.085 |
6
Net fees
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Fees from services |
1,449 | 1,510 | (61 | ) | (4.0 | ) | ||||||||||
Mutual & pension funds |
182 | 240 | (58 | ) | (24.1 | ) | ||||||||||
Securities and custody |
224 | 216 | 9 | 4.1 | ||||||||||||
Insurance |
542 | 559 | (17 | ) | (3.1 | ) | ||||||||||
Net fee income |
2,397 | 2,524 | (127 | ) | (5.0 | ) |
7
Operating expenses
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Personnel expenses |
2,683 | 2,755 | (72 | ) | (2.6 | ) | ||||||||||
General expenses |
1,889 | 2,030 | (141 | ) | (7.0 | ) | ||||||||||
Information technology |
289 | 287 | 2 | 0.7 | ||||||||||||
Communications |
130 | 133 | (4 | ) | (2.6 | ) | ||||||||||
Advertising |
146 | 156 | (10 | ) | (6.2 | ) | ||||||||||
Buildings and premises |
437 | 475 | (38 | ) | (8.0 | ) | ||||||||||
Printed and office material |
34 | 38 | (4 | ) | (10.4 | ) | ||||||||||
Taxes (other than profit tax) |
119 | 134 | (15 | ) | (11.2 | ) | ||||||||||
Other expenses |
733 | 806 | (73 | ) | (9.0 | ) | ||||||||||
Personnel and general expenses |
4,572 | 4,785 | (213 | ) | (4.5 | ) | ||||||||||
Depreciation and amortisation |
586 | 592 | (6 | ) | (1.0 | ) | ||||||||||
Total operating expenses |
5,158 | 5,377 | (220 | ) | (4.1 | ) |
8
Net loan-loss provisions
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Non performing loans |
2,771 | 2,906 | (135 | ) | (4.6 | ) | ||||||||||
Country-risk |
(3 | ) | 1 | (4 | ) | | ||||||||||
Recovery of written-off assets |
(360 | ) | (343 | ) | (16 | ) | 4.7 | |||||||||
Total |
2,408 | 2,563 | (155 | ) | (6.0 | ) |
9
Balance sheet
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
Assets |
||||||||||||||||||||
Cash on hand and deposits at central banks |
73,239 | 67,741 | 5,498 | 8.1 | 81,329 | |||||||||||||||
Trading portfolio |
152,621 | 168,709 | (16,088 | ) | (9.5 | ) | 147,287 | |||||||||||||
Debt securities |
50,060 | 53,564 | (3,504 | ) | (6.5 | ) | 43,964 | |||||||||||||
Customer loans |
6,866 | 5,726 | 1,140 | 19.9 | 6,081 | |||||||||||||||
Equities |
14,584 | 15,412 | (828 | ) | (5.4 | ) | 18,225 | |||||||||||||
Trading derivatives |
76,643 | 89,305 | (12,662 | ) | (14.2 | ) | 76,724 | |||||||||||||
Deposits from credit institutions |
4,468 | 4,702 | (234 | ) | (5.0 | ) | 2,293 | |||||||||||||
Other financial assets at fair value |
48,771 | 48,892 | (121 | ) | (0.2 | ) | 45,043 | |||||||||||||
Customer loans |
13,884 | 10,201 | 3,683 | 36.1 | 14,293 | |||||||||||||||
Other (deposits at credit institutions, debt securities and |
34,887 | 38,691 | (3,804 | ) | (9.8 | ) | 30,750 | |||||||||||||
Available-for-sale financial assets |
118,298 | 124,536 | (6,238 | ) | (5.0 | ) | 122,036 | |||||||||||||
Debt securities |
113,656 | 118,974 | (5,318 | ) | (4.5 | ) | 117,187 | |||||||||||||
Equities |
4,642 | 5,562 | (920 | ) | (16.5 | ) | 4,849 | |||||||||||||
Loans |
817,409 | 847,887 | (30,478 | ) | (3.6 | ) | 831,637 | |||||||||||||
Deposits at credit institutions |
52,220 | 62,600 | (10,380 | ) | (16.6 | ) | 50,256 | |||||||||||||
Customer loans |
752,702 | 778,038 | (25,336 | ) | (3.3 | ) | 770,474 | |||||||||||||
Debt securities |
12,487 | 7,250 | 5,237 | 72.2 | 10,907 | |||||||||||||||
Held-to-maturity investments |
4,566 | | 4,566 | | 4,355 | |||||||||||||||
Investments |
3,350 | 3,564 | (214 | ) | (6.0 | ) | 3,251 | |||||||||||||
Intangible assets and property and equipment |
27,949 | 27,238 | 711 | 2.6 | 27,790 | |||||||||||||||
Goodwill |
26,209 | 28,667 | (2,458 | ) | (8.6 | ) | 26,960 | |||||||||||||
Other |
51,788 | 52,455 | (667 | ) | (1.3 | ) | 50,572 | |||||||||||||
Total assets |
1,324,200 | 1,369,689 | (45,489 | ) | (3.3 | ) | 1,340,260 | |||||||||||||
Liabilities and shareholders equity |
||||||||||||||||||||
Trading portfolio |
108,567 | 125,507 | (16,940 | ) | (13.5 | ) | 105,218 | |||||||||||||
Customer deposits |
9,570 | 6,794 | 2,776 | 40.9 | 9,187 | |||||||||||||||
Marketable debt securities |
0 | | 0 | | | |||||||||||||||
Trading derivatives |
78,608 | 92,439 | (13,831 | ) | (15.0 | ) | 76,414 | |||||||||||||
Other |
20,389 | 26,273 | (5,884 | ) | (22.4 | ) | 19,617 | |||||||||||||
Other financial liabilities at fair value |
63,404 | 64,078 | (674 | ) | (1.1 | ) | 54,768 | |||||||||||||
Customer deposits |
28,484 | 40,190 | (11,706 | ) | (29.1 | ) | 26,357 | |||||||||||||
Marketable debt securities |
3,445 | 3,958 | (513 | ) | (13.0 | ) | 3,373 | |||||||||||||
Due to central banks and credit institutions |
31,475 | 19,929 | 11,546 | 57.9 | 25,038 | |||||||||||||||
Financial liabilities at amortized cost |
1,012,407 | 1,031,385 | (18,978 | ) | (1.8 | ) | 1,039,343 | |||||||||||||
Due to central banks and credit institutions |
138,318 | 142,133 | (3,815 | ) | (2.7 | ) | 148,079 | |||||||||||||
Customer deposits |
632,554 | 640,378 | (7,824 | ) | (1.2 | ) | 647,578 | |||||||||||||
Marketable debt securities |
197,383 | 204,353 | (6,970 | ) | (3.4 | ) | 201,656 | |||||||||||||
Subordinated debt |
20,784 | 19,746 | 1,038 | 5.3 | 21,153 | |||||||||||||||
Other financial liabilities |
23,368 | 24,775 | (1,407 | ) | (5.7 | ) | 20,877 | |||||||||||||
Insurance liabilities |
656 | 670 | (14 | ) | (2.1 | ) | 627 | |||||||||||||
Provisions |
14,292 | 15,452 | (1,160 | ) | (7.5 | ) | 14,494 | |||||||||||||
Other liability accounts |
26,093 | 30,492 | (4,399 | ) | (14.4 | ) | 27,057 | |||||||||||||
Total liabilities |
1,225,419 | 1,267,584 | (42,165 | ) | (3.3 | ) | 1,241,507 | |||||||||||||
Shareholders equity |
103,264 | 99,987 | 3,277 | 3.3 | 102,402 | |||||||||||||||
Capital stock |
7,217 | 7,030 | 187 | 2.7 | 7,217 | |||||||||||||||
Reserves |
94,414 | 91,240 | 3,174 | 3.5 | 90,765 | |||||||||||||||
Attributable profit to the Group |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 5,966 | |||||||||||||
Less: dividends |
| | | | (1,546 | ) | ||||||||||||||
Equity adjustments by valuation |
(15,949 | ) | (8,072 | ) | (7,877 | ) | 97.6 | (14,362 | ) | |||||||||||
Minority interests |
11,466 | 10,190 | 1,276 | 12.5 | 10,713 | |||||||||||||||
Total equity |
98,781 | 102,105 | (3,324 | ) | (3.3 | ) | 98,753 | |||||||||||||
Total liabilities and equity |
1,324,200 | 1,369,689 | (45,489 | ) | (3.3 | ) | 1,340,260 |
10
Balance sheet
million
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Assets |
||||||||||||||||||||
Cash on hand and deposits at central banks |
67,741 | 67,962 | 70,841 | 81,329 | 73,239 | |||||||||||||||
Trading portfolio |
168,709 | 151,201 | 149,903 | 147,287 | 152,621 | |||||||||||||||
Debt securities |
53,564 | 51,152 | 43,882 | 43,964 | 50,060 | |||||||||||||||
Customer loans |
5,726 | 5,789 | 8,235 | 6,081 | 6,866 | |||||||||||||||
Equities |
15,412 | 18,272 | 15,257 | 18,225 | 14,584 | |||||||||||||||
Trading derivatives |
89,305 | 72,557 | 80,425 | 76,724 | 76,643 | |||||||||||||||
Deposits from credit institutions |
4,702 | 3,431 | 2,104 | 2,293 | 4,468 | |||||||||||||||
Other financial assets at fair value |
48,892 | 37,245 | 52,110 | 45,043 | 48,771 | |||||||||||||||
Customer loans |
10,201 | 11,307 | 12,320 | 14,293 | 13,884 | |||||||||||||||
Other (deposits at credit institutions, debt securities and |
38,691 | 25,938 | 39,790 | 30,750 | 34,887 | |||||||||||||||
Available-for-sale financial assets |
124,536 | 129,035 | 117,835 | 122,036 | 118,298 | |||||||||||||||
Debt securities |
118,974 | 123,988 | 112,965 | 117,187 | 113,656 | |||||||||||||||
Equities |
5,562 | 5,047 | 4,870 | 4,849 | 4,642 | |||||||||||||||
Loans |
847,887 | 844,932 | 816,665 | 831,637 | 817,409 | |||||||||||||||
Deposits at credit institutions |
62,600 | 55,949 | 50,413 | 50,256 | 52,220 | |||||||||||||||
Customer loans |
778,038 | 782,137 | 756,465 | 770,474 | 752,702 | |||||||||||||||
Debt securities |
7,250 | 6,846 | 9,788 | 10,907 | 12,487 | |||||||||||||||
Held-to-maturity investments |
| | 4,405 | 4,355 | 4,566 | |||||||||||||||
Investments |
3,564 | 3,559 | 3,278 | 3,251 | 3,350 | |||||||||||||||
Intangible assets and property and equipment |
27,238 | 27,112 | 27,264 | 27,790 | 27,949 | |||||||||||||||
Goodwill |
28,667 | 28,594 | 26,777 | 26,960 | 26,209 | |||||||||||||||
Other |
52,455 | 49,736 | 51,349 | 50,572 | 51,788 | |||||||||||||||
Total assets |
1,369,689 | 1,339,376 | 1,320,427 | 1,340,260 | 1,324,200 | |||||||||||||||
Liabilities and shareholders equity |
||||||||||||||||||||
Trading portfolio |
125,507 | 107,888 | 112,461 | 105,218 | 108,567 | |||||||||||||||
Customer deposits |
6,794 | 7,635 | 9,693 | 9,187 | 9,570 | |||||||||||||||
Marketable debt securities |
| | | | 0 | |||||||||||||||
Trading derivatives |
92,439 | 73,750 | 80,572 | 76,414 | 78,608 | |||||||||||||||
Other |
26,273 | 26,503 | 22,195 | 19,617 | 20,389 | |||||||||||||||
Other financial liabilities at fair value |
64,078 | 55,364 | 58,601 | 54,768 | 63,404 | |||||||||||||||
Customer deposits |
40,190 | 31,756 | 27,094 | 26,357 | 28,484 | |||||||||||||||
Marketable debt securities |
3,958 | 4,024 | 3,352 | 3,373 | 3,445 | |||||||||||||||
Deposits at credit institutions |
19,929 | 19,584 | 28,155 | 25,038 | 31,475 | |||||||||||||||
Financial liabilities at amortized cost |
1,031,385 | 1,029,054 | 1,009,566 | 1,039,343 | 1,012,407 | |||||||||||||||
Due to central banks and credit institutions |
142,133 | 138,888 | 141,617 | 148,079 | 138,318 | |||||||||||||||
Customer deposits |
640,378 | 648,508 | 632,449 | 647,578 | 632,554 | |||||||||||||||
Marketable debt securities |
204,353 | 196,429 | 193,905 | 201,656 | 197,383 | |||||||||||||||
Subordinated debt |
19,746 | 19,836 | 19,606 | 21,153 | 20,784 | |||||||||||||||
Other financial liabilities |
24,775 | 25,393 | 21,990 | 20,877 | 23,368 | |||||||||||||||
Insurance liabilities |
670 | 648 | 644 | 627 | 656 | |||||||||||||||
Provisions |
15,452 | 15,470 | 13,775 | 14,494 | 14,292 | |||||||||||||||
Other liability accounts |
30,492 | 29,000 | 26,693 | 27,057 | 26,093 | |||||||||||||||
Total liabilities |
1,267,584 | 1,237,424 | 1,221,740 | 1,241,507 | 1,225,419 | |||||||||||||||
Shareholders equity |
99,987 | 101,904 | 103,307 | 102,402 | 103,264 | |||||||||||||||
Capital stock |
7,030 | 7,158 | 7,158 | 7,217 | 7,217 | |||||||||||||||
Reserves |
91,240 | 91,201 | 90,924 | 90,765 | 94,414 | |||||||||||||||
Attributable profit to the Group |
1,717 | 4,261 | 5,941 | 5,966 | 1,633 | |||||||||||||||
Less: dividends |
| (716 | ) | (716 | ) | (1,546 | ) | | ||||||||||||
Equity adjustments by valuation |
(8,072 | ) | (10,407 | ) | (14,987 | ) | (14,362 | ) | (15,949 | ) | ||||||||||
Minority interests |
10,190 | 10,455 | 10,367 | 10,713 | 11,466 | |||||||||||||||
Total equity |
102,105 | 101,952 | 98,687 | 98,753 | 98,781 | |||||||||||||||
Total liabilities and equity |
1,369,689 | 1,339,376 | 1,320,427 | 1,340,260 | 1,324,200 |
11
Customer loans
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
Spanish Public sector |
14,624 | 17,392 | (2,768 | ) | (15.9 | ) | 13,993 | |||||||||||||
Other residents |
151,697 | 155,846 | (4,149 | ) | (2.7 | ) | 153,863 | |||||||||||||
Commercial bills |
8,034 | 8,188 | (153 | ) | (1.9 | ) | 9,037 | |||||||||||||
Secured loans |
90,803 | 96,271 | (5,468 | ) | (5.7 | ) | 92,478 | |||||||||||||
Other loans |
52,859 | 51,387 | 1,472 | 2.9 | 52,348 | |||||||||||||||
Non-resident sector |
633,286 | 648,820 | (15,534 | ) | (2.4 | ) | 649,509 | |||||||||||||
Secured loans |
391,505 | 403,085 | (11,580 | ) | (2.9 | ) | 409,136 | |||||||||||||
Other loans |
241,781 | 245,736 | (3,954 | ) | (1.6 | ) | 240,373 | |||||||||||||
Gross customer loans |
799,607 | 822,059 | (22,452 | ) | (2.7 | ) | 817,366 | |||||||||||||
Loan-loss allowances |
26,155 | 28,094 | (1,939 | ) | (6.9 | ) | 26,517 | |||||||||||||
Net customer loans |
773,452 | 793,965 | (20,513 | ) | (2.6 | ) | 790,848 | |||||||||||||
Pro memoria: Doubtful loans |
35,281 | 40,711 | (5,430 | ) | (13.3 | ) | 36,133 | |||||||||||||
Public sector |
107 | 169 | (62 | ) | (36.5 | ) | 145 | |||||||||||||
Other residents |
15,608 | 19,327 | (3,720 | ) | (19.2 | ) | 16,301 | |||||||||||||
Non-resident sector |
19,566 | 21,215 | (1,649 | ) | (7.8 | ) | 19,686 |
12
Customer loans
million
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Spanish Public sector |
17,392 | 16,034 | 15,207 | 13,993 | 14,624 | |||||||||||||||
Other residents |
155,846 | 155,774 | 152,196 | 153,863 | 151,697 | |||||||||||||||
Commercial bills |
8,188 | 8,471 | 8,228 | 9,037 | 8,034 | |||||||||||||||
Secured loans |
96,271 | 93,731 | 93,404 | 92,478 | 90,803 | |||||||||||||||
Other loans |
51,387 | 53,571 | 50,564 | 52,348 | 52,859 | |||||||||||||||
Non-resident sector |
648,820 | 654,899 | 635,840 | 649,509 | 633,286 | |||||||||||||||
Secured loans |
403,085 | 410,797 | 398,110 | 409,136 | 391,505 | |||||||||||||||
Other loans |
245,736 | 244,102 | 237,730 | 240,373 | 241,781 | |||||||||||||||
Gross customer loans |
822,059 | 826,707 | 803,243 | 817,366 | 799,607 | |||||||||||||||
Loan-loss allowances |
28,094 | 27,474 | 26,224 | 26,517 | 26,155 | |||||||||||||||
Net customer loans |
793,965 | 799,233 | 777,020 | 790,848 | 773,452 | |||||||||||||||
Pro memoria: Doubtful loans |
40,711 | 39,154 | 36,864 | 36,133 | 35,281 | |||||||||||||||
Public sector |
169 | 173 | 190 | 145 | 107 | |||||||||||||||
Other residents |
19,327 | 18,167 | 17,130 | 16,301 | 15,608 | |||||||||||||||
Non-resident sector |
21,215 | 20,814 | 19,544 | 19,686 | 19,566 |
13
Credit risk management *
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
Non-performing loans |
36,148 | 41,919 | (5,770 | ) | (13.8 | ) | 37,094 | |||||||||||||
NPL ratio (%) |
4.33 | 4.85 | (0.52 p. | ) | 4.36 | |||||||||||||||
Loan-loss allowances |
26,756 | 28,894 | (2,138 | ) | (7.4 | ) | 27,121 | |||||||||||||
Specific |
17,817 | 20,427 | (2,611 | ) | (12.8 | ) | 17,707 | |||||||||||||
Generic |
8,940 | 8,467 | 473 | 5.6 | 9,414 | |||||||||||||||
Coverage ratio (%) |
74.0 | 68.9 | 5.1 p. | 73.1 | ||||||||||||||||
Cost of credit (%) ** |
1.22 | 1.38 | (0.16 p. | ) | 1.25 |
(*).- | Excluding country-risk |
(**).- | 12 months net loan-loss provisions / average lending |
Note: NPL ratio: Non-performing loans / computable assets
14
Credit risk management *
million
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Non-performing loans |
41,919 | 40,273 | 37,856 | 37,094 | 36,148 | |||||||||||||||
NPL ratio (%) |
4.85 | 4.64 | 4.50 | 4.36 | 4.33 | |||||||||||||||
Loan-loss allowances |
28,894 | 28,233 | 26,918 | 27,121 | 26,756 | |||||||||||||||
Specific |
20,427 | 19,444 | 18,416 | 17,707 | 17,817 | |||||||||||||||
Generic |
8,467 | 8,790 | 8,502 | 9,414 | 8,940 | |||||||||||||||
Coverage ratio (%) |
68.9 | 70.1 | 71.1 | 73.1 | 74.0 | |||||||||||||||
Cost of credit (%) ** |
1.38 | 1.32 | 1.26 | 1.25 | 1.22 |
(*).- | Excluding country-risk |
(**).- 12 months net loan-loss provisions / average lending
Note: NPL ratio: Non-performing loans / computable assets
15
Non-performing loans by quarter
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Balance at beginning of period |
41,709 | 41,919 | 40,273 | 37,856 | 37,094 | |||||||||||||||
Net additions |
2,017 | 1,315 | 2,132 | 2,242 | 1,668 | |||||||||||||||
Increase in scope of consolidation |
54 | 1 | | 50 | 13 | |||||||||||||||
Exchange differences |
853 | (36 | ) | (1,849 | ) | 968 | 72 | |||||||||||||
Write-offs |
(2,715 | ) | (2,925 | ) | (2,699 | ) | (4,022 | ) | (2,699 | ) | ||||||||||
Balance at period-end |
41,919 | 40,273 | 37,856 | 37,094 | 36,148 |
16
Managed and marketed customer funds
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
Resident public sector |
8,248 | 12,706 | (4,458 | ) | (35.1 | ) | 11,737 | |||||||||||||
Other residents |
156,886 | 163,702 | (6,816 | ) | (4.2 | ) | 157,611 | |||||||||||||
Demand deposits |
109,269 | 94,580 | 14,689 | 15.5 | 108,410 | |||||||||||||||
Time deposits |
45,908 | 65,118 | (19,210 | ) | (29.5 | ) | 47,297 | |||||||||||||
Other |
1,709 | 4,005 | (2,295 | ) | (57.3 | ) | 1,904 | |||||||||||||
Non-resident sector |
505,473 | 510,954 | (5,481 | ) | (1.1 | ) | 513,775 | |||||||||||||
Demand deposits |
305,319 | 299,008 | 6,311 | 2.1 | 313,175 | |||||||||||||||
Time deposits |
141,170 | 156,089 | (14,919 | ) | (9.6 | ) | 146,317 | |||||||||||||
Other |
58,983 | 55,856 | 3,127 | 5.6 | 54,283 | |||||||||||||||
Customer deposits |
670,607 | 687,362 | (16,755 | ) | (2.4 | ) | 683,122 | |||||||||||||
Debt securities |
200,828 | 208,312 | (7,484 | ) | (3.6 | ) | 205,029 | |||||||||||||
Subordinated debt |
20,784 | 19,746 | 1,038 | 5.3 | 21,153 | |||||||||||||||
On-balance-sheet customer funds |
892,219 | 915,419 | (23,200 | ) | (2.5 | ) | 909,304 | |||||||||||||
Mutual funds |
129,899 | 135,254 | (5,355 | ) | (4.0 | ) | 129,077 | |||||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | 11,376 | |||||||||||||
Managed portfolios |
24,748 | 28,541 | (3,793 | ) | (13.3 | ) | 25,808 | |||||||||||||
Other managed and marketed customer funds |
165,750 | 175,755 | (10,005 | ) | (5.7 | ) | 166,260 | |||||||||||||
Managed and marketed customer funds |
1,057,969 | 1,091,174 | (33,205 | ) | (3.0 | ) | 1,075,565 |
17
Managed and marketed customer funds
million
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Resident public sector |
12,706 | 8,526 | 8,886 | 11,737 | 8,248 | |||||||||||||||
Other residents |
163,702 | 164,045 | 164,067 | 157,611 | 156,886 | |||||||||||||||
Demand deposits |
94,580 | 102,770 | 105,730 | 108,410 | 109,269 | |||||||||||||||
Time deposits |
65,118 | 58,925 | 56,134 | 47,297 | 45,908 | |||||||||||||||
Other |
4,005 | 2,350 | 2,203 | 1,904 | 1,709 | |||||||||||||||
Non-resident sector |
510,954 | 515,328 | 496,283 | 513,775 | 505,473 | |||||||||||||||
Demand deposits |
299,008 | 309,849 | 302,251 | 313,175 | 305,319 | |||||||||||||||
Time deposits |
156,089 | 149,958 | 139,295 | 146,317 | 141,170 | |||||||||||||||
Other |
55,856 | 55,521 | 54,736 | 54,283 | 58,983 | |||||||||||||||
Customer deposits |
687,362 | 687,900 | 669,236 | 683,122 | 670,607 | |||||||||||||||
Debt securities |
208,312 | 200,453 | 197,257 | 205,029 | 200,828 | |||||||||||||||
Subordinated debt |
19,746 | 19,836 | 19,606 | 21,153 | 20,784 | |||||||||||||||
On-balance-sheet customer funds |
915,419 | 908,189 | 886,099 | 909,304 | 892,219 | |||||||||||||||
Mutual funds |
135,254 | 135,582 | 122,365 | 129,077 | 129,899 | |||||||||||||||
Pension funds |
11,960 | 11,503 | 11,220 | 11,376 | 11,103 | |||||||||||||||
Managed portfolios |
28,541 | 27,675 | 25,828 | 25,808 | 24,748 | |||||||||||||||
Other managed and marketed customer funds |
175,755 | 174,760 | 159,414 | 166,260 | 165,750 | |||||||||||||||
Managed and marketed customer funds |
1,091,174 | 1,082,948 | 1,045,513 | 1,075,565 | 1,057,969 |
18
Eligible capital (phase-in)
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
CET1 |
70,694 | 73,596 | (2,901 | ) | (3.9 | ) | 73,478 | |||||||||||||
Basic capital |
70,694 | 73,596 | (2,901 | ) | (3.9 | ) | 73,478 | |||||||||||||
Eligible capital |
81,093 | 81,971 | (879 | ) | (1.1 | ) | 84,346 | |||||||||||||
Risk-weighted assets |
571,959 | 617,951 | (45,992 | ) | (7.4 | ) | 585,609 | |||||||||||||
CET1 capital ratio |
12.36 | 11.91 | 0.45 | 12.55 | ||||||||||||||||
T1 capital ratio |
12.36 | 11.91 | 0.45 | 12.55 | ||||||||||||||||
BIS ratio |
14.18 | 13.27 | 0.91 | 14.40 |
19
Eligible capital (fully loaded)
million
Variation | ||||||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | 31.12.15 | ||||||||||||||||
Capital stock and reserves |
101,763 | 98,558 | 3,205 | 3.3 | 98,193 | |||||||||||||||
Attributable profit |
1,633 | 1,717 | (84 | ) | (4.9 | ) | 5,966 | |||||||||||||
Dividends |
(609 | ) | (576 | ) | (33 | ) | 5.6 | (2,268 | ) | |||||||||||
Other retained earnings |
(17,455 | ) | (8,418 | ) | (9,038 | ) | 107.4 | (15,448 | ) | |||||||||||
Minority interests |
6,190 | 4,829 | 1,361 | 28.2 | 6,148 | |||||||||||||||
Goodwill and intangible assets |
(27,590 | ) | (30,303 | ) | 2,713 | (9.0 | ) | (28,254 | ) | |||||||||||
Treasury stock and other deductions |
(5,184 | ) | (6,057 | ) | 872 | (14.4 | ) | (5,633 | ) | |||||||||||
Core CET1 |
58,748 | 59,750 | (1,003 | ) | (1.7 | ) | 58,705 | |||||||||||||
Preferred shares and other eligibles T1 |
5,494 | 4,902 | 591 | 12.1 | 5,504 | |||||||||||||||
Tier 1 |
64,241 | 64,652 | (411 | ) | (0.6 | ) | 64,209 | |||||||||||||
Generic funds and eligible T2 instruments |
11,410 | 9,646 | 1,764 | 18.3 | 11,996 | |||||||||||||||
Eligible capital |
75,651 | 74,299 | 1,353 | 1.8 | 76,205 | |||||||||||||||
Risk-weighted assets |
571,916 | 617,574 | (45,658 | ) | (7.4 | ) | 583,893 | |||||||||||||
CET1 capital ratio |
10.27 | 9.67 | 0.60 | 10.05 | ||||||||||||||||
T1 capital ratio |
11.23 | 10.47 | 0.76 | 11.00 | ||||||||||||||||
BIS ratio |
13.23 | 12.03 | 1.20 | 13.05 |
20
Key data by principal segments
Net operating income | Attributable profit to the Group | |||||||||||||||||||||||||||||||
1Q 16 | 1Q 15 | Var (%) | Var (%) w/o FX |
1Q 16 | 1Q 15 | Var (%) | Var (%) w/o FX |
|||||||||||||||||||||||||
Income statement ( million) |
||||||||||||||||||||||||||||||||
Continental Europe |
1,608 | 1,739 | (7.6 | ) | (6.7 | ) | 706 | 640 | 10.4 | 11.7 | ||||||||||||||||||||||
o/w: Spain |
706 | 894 | (21.0 | ) | (21.0 | ) | 307 | 340 | (9.6 | ) | (9.6 | ) | ||||||||||||||||||||
Santander Consumer Finance |
562 | 537 | 4.6 | 6.5 | 251 | 220 | 14.3 | 16.7 | ||||||||||||||||||||||||
Poland |
166 | 190 | (12.4 | ) | (8.8 | ) | 64 | 89 | (27.5 | ) | (24.5 | ) | ||||||||||||||||||||
Portugal |
183 | 115 | 59.6 | 59.6 | 121 | 55 | 121.4 | 121.4 | ||||||||||||||||||||||||
United Kingdom |
719 | 727 | (1.1 | ) | 2.6 | 453 | 471 | (3.9 | ) | (0.3 | ) | |||||||||||||||||||||
Latin America |
2,404 | 2,800 | (14.1 | ) | 10.6 | 703 | 840 | (16.3 | ) | 7.9 | ||||||||||||||||||||||
o/w: Brazil |
1,434 | 1,820 | (21.2 | ) | 5.3 | 359 | 477 | (24.8 | ) | 0.4 | ||||||||||||||||||||||
Mexico |
470 | 463 | 1.4 | 19.9 | 143 | 153 | (6.7 | ) | 10.3 | |||||||||||||||||||||||
Chile |
321 | 316 | 1.7 | 11.8 | 122 | 106 | 14.8 | 26.2 | ||||||||||||||||||||||||
USA |
1,191 | 1,172 | 1.6 | (0.5 | ) | 82 | 257 | (68.2 | ) | (68.8 | ) | |||||||||||||||||||||
Operating areas |
5,922 | 6,438 | (8.0 | ) | 2.2 | 1,944 | 2,209 | (12.0 | ) | (2.8 | ) | |||||||||||||||||||||
Corporate Centre |
(349 | ) | (372 | ) | (6.1 | ) | (6.1 | ) | (311 | ) | (491 | ) | (36.7 | ) | (36.7 | ) | ||||||||||||||||
Total Group |
5,572 | 6,067 | (8.1 | ) | 2.8 | 1,633 | 1,717 | (4.9 | ) | 8.2 | ||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Gross loans w/o repos | Customer deposits w/o repos + mutual funds |
|||||||||||||||||||||||||||||||
31.03.16 | 31.03.15 | Var (%) | Var (%) w/o FX |
31.03.16 | 31.03.15 | Var (%) | Var (%) w/o FX |
|||||||||||||||||||||||||
Activity ( million) |
||||||||||||||||||||||||||||||||
Continental Europe |
300,441 | 292,991 | 2.5 | 3.3 | 315,791 | 313,317 | 0.8 | 1.2 | ||||||||||||||||||||||||
o/w: Spain |
156,134 | 161,023 | (3.0 | ) | (3.0 | ) | 220,295 | 229,377 | (4.0 | ) | (4.0 | ) | ||||||||||||||||||||
Santander Consumer Finance |
79,136 | 72,059 | 9.8 | 11.3 | 33,197 | 30,991 | 7.1 | 8.2 | ||||||||||||||||||||||||
Poland |
20,467 | 19,132 | 7.0 | 11.5 | 24,487 | 24,227 | 1.1 | 5.3 | ||||||||||||||||||||||||
Portugal |
30,018 | 24,226 | 23.9 | 23.9 | 30,589 | 25,058 | 22.1 | 22.1 | ||||||||||||||||||||||||
United Kingdom |
261,770 | 275,654 | (5.0 | ) | 3.4 | 216,318 | 223,932 | (3.4 | ) | 5.1 | ||||||||||||||||||||||
Latin America |
136,490 | 152,520 | (10.5 | ) | 6.1 | 160,927 | 171,854 | (6.4 | ) | 11.8 | ||||||||||||||||||||||
o/w: Brazil |
63,875 | 76,336 | (16.3 | ) | (1.4 | ) | 80,383 | 85,802 | (6.3 | ) | 10.3 | |||||||||||||||||||||
Mexico |
28,760 | 29,827 | (3.6 | ) | 14.4 | 37,245 | 39,540 | (5.8 | ) | 11.8 | ||||||||||||||||||||||
Chile |
34,320 | 35,567 | (3.5 | ) | 8.9 | 29,702 | 32,109 | (7.5 | ) | 4.4 | ||||||||||||||||||||||
USA |
84,897 | 86,422 | (1.8 | ) | 4.0 | 65,983 | 68,360 | (3.5 | ) | 2.1 | ||||||||||||||||||||||
Operating areas |
783,599 | 807,587 | (3.0 | ) | 3.9 | 759,018 | 777,463 | (2.4 | ) | 4.5 | ||||||||||||||||||||||
Total Group |
787,033 | 813,260 | (3.2 | ) | 3.5 | 760,628 | 780,020 | (2.5 | ) | 4.4 |
21
Key data by principal segments
RoTE | Efficiency ratio | |||||||||||||||
1Q 16 | 1Q 15 | 1Q 16 | 1Q 15 | |||||||||||||
Profitability and efficiency (%) |
||||||||||||||||
Continental Europe |
8.64 | 8.75 | 51.8 | 49.0 | ||||||||||||
o/w: Spain |
9.47 | 12.07 | 54.2 | 48.9 | ||||||||||||
Santander Consumer Finance |
12.83 | 12.33 | 46.2 | 44.0 | ||||||||||||
Poland |
10.71 | 15.68 | 46.6 | 44.3 | ||||||||||||
Portugal |
17.21 | 8.96 | 45.7 | 51.8 | ||||||||||||
United Kingdom |
10.15 | 11.93 | 52.4 | 53.1 | ||||||||||||
Latin America |
14.31 | 15.28 | 41.9 | 42.2 | ||||||||||||
o/w: Brazil |
13.50 | 15.09 | 39.8 | 39.5 | ||||||||||||
Mexico |
12.95 | 12.99 | 40.7 | 43.4 | ||||||||||||
Chile |
16.43 | 13.95 | 42.3 | 42.9 | ||||||||||||
USA |
2.70 | 9.83 | 39.5 | 37.3 | ||||||||||||
Operating areas |
9.45 | 11.43 | 45.9 | 44.8 | ||||||||||||
Total Group |
11.13 | 11.54 | 48.1 | 47.0 |
NPL ratio | Coverage ratio | Cost of credit | ||||||||||||||||||||||
31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | |||||||||||||||||||
Credit quality (%) |
||||||||||||||||||||||||
Continental Europe |
7.08 | 8.52 | 65.4 | 58.6 | 0.60 | 0.95 | ||||||||||||||||||
o/w: Spain |
6.36 | 7.25 | 50.2 | 46.6 | 0.54 | 0.97 | ||||||||||||||||||
Santander Consumer Finance |
3.28 | 4.52 | 111.9 | 103.6 | 0.64 | 0.93 | ||||||||||||||||||
Poland |
5.93 | 7.33 | 67.0 | 61.6 | 0.82 | 1.00 | ||||||||||||||||||
Portugal |
8.55 | 8.96 | 87.7 | 52.4 | 0.28 | 0.45 | ||||||||||||||||||
United Kingdom |
1.49 | 1.75 | 36.5 | 41.2 | 0.01 | 0.11 | ||||||||||||||||||
Latin America |
4.88 | 4.64 | 79.7 | 83.6 | 3.39 | 3.53 | ||||||||||||||||||
o/w: Brazil |
5.93 | 4.90 | 83.7 | 95.2 | 4.63 | 4.63 | ||||||||||||||||||
Mexico |
3.06 | 3.71 | 97.5 | 88.4 | 2.95 | 2.92 | ||||||||||||||||||
Chile |
5.45 | 5.88 | 54.6 | 52.0 | 1.58 | 1.74 | ||||||||||||||||||
USA |
2.19 | 2.20 | 221.1 | 211.5 | 3.85 | 3.25 | ||||||||||||||||||
Operating areas |
4.36 | 4.87 | 73.3 | 68.3 | 1.24 | 1.38 | ||||||||||||||||||
Total Group |
4.33 | 4.85 | 74.0 | 68.9 | 1.22 | 1.38 |
Employees | Branches | |||||||||||||||
31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | |||||||||||||
Operating means |
||||||||||||||||
Continental Europe |
58,090 | 57,330 | 5,487 | 5,470 | ||||||||||||
o/w: Spain |
24,204 | 24,405 | 3,433 | 3,511 | ||||||||||||
Santander Consumer Finance |
14,675 | 14,227 | 584 | 575 | ||||||||||||
Poland |
11,387 | 11,938 | 700 | 784 | ||||||||||||
Portugal |
6,579 | 5,441 | 752 | 584 | ||||||||||||
United Kingdom |
26,084 | 26,290 | 854 | 921 | ||||||||||||
Latin America |
90,142 | 84,599 | 5,848 | 5,725 | ||||||||||||
o/w: Brazil |
49,604 | 46,583 | 3,439 | 3,391 | ||||||||||||
Mexico |
17,869 | 16,973 | 1,386 | 1,350 | ||||||||||||
Chile |
12,468 | 12,128 | 471 | 476 | ||||||||||||
USA |
18,229 | 16,918 | 773 | 804 | ||||||||||||
Operating areas |
192,545 | 185,137 | 12,962 | 12,920 | ||||||||||||
Corporate Centre |
1,974 | 2,125 | ||||||||||||||
Total Group |
194,519 | 187,262 | 12,962 | 12,920 |
22
Operating areas
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
7,792 | 8,259 | (466 | ) | (5.6 | ) | ||||||||||
Net fees |
2,402 | 2,526 | (124 | ) | (4.9 | ) | ||||||||||
Gains (losses) on financial transactions |
537 | 684 | (147 | ) | (21.5 | ) | ||||||||||
Other operating income * |
223 | 205 | 17 | 8.4 | ||||||||||||
Gross income |
10,953 | 11,674 | (720 | ) | (6.2 | ) | ||||||||||
Operating expenses |
(5,032 | ) | (5,235 | ) | 203 | (3.9 | ) | |||||||||
General administrative expenses |
(4,620 | ) | (4,809 | ) | 189 | (3.9 | ) | |||||||||
Personnel |
(2,480 | ) | (2,561 | ) | 80 | (3.1 | ) | |||||||||
Other general administrative expenses |
(2,139 | ) | (2,248 | ) | 109 | (4.9 | ) | |||||||||
Depreciation and amortisation |
(412 | ) | (426 | ) | 14 | (3.3 | ) | |||||||||
Net operating income |
5,922 | 6,438 | (517 | ) | (8.0 | ) | ||||||||||
Net loan-loss provisions |
(2,409 | ) | (2,562 | ) | 153 | (6.0 | ) | |||||||||
Other income |
(428 | ) | (417 | ) | (11 | ) | 2.6 | |||||||||
Profit before taxes |
3,085 | 3,460 | (375 | ) | (10.8 | ) | ||||||||||
Tax on profit |
(846 | ) | (927 | ) | 81 | (8.8 | ) | |||||||||
Profit from continuing operations |
2,239 | 2,533 | (294 | ) | (11.6 | ) | ||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
2,239 | 2,533 | (294 | ) | (11.6 | ) | ||||||||||
Minority interests |
295 | 324 | (29 | ) | (9.1 | ) | ||||||||||
Attributable profit to the Group |
1,944 | 2,209 | (264 | ) | (12.0 | ) |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
769,988 | 788,337 | (18,349 | ) | (2.3 | ) | ||||||||||
Trading portfolio (w/o loans) |
139,670 | 155,363 | (15,693 | ) | (10.1 | ) | ||||||||||
Available-for-sale financial assets |
114,643 | 121,160 | (6,517 | ) | (5.4 | ) | ||||||||||
Due from credit institutions ** |
130,174 | 129,653 | 521 | 0.4 | ||||||||||||
Intangible assets and property and equipment |
27,370 | 26,426 | 944 | 3.6 | ||||||||||||
Other assets |
134,908 | 115,523 | 19,385 | 16.8 | ||||||||||||
Total assets/liabilities & shareholders equity |
1,316,754 | 1,336,462 | (19,709 | ) | (1.5 | ) | ||||||||||
Customer deposits ** |
668,997 | 684,808 | (15,810 | ) | (2.3 | ) | ||||||||||
Marketable debt securities ** |
176,544 | 181,901 | (5,358 | ) | (2.9 | ) | ||||||||||
Subordinated debt ** |
12,588 | 13,890 | (1,302 | ) | (9.4 | ) | ||||||||||
Insurance liabilities |
656 | 670 | (14 | ) | (2.1 | ) | ||||||||||
Due to credit institutions ** |
214,625 | 201,645 | 12,980 | 6.4 | ||||||||||||
Other liabilities |
156,599 | 174,028 | (17,429 | ) | (10.0 | ) | ||||||||||
Stockholders equity *** |
86,745 | 79,520 | 7,225 | 9.1 | ||||||||||||
Other managed and marketed customer funds |
165,750 | 175,755 | (10,005 | ) | (5.7 | ) | ||||||||||
Mutual funds |
129,899 | 135,254 | (5,355 | ) | (4.0 | ) | ||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | ||||||||||
Managed portfolios |
24,748 | 28,541 | (3,793 | ) | (13.3 | ) | ||||||||||
Managed and marketed customer funds |
1,023,879 | 1,056,354 | (32,475 | ) | (3.1 | ) |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
Ratios (%) and other data |
||||||||||||||||
RoTE |
9.45 | 11.43 | (1.98 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
45.9 | 44.8 | 1.09 p. | |||||||||||||
NPL ratio |
4.36 | 4.87 | (0.51 p. | ) | ||||||||||||
Coverage ratio |
73.3 | 68.3 | 5.00 p. | |||||||||||||
Number of employees |
192,545 | 185,137 | 7,408 | 4.0 | ||||||||||||
Number of branches |
12,962 | 12,920 | 42 | 0.3 |
23
Operating areas
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
8,259 | 8,413 | 8,121 | 8,025 | 7,792 | |||||||||||||||
Net fees |
2,526 | 2,592 | 2,474 | 2,454 | 2,402 | |||||||||||||||
Gains (losses) on financial transactions |
684 | 440 | 544 | 568 | 537 | |||||||||||||||
Other operating income * |
205 | 351 | 233 | (120 | ) | 223 | ||||||||||||||
Gross income |
11,674 | 11,795 | 11,372 | 10,926 | 10,953 | |||||||||||||||
Operating expenses |
(5,235 | ) | (5,279 | ) | (5,200 | ) | (5,310 | ) | (5,032 | ) | ||||||||||
General administrative expenses |
(4,809 | ) | (4,825 | ) | (4,772 | ) | (4,869 | ) | (4,620 | ) | ||||||||||
Personnel |
(2,561 | ) | (2,638 | ) | (2,524 | ) | (2,591 | ) | (2,480 | ) | ||||||||||
Other general administrative expenses |
(2,248 | ) | (2,187 | ) | (2,247 | ) | (2,278 | ) | (2,139 | ) | ||||||||||
Depreciation and amortisation |
(426 | ) | (454 | ) | (428 | ) | (441 | ) | (412 | ) | ||||||||||
Net operating income |
6,438 | 6,517 | 6,172 | 5,616 | 5,922 | |||||||||||||||
Net loan-loss provisions |
(2,562 | ) | (2,510 | ) | (2,478 | ) | (2,585 | ) | (2,409 | ) | ||||||||||
Other income |
(417 | ) | (551 | ) | (568 | ) | (612 | ) | (428 | ) | ||||||||||
Profit before taxes |
3,460 | 3,456 | 3,126 | 2,420 | 3,085 | |||||||||||||||
Tax on profit |
(927 | ) | (907 | ) | (743 | ) | (601 | ) | (846 | ) | ||||||||||
Profit from continuing operations |
2,533 | 2,548 | 2,383 | 1,819 | 2,239 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
2,533 | 2,548 | 2,383 | 1,819 | 2,239 | |||||||||||||||
Minority interests |
324 | 351 | 309 | 240 | 295 | |||||||||||||||
Attributable profit to the Group |
2,209 | 2,198 | 2,075 | 1,579 | 1,944 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
788,337 | 793,222 | 773,108 | 787,254 | 769,988 | |||||||||||||||
Trading portfolio (w/o loans) |
155,363 | 139,904 | 139,151 | 136,258 | 139,670 | |||||||||||||||
Available-for-sale financial assets |
121,160 | 125,314 | 114,250 | 118,263 | 114,643 | |||||||||||||||
Due from credit institutions ** |
129,653 | 113,202 | 132,667 | 123,150 | 130,174 | |||||||||||||||
Intangible assets and property and equipment |
26,426 | 26,288 | 26,216 | 27,501 | 27,370 | |||||||||||||||
Other assets |
115,523 | 105,130 | 117,334 | 127,842 | 134,908 | |||||||||||||||
Total assets/liabilities & shareholders equity |
1,336,462 | 1,303,060 | 1,302,725 | 1,320,269 | 1,316,754 | |||||||||||||||
Customer deposits ** |
684,808 | 685,723 | 667,240 | 677,937 | 668,997 | |||||||||||||||
Marketable debt securities ** |
181,901 | 178,233 | 172,809 | 177,239 | 176,544 | |||||||||||||||
Subordinated debt ** |
13,890 | 12,975 | 11,252 | 11,558 | 12,588 | |||||||||||||||
Insurance liabilities |
670 | 648 | 644 | 627 | 656 | |||||||||||||||
Due to credit institutions ** |
201,645 | 191,210 | 217,592 | 224,860 | 214,625 | |||||||||||||||
Other liabilities |
174,028 | 153,987 | 153,095 | 147,359 | 156,599 | |||||||||||||||
Stockholders equity *** |
79,520 | 80,284 | 80,093 | 80,690 | 86,745 | |||||||||||||||
Other managed and marketed customer funds |
175,755 | 174,760 | 159,414 | 166,260 | 165,750 | |||||||||||||||
Mutual funds |
135,254 | 135,582 | 122,365 | 129,077 | 129,899 | |||||||||||||||
Pension funds |
11,960 | 11,503 | 11,220 | 11,376 | 11,103 | |||||||||||||||
Managed portfolios |
28,541 | 27,675 | 25,828 | 25,808 | 24,748 | |||||||||||||||
Managed and marketed customer funds |
1,056,354 | 1,051,690 | 1,010,715 | 1,032,994 | 1,023,879 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
4.87 | 4.68 | 4.52 | 4.39 | 4.36 | |||||||||||||||
Coverage ratio |
68.3 | 69.4 | 70.5 | 72.6 | 73.3 | |||||||||||||||
Cost of credit |
1.38 | 1.33 | 1.27 | 1.26 | 1.24 |
24
Operating areas
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
7,792 | 7,431 | 362 | 4.9 | ||||||||||||
Net fees |
2,402 | 2,248 | 154 | 6.9 | ||||||||||||
Gains (losses) on financial transactions |
537 | 649 | (113 | ) | (17.4 | ) | ||||||||||
Other operating income * |
223 | 208 | 15 | 7.1 | ||||||||||||
Gross income |
10,953 | 10,535 | 418 | 4.0 | ||||||||||||
Operating expenses |
(5,032 | ) | (4,741 | ) | (291 | ) | 6.1 | |||||||||
General administrative expenses |
(4,620 | ) | (4,359 | ) | (261 | ) | 6.0 | |||||||||
Personnel |
(2,480 | ) | (2,321 | ) | (160 | ) | 6.9 | |||||||||
Other general administrative expenses |
(2,139 | ) | (2,038 | ) | (101 | ) | 5.0 | |||||||||
Depreciation and amortisation |
(412 | ) | (383 | ) | (30 | ) | 7.7 | |||||||||
Net operating income |
5,922 | 5,794 | 127 | 2.2 | ||||||||||||
Net loan-loss provisions |
(2,409 | ) | (2,303 | ) | (107 | ) | 4.6 | |||||||||
Other income |
(428 | ) | (361 | ) | (66 | ) | 18.4 | |||||||||
Profit before taxes |
3,085 | 3,130 | (46 | ) | (1.5 | ) | ||||||||||
Tax on profit |
(846 | ) | (831 | ) | (15 | ) | 1.8 | |||||||||
Profit from continuing operations |
2,239 | 2,300 | (61 | ) | (2.6 | ) | ||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
2,239 | 2,300 | (61 | ) | (2.7 | ) | ||||||||||
Minority interests |
295 | 299 | (4 | ) | (1.5 | ) | ||||||||||
Attributable profit to the Group |
1,944 | 2,001 | (56 | ) | (2.8 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
769,988 | 736,196 | 33,792 | 4.6 | ||||||||||||
Trading portfolio (w/o loans) |
139,670 | 146,399 | (6,729 | ) | (4.6 | ) | ||||||||||
Available-for-sale financial assets |
114,643 | 113,878 | 765 | 0.7 | ||||||||||||
Due from credit institutions ** |
130,174 | 123,576 | 6,598 | 5.3 | ||||||||||||
Intangible assets and property and equipment |
27,370 | 24,922 | 2,448 | 9.8 | ||||||||||||
Other assets |
134,908 | 104,923 | 29,985 | 28.6 | ||||||||||||
Total assets/liabilities & shareholders equity |
1,316,754 | 1,249,894 | 66,859 | 5.3 | ||||||||||||
Customer deposits ** |
668,997 | 640,106 | 28,892 | 4.5 | ||||||||||||
Marketable debt securities ** |
176,544 | 169,216 | 7,327 | 4.3 | ||||||||||||
Subordinated debt ** |
12,588 | 12,369 | 219 | 1.8 | ||||||||||||
Insurance liabilities |
656 | 670 | (14 | ) | (2.1 | ) | ||||||||||
Due to credit institutions ** |
214,625 | 191,598 | 23,026 | 12.0 | ||||||||||||
Other liabilities |
156,599 | 162,271 | (5,672 | ) | (3.5 | ) | ||||||||||
Stockholders equity *** |
86,745 | 73,664 | 13,080 | 17.8 | ||||||||||||
Other managed and marketed customer funds |
165,750 | 162,662 | 3,088 | 1.9 | ||||||||||||
Mutual funds |
129,899 | 123,753 | 6,146 | 5.0 | ||||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | ||||||||||
Managed portfolios |
24,748 | 26,949 | (2,201 | ) | (8.2 | ) | ||||||||||
Managed and marketed customer funds |
1,023,879 | 984,352 | 39,527 | 4.0 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
25
Operating areas
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
7,431 | 7,597 | 7,699 | 7,744 | 7,792 | |||||||||||||||
Net fees |
2,248 | 2,324 | 2,321 | 2,347 | 2,402 | |||||||||||||||
Gains (losses) on financial transactions |
649 | 400 | 526 | 555 | 537 | |||||||||||||||
Other operating income * |
208 | 344 | 229 | (112 | ) | 223 | ||||||||||||||
Gross income |
10,535 | 10,666 | 10,776 | 10,534 | 10,953 | |||||||||||||||
Operating expenses |
(4,741 | ) | (4,797 | ) | (4,925 | ) | (5,104 | ) | (5,032 | ) | ||||||||||
General administrative expenses |
(4,359 | ) | (4,386 | ) | (4,518 | ) | (4,681 | ) | (4,620 | ) | ||||||||||
Personnel |
(2,321 | ) | (2,398 | ) | (2,389 | ) | (2,492 | ) | (2,480 | ) | ||||||||||
Other general administrative expenses |
(2,038 | ) | (1,988 | ) | (2,129 | ) | (2,189 | ) | (2,139 | ) | ||||||||||
Depreciation and amortisation |
(383 | ) | (411 | ) | (407 | ) | (423 | ) | (412 | ) | ||||||||||
Net operating income |
5,794 | 5,869 | 5,851 | 5,430 | 5,922 | |||||||||||||||
Net loan-loss provisions |
(2,303 | ) | (2,267 | ) | (2,360 | ) | (2,505 | ) | (2,409 | ) | ||||||||||
Other income |
(361 | ) | (489 | ) | (531 | ) | (609 | ) | (428 | ) | ||||||||||
Profit before taxes |
3,130 | 3,113 | 2,960 | 2,316 | 3,085 | |||||||||||||||
Tax on profit |
(831 | ) | (815 | ) | (714 | ) | (584 | ) | (846 | ) | ||||||||||
Profit from continuing operations |
2,300 | 2,298 | 2,246 | 1,732 | 2,239 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
2,300 | 2,298 | 2,246 | 1,732 | 2,239 | |||||||||||||||
Minority interests |
299 | 321 | 297 | 235 | 295 | |||||||||||||||
Attributable profit to the Group |
2,001 | 1,978 | 1,949 | 1,497 | 1,944 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
736,196 | 742,024 | 755,014 | 764,087 | 769,988 | |||||||||||||||
Trading portfolio (w/o loans) |
146,399 | 131,237 | 137,196 | 133,295 | 139,670 | |||||||||||||||
Available-for-sale financial assets |
113,878 | 118,244 | 113,908 | 116,895 | 114,643 | |||||||||||||||
Due from credit institutions ** |
123,576 | 107,800 | 132,346 | 121,845 | 130,174 | |||||||||||||||
Intangible assets and property and equipment |
24,922 | 25,114 | 25,843 | 26,847 | 27,370 | |||||||||||||||
Other assets |
104,923 | 96,023 | 117,079 | 126,123 | 134,908 | |||||||||||||||
Total assets/liabilities & shareholders equity |
1,249,894 | 1,220,442 | 1,281,386 | 1,289,091 | 1,316,754 | |||||||||||||||
Customer deposits ** |
640,106 | 641,745 | 652,169 | 658,844 | 668,997 | |||||||||||||||
Marketable debt securities ** |
169,216 | 165,391 | 169,573 | 172,164 | 176,544 | |||||||||||||||
Subordinated debt ** |
12,369 | 11,536 | 11,306 | 11,388 | 12,588 | |||||||||||||||
Insurance liabilities |
670 | 648 | 644 | 627 | 656 | |||||||||||||||
Due to credit institutions ** |
191,598 | 182,185 | 217,120 | 222,152 | 214,625 | |||||||||||||||
Other liabilities |
162,271 | 143,867 | 151,493 | 144,874 | 156,599 | |||||||||||||||
Stockholders equity *** |
73,664 | 75,070 | 79,081 | 79,044 | 86,745 | |||||||||||||||
Other managed and marketed customer funds |
162,662 | 163,029 | 161,471 | 166,341 | 165,750 | |||||||||||||||
Mutual funds |
123,753 | 124,767 | 124,373 | 129,592 | 129,899 | |||||||||||||||
Pension funds |
11,960 | 11,503 | 11,220 | 11,376 | 11,103 | |||||||||||||||
Managed portfolios |
26,949 | 26,759 | 25,878 | 25,374 | 24,748 | |||||||||||||||
Managed and marketed customer funds |
984,352 | 981,701 | 994,519 | 1,008,736 | 1,023,879 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
26
Continental Europe
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
2,046 | 2,057 | (10 | ) | (0.5 | ) | ||||||||||
Net fees |
878 | 842 | 35 | 4.2 | ||||||||||||
Gains (losses) on financial transactions |
307 | 404 | (98 | ) | (24.2 | ) | ||||||||||
Other operating income * |
103 | 106 | (3 | ) | (2.9 | ) | ||||||||||
Gross income |
3,333 | 3,409 | (76 | ) | (2.2 | ) | ||||||||||
Operating expenses |
(1,726 | ) | (1,670 | ) | (56 | ) | 3.4 | |||||||||
General administrative expenses |
(1,615 | ) | (1,560 | ) | (54 | ) | 3.5 | |||||||||
Personnel |
(825 | ) | (800 | ) | (26 | ) | 3.2 | |||||||||
Other general administrative expenses |
(789 | ) | (761 | ) | (28 | ) | 3.7 | |||||||||
Depreciation and amortisation |
(111 | ) | (109 | ) | (2 | ) | 1.7 | |||||||||
Net operating income |
1,608 | 1,739 | (132 | ) | (7.6 | ) | ||||||||||
Net loan-loss provisions |
(437 | ) | (637 | ) | 200 | (31.5 | ) | |||||||||
Other income |
(114 | ) | (139 | ) | 25 | (17.9 | ) | |||||||||
Profit before taxes |
1,057 | 963 | 94 | 9.7 | ||||||||||||
Tax on profit |
(281 | ) | (252 | ) | (30 | ) | 11.8 | |||||||||
Profit from continuing operations |
776 | 712 | 64 | 9.0 | ||||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
776 | 712 | 64 | 9.0 | ||||||||||||
Minority interests |
69 | 72 | (2 | ) | (3.4 | ) | ||||||||||
Attributable profit to the Group |
706 | 640 | 66 | 10.4 | ||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
289,694 | 279,925 | 9,769 | 3.5 | ||||||||||||
Trading portfolio (w/o loans) |
65,000 | 76,199 | (11,198 | ) | (14.7 | ) | ||||||||||
Available-for-sale financial assets |
57,583 | 60,661 | (3,079 | ) | (5.1 | ) | ||||||||||
Due from credit institutions ** |
84,247 | 79,357 | 4,891 | 6.2 | ||||||||||||
Intangible assets and property and equipment |
11,780 | 11,241 | 539 | 4.8 | ||||||||||||
Other assets |
35,203 | 27,850 | 7,354 | 26.4 | ||||||||||||
Total assets/liabilities & shareholders equity |
543,507 | 535,232 | 8,275 | 1.5 | ||||||||||||
Customer deposits ** |
266,841 | 268,190 | (1,349 | ) | (0.5 | ) | ||||||||||
Marketable debt securities ** |
50,614 | 49,534 | 1,079 | 2.2 | ||||||||||||
Subordinated debt ** |
172 | 441 | (269 | ) | (61.0 | ) | ||||||||||
Insurance liabilities |
655 | 669 | (14 | ) | (2.2 | ) | ||||||||||
Due to credit institutions ** |
125,497 | 113,197 | 12,299 | 10.9 | ||||||||||||
Other liabilities |
65,840 | 72,885 | (7,045 | ) | (9.7 | ) | ||||||||||
Stockholders equity *** |
33,889 | 30,315 | 3,573 | 11.8 | ||||||||||||
Other managed and marketed customer funds |
70,481 | 72,601 | (2,120 | ) | (2.9 | ) | ||||||||||
Mutual funds |
51,151 | 51,486 | (335 | ) | (0.7 | ) | ||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | ||||||||||
Managed portfolios |
8,227 | 9,155 | (928 | ) | (10.1 | ) | ||||||||||
Managed and marketed customer funds |
388,108 | 390,766 | (2,658 | ) | (0.7 | ) | ||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
8.64 | 8.75 | (0.11 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
51.8 | 49.0 | 2.79 p. | |||||||||||||
NPL ratio |
7.08 | 8.52 | (1.44 p. | ) | ||||||||||||
Coverage ratio |
65.4 | 58.6 | 6.80 p. | |||||||||||||
Number of employees |
58,090 | 57,330 | 760 | 1.3 | ||||||||||||
Number of branches |
5,487 | 5,470 | 17 | 0.3 |
27
Continental Europe
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
2,057 | 2,006 | 1,987 | 1,957 | 2,046 | |||||||||||||||
Net fees |
842 | 878 | 855 | 841 | 878 | |||||||||||||||
Gains (losses) on financial transactions |
404 | 90 | 321 | 371 | 307 | |||||||||||||||
Other operating income * |
106 | 243 | 90 | (219 | ) | 103 | ||||||||||||||
Gross income |
3,409 | 3,218 | 3,253 | 2,950 | 3,333 | |||||||||||||||
Operating expenses |
(1,670 | ) | (1,679 | ) | (1,689 | ) | (1,699 | ) | (1,726 | ) | ||||||||||
General administrative expenses |
(1,560 | ) | (1,557 | ) | (1,565 | ) | (1,591 | ) | (1,615 | ) | ||||||||||
Personnel |
(800 | ) | (821 | ) | (790 | ) | (813 | ) | (825 | ) | ||||||||||
Other general administrative expenses |
(761 | ) | (737 | ) | (775 | ) | (778 | ) | (789 | ) | ||||||||||
Depreciation and amortisation |
(109 | ) | (121 | ) | (124 | ) | (109 | ) | (111 | ) | ||||||||||
Net operating income |
1,739 | 1,539 | 1,564 | 1,251 | 1,608 | |||||||||||||||
Net loan-loss provisions |
(637 | ) | (512 | ) | (495 | ) | (331 | ) | (437 | ) | ||||||||||
Other income |
(139 | ) | (186 | ) | (137 | ) | (291 | ) | (114 | ) | ||||||||||
Profit before taxes |
963 | 842 | 932 | 629 | 1,057 | |||||||||||||||
Tax on profit |
(252 | ) | (216 | ) | (242 | ) | (177 | ) | (281 | ) | ||||||||||
Profit from continuing operations |
712 | 625 | 690 | 452 | 776 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
712 | 625 | 690 | 452 | 776 | |||||||||||||||
Minority interests |
72 | 65 | 65 | 59 | 69 | |||||||||||||||
Attributable profit to the Group |
640 | 560 | 625 | 393 | 706 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
279,925 | 280,580 | 278,723 | 287,253 | 289,694 | |||||||||||||||
Trading portfolio (w/o loans) |
76,199 | 62,294 | 60,318 | 60,151 | 65,000 | |||||||||||||||
Available-for-sale financial assets |
60,661 | 61,076 | 59,142 | 60,913 | 57,583 | |||||||||||||||
Due from credit institutions ** |
79,357 | 64,823 | 87,379 | 81,867 | 84,247 | |||||||||||||||
Intangible assets and property and equipment |
11,241 | 11,158 | 11,172 | 11,798 | 11,780 | |||||||||||||||
Other assets |
27,850 | 27,938 | 32,859 | 36,664 | 35,203 | |||||||||||||||
Total assets/liabilities & shareholders equity |
535,232 | 507,870 | 529,594 | 538,645 | 543,507 | |||||||||||||||
Customer deposits ** |
268,190 | 263,955 | 263,013 | 263,462 | 266,841 | |||||||||||||||
Marketable debt securities ** |
49,534 | 47,754 | 47,267 | 50,934 | 50,614 | |||||||||||||||
Subordinated debt ** |
441 | 171 | 175 | 170 | 172 | |||||||||||||||
Insurance liabilities |
669 | 647 | 643 | 626 | 655 | |||||||||||||||
Due to credit institutions ** |
113,197 | 101,540 | 125,066 | 132,688 | 125,497 | |||||||||||||||
Other liabilities |
72,885 | 62,801 | 61,140 | 58,251 | 65,840 | |||||||||||||||
Stockholders equity *** |
30,315 | 31,003 | 32,290 | 32,515 | 33,889 | |||||||||||||||
Other managed and marketed customer funds |
72,601 | 71,426 | 68,027 | 71,389 | 70,481 | |||||||||||||||
Mutual funds |
51,486 | 50,915 | 48,249 | 51,293 | 51,151 | |||||||||||||||
Pension funds |
11,960 | 11,503 | 11,220 | 11,376 | 11,103 | |||||||||||||||
Managed portfolios |
9,155 | 9,008 | 8,558 | 8,720 | 8,227 | |||||||||||||||
Managed and marketed customer funds |
390,766 | 383,305 | 378,481 | 385,954 | 388,108 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
8.52 | 8.15 | 7.89 | 7.27 | 7.08 | |||||||||||||||
Coverage ratio |
58.6 | 58.9 | 60.4 | 64.2 | 65.4 | |||||||||||||||
Cost of credit |
0.95 | 0.86 | 0.77 | 0.68 | 0.60 |
28
Continental Europe
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
2,046 | 2,035 | 12 | 0.6 | ||||||||||||
Net fees |
878 | 838 | 40 | 4.8 | ||||||||||||
Gains (losses) on financial transactions |
307 | 402 | (95 | ) | (23.7 | ) | ||||||||||
Other operating income * |
103 | 106 | (3 | ) | (3.1 | ) | ||||||||||
Gross income |
3,333 | 3,380 | (47 | ) | (1.4 | ) | ||||||||||
Operating expenses |
(1,726 | ) | (1,657 | ) | (68 | ) | 4.1 | |||||||||
General administrative expenses |
(1,615 | ) | (1,549 | ) | (66 | ) | 4.2 | |||||||||
Personnel |
(825 | ) | (793 | ) | (32 | ) | 4.0 | |||||||||
Other general administrative expenses |
(789 | ) | (756 | ) | (34 | ) | 4.4 | |||||||||
Depreciation and amortisation |
(111 | ) | (108 | ) | (3 | ) | 2.4 | |||||||||
Net operating income |
1,608 | 1,723 | (115 | ) | (6.7 | ) | ||||||||||
Net loan-loss provisions |
(437 | ) | (633 | ) | 196 | (31.0 | ) | |||||||||
Other income |
(114 | ) | (139 | ) | 25 | (17.8 | ) | |||||||||
Profit before taxes |
1,057 | 951 | 105 | 11.1 | ||||||||||||
Tax on profit |
(281 | ) | (249 | ) | (32 | ) | 13.0 | |||||||||
Profit from continuing operations |
776 | 702 | 73 | 10.4 | ||||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
776 | 702 | 73 | 10.4 | ||||||||||||
Minority interests |
69 | 70 | (1 | ) | (1.3 | ) | ||||||||||
Attributable profit to the Group |
706 | 632 | 74 | 11.7 | ||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
289,694 | 278,009 | 11,685 | 4.2 | ||||||||||||
Trading portfolio (w/o loans) |
65,000 | 76,142 | (11,142 | ) | (14.6 | ) | ||||||||||
Available-for-sale financial assets |
57,583 | 60,351 | (2,768 | ) | (4.6 | ) | ||||||||||
Due from credit institutions ** |
84,247 | 79,086 | 5,161 | 6.5 | ||||||||||||
Intangible assets and property and equipment |
11,780 | 11,184 | 595 | 5.3 | ||||||||||||
Other assets |
35,203 | 27,698 | 7,505 | 27.1 | ||||||||||||
Total assets/liabilities & shareholders equity |
543,507 | 532,470 | 11,037 | 2.1 | ||||||||||||
Customer deposits ** |
266,841 | 266,977 | (136 | ) | (0.1 | ) | ||||||||||
Marketable debt securities ** |
50,614 | 49,282 | 1,332 | 2.7 | ||||||||||||
Subordinated debt ** |
172 | 426 | (254 | ) | (59.6 | ) | ||||||||||
Insurance liabilities |
655 | 669 | (14 | ) | (2.2 | ) | ||||||||||
Due to credit institutions ** |
125,497 | 112,424 | 13,073 | 11.6 | ||||||||||||
Other liabilities |
65,840 | 72,694 | (6,853 | ) | (9.4 | ) | ||||||||||
Stockholders equity *** |
33,889 | 29,999 | 3,890 | 13.0 | ||||||||||||
Other managed and marketed customer funds |
70,481 | 72,339 | (1,858 | ) | (2.6 | ) | ||||||||||
Mutual funds |
51,151 | 51,328 | (177 | ) | (0.3 | ) | ||||||||||
Pension funds |
11,103 | 11,960 | (857 | ) | (7.2 | ) | ||||||||||
Managed portfolios |
8,227 | 9,051 | (824 | ) | (9.1 | ) | ||||||||||
Managed and marketed customer funds |
388,108 | 389,024 | (916 | ) | (0.2 | ) |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
29
Continental Europe
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
2,035 | 1,974 | 1,970 | 1,946 | 2,046 | |||||||||||||||
Net fees |
838 | 869 | 851 | 838 | 878 | |||||||||||||||
Gains (losses) on financial transactions |
402 | 89 | 320 | 371 | 307 | |||||||||||||||
Other operating income * |
106 | 243 | 90 | (217 | ) | 103 | ||||||||||||||
Gross income |
3,380 | 3,174 | 3,231 | 2,939 | 3,333 | |||||||||||||||
Operating expenses |
(1,657 | ) | (1,660 | ) | (1,679 | ) | (1,693 | ) | (1,726 | ) | ||||||||||
General administrative expenses |
(1,549 | ) | (1,540 | ) | (1,556 | ) | (1,585 | ) | (1,615 | ) | ||||||||||
Personnel |
(793 | ) | (811 | ) | (784 | ) | (810 | ) | (825 | ) | ||||||||||
Other general administrative expenses |
(756 | ) | (729 | ) | (772 | ) | (775 | ) | (789 | ) | ||||||||||
Depreciation and amortisation |
(108 | ) | (120 | ) | (123 | ) | (108 | ) | (111 | ) | ||||||||||
Net operating income |
1,723 | 1,514 | 1,552 | 1,246 | 1,608 | |||||||||||||||
Net loan-loss provisions |
(633 | ) | (506 | ) | (492 | ) | (330 | ) | (437 | ) | ||||||||||
Other income |
(139 | ) | (185 | ) | (138 | ) | (290 | ) | (114 | ) | ||||||||||
Profit before taxes |
951 | 823 | 922 | 626 | 1,057 | |||||||||||||||
Tax on profit |
(249 | ) | (213 | ) | (240 | ) | (176 | ) | (281 | ) | ||||||||||
Profit from continuing operations |
702 | 610 | 682 | 449 | 776 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
702 | 610 | 682 | 449 | 776 | |||||||||||||||
Minority interests |
70 | 63 | 63 | 59 | 69 | |||||||||||||||
Attributable profit to the Group |
632 | 547 | 619 | 390 | 706 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
278,009 | 279,481 | 278,700 | 287,277 | 289,694 | |||||||||||||||
Trading portfolio (w/o loans) |
76,142 | 62,274 | 60,315 | 60,150 | 65,000 | |||||||||||||||
Available-for-sale financial assets |
60,351 | 60,929 | 59,126 | 60,899 | 57,583 | |||||||||||||||
Due from credit institutions ** |
79,086 | 64,682 | 87,300 | 81,619 | 84,247 | |||||||||||||||
Intangible assets and property and equipment |
11,184 | 11,139 | 11,157 | 11,737 | 11,780 | |||||||||||||||
Other assets |
27,698 | 27,876 | 32,844 | 36,641 | 35,203 | |||||||||||||||
Total assets/liabilities & shareholders equity |
532,470 | 506,380 | 529,442 | 538,322 | 543,507 | |||||||||||||||
Customer deposits ** |
266,977 | 263,355 | 262,956 | 263,485 | 266,841 | |||||||||||||||
Marketable debt securities ** |
49,282 | 47,499 | 47,305 | 51,011 | 50,614 | |||||||||||||||
Subordinated debt ** |
426 | 169 | 175 | 170 | 172 | |||||||||||||||
Insurance liabilities |
669 | 647 | 643 | 626 | 655 | |||||||||||||||
Due to credit institutions ** |
112,424 | 101,154 | 124,965 | 132,308 | 125,497 | |||||||||||||||
Other liabilities |
72,694 | 62,717 | 61,130 | 58,256 | 65,840 | |||||||||||||||
Stockholders equity *** |
29,999 | 30,838 | 32,268 | 32,467 | 33,889 | |||||||||||||||
Other managed and marketed customer funds |
72,339 | 71,333 | 67,992 | 71,354 | 70,481 | |||||||||||||||
Mutual funds |
51,328 | 50,855 | 48,237 | 51,294 | 51,151 | |||||||||||||||
Pension funds |
11,960 | 11,503 | 11,220 | 11,376 | 11,103 | |||||||||||||||
Managed portfolios |
9,051 | 8,976 | 8,534 | 8,684 | 8,227 | |||||||||||||||
Managed and marketed customer funds |
389,024 | 382,357 | 378,427 | 386,020 | 388,108 |
(**).- | Including all on-balance sheet balances for this item |
(***).- Capital + reserves + profit + valuation adjustments
30
Spain
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
819 | 957 | (138 | ) | (14.4 | ) | ||||||||||
Net fees |
424 | 414 | 10 | 2.5 | ||||||||||||
Gains (losses) on financial transactions |
224 | 302 | (78 | ) | (25.7 | ) | ||||||||||
Other operating income * |
75 | 77 | (1 | ) | (1.7 | ) | ||||||||||
Gross income |
1,543 | 1,749 | (206 | ) | (11.8 | ) | ||||||||||
Operating expenses |
(837 | ) | (855 | ) | 19 | (2.2 | ) | |||||||||
General administrative expenses |
(801 | ) | (810 | ) | 10 | (1.2 | ) | |||||||||
Personnel |
(415 | ) | (419 | ) | 5 | (1.2 | ) | |||||||||
Other general administrative expenses |
(386 | ) | (391 | ) | 5 | (1.2 | ) | |||||||||
Depreciation and amortisation |
(36 | ) | (45 | ) | 9 | (20.2 | ) | |||||||||
Net operating income |
706 | 894 | (188 | ) | (21.0 | ) | ||||||||||
Net loan-loss provisions |
(231 | ) | (366 | ) | 135 | (37.0 | ) | |||||||||
Other income |
(37 | ) | (44 | ) | 7 | (15.7 | ) | |||||||||
Profit before taxes |
438 | 483 | (45 | ) | (9.3 | ) | ||||||||||
Tax on profit |
(126 | ) | (139 | ) | 12 | (8.9 | ) | |||||||||
Profit from continuing operations |
312 | 345 | (33 | ) | (9.5 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
312 | 345 | (33 | ) | (9.5 | ) | ||||||||||
Minority interests |
5 | 5 | 0 | 1.4 | ||||||||||||
Attributable profit to the Group |
307 | 340 | (33 | ) | (9.6 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
154,848 | 157,709 | (2,860 | ) | (1.8 | ) | ||||||||||
Trading portfolio (w/o loans) |
62,233 | 72,674 | (10,441 | ) | (14.4 | ) | ||||||||||
Available-for-sale financial assets |
40,743 | 46,297 | (5,554 | ) | (12.0 | ) | ||||||||||
Due from credit institutions ** |
61,506 | 60,193 | 1,313 | 2.2 | ||||||||||||
Intangible assets and property and equipment |
2,635 | 2,866 | (230 | ) | (8.0 | ) | ||||||||||
Other assets |
12,847 | 8,063 | 4,784 | 59.3 | ||||||||||||
Total assets/liabilities & shareholders equity |
334,813 | 347,801 | (12,988 | ) | (3.7 | ) | ||||||||||
Customer deposits ** |
176,049 | 189,734 | (13,685 | ) | (7.2 | ) | ||||||||||
Marketable debt securities ** |
23,103 | 27,647 | (4,544 | ) | (16.4 | ) | ||||||||||
Subordinated debt ** |
2 | 0 | 2 | | ||||||||||||
Insurance liabilities |
542 | 566 | (24 | ) | (4.3 | ) | ||||||||||
Due to credit institutions ** |
67,352 | 56,589 | 10,763 | 19.0 | ||||||||||||
Other liabilities |
54,500 | 62,091 | (7,591 | ) | (12.2 | ) | ||||||||||
Stockholders equity *** |
13,264 | 11,174 | 2,090 | 18.7 | ||||||||||||
Other managed and marketed customer funds |
63,236 | 63,173 | 63 | 0.1 | ||||||||||||
Mutual funds |
46,447 | 45,936 | 511 | 1.1 | ||||||||||||
Pension funds |
10,194 | 10,992 | (798 | ) | (7.3 | ) | ||||||||||
Managed portfolios |
6,594 | 6,244 | 350 | 5.6 | ||||||||||||
Managed and marketed customer funds |
262,390 | 280,554 | (18,163 | ) | (6.5 | ) | ||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
9.47 | 12.07 | (2.60 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
54.2 | 48.9 | 5.32 p. | |||||||||||||
NPL ratio |
6.36 | 7.25 | (0.89 p. | ) | ||||||||||||
Coverage ratio |
50.2 | 46.6 | 3.60 p. | |||||||||||||
Number of employees |
24,204 | 24,405 | (201 | ) | (0.8 | ) | ||||||||||
Number of branches |
3,433 | 3,511 | (78 | ) | (2.2 | ) |
31
Spain
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
957 | 856 | 837 | 780 | 819 | |||||||||||||||
Net fees |
414 | 440 | 415 | 419 | 424 | |||||||||||||||
Gains (losses) on financial transactions |
302 | 35 | 242 | 205 | 224 | |||||||||||||||
Other operating income * |
77 | 190 | 77 | (165 | ) | 75 | ||||||||||||||
Gross income |
1,749 | 1,522 | 1,571 | 1,238 | 1,543 | |||||||||||||||
Operating expenses |
(855 | ) | (856 | ) | (863 | ) | (860 | ) | (837 | ) | ||||||||||
General administrative expenses |
(810 | ) | (803 | ) | (806 | ) | (824 | ) | (801 | ) | ||||||||||
Personnel |
(419 | ) | (420 | ) | (415 | ) | (416 | ) | (415 | ) | ||||||||||
Other general administrative expenses |
(391 | ) | (383 | ) | (391 | ) | (408 | ) | (386 | ) | ||||||||||
Depreciation and amortisation |
(45 | ) | (53 | ) | (57 | ) | (36 | ) | (36 | ) | ||||||||||
Net operating income |
894 | 666 | 708 | 379 | 706 | |||||||||||||||
Net loan-loss provisions |
(366 | ) | (264 | ) | (205 | ) | (156 | ) | (231 | ) | ||||||||||
Other income |
(44 | ) | (71 | ) | (58 | ) | (89 | ) | (37 | ) | ||||||||||
Profit before taxes |
483 | 331 | 444 | 134 | 438 | |||||||||||||||
Tax on profit |
(139 | ) | (93 | ) | (127 | ) | (34 | ) | (126 | ) | ||||||||||
Profit from continuing operations |
345 | 238 | 317 | 99 | 312 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
345 | 238 | 317 | 99 | 312 | |||||||||||||||
Minority interests |
5 | 6 | 6 | 5 | 5 | |||||||||||||||
Attributable profit to the Group |
340 | 232 | 311 | 94 | 307 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
157,709 | 158,383 | 156,121 | 155,204 | 154,848 | |||||||||||||||
Trading portfolio (w/o loans) |
72,674 | 58,976 | 57,331 | 57,401 | 62,233 | |||||||||||||||
Available-for-sale financial assets |
46,297 | 46,643 | 44,340 | 44,057 | 40,743 | |||||||||||||||
Due from credit institutions ** |
60,193 | 45,297 | 65,526 | 56,680 | 61,506 | |||||||||||||||
Intangible assets and property and equipment |
2,866 | 2,904 | 2,886 | 2,874 | 2,635 | |||||||||||||||
Other assets |
8,063 | 8,348 | 12,808 | 10,822 | 12,847 | |||||||||||||||
Total assets/liabilities & shareholders equity |
347,801 | 320,551 | 339,011 | 327,039 | 334,813 | |||||||||||||||
Customer deposits ** |
189,734 | 184,294 | 181,636 | 174,828 | 176,049 | |||||||||||||||
Marketable debt securities ** |
27,647 | 26,752 | 23,916 | 22,265 | 23,103 | |||||||||||||||
Subordinated debt ** |
0 | 1 | 2 | (0 | ) | 2 | ||||||||||||||
Insurance liabilities |
566 | 551 | 533 | 536 | 542 | |||||||||||||||
Due to credit institutions ** |
56,589 | 45,009 | 70,171 | 68,995 | 67,352 | |||||||||||||||
Other liabilities |
62,091 | 52,112 | 50,117 | 47,502 | 54,500 | |||||||||||||||
Stockholders equity *** |
11,174 | 11,832 | 12,637 | 12,913 | 13,264 | |||||||||||||||
Other managed and marketed customer funds |
63,173 | 62,224 | 59,543 | 63,931 | 63,236 | |||||||||||||||
Mutual funds |
45,936 | 45,471 | 43,145 | 46,563 | 46,447 | |||||||||||||||
Pension funds |
10,992 | 10,587 | 10,308 | 10,455 | 10,194 | |||||||||||||||
Managed portfolios |
6,244 | 6,167 | 6,090 | 6,914 | 6,594 | |||||||||||||||
Managed and marketed customer funds |
280,554 | 273,271 | 265,097 | 261,024 | 262,390 |
(**).- | Including all on-balance sheet balances for this item |
(***).- Capital + reserves + profit + valuation adjustments
Other information |
||||||||||||||||||||
NPL ratio |
7.25 | 6.91 | 6.61 | 6.53 | 6.36 | |||||||||||||||
Coverage ratio |
46.6 | 46.8 | 47.8 | 48.1 | 50.2 | |||||||||||||||
Cost of credit |
0.97 | 0.84 | 0.71 | 0.62 | 0.54 |
32
Santander Consumer Finance
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
811 | 729 | 82 | 11.2 | ||||||||||||
Net fees |
230 | 220 | 10 | 4.7 | ||||||||||||
Gains (losses) on financial transactions |
(1 | ) | 0 | (1 | ) | | ||||||||||
Other operating income * |
6 | 10 | (4 | ) | (42.2 | ) | ||||||||||
Gross income |
1,045 | 959 | 86 | 9.0 | ||||||||||||
Operating expenses |
(483 | ) | (422 | ) | (62 | ) | 14.6 | |||||||||
General administrative expenses |
(435 | ) | (384 | ) | (51 | ) | 13.3 | |||||||||
Personnel |
(201 | ) | (179 | ) | (22 | ) | 12.3 | |||||||||
Other general administrative expenses |
(234 | ) | (205 | ) | (29 | ) | 14.2 | |||||||||
Depreciation and amortisation |
(48 | ) | (38 | ) | (11 | ) | 28.0 | |||||||||
Net operating income |
562 | 537 | 25 | 4.6 | ||||||||||||
Net loan-loss provisions |
(114 | ) | (168 | ) | 53 | (31.9 | ) | |||||||||
Other income |
(39 | ) | (22 | ) | (16 | ) | 73.2 | |||||||||
Profit before taxes |
410 | 348 | 62 | 17.8 | ||||||||||||
Tax on profit |
(117 | ) | (96 | ) | (21 | ) | 21.3 | |||||||||
Profit from continuing operations |
293 | 251 | 41 | 16.5 | ||||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
293 | 251 | 41 | 16.5 | ||||||||||||
Minority interests |
42 | 31 | 10 | 32.2 | ||||||||||||
Attributable profit to the Group |
251 | 220 | 31 | 14.3 | ||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
76,235 | 68,690 | 7,546 | 11.0 | ||||||||||||
Trading portfolio (w/o loans) |
34 | 31 | 4 | 11.8 | ||||||||||||
Available-for-sale financial assets |
3,624 | 1,122 | 2,502 | 223.0 | ||||||||||||
Due from credit institutions ** |
4,034 | 5,551 | (1,517 | ) | (27.3 | ) | ||||||||||
Intangible assets and property and equipment |
672 | 779 | (107 | ) | (13.7 | ) | ||||||||||
Other assets |
4,647 | 4,220 | 427 | 10.1 | ||||||||||||
Total assets/liabilities & shareholders equity |
89,247 | 80,392 | 8,854 | 11.0 | ||||||||||||
Customer deposits ** |
33,195 | 30,989 | 2,206 | 7.1 | ||||||||||||
Marketable debt securities ** |
22,363 | 18,915 | 3,449 | 18.2 | ||||||||||||
Subordinated debt ** |
70 | 69 | 1 | 1.5 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
20,707 | 18,285 | 2,422 | 13.2 | ||||||||||||
Other liabilities |
4,640 | 4,273 | 367 | 8.6 | ||||||||||||
Stockholders equity *** |
8,271 | 7,861 | 410 | 5.2 | ||||||||||||
Other managed and marketed customer funds |
7 | 7 | (0 | ) | (2.9 | ) | ||||||||||
Mutual funds |
2 | 2 | (0 | ) | (10.0 | ) | ||||||||||
Pension funds |
5 | 5 | (0 | ) | (0.5 | ) | ||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
55,635 | 49,980 | 5,655 | 11.3 | ||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
12.83 | 12.33 | 0.50 p. | |||||||||||||
Efficiency ratio (with amortisations) |
46.2 | 44.0 | 2.26 p. | |||||||||||||
NPL ratio |
3.28 | 4.52 | (1.24 p. | ) | ||||||||||||
Coverage ratio |
111.9 | 103.6 | 8.30 p. | |||||||||||||
Number of employees |
14,675 | 14,227 | 448 | 3.1 | ||||||||||||
Number of branches |
584 | 575 | 9 | 1.6 |
33
Santander Consumer Finance
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
729 | 775 | 788 | 805 | 811 | |||||||||||||||
Net fees |
220 | 216 | 223 | 218 | 230 | |||||||||||||||
Gains (losses) on financial transactions |
0 | (8 | ) | 3 | (6 | ) | (1 | ) | ||||||||||||
Other operating income * |
10 | 9 | 4 | (19 | ) | 6 | ||||||||||||||
Gross income |
959 | 991 | 1,018 | 998 | 1,045 | |||||||||||||||
Operating expenses |
(422 | ) | (442 | ) | (443 | ) | (467 | ) | (483 | ) | ||||||||||
General administrative expenses |
(384 | ) | (398 | ) | (398 | ) | (422 | ) | (435 | ) | ||||||||||
Personnel |
(179 | ) | (200 | ) | (174 | ) | (193 | ) | (201 | ) | ||||||||||
Other general administrative expenses |
(205 | ) | (198 | ) | (224 | ) | (229 | ) | (234 | ) | ||||||||||
Depreciation and amortisation |
(38 | ) | (44 | ) | (45 | ) | (46 | ) | (48 | ) | ||||||||||
Net operating income |
537 | 549 | 575 | 530 | 562 | |||||||||||||||
Net loan-loss provisions |
(168 | ) | (131 | ) | (142 | ) | (97 | ) | (114 | ) | ||||||||||
Other income |
(22 | ) | (36 | ) | (44 | ) | (50 | ) | (39 | ) | ||||||||||
Profit before taxes |
348 | 382 | 389 | 383 | 410 | |||||||||||||||
Tax on profit |
(96 | ) | (110 | ) | (108 | ) | (112 | ) | (117 | ) | ||||||||||
Profit from continuing operations |
251 | 272 | 281 | 271 | 293 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
251 | 272 | 281 | 271 | 293 | |||||||||||||||
Minority interests |
31 | 31 | 40 | 35 | 42 | |||||||||||||||
Attributable profit to the Group |
220 | 241 | 242 | 236 | 251 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
||||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
68,690 | 69,546 | 70,067 | 73,709 | 76,235 | |||||||||||||||
Trading portfolio (w/o loans) |
31 | 59 | 90 | 94 | 34 | |||||||||||||||
Available-for-sale financial assets |
1,122 | 1,841 | 2,876 | 3,654 | 3,624 | |||||||||||||||
Due from credit institutions ** |
5,551 | 6,136 | 3,410 | 4,252 | 4,034 | |||||||||||||||
Intangible assets and property and equipment |
779 | 767 | 749 | 692 | 672 | |||||||||||||||
Other assets |
4,220 | 4,001 | 4,581 | 6,133 | 4,647 | |||||||||||||||
Total assets/liabilities & shareholders equity |
80,392 | 82,350 | 81,774 | 88,534 | 89,247 | |||||||||||||||
Customer deposits ** |
30,989 | 31,810 | 31,789 | 32,595 | 33,195 | |||||||||||||||
Marketable debt securities ** |
18,915 | 18,043 | 20,384 | 23,277 | 22,363 | |||||||||||||||
Subordinated debt ** |
69 | 70 | 73 | 70 | 70 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
18,285 | 20,573 | 16,264 | 20,314 | 20,707 | |||||||||||||||
Other liabilities |
4,273 | 4,051 | 4,934 | 4,325 | 4,640 | |||||||||||||||
Stockholders equity *** |
7,861 | 7,803 | 8,329 | 7,953 | 8,271 | |||||||||||||||
Other managed and marketed customer funds |
7 | 7 | 7 | 7 | 7 | |||||||||||||||
Mutual funds |
2 | 2 | 2 | 2 | 2 | |||||||||||||||
Pension funds |
5 | 5 | 5 | 5 | 5 | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
49,980 | 49,930 | 52,253 | 55,950 | 55,635 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
4.52 | 4.25 | 4.15 | 3.42 | 3.28 | |||||||||||||||
Coverage ratio |
103.6 | 104.9 | 107.2 | 109.1 | 111.9 | |||||||||||||||
Cost of credit |
0.93 | 0.91 | 0.87 | 0.77 | 0.64 |
34
Santander Consumer Finance
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
811 | 714 | 97 | 13.5 | ||||||||||||
Net fees |
230 | 219 | 11 | 5.2 | ||||||||||||
Gains (losses) on financial transactions |
(1 | ) | (0 | ) | (1 | ) | | |||||||||
Other operating income * |
6 | 10 | (4 | ) | (42.4 | ) | ||||||||||
Gross income |
1,045 | 943 | 103 | 10.9 | ||||||||||||
Operating expenses |
(483 | ) | (415 | ) | (68 | ) | 16.5 | |||||||||
General administrative expenses |
(435 | ) | (378 | ) | (57 | ) | 15.2 | |||||||||
Personnel |
(201 | ) | (176 | ) | (25 | ) | 14.4 | |||||||||
Other general administrative expenses |
(234 | ) | (202 | ) | (32 | ) | 15.9 | |||||||||
Depreciation and amortisation |
(48 | ) | (37 | ) | (11 | ) | 29.0 | |||||||||
Net operating income |
562 | 528 | 34 | 6.5 | ||||||||||||
Net loan-loss provisions |
(114 | ) | (165 | ) | 50 | (30.7 | ) | |||||||||
Other income |
(39 | ) | (22 | ) | (16 | ) | 74.4 | |||||||||
Profit before taxes |
410 | 341 | 68 | 20.0 | ||||||||||||
Tax on profit |
(117 | ) | (95 | ) | (22 | ) | 23.4 | |||||||||
Profit from continuing operations |
293 | 246 | 46 | 18.8 | ||||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
293 | 246 | 46 | 18.8 | ||||||||||||
Minority interests |
42 | 31 | 10 | 33.0 | ||||||||||||
Attributable profit to the Group |
251 | 215 | 36 | 16.7 | ||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
76,235 | 67,799 | 8,436 | 12.4 | ||||||||||||
Trading portfolio (w/o loans) |
34 | 29 | 6 | 19.6 | ||||||||||||
Available-for-sale financial assets |
3,624 | 1,074 | 2,549 | 237.3 | ||||||||||||
Due from credit institutions ** |
4,034 | 5,465 | (1,430 | ) | (26.2 | ) | ||||||||||
Intangible assets and property and equipment |
672 | 775 | (103 | ) | (13.3 | ) | ||||||||||
Other assets |
4,647 | 4,191 | 456 | 10.9 | ||||||||||||
Total assets/liabilities & shareholders equity |
89,247 | 79,333 | 9,914 | 12.5 | ||||||||||||
Customer deposits ** |
33,195 | 30,684 | 2,511 | 8.2 | ||||||||||||
Marketable debt securities ** |
22,363 | 18,672 | 3,691 | 19.8 | ||||||||||||
Subordinated debt ** |
70 | 69 | 1 | 1.5 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
20,707 | 17,919 | 2,788 | 15.6 | ||||||||||||
Other liabilities |
4,640 | 4,242 | 398 | 9.4 | ||||||||||||
Stockholders equity *** |
8,271 | 7,747 | 524 | 6.8 | ||||||||||||
Other managed and marketed customer funds |
7 | 7 | (0 | ) | (2.9 | ) | ||||||||||
Mutual funds |
2 | 2 | (0 | ) | (10.0 | ) | ||||||||||
Pension funds |
5 | 5 | (0 | ) | (0.5 | ) | ||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
55,635 | 49,432 | 6,203 | 12.5 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
35
Santander Consumer Finance
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
714 | 754 | 779 | 799 | 811 | |||||||||||||||
Net fees |
219 | 214 | 222 | 217 | 230 | |||||||||||||||
Gains (losses) on financial transactions |
(0 | ) | (8 | ) | 3 | (5 | ) | (1 | ) | |||||||||||
Other operating income * |
10 | 9 | 4 | (18 | ) | 6 | ||||||||||||||
Gross income |
943 | 969 | 1,008 | 993 | 1,045 | |||||||||||||||
Operating expenses |
(415 | ) | (433 | ) | (438 | ) | (465 | ) | (483 | ) | ||||||||||
General administrative expenses |
(378 | ) | (389 | ) | (394 | ) | (419 | ) | (435 | ) | ||||||||||
Personnel |
(176 | ) | (196 | ) | (172 | ) | (192 | ) | (201 | ) | ||||||||||
Other general administrative expenses |
(202 | ) | (193 | ) | (222 | ) | (227 | ) | (234 | ) | ||||||||||
Depreciation and amortisation |
(37 | ) | (44 | ) | (44 | ) | (45 | ) | (48 | ) | ||||||||||
Net operating income |
528 | 536 | 569 | 528 | 562 | |||||||||||||||
Net loan-loss provisions |
(165 | ) | (128 | ) | (140 | ) | (96 | ) | (114 | ) | ||||||||||
Other income |
(22 | ) | (36 | ) | (44 | ) | (50 | ) | (39 | ) | ||||||||||
Profit before taxes |
341 | 372 | 385 | 382 | 410 | |||||||||||||||
Tax on profit |
(95 | ) | (108 | ) | (107 | ) | (112 | ) | (117 | ) | ||||||||||
Profit from continuing operations |
246 | 264 | 278 | 270 | 293 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
246 | 264 | 278 | 270 | 293 | |||||||||||||||
Minority interests |
31 | 31 | 40 | 35 | 42 | |||||||||||||||
Attributable profit to the Group |
215 | 234 | 238 | 235 | 251 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
67,799 | 68,813 | 70,178 | 73,920 | 76,235 | |||||||||||||||
Trading portfolio (w/o loans) |
29 | 57 | 90 | 96 | 34 | |||||||||||||||
Available-for-sale financial assets |
1,074 | 1,801 | 2,884 | 3,674 | 3,624 | |||||||||||||||
Due from credit institutions ** |
5,465 | 6,061 | 3,423 | 4,273 | 4,034 | |||||||||||||||
Intangible assets and property and equipment |
775 | 764 | 749 | 693 | 672 | |||||||||||||||
Other assets |
4,191 | 3,980 | 4,584 | 6,138 | 4,647 | |||||||||||||||
Total assets/liabilities & shareholders equity |
79,333 | 81,476 | 81,907 | 88,793 | 89,247 | |||||||||||||||
Customer deposits ** |
30,684 | 31,555 | 31,828 | 32,676 | 33,195 | |||||||||||||||
Marketable debt securities ** |
18,672 | 17,794 | 20,423 | 23,353 | 22,363 | |||||||||||||||
Subordinated debt ** |
69 | 70 | 73 | 70 | 70 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
17,919 | 20,323 | 16,300 | 20,379 | 20,707 | |||||||||||||||
Other liabilities |
4,242 | 4,027 | 4,938 | 4,333 | 4,640 | |||||||||||||||
Stockholders equity *** |
7,747 | 7,708 | 8,344 | 7,983 | 8,271 | |||||||||||||||
Other managed and marketed customer funds |
7 | 7 | 7 | 7 | 7 | |||||||||||||||
Mutual funds |
2 | 2 | 2 | 2 | 2 | |||||||||||||||
Pension funds |
5 | 5 | 5 | 5 | 5 | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
49,432 | 49,425 | 52,332 | 56,106 | 55,635 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
36
Poland
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
197 | 191 | 6 | 3.0 | ||||||||||||
Net fees |
96 | 100 | (4 | ) | (4.4 | ) | ||||||||||
Gains (losses) on financial transactions |
25 | 54 | (29 | ) | (53.8 | ) | ||||||||||
Other operating income * |
(6 | ) | (4 | ) | (2 | ) | 39.9 | |||||||||
Gross income |
311 | 340 | (29 | ) | (8.6 | ) | ||||||||||
Operating expenses |
(145 | ) | (151 | ) | 6 | (3.9 | ) | |||||||||
General administrative expenses |
(131 | ) | (139 | ) | 8 | (5.8 | ) | |||||||||
Personnel |
(74 | ) | (81 | ) | 7 | (8.9 | ) | |||||||||
Other general administrative expenses |
(57 | ) | (58 | ) | 1 | (1.4 | ) | |||||||||
Depreciation and amortisation |
(14 | ) | (12 | ) | (2 | ) | 18.9 | |||||||||
Net operating income |
166 | 190 | (24 | ) | (12.4 | ) | ||||||||||
Net loan-loss provisions |
(33 | ) | (39 | ) | 6 | (15.5 | ) | |||||||||
Other income |
(22 | ) | (1 | ) | (21 | ) | | |||||||||
Profit before taxes |
111 | 150 | (39 | ) | (26.0 | ) | ||||||||||
Tax on profit |
(23 | ) | (27 | ) | 5 | (16.9 | ) | |||||||||
Profit from continuing operations |
88 | 122 | (34 | ) | (28.0 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
88 | 122 | (34 | ) | (28.0 | ) | ||||||||||
Minority interests |
24 | 33 | (10 | ) | (29.4 | ) | ||||||||||
Attributable profit to the Group |
64 | 89 | (24 | ) | (27.5 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
19,616 | 18,303 | 1,313 | 7.2 | ||||||||||||
Trading portfolio (w/o loans) |
858 | 1,258 | (400 | ) | (31.8 | ) | ||||||||||
Available-for-sale financial assets |
5,515 | 5,355 | 160 | 3.0 | ||||||||||||
Due from credit institutions ** |
789 | 1,223 | (434 | ) | (35.5 | ) | ||||||||||
Intangible assets and property and equipment |
252 | 241 | 11 | 4.7 | ||||||||||||
Other assets |
1,519 | 2,168 | (649 | ) | (29.9 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
28,549 | 28,548 | 1 | 0.0 | ||||||||||||
Customer deposits ** |
21,329 | 20,481 | 848 | 4.1 | ||||||||||||
Marketable debt securities ** |
447 | 240 | 206 | 85.8 | ||||||||||||
Subordinated debt ** |
100 | 372 | (272 | ) | (73.0 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
670 | 1,268 | (599 | ) | (47.2 | ) | ||||||||||
Other liabilities |
3,426 | 3,786 | (360 | ) | (9.5 | ) | ||||||||||
Stockholders equity *** |
2,577 | 2,402 | 176 | 7.3 | ||||||||||||
Other managed and marketed customer funds |
3,249 | 3,960 | (711 | ) | (18.0 | ) | ||||||||||
Mutual funds |
3,158 | 3,813 | (655 | ) | (17.2 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
91 | 147 | (56 | ) | (38.0 | ) | ||||||||||
Managed and marketed customer funds |
25,125 | 25,053 | 72 | 0.3 | ||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
10.71 | 15.68 | (4.97 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
46.6 | 44.3 | 2.29 p. | |||||||||||||
NPL ratio |
5.93 | 7.33 | (1.40 p. | ) | ||||||||||||
Coverage ratio |
67.0 | 61.6 | 5.40 p. | |||||||||||||
Number of employees |
11,387 | 11,938 | (551 | ) | (4.6 | ) | ||||||||||
Number of branches |
700 | 784 | (84 | ) | (10.7 | ) |
37
Poland
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
191 | 192 | 196 | 203 | 197 | |||||||||||||||
Net fees |
100 | 110 | 103 | 109 | 96 | |||||||||||||||
Gains (losses) on financial transactions |
54 | 19 | 18 | 22 | 25 | |||||||||||||||
Other operating income * |
(4 | ) | 16 | (9 | ) | (42 | ) | (6 | ) | |||||||||||
Gross income |
340 | 336 | 309 | 292 | 311 | |||||||||||||||
Operating expenses |
(151 | ) | (153 | ) | (146 | ) | (143 | ) | (145 | ) | ||||||||||
General administrative expenses |
(139 | ) | (142 | ) | (136 | ) | (133 | ) | (131 | ) | ||||||||||
Personnel |
(81 | ) | (82 | ) | (79 | ) | (81 | ) | (74 | ) | ||||||||||
Other general administrative expenses |
(58 | ) | (60 | ) | (57 | ) | (51 | ) | (57 | ) | ||||||||||
Depreciation and amortisation |
(12 | ) | (11 | ) | (11 | ) | (11 | ) | (14 | ) | ||||||||||
Net operating income |
190 | 182 | 162 | 149 | 166 | |||||||||||||||
Net loan-loss provisions |
(39 | ) | (46 | ) | (39 | ) | (44 | ) | (33 | ) | ||||||||||
Other income |
(1 | ) | (2 | ) | 3 | (4 | ) | (22 | ) | |||||||||||
Profit before taxes |
150 | 135 | 125 | 101 | 111 | |||||||||||||||
Tax on profit |
(27 | ) | (23 | ) | (26 | ) | (24 | ) | (23 | ) | ||||||||||
Profit from continuing operations |
122 | 112 | 99 | 77 | 88 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
122 | 112 | 99 | 77 | 88 | |||||||||||||||
Minority interests |
33 | 30 | 26 | 20 | 24 | |||||||||||||||
Attributable profit to the Group |
89 | 82 | 73 | 57 | 64 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
18,303 | 18,329 | 18,466 | 18,977 | 19,616 | |||||||||||||||
Trading portfolio (w/o loans) |
1,258 | 1,132 | 1,032 | 894 | 858 | |||||||||||||||
Available-for-sale financial assets |
5,355 | 5,647 | 5,500 | 5,305 | 5,515 | |||||||||||||||
Due from credit institutions ** |
1,223 | 1,245 | 1,166 | 1,247 | 789 | |||||||||||||||
Intangible assets and property and equipment |
241 | 235 | 229 | 260 | 252 | |||||||||||||||
Other assets |
2,168 | 1,660 | 1,773 | 2,429 | 1,519 | |||||||||||||||
Total assets/liabilities & shareholders equity |
28,548 | 28,248 | 28,166 | 29,112 | 28,549 | |||||||||||||||
Customer deposits ** |
20,481 | 20,181 | 20,404 | 21,460 | 21,329 | |||||||||||||||
Marketable debt securities ** |
240 | 350 | 401 | 398 | 447 | |||||||||||||||
Subordinated debt ** |
372 | 100 | 100 | 100 | 100 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
1,268 | 1,659 | 1,396 | 1,152 | 670 | |||||||||||||||
Other liabilities |
3,786 | 3,591 | 3,476 | 3,515 | 3,426 | |||||||||||||||
Stockholders equity *** |
2,402 | 2,367 | 2,388 | 2,487 | 2,577 | |||||||||||||||
Other managed and marketed customer funds |
3,960 | 3,928 | 3,607 | 3,209 | 3,249 | |||||||||||||||
Mutual funds |
3,813 | 3,766 | 3,500 | 3,106 | 3,158 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
147 | 162 | 107 | 103 | 91 | |||||||||||||||
Managed and marketed customer funds |
25,053 | 24,559 | 24,512 | 25,168 | 25,125 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments
|
| |||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
7.33 | 7.07 | 7.14 | 6.30 | 5.93 | |||||||||||||||
Coverage ratio |
61.6 | 63.5 | 63.1 | 64.0 | 67.0 | |||||||||||||||
Cost of credit |
1.00 | 1.00 | 0.96 | 0.87 | 0.82 |
38
Poland
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
197 | 183 | 13 | 7.2 | ||||||||||||
Net fees |
96 | 96 | (0 | ) | (0.5 | ) | ||||||||||
Gains (losses) on financial transactions |
25 | 52 | (27 | ) | (51.9 | ) | ||||||||||
Other operating income * |
(6 | ) | (4 | ) | (2 | ) | 45.6 | |||||||||
Gross income |
311 | 327 | (16 | ) | (4.9 | ) | ||||||||||
Operating expenses |
(145 | ) | (145 | ) | (0 | ) | 0.0 | |||||||||
General administrative expenses |
(131 | ) | (134 | ) | 3 | (2.0 | ) | |||||||||
Personnel |
(74 | ) | (78 | ) | 4 | (5.2 | ) | |||||||||
Other general administrative expenses |
(57 | ) | (56 | ) | (1 | ) | 2.6 | |||||||||
Depreciation and amortisation |
(14 | ) | (11 | ) | (3 | ) | 23.8 | |||||||||
Net operating income |
166 | 182 | (16 | ) | (8.8 | ) | ||||||||||
Net loan-loss provisions |
(33 | ) | (38 | ) | 5 | (12.1 | ) | |||||||||
Other income |
(22 | ) | (1 | ) | (21 | ) | | |||||||||
Profit before taxes |
111 | 144 | (33 | ) | (23.0 | ) | ||||||||||
Tax on profit |
(23 | ) | (26 | ) | 4 | (13.5 | ) | |||||||||
Profit from continuing operations |
88 | 117 | (29 | ) | (25.1 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
88 | 117 | (29 | ) | (25.1 | ) | ||||||||||
Minority interests |
24 | 32 | (9 | ) | (26.5 | ) | ||||||||||
Attributable profit to the Group |
64 | 85 | (21 | ) | (24.5 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses |
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
19,616 | 17,563 | 2,053 | 11.7 | ||||||||||||
Trading portfolio (w/o loans) |
858 | 1,207 | (349 | ) | (28.9 | ) | ||||||||||
Available-for-sale financial assets |
5,515 | 5,138 | 376 | 7.3 | ||||||||||||
Due from credit institutions ** |
789 | 1,174 | (385 | ) | (32.8 | ) | ||||||||||
Intangible assets and property and equipment |
252 | 231 | 21 | 9.2 | ||||||||||||
Other assets |
1,519 | 2,081 | (561 | ) | (27.0 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
28,549 | 27,394 | 1,155 | 4.2 | ||||||||||||
Customer deposits ** |
21,329 | 19,652 | 1,677 | 8.5 | ||||||||||||
Marketable debt securities ** |
447 | 231 | 216 | 93.6 | ||||||||||||
Subordinated debt ** |
100 | 357 | (257 | ) | (71.9 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
670 | 1,217 | (547 | ) | (45.0 | ) | ||||||||||
Other liabilities |
3,426 | 3,633 | (206 | ) | (5.7 | ) | ||||||||||
Stockholders equity *** |
2,577 | 2,305 | 273 | 11.8 | ||||||||||||
Other managed and marketed customer funds |
3,249 | 3,800 | (551 | ) | (14.5 | ) | ||||||||||
Mutual funds |
3,158 | 3,659 | (501 | ) | (13.7 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
91 | 141 | (50 | ) | (35.3 | ) | ||||||||||
Managed and marketed customer funds |
25,125 | 24,040 | 1,085 | 4.5 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
39
Poland
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
183 | 180 | 188 | 198 | 197 | |||||||||||||||
Net fees |
96 | 103 | 99 | 106 | 96 | |||||||||||||||
Gains (losses) on financial transactions |
52 | 17 | 17 | 22 | 25 | |||||||||||||||
Other operating income * |
(4 | ) | 15 | (8 | ) | (40 | ) | (6 | ) | |||||||||||
Gross income |
327 | 314 | 296 | 286 | 311 | |||||||||||||||
Operating expenses |
(145 | ) | (144 | ) | (141 | ) | (140 | ) | (145 | ) | ||||||||||
General administrative expenses |
(134 | ) | (133 | ) | (130 | ) | (130 | ) | (131 | ) | ||||||||||
Personnel |
(78 | ) | (77 | ) | (76 | ) | (79 | ) | (74 | ) | ||||||||||
Other general administrative expenses |
(56 | ) | (56 | ) | (54 | ) | (50 | ) | (57 | ) | ||||||||||
Depreciation and amortisation |
(11 | ) | (11 | ) | (10 | ) | (10 | ) | (14 | ) | ||||||||||
Net operating income |
182 | 171 | 156 | 146 | 166 | |||||||||||||||
Net loan-loss provisions |
(38 | ) | (43 | ) | (38 | ) | (43 | ) | (33 | ) | ||||||||||
Other income |
(1 | ) | (2 | ) | 3 | (4 | ) | (22 | ) | |||||||||||
Profit before taxes |
144 | 126 | 121 | 100 | 111 | |||||||||||||||
Tax on profit |
(26 | ) | (21 | ) | (25 | ) | (24 | ) | (23 | ) | ||||||||||
Profit from continuing operations |
117 | 104 | 95 | 76 | 88 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
117 | 104 | 95 | 76 | 88 | |||||||||||||||
Minority interests |
32 | 28 | 25 | 20 | 24 | |||||||||||||||
Attributable profit to the Group |
85 | 76 | 70 | 56 | 64 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
||||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
17,563 | 18,043 | 18,411 | 19,006 | 19,616 | |||||||||||||||
Trading portfolio (w/o loans) |
1,207 | 1,115 | 1,028 | 895 | 858 | |||||||||||||||
Available-for-sale financial assets |
5,138 | 5,559 | 5,483 | 5,313 | 5,515 | |||||||||||||||
Due from credit institutions ** |
1,174 | 1,225 | 1,162 | 1,249 | 789 | |||||||||||||||
Intangible assets and property and equipment |
231 | 231 | 228 | 260 | 252 | |||||||||||||||
Other assets |
2,081 | 1,634 | 1,768 | 2,433 | 1,519 | |||||||||||||||
Total assets/liabilities & shareholders equity |
27,394 | 27,807 | 28,081 | 29,155 | 28,549 | |||||||||||||||
Customer deposits ** |
19,652 | 19,866 | 20,343 | 21,492 | 21,329 | |||||||||||||||
Marketable debt securities ** |
231 | 345 | 400 | 399 | 447 | |||||||||||||||
Subordinated debt ** |
357 | 99 | 100 | 100 | 100 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
1,217 | 1,633 | 1,392 | 1,153 | 670 | |||||||||||||||
Other liabilities |
3,633 | 3,534 | 3,466 | 3,521 | 3,426 | |||||||||||||||
Stockholders equity *** |
2,305 | 2,330 | 2,381 | 2,491 | 2,577 | |||||||||||||||
Other managed and marketed customer funds |
3,800 | 3,867 | 3,596 | 3,214 | 3,249 | |||||||||||||||
Mutual funds |
3,659 | 3,707 | 3,490 | 3,111 | 3,158 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
141 | 160 | 107 | 103 | 91 | |||||||||||||||
Managed and marketed customer funds |
24,040 | 24,176 | 24,439 | 25,205 | 25,125 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
40
Poland
PLN million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
858 | 800 | 57 | 7.2 | ||||||||||||
Net fees |
418 | 420 | (2 | ) | (0.5 | ) | ||||||||||
Gains (losses) on financial transactions |
108 | 225 | (117 | ) | (51.9 | ) | ||||||||||
Other operating income * |
(27 | ) | (19 | ) | (9 | ) | 45.6 | |||||||||
Gross income |
1,357 | 1,427 | (70 | ) | (4.9 | ) | ||||||||||
Operating expenses |
(632 | ) | (632 | ) | (0 | ) | 0.0 | |||||||||
General administrative expenses |
(572 | ) | (584 | ) | 11 | (2.0 | ) | |||||||||
Personnel |
(324 | ) | (341 | ) | 18 | (5.2 | ) | |||||||||
Other general administrative expenses |
(249 | ) | (243 | ) | (6 | ) | 2.6 | |||||||||
Depreciation and amortisation |
(60 | ) | (48 | ) | (12 | ) | 23.8 | |||||||||
Net operating income |
724 | 794 | (70 | ) | (8.8 | ) | ||||||||||
Net loan-loss provisions |
(144 | ) | (164 | ) | 20 | (12.1 | ) | |||||||||
Other income |
(97 | ) | (3 | ) | (94 | ) | | |||||||||
Profit before taxes |
483 | 627 | (144 | ) | (23.0 | ) | ||||||||||
Tax on profit |
(99 | ) | (115 | ) | 15 | (13.5 | ) | |||||||||
Profit from continuing operations |
384 | 512 | (128 | ) | (25.1 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
384 | 512 | (128 | ) | (25.1 | ) | ||||||||||
Minority interests |
103 | 140 | (37 | ) | (26.5 | ) | ||||||||||
Attributable profit to the Group |
281 | 372 | (91 | ) | (24.5 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
||||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
83,517 | 74,776 | 8,741 | 11.7 | ||||||||||||
Trading portfolio (w/o loans) |
3,653 | 5,141 | (1,487 | ) | (28.9 | ) | ||||||||||
Available-for-sale financial assets |
23,479 | 21,876 | 1,603 | 7.3 | ||||||||||||
Due from credit institutions ** |
3,359 | 4,997 | (1,638 | ) | (32.8 | ) | ||||||||||
Intangible assets and property and equipment |
1,074 | 984 | 90 | 9.2 | ||||||||||||
Other assets |
6,469 | 8,859 | (2,390 | ) | (27.0 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
121,551 | 116,632 | 4,919 | 4.2 | ||||||||||||
Customer deposits ** |
90,810 | 83,671 | 7,139 | 8.5 | ||||||||||||
Marketable debt securities ** |
1,902 | 982 | 920 | 93.6 | ||||||||||||
Subordinated debt ** |
427 | 1,519 | (1,092 | ) | (71.9 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
2,851 | 5,181 | (2,330 | ) | (45.0 | ) | ||||||||||
Other liabilities |
14,587 | 15,466 | (879 | ) | (5.7 | ) | ||||||||||
Stockholders equity *** |
10,973 | 9,812 | 1,162 | 11.8 | ||||||||||||
Other managed and marketed customer funds |
13,833 | 16,179 | (2,345 | ) | (14.5 | ) | ||||||||||
Mutual funds |
13,445 | 15,578 | (2,133 | ) | (13.7 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
389 | 601 | (212 | ) | (35.3 | ) | ||||||||||
Managed and marketed customer funds |
106,972 | 102,352 | 4,621 | 4.5 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
41
Poland
PLN million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
800 | 784 | 822 | 863 | 858 | |||||||||||||||
Net fees |
420 | 448 | 433 | 463 | 418 | |||||||||||||||
Gains (losses) on financial transactions |
225 | 74 | 75 | 96 | 108 | |||||||||||||||
Other operating income * |
(19 | ) | 65 | (37 | ) | (175 | ) | (27 | ) | |||||||||||
Gross income |
1,427 | 1,371 | 1,293 | 1,247 | 1,357 | |||||||||||||||
Operating expenses |
(632 | ) | (626 | ) | (614 | ) | (611 | ) | (632 | ) | ||||||||||
General administrative expenses |
(584 | ) | (580 | ) | (569 | ) | (566 | ) | (572 | ) | ||||||||||
Personnel |
(341 | ) | (335 | ) | (332 | ) | (347 | ) | (324 | ) | ||||||||||
Other general administrative expenses |
(243 | ) | (245 | ) | (237 | ) | (219 | ) | (249 | ) | ||||||||||
Depreciation and amortisation |
(48 | ) | (46 | ) | (45 | ) | (45 | ) | (60 | ) | ||||||||||
Net operating income |
794 | 745 | 679 | 636 | 724 | |||||||||||||||
Net loan-loss provisions |
(164 | ) | (187 | ) | (164 | ) | (186 | ) | (144 | ) | ||||||||||
Other income |
(3 | ) | (9 | ) | 11 | (16 | ) | (97 | ) | |||||||||||
Profit before taxes |
627 | 549 | 526 | 435 | 483 | |||||||||||||||
Tax on profit |
(115 | ) | (93 | ) | (110 | ) | (104 | ) | (99 | ) | ||||||||||
Profit from continuing operations |
512 | 456 | 416 | 331 | 384 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
512 | 456 | 416 | 331 | 384 | |||||||||||||||
Minority interests |
140 | 123 | 110 | 86 | 103 | |||||||||||||||
Attributable profit to the Group |
372 | 333 | 306 | 245 | 281 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
74,776 | 76,820 | 78,386 | 80,918 | 83,517 | |||||||||||||||
Trading portfolio (w/o loans) |
5,141 | 4,746 | 4,379 | 3,810 | 3,653 | |||||||||||||||
Available-for-sale financial assets |
21,876 | 23,668 | 23,344 | 22,622 | 23,479 | |||||||||||||||
Due from credit institutions ** |
4,997 | 5,217 | 4,948 | 5,316 | 3,359 | |||||||||||||||
Intangible assets and property and equipment |
984 | 983 | 973 | 1,108 | 1,074 | |||||||||||||||
Other assets |
8,859 | 6,956 | 7,528 | 10,359 | 6,469 | |||||||||||||||
Total assets/liabilities & shareholders equity |
116,632 | 118,390 | 119,557 | 124,132 | 121,551 | |||||||||||||||
Customer deposits ** |
83,671 | 84,580 | 86,613 | 91,504 | 90,810 | |||||||||||||||
Marketable debt securities ** |
982 | 1,467 | 1,701 | 1,699 | 1,902 | |||||||||||||||
Subordinated debt ** |
1,519 | 420 | 424 | 427 | 427 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
5,181 | 6,953 | 5,928 | 4,910 | 2,851 | |||||||||||||||
Other liabilities |
15,466 | 15,048 | 14,756 | 14,989 | 14,587 | |||||||||||||||
Stockholders equity *** |
9,812 | 9,921 | 10,136 | 10,604 | 10,973 | |||||||||||||||
Other managed and marketed customer funds |
16,179 | 16,464 | 15,312 | 13,684 | 13,833 | |||||||||||||||
Mutual funds |
15,578 | 15,784 | 14,859 | 13,245 | 13,445 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
601 | 680 | 454 | 439 | 389 | |||||||||||||||
Managed and marketed customer funds |
102,352 | 102,931 | 104,050 | 107,314 | 106,972 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
42
Portugal
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
183 | 142 | 40 | 28.4 | ||||||||||||
Net fees |
90 | 68 | 22 | 32.2 | ||||||||||||
Gains (losses) on financial transactions |
54 | 15 | 39 | 263.0 | ||||||||||||
Other operating income * |
10 | 13 | (2 | ) | (19.1 | ) | ||||||||||
Gross income |
337 | 238 | 99 | 41.5 | ||||||||||||
Operating expenses |
(154 | ) | (123 | ) | (31 | ) | 24.8 | |||||||||
General administrative expenses |
(145 | ) | (114 | ) | (31 | ) | 27.2 | |||||||||
Personnel |
(88 | ) | (71 | ) | (16 | ) | 22.5 | |||||||||
Other general administrative expenses |
(57 | ) | (42 | ) | (15 | ) | 35.2 | |||||||||
Depreciation and amortisation |
(9 | ) | (10 | ) | 0 | (4.9 | ) | |||||||||
Net operating income |
183 | 115 | 68 | 59.6 | ||||||||||||
Net loan-loss provisions |
(22 | ) | (22 | ) | (0 | ) | 2.1 | |||||||||
Other income |
(2 | ) | (21 | ) | 19 | (89.2 | ) | |||||||||
Profit before taxes |
158 | 72 | 87 | 121.3 | ||||||||||||
Tax on profit |
(37 | ) | (17 | ) | (20 | ) | 120.5 | |||||||||
Profit from continuing operations |
122 | 55 | 67 | 121.5 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
122 | 55 | 67 | 121.5 | ||||||||||||
Minority interests |
1 | 0 | 0 | 149.1 | ||||||||||||
Attributable profit to the Group |
121 | 55 | 66 | 121.4 | ||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
27,655 | 23,045 | 4,610 | 20.0 | ||||||||||||
Trading portfolio (w/o loans) |
1,761 | 2,160 | (399 | ) | (18.5 | ) | ||||||||||
Available-for-sale financial assets |
6,158 | 6,877 | (719 | ) | (10.5 | ) | ||||||||||
Due from credit institutions ** |
2,936 | 2,173 | 763 | 35.1 | ||||||||||||
Intangible assets and property and equipment |
702 | 700 | 1 | 0.2 | ||||||||||||
Other assets |
8,435 | 5,857 | 2,578 | 44.0 | ||||||||||||
Total assets/liabilities & shareholders equity |
47,647 | 40,813 | 6,834 | 16.7 | ||||||||||||
Customer deposits ** |
29,146 | 23,529 | 5,617 | 23.9 | ||||||||||||
Marketable debt securities ** |
4,700 | 2,732 | 1,968 | 72.1 | ||||||||||||
Subordinated debt ** |
(0 | ) | (0 | ) | 0 | (90.7 | ) | |||||||||
Insurance liabilities |
45 | 30 | 16 | 53.1 | ||||||||||||
Due to credit institutions ** |
9,643 | 11,043 | (1,400 | ) | (12.7 | ) | ||||||||||
Other liabilities |
1,183 | 888 | 296 | 33.3 | ||||||||||||
Stockholders equity *** |
2,929 | 2,591 | 338 | 13.0 | ||||||||||||
Other managed and marketed customer funds |
2,745 | 2,870 | (125 | ) | (4.4 | ) | ||||||||||
Mutual funds |
1,444 | 1,530 | (86 | ) | (5.6 | ) | ||||||||||
Pension funds |
902 | 962 | (60 | ) | (6.2 | ) | ||||||||||
Managed portfolios |
399 | 379 | 21 | 5.4 | ||||||||||||
Managed and marketed customer funds |
36,591 | 29,131 | 7,460 | 25.6 | ||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments |
| |||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
17.21 | 8.96 | 8.24 p. | |||||||||||||
Efficiency ratio (with amortisations) |
45.7 | 51.8 | (6.14 p. | ) | ||||||||||||
NPL ratio |
8.55 | 8.96 | (0.41 p. | ) | ||||||||||||
Coverage ratio |
87.7 | 52.4 | 35.30 p. | |||||||||||||
Number of employees |
6,579 | 5,441 | 1,138 | 20.9 | ||||||||||||
Number of branches |
752 | 584 | 168 | 28.8 |
43
Portugal
|
||||||||||||||||||||
million |
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
142 | 141 | 134 | 138 | 183 | |||||||||||||||
Net fees |
68 | 67 | 66 | 62 | 90 | |||||||||||||||
Gains (losses) on financial transactions |
15 | 10 | 16 | 123 | 54 | |||||||||||||||
Other operating income * |
13 | 16 | 10 | (5 | ) | 10 | ||||||||||||||
Gross income |
238 | 234 | 226 | 318 | 337 | |||||||||||||||
Operating expenses |
(123 | ) | (122 | ) | (124 | ) | (125 | ) | (154 | ) | ||||||||||
General administrative expenses |
(114 | ) | (113 | ) | (115 | ) | (116 | ) | (145 | ) | ||||||||||
Personnel |
(71 | ) | (72 | ) | (72 | ) | (75 | ) | (88 | ) | ||||||||||
Other general administrative expenses |
(42 | ) | (41 | ) | (43 | ) | (41 | ) | (57 | ) | ||||||||||
Depreciation and amortisation |
(10 | ) | (9 | ) | (9 | ) | (9 | ) | (9 | ) | ||||||||||
Net operating income |
115 | 112 | 102 | 193 | 183 | |||||||||||||||
Net loan-loss provisions |
(22 | ) | (21 | ) | (24 | ) | (5 | ) | (22 | ) | ||||||||||
Other income |
(21 | ) | (23 | ) | 23 | (10 | ) | (2 | ) | |||||||||||
Profit before taxes |
72 | 67 | 101 | 178 | 158 | |||||||||||||||
Tax on profit |
(17 | ) | (18 | ) | (24 | ) | (58 | ) | (37 | ) | ||||||||||
Profit from continuing operations |
55 | 49 | 77 | 120 | 122 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
55 | 49 | 77 | 120 | 122 | |||||||||||||||
Minority interests |
0 | (0 | ) | 0 | 1 | 1 | ||||||||||||||
Attributable profit to the Group |
55 | 49 | 77 | 119 | 121 | |||||||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
23,045 | 23,097 | 23,029 | 28,221 | 27,655 | |||||||||||||||
Trading portfolio (w/o loans) |
2,160 | 2,076 | 1,801 | 1,678 | 1,761 | |||||||||||||||
Available-for-sale financial assets |
6,877 | 5,711 | 5,736 | 6,799 | 6,158 | |||||||||||||||
Due from credit institutions ** |
2,173 | 1,934 | 2,097 | 2,465 | 2,936 | |||||||||||||||
Intangible assets and property and equipment |
700 | 693 | 696 | 720 | 702 | |||||||||||||||
Other assets |
5,857 | 5,903 | 5,999 | 9,684 | 8,435 | |||||||||||||||
Total assets/liabilities & shareholders equity |
40,813 | 39,415 | 39,358 | 49,568 | 47,647 | |||||||||||||||
Customer deposits ** |
23,529 | 23,796 | 24,091 | 29,173 | 29,146 | |||||||||||||||
Marketable debt securities ** |
2,732 | 2,608 | 2,566 | 4,994 | 4,700 | |||||||||||||||
Subordinated debt ** |
(0 | ) | 0 | 0 | (0 | ) | (0 | ) | ||||||||||||
Insurance liabilities |
30 | 24 | 22 | 20 | 45 | |||||||||||||||
Due to credit institutions ** |
11,043 | 9,794 | 9,384 | 11,307 | 9,643 | |||||||||||||||
Other liabilities |
888 | 971 | 920 | 1,351 | 1,183 | |||||||||||||||
Stockholders equity *** |
2,591 | 2,221 | 2,376 | 2,724 | 2,929 | |||||||||||||||
Other managed and marketed customer funds |
2,870 | 2,876 | 2,801 | 2,842 | 2,745 | |||||||||||||||
Mutual funds |
1,530 | 1,555 | 1,489 | 1,512 | 1,444 | |||||||||||||||
Pension funds |
962 | 910 | 906 | 915 | 902 | |||||||||||||||
Managed portfolios |
379 | 411 | 406 | 416 | 399 | |||||||||||||||
Managed and marketed customer funds |
29,131 | 29,281 | 29,458 | 37,009 | 36,591 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments |
||||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
8.96 | 8.80 | 8.86 | 7.46 | 8.55 | |||||||||||||||
Coverage ratio |
52.4 | 54.2 | 56.2 | 99.0 | 87.7 | |||||||||||||||
Cost of credit |
0.45 | 0.38 | 0.35 | 0.29 | 0.28 |
44
Spains real estate activity
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
(12 | ) | (13 | ) | 1 | (9.7 | ) | |||||||||
Net fees |
0 | 0 | 0 | 203.3 | ||||||||||||
Gains (losses) on financial transactions |
0 | 44 | (44 | ) | (98.9 | ) | ||||||||||
Other operating income * |
10 | 8 | 2 | 30.7 | ||||||||||||
Gross income |
(1 | ) | 39 | (40 | ) | | ||||||||||
Operating expenses |
(54 | ) | (66 | ) | 12 | (17.8 | ) | |||||||||
General administrative expenses |
(52 | ) | (62 | ) | 10 | (16.9 | ) | |||||||||
Personnel |
(14 | ) | (18 | ) | 4 | (23.7 | ) | |||||||||
Other general administrative expenses |
(38 | ) | (44 | ) | 6 | (14.1 | ) | |||||||||
Depreciation and amortisation |
(3 | ) | (4 | ) | 1 | (30.7 | ) | |||||||||
Net operating income |
(55 | ) | (27 | ) | (28 | ) | 104.3 | |||||||||
Net loan-loss provisions |
(25 | ) | (42 | ) | 17 | (40.7 | ) | |||||||||
Other income |
(11 | ) | (49 | ) | 38 | (77.4 | ) | |||||||||
Profit before taxes |
(92 | ) | (119 | ) | 27 | (22.9 | ) | |||||||||
Tax on profit |
27 | 36 | (9 | ) | (24.8 | ) | ||||||||||
Profit from continuing operations |
(65 | ) | (83 | ) | 18 | (22.1 | ) | |||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
(65 | ) | (83 | ) | 18 | (22.1 | ) | |||||||||
Minority interests |
(1 | ) | 1 | (3 | ) | | ||||||||||
Attributable profit to the Group |
(63 | ) | (85 | ) | 21 | (25.2 | ) | |||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
2,551 | 3,942 | (1,391 | ) | (35.3 | ) | ||||||||||
Trading portfolio (w/o loans) |
5 | 6 | (1 | ) | (20.8 | ) | ||||||||||
Available-for-sale financial assets |
102 | 167 | (65 | ) | (38.9 | ) | ||||||||||
Due from credit institutions ** |
724 | 59 | 665 | | ||||||||||||
Intangible assets and property and equipment |
6,131 | 5,865 | 266 | 4.5 | ||||||||||||
Other assets |
6,461 | 6,429 | 33 | 0.5 | ||||||||||||
Total assets/liabilities & shareholders equity |
15,974 | 16,467 | (493 | ) | (3.0 | ) | ||||||||||
Customer deposits ** |
110 | 149 | (39 | ) | (26.3 | ) | ||||||||||
Marketable debt securities ** |
| | | | ||||||||||||
Subordinated debt ** |
| | | | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
9,377 | 10,538 | (1,161 | ) | (11.0 | ) | ||||||||||
Other liabilities |
1,791 | 1,624 | 167 | 10.3 | ||||||||||||
Stockholders equity *** |
4,696 | 4,156 | 540 | 13.0 | ||||||||||||
Other managed and marketed customer funds |
35 | 139 | (104 | ) | (74.7 | ) | ||||||||||
Mutual funds |
35 | 138 | (104 | ) | (75.0 | ) | ||||||||||
Pension funds |
1 | 1 | (0 | ) | (7.4 | ) | ||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
145 | 288 | (143 | ) | (49.6 | ) |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
45
Spains real estate activity
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
(13 | ) | 0 | (11 | ) | (17 | ) | (12 | ) | |||||||||||
Net fees |
0 | 1 | (1 | ) | 0 | 0 | ||||||||||||||
Gains (losses) on financial transactions |
44 | 34 | 43 | 31 | 0 | |||||||||||||||
Other operating income * |
8 | 11 | (5 | ) | 14 | 10 | ||||||||||||||
Gross income |
39 | 45 | 25 | 27 | (1 | ) | ||||||||||||||
Operating expenses |
(66 | ) | (57 | ) | (58 | ) | (54 | ) | (54 | ) | ||||||||||
General administrative expenses |
(62 | ) | (53 | ) | (57 | ) | (51 | ) | (52 | ) | ||||||||||
Personnel |
(18 | ) | (13 | ) | (17 | ) | (16 | ) | (14 | ) | ||||||||||
Other general administrative expenses |
(44 | ) | (40 | ) | (40 | ) | (35 | ) | (38 | ) | ||||||||||
Depreciation and amortisation |
(4 | ) | (3 | ) | (1 | ) | (3 | ) | (3 | ) | ||||||||||
Net operating income |
(27 | ) | (11 | ) | (33 | ) | (26 | ) | (55 | ) | ||||||||||
Net loan-loss provisions |
(42 | ) | (49 | ) | (83 | ) | (34 | ) | (25 | ) | ||||||||||
Other income |
(49 | ) | (54 | ) | (61 | ) | (140 | ) | (11 | ) | ||||||||||
Profit before taxes |
(119 | ) | (114 | ) | (176 | ) | (199 | ) | (92 | ) | ||||||||||
Tax on profit |
36 | 34 | 53 | 58 | 27 | |||||||||||||||
Profit from continuing operations |
(83 | ) | (80 | ) | (124 | ) | (142 | ) | (65 | ) | ||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
(83 | ) | (80 | ) | (124 | ) | (142 | ) | (65 | ) | ||||||||||
Minority interests |
1 | (1 | ) | (8 | ) | (2 | ) | (1 | ) | |||||||||||
Attributable profit to the Group |
(85 | ) | (79 | ) | (116 | ) | (140 | ) | (63 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
3,942 | 3,323 | 2,982 | 2,794 | 2,551 | |||||||||||||||
Trading portfolio (w/o loans) |
6 | 4 | 4 | 5 | 5 | |||||||||||||||
Available-for-sale financial assets |
167 | 168 | 169 | 104 | 102 | |||||||||||||||
Due from credit institutions ** |
59 | 65 | 781 | 720 | 724 | |||||||||||||||
Intangible assets and property and equipment |
5,865 | 5,804 | 5,692 | 5,827 | 6,131 | |||||||||||||||
Other assets |
6,429 | 6,753 | 6,535 | 6,389 | 6,461 | |||||||||||||||
Total assets/liabilities & shareholders equity |
16,467 | 16,117 | 16,163 | 15,840 | 15,974 | |||||||||||||||
Customer deposits ** |
149 | 245 | 153 | 125 | 110 | |||||||||||||||
Marketable debt securities ** |
| | 0 | 0 | | |||||||||||||||
Subordinated debt ** |
| | | | | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
10,538 | 9,498 | 10,304 | 10,335 | 9,377 | |||||||||||||||
Other liabilities |
1,624 | 1,841 | 1,402 | 1,289 | 1,791 | |||||||||||||||
Stockholders equity *** |
4,156 | 4,533 | 4,304 | 4,092 | 4,696 | |||||||||||||||
Other managed and marketed customer funds |
139 | 44 | 40 | 36 | 35 | |||||||||||||||
Mutual funds |
138 | 43 | 39 | 35 | 35 | |||||||||||||||
Pension funds |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
288 | 288 | 193 | 160 | 145 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
46
United Kingdom
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,154 | 1,194 | (40 | ) | (3.3 | ) | ||||||||||
Net fees |
280 | 287 | (7 | ) | (2.3 | ) | ||||||||||
Gains (losses) on financial transactions |
68 | 60 | 8 | 12.9 | ||||||||||||
Other operating income * |
11 | 10 | 1 | 10.7 | ||||||||||||
Gross income |
1,513 | 1,551 | (38 | ) | (2.4 | ) | ||||||||||
Operating expenses |
(794 | ) | (823 | ) | 30 | (3.6 | ) | |||||||||
General administrative expenses |
(718 | ) | (749 | ) | 31 | (4.1 | ) | |||||||||
Personnel |
(371 | ) | (396 | ) | 25 | (6.4 | ) | |||||||||
Other general administrative expenses |
(346 | ) | (352 | ) | 6 | (1.6 | ) | |||||||||
Depreciation and amortisation |
(76 | ) | (75 | ) | (1 | ) | 1.7 | |||||||||
Net operating income |
719 | 727 | (8 | ) | (1.1 | ) | ||||||||||
Net loan-loss provisions |
(7 | ) | (76 | ) | 69 | (91.4 | ) | |||||||||
Other income |
(59 | ) | (56 | ) | (3 | ) | 5.8 | |||||||||
Profit before taxes |
654 | 596 | 58 | 9.7 | ||||||||||||
Tax on profit |
(192 | ) | (117 | ) | (75 | ) | 64.1 | |||||||||
Profit from continuing operations |
462 | 479 | (17 | ) | (3.5 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
462 | 479 | (17 | ) | (3.5 | ) | ||||||||||
Minority interests |
9 | 8 | 1 | 18.1 | ||||||||||||
Attributable profit to the Group |
453 | 471 | (18 | ) | (3.9 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
267,628 | 279,334 | (11,706 | ) | (4.2 | ) | ||||||||||
Trading portfolio (w/o loans) |
36,151 | 42,850 | (6,698 | ) | (15.6 | ) | ||||||||||
Available-for-sale financial assets |
11,801 | 12,937 | (1,136 | ) | (8.8 | ) | ||||||||||
Due from credit institutions ** |
18,019 | 19,885 | (1,866 | ) | (9.4 | ) | ||||||||||
Intangible assets and property and equipment |
2,787 | 3,094 | (307 | ) | (9.9 | ) | ||||||||||
Other assets |
28,164 | 34,749 | (6,585 | ) | (19.0 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
364,549 | 392,848 | (28,298 | ) | (7.2 | ) | ||||||||||
Customer deposits ** |
217,282 | 220,684 | (3,402 | ) | (1.5 | ) | ||||||||||
Marketable debt securities ** |
71,430 | 78,569 | (7,138 | ) | (9.1 | ) | ||||||||||
Subordinated debt ** |
5,184 | 5,787 | (604 | ) | (10.4 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
15,210 | 26,264 | (11,055 | ) | (42.1 | ) | ||||||||||
Other liabilities |
37,176 | 45,703 | (8,528 | ) | (18.7 | ) | ||||||||||
Stockholders equity *** |
18,268 | 15,841 | 2,428 | 15.3 | ||||||||||||
Other managed and marketed customer funds |
8,784 | 10,469 | (1,684 | ) | (16.1 | ) | ||||||||||
Mutual funds |
8,661 | 10,313 | (1,652 | ) | (16.0 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
124 | 156 | (32 | ) | (20.7 | ) | ||||||||||
Managed and marketed customer funds |
302,681 | 315,509 | (12,828 | ) | (4.1 | ) | ||||||||||
(**).- Including all on-balance sheet balances for this item | ||||||||||||||||
(***).- Capital + reserves + profit + valuation adjustments | ||||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
10.15 | 11.93 | (1.78 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
52.4 | 53.1 | (0.64 p. | ) | ||||||||||||
NPL ratio |
1.49 | 1.75 | (0.26 p. | ) | ||||||||||||
Coverage ratio |
36.5 | 41.2 | (4.70 p. | ) | ||||||||||||
Number of employees |
26,084 | 26,290 | (206 | ) | (0.8 | ) | ||||||||||
Number of branches |
854 | 921 | (67 | ) | (7.3 | ) |
47
United Kingdom
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,194 | 1,247 | 1,250 | 1,251 | 1,154 | |||||||||||||||
Net fees |
287 | 291 | 273 | 240 | 280 | |||||||||||||||
Gains (losses) on financial transactions |
60 | 83 | 58 | 100 | 68 | |||||||||||||||
Other operating income * |
10 | 4 | 23 | 10 | 11 | |||||||||||||||
Gross income |
1,551 | 1,626 | 1,605 | 1,600 | 1,513 | |||||||||||||||
Operating expenses |
(823 | ) | (843 | ) | (844 | ) | (846 | ) | (794 | ) | ||||||||||
General administrative expenses |
(749 | ) | (759 | ) | (760 | ) | (742 | ) | (718 | ) | ||||||||||
Personnel |
(396 | ) | (418 | ) | (391 | ) | (387 | ) | (371 | ) | ||||||||||
Other general administrative expenses |
(352 | ) | (341 | ) | (369 | ) | (355 | ) | (346 | ) | ||||||||||
Depreciation and amortisation |
(75 | ) | (85 | ) | (84 | ) | (104 | ) | (76 | ) | ||||||||||
Net operating income |
727 | 783 | 761 | 755 | 719 | |||||||||||||||
Net loan-loss provisions |
(76 | ) | (18 | ) | 7 | (21 | ) | (7 | ) | |||||||||||
Other income |
(56 | ) | (51 | ) | (130 | ) | (118 | ) | (59 | ) | ||||||||||
Profit before taxes |
596 | 714 | 639 | 616 | 654 | |||||||||||||||
Tax on profit |
(117 | ) | (159 | ) | (149 | ) | (130 | ) | (192 | ) | ||||||||||
Profit from continuing operations |
479 | 555 | 489 | 485 | 462 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
479 | 555 | 489 | 485 | 462 | |||||||||||||||
Minority interests |
8 | 9 | 10 | 10 | 9 | |||||||||||||||
Attributable profit to the Group |
471 | 545 | 480 | 475 | 453 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
279,334 | 287,896 | 284,003 | 282,673 | 267,628 | |||||||||||||||
Trading portfolio (w/o loans) |
42,850 | 41,349 | 40,406 | 40,138 | 36,151 | |||||||||||||||
Available-for-sale financial assets |
12,937 | 12,785 | 12,940 | 12,279 | 11,801 | |||||||||||||||
Due from credit institutions ** |
19,885 | 17,654 | 14,995 | 15,459 | 18,019 | |||||||||||||||
Intangible assets and property and equipment |
3,094 | 3,175 | 3,043 | 3,025 | 2,787 | |||||||||||||||
Other assets |
34,749 | 26,772 | 27,936 | 29,581 | 28,164 | |||||||||||||||
Total assets/liabilities & shareholders equity |
392,848 | 389,632 | 383,323 | 383,155 | 364,549 | |||||||||||||||
Customer deposits ** |
220,684 | 230,233 | 227,212 | 231,947 | 217,282 | |||||||||||||||
Marketable debt securities ** |
78,569 | 72,622 | 72,051 | 70,133 | 71,430 | |||||||||||||||
Subordinated debt ** |
5,787 | 5,273 | 4,098 | 4,127 | 5,184 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
26,264 | 26,331 | 24,871 | 23,610 | 15,210 | |||||||||||||||
Other liabilities |
45,703 | 39,385 | 38,500 | 36,162 | 37,176 | |||||||||||||||
Stockholders equity *** |
15,841 | 15,788 | 16,591 | 17,176 | 18,268 | |||||||||||||||
Other managed and marketed customer funds |
10,469 | 10,807 | 9,376 | 9,703 | 8,784 | |||||||||||||||
Mutual funds |
10,313 | 10,645 | 9,238 | 9,564 | 8,661 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
156 | 162 | 138 | 139 | 124 | |||||||||||||||
Managed and marketed customer funds |
315,509 | 318,935 | 312,737 | 315,910 | 302,681 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item (***).- Capital + reserves + profit + valuation adjustments |
||||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
1.75 | 1.61 | 1.51 | 1.52 | 1.49 | |||||||||||||||
Coverage ratio |
41.2 | 40.3 | 39.6 | 38.2 | 36.5 | |||||||||||||||
Cost of credit |
0.11 | 0.08 | 0.04 | 0.03 | 0.01 |
48
United Kingdom
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,154 | 1,151 | 3 | 0.2 | ||||||||||||
Net fees |
280 | 276 | 4 | 1.3 | ||||||||||||
Gains (losses) on financial transactions |
68 | 58 | 10 | 17.1 | ||||||||||||
Other operating income * |
11 | 10 | 1 | 14.8 | ||||||||||||
Gross income |
1,513 | 1,495 | 18 | 1.2 | ||||||||||||
Operating expenses |
(794 | ) | (794 | ) | 0 | (0.0 | ) | |||||||||
General administrative expenses |
(718 | ) | (722 | ) | 4 | (0.6 | ) | |||||||||
Personnel |
(371 | ) | (382 | ) | 11 | (2.9 | ) | |||||||||
Other general administrative expenses |
(346 | ) | (340 | ) | (7 | ) | 2.0 | |||||||||
Depreciation and amortisation |
(76 | ) | (72 | ) | (4 | ) | 5.4 | |||||||||
Net operating income |
719 | 701 | 18 | 2.6 | ||||||||||||
Net loan-loss provisions |
(7 | ) | (73 | ) | 67 | (91.1 | ) | |||||||||
Other income |
(59 | ) | (54 | ) | (5 | ) | 9.8 | |||||||||
Profit before taxes |
654 | 575 | 79 | 13.8 | ||||||||||||
Tax on profit |
(192 | ) | (113 | ) | (79 | ) | 70.2 | |||||||||
Profit from continuing operations |
462 | 462 | 0 | 0.1 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
462 | 462 | 0 | 0.1 | ||||||||||||
Minority interests |
9 | 8 | 2 | 22.5 | ||||||||||||
Attributable profit to the Group |
453 | 454 | (1 | ) | (0.3 | ) |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
267,628 | 256,660 | 10,968 | 4.3 | ||||||||||||
Trading portfolio (w/o loans) |
36,151 | 39,372 | (3,220 | ) | (8.2 | ) | ||||||||||
Available-for-sale financial assets |
11,801 | 11,887 | (86 | ) | (0.7 | ) | ||||||||||
Due from credit institutions ** |
18,019 | 18,271 | (252 | ) | (1.4 | ) | ||||||||||
Intangible assets and property and equipment |
2,787 | 2,843 | (56 | ) | (2.0 | ) | ||||||||||
Other assets |
28,164 | 31,929 | (3,765 | ) | (11.8 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
364,549 | 360,961 | 3,589 | 1.0 | ||||||||||||
Customer deposits ** |
217,282 | 202,771 | 14,511 | 7.2 | ||||||||||||
Marketable debt securities ** |
71,430 | 72,191 | (761 | ) | (1.1 | ) | ||||||||||
Subordinated debt ** |
5,184 | 5,318 | (134 | ) | (2.5 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
15,210 | 24,132 | (8,923 | ) | (37.0 | ) | ||||||||||
Other liabilities |
37,176 | 41,994 | (4,818 | ) | (11.5 | ) | ||||||||||
Stockholders equity *** |
18,268 | 14,555 | 3,713 | 25.5 | ||||||||||||
Other managed and marketed customer funds |
8,784 | 9,619 | (835 | ) | (8.7 | ) | ||||||||||
Mutual funds |
8,661 | 9,476 | (815 | ) | (8.6 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
124 | 143 | (20 | ) | (13.7 | ) | ||||||||||
Managed and marketed customer funds |
302,681 | 289,899 | 12,782 | 4.4 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
49
United Kingdom
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,151 | 1,168 | 1,163 | 1,172 | 1,154 | |||||||||||||||
Net fees |
276 | 273 | 254 | 224 | 280 | |||||||||||||||
Gains (losses) on financial transactions |
58 | 78 | 54 | 94 | 68 | |||||||||||||||
Other operating income * |
10 | 3 | 22 | 9 | 11 | |||||||||||||||
Gross income |
1,495 | 1,522 | 1,493 | 1,499 | 1,513 | |||||||||||||||
Operating expenses |
(794 | ) | (789 | ) | (785 | ) | (792 | ) | (794 | ) | ||||||||||
General administrative expenses |
(722 | ) | (710 | ) | (707 | ) | (695 | ) | (718 | ) | ||||||||||
Personnel |
(382 | ) | (392 | ) | (363 | ) | (362 | ) | (371 | ) | ||||||||||
Other general administrative expenses |
(340 | ) | (318 | ) | (344 | ) | (332 | ) | (346 | ) | ||||||||||
Depreciation and amortisation |
(72 | ) | (79 | ) | (78 | ) | (98 | ) | (76 | ) | ||||||||||
Net operating income |
701 | 733 | 708 | 707 | 719 | |||||||||||||||
Net loan-loss provisions |
(73 | ) | (16 | ) | 8 | (20 | ) | (7 | ) | |||||||||||
Other income |
(54 | ) | (47 | ) | (122 | ) | (111 | ) | (59 | ) | ||||||||||
Profit before taxes |
575 | 670 | 594 | 577 | 654 | |||||||||||||||
Tax on profit |
(113 | ) | (150 | ) | (139 | ) | (122 | ) | (192 | ) | ||||||||||
Profit from continuing operations |
462 | 520 | 455 | 455 | 462 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
462 | 520 | 455 | 455 | 462 | |||||||||||||||
Minority interests |
8 | 9 | 9 | 10 | 9 | |||||||||||||||
Attributable profit to the Group |
454 | 511 | 446 | 445 | 453 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
256,660 | 258,745 | 264,969 | 262,103 | 267,628 | |||||||||||||||
Trading portfolio (w/o loans) |
39,372 | 37,162 | 37,698 | 37,217 | 36,151 | |||||||||||||||
Available-for-sale financial assets |
11,887 | 11,491 | 12,072 | 11,385 | 11,801 | |||||||||||||||
Due from credit institutions ** |
18,271 | 15,867 | 13,990 | 14,334 | 18,019 | |||||||||||||||
Intangible assets and property and equipment |
2,843 | 2,854 | 2,839 | 2,805 | 2,787 | |||||||||||||||
Other assets |
31,929 | 24,061 | 26,064 | 27,429 | 28,164 | |||||||||||||||
Total assets/liabilities & shareholders equity |
360,961 | 350,179 | 357,633 | 355,273 | 364,549 | |||||||||||||||
Customer deposits ** |
202,771 | 206,920 | 211,984 | 215,069 | 217,282 | |||||||||||||||
Marketable debt securities ** |
72,191 | 65,268 | 67,222 | 65,029 | 71,430 | |||||||||||||||
Subordinated debt ** |
5,318 | 4,739 | 3,823 | 3,826 | 5,184 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
24,132 | 23,664 | 23,204 | 21,892 | 15,210 | |||||||||||||||
Other liabilities |
41,994 | 35,397 | 35,920 | 33,531 | 37,176 | |||||||||||||||
Stockholders equity *** |
14,555 | 14,189 | 15,479 | 15,926 | 18,268 | |||||||||||||||
Other managed and marketed customer funds |
9,619 | 9,713 | 8,748 | 8,997 | 8,784 | |||||||||||||||
Mutual funds |
9,476 | 9,567 | 8,619 | 8,868 | 8,661 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
143 | 146 | 129 | 129 | 124 | |||||||||||||||
Managed and marketed customer funds |
289,899 | 286,641 | 291,777 | 292,922 | 302,681 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
50
United Kingdom
£ million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
889 | 887 | 2 | 0.2 | ||||||||||||
Net fees |
216 | 213 | 3 | 1.3 | ||||||||||||
Gains (losses) on financial transactions |
52 | 45 | 8 | 17.1 | ||||||||||||
Other operating income * |
8 | 7 | 1 | 14.8 | ||||||||||||
Gross income |
1,166 | 1,152 | 14 | 1.2 | ||||||||||||
Operating expenses |
(611 | ) | (612 | ) | 0 | (0.0 | ) | |||||||||
General administrative expenses |
(553 | ) | (556 | ) | 3 | (0.6 | ) | |||||||||
Personnel |
(286 | ) | (294 | ) | 8 | (2.9 | ) | |||||||||
Other general administrative expenses |
(267 | ) | (262 | ) | (5 | ) | 2.0 | |||||||||
Depreciation and amortisation |
(59 | ) | (56 | ) | (3 | ) | 5.4 | |||||||||
Net operating income |
554 | 540 | 14 | 2.6 | ||||||||||||
Net loan-loss provisions |
(5 | ) | (56 | ) | 51 | (91.1 | ) | |||||||||
Other income |
(45 | ) | (41 | ) | (4 | ) | 9.8 | |||||||||
Profit before taxes |
504 | 443 | 61 | 13.8 | ||||||||||||
Tax on profit |
(148 | ) | (87 | ) | (61 | ) | 70.2 | |||||||||
Profit from continuing operations |
356 | 356 | 0 | 0.1 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
356 | 356 | 0 | 0.1 | ||||||||||||
Minority interests |
7 | 6 | 1 | 22.5 | ||||||||||||
Attributable profit to the Group |
349 | 350 | (1 | ) | (0.3 | ) |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
211,841 | 203,159 | 8,682 | 4.3 | ||||||||||||
Trading portfolio (w/o loans) |
28,616 | 31,165 | (2,549 | ) | (8.2 | ) | ||||||||||
Available-for-sale financial assets |
9,341 | 9,409 | (68 | ) | (0.7 | ) | ||||||||||
Due from credit institutions ** |
14,263 | 14,462 | (199 | ) | (1.4 | ) | ||||||||||
Intangible assets and property and equipment |
2,206 | 2,250 | (44 | ) | (2.0 | ) | ||||||||||
Other assets |
22,293 | 25,273 | (2,980 | ) | (11.8 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
288,559 | 285,718 | 2,841 | 1.0 | ||||||||||||
Customer deposits ** |
171,990 | 160,503 | 11,486 | 7.2 | ||||||||||||
Marketable debt securities ** |
56,541 | 57,143 | (602 | ) | (1.1 | ) | ||||||||||
Subordinated debt ** |
4,103 | 4,209 | (106 | ) | (2.5 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
12,039 | 19,102 | (7,063 | ) | (37.0 | ) | ||||||||||
Other liabilities |
29,426 | 33,240 | (3,814 | ) | (11.5 | ) | ||||||||||
Stockholders equity *** |
14,460 | 11,521 | 2,939 | 25.5 | ||||||||||||
Other managed and marketed customer funds |
6,953 | 7,614 | (661 | ) | (8.7 | ) | ||||||||||
Mutual funds |
6,855 | 7,501 | (645 | ) | (8.6 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
98 | 113 | (15 | ) | (13.7 | ) | ||||||||||
Managed and marketed customer funds |
239,587 | 229,470 | 10,117 | 4.4 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
51
United Kingdom
£ million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
887 | 900 | 896 | 903 | 889 | |||||||||||||||
Net fees |
213 | 210 | 196 | 173 | 216 | |||||||||||||||
Gains (losses) on financial transactions |
45 | 60 | 42 | 72 | 52 | |||||||||||||||
Other operating income * |
7 | 3 | 17 | 7 | 8 | |||||||||||||||
Gross income |
1,152 | 1,173 | 1,150 | 1,155 | 1,166 | |||||||||||||||
Operating expenses |
(612 | ) | (608 | ) | (605 | ) | (610 | ) | (611 | ) | ||||||||||
General administrative expenses |
(556 | ) | (547 | ) | (545 | ) | (535 | ) | (553 | ) | ||||||||||
Personnel |
(294 | ) | (302 | ) | (280 | ) | (279 | ) | (286 | ) | ||||||||||
Other general administrative expenses |
(262 | ) | (245 | ) | (265 | ) | (256 | ) | (267 | ) | ||||||||||
Depreciation and amortisation |
(56 | ) | (61 | ) | (60 | ) | (75 | ) | (59 | ) | ||||||||||
Net operating income |
540 | 565 | 545 | 545 | 554 | |||||||||||||||
Net loan-loss provisions |
(56 | ) | (12 | ) | 6 | (15 | ) | (5 | ) | |||||||||||
Other income |
(41 | ) | (36 | ) | (94 | ) | (85 | ) | (45 | ) | ||||||||||
Profit before taxes |
443 | 516 | 457 | 444 | 504 | |||||||||||||||
Tax on profit |
(87 | ) | (115 | ) | (107 | ) | (94 | ) | (148 | ) | ||||||||||
Profit from continuing operations |
356 | 401 | 350 | 350 | 356 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
356 | 401 | 350 | 350 | 356 | |||||||||||||||
Minority interests |
6 | 7 | 7 | 7 | 7 | |||||||||||||||
Attributable profit to the Group |
350 | 394 | 343 | 343 | 349 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
203,159 | 204,809 | 209,736 | 207,468 | 211,841 | |||||||||||||||
Trading portfolio (w/o loans) |
31,165 | 29,416 | 29,840 | 29,459 | 28,616 | |||||||||||||||
Available-for-sale financial assets |
9,409 | 9,096 | 9,556 | 9,012 | 9,341 | |||||||||||||||
Due from credit institutions ** |
14,462 | 12,559 | 11,074 | 11,346 | 14,263 | |||||||||||||||
Intangible assets and property and equipment |
2,250 | 2,259 | 2,247 | 2,220 | 2,206 | |||||||||||||||
Other assets |
25,273 | 19,045 | 20,631 | 21,711 | 22,293 | |||||||||||||||
Total assets/liabilities & shareholders equity |
285,718 | 277,184 | 283,084 | 281,217 | 288,559 | |||||||||||||||
Customer deposits ** |
160,503 | 163,788 | 167,796 | 170,238 | 171,990 | |||||||||||||||
Marketable debt securities ** |
57,143 | 51,663 | 53,210 | 51,474 | 56,541 | |||||||||||||||
Subordinated debt ** |
4,209 | 3,751 | 3,026 | 3,029 | 4,103 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
19,102 | 18,732 | 18,367 | 17,329 | 12,039 | |||||||||||||||
Other liabilities |
33,240 | 28,019 | 28,432 | 26,541 | 29,426 | |||||||||||||||
Stockholders equity *** |
11,521 | 11,231 | 12,253 | 12,606 | 14,460 | |||||||||||||||
Other managed and marketed customer funds |
7,614 | 7,688 | 6,924 | 7,122 | 6,953 | |||||||||||||||
Mutual funds |
7,501 | 7,573 | 6,822 | 7,019 | 6,855 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
113 | 116 | 102 | 102 | 98 | |||||||||||||||
Managed and marketed customer funds |
229,470 | 226,890 | 230,956 | 231,862 | 239,587 |
(**). | - Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
52
Latin America
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
3,044 | 3,545 | (501 | ) | (14.1 | ) | ||||||||||
Net fees |
961 | 1,135 | (174 | ) | (15.3 | ) | ||||||||||
Gains (losses) on financial transactions |
141 | 168 | (27 | ) | (15.9 | ) | ||||||||||
Other operating income * |
(7 | ) | (2 | ) | (5 | ) | 289.0 | |||||||||
Gross income |
4,139 | 4,846 | (707 | ) | (14.6 | ) | ||||||||||
Operating expenses |
(1,736 | ) | (2,047 | ) | 311 | (15.2 | ) | |||||||||
General administrative expenses |
(1,584 | ) | (1,865 | ) | 280 | (15.0 | ) | |||||||||
Personnel |
(868 | ) | (1,002 | ) | 134 | (13.3 | ) | |||||||||
Other general administrative expenses |
(716 | ) | (863 | ) | 146 | (17.0 | ) | |||||||||
Depreciation and amortisation |
(151 | ) | (182 | ) | 31 | (17.0 | ) | |||||||||
Net operating income |
2,404 | 2,800 | (396 | ) | (14.1 | ) | ||||||||||
Net loan-loss provisions |
(1,105 | ) | (1,210 | ) | 105 | (8.7 | ) | |||||||||
Other income |
(189 | ) | (203 | ) | 15 | (7.2 | ) | |||||||||
Profit before taxes |
1,110 | 1,386 | (276 | ) | (19.9 | ) | ||||||||||
Tax on profit |
(269 | ) | (401 | ) | 132 | (32.9 | ) | |||||||||
Profit from continuing operations |
841 | 985 | (145 | ) | (14.7 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
841 | 985 | (145 | ) | (14.7 | ) | ||||||||||
Minority interests |
137 | 145 | (7 | ) | (5.2 | ) | ||||||||||
Attributable profit to the Group |
703 | 840 | (137 | ) | (16.3 | ) |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
131,830 | 146,660 | (14,830 | ) | (10.1 | ) | ||||||||||
Trading portfolio (w/o loans) |
36,152 | 34,791 | 1,361 | 3.9 | ||||||||||||
Available-for-sale financial assets |
27,032 | 31,013 | (3,981 | ) | (12.8 | ) | ||||||||||
Due from credit institutions ** |
23,305 | 25,749 | (2,445 | ) | (9.5 | ) | ||||||||||
Intangible assets and property and equipment |
3,549 | 4,116 | (567 | ) | (13.8 | ) | ||||||||||
Other assets |
50,960 | 43,264 | 7,696 | 17.8 | ||||||||||||
Total assets/liabilities & shareholders equity |
272,829 | 285,594 | (12,765 | ) | (4.5 | ) | ||||||||||
Customer deposits ** |
125,348 | 135,772 | (10,424 | ) | (7.7 | ) | ||||||||||
Marketable debt securities ** |
32,972 | 34,578 | (1,606 | ) | (4.6 | ) | ||||||||||
Subordinated debt ** |
6,347 | 6,743 | (396 | ) | (5.9 | ) | ||||||||||
Insurance liabilities |
1 | 1 | 0 | 11.6 | ||||||||||||
Due to credit institutions ** |
41,879 | 38,413 | 3,466 | 9.0 | ||||||||||||
Other liabilities |
44,863 | 47,835 | (2,972 | ) | (6.2 | ) | ||||||||||
Stockholders equity *** |
21,418 | 22,251 | (833 | ) | (3.7 | ) | ||||||||||
Other managed and marketed customer funds |
68,191 | 70,073 | (1,882 | ) | (2.7 | ) | ||||||||||
Mutual funds |
63,275 | 64,919 | (1,645 | ) | (2.5 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
4,916 | 5,153 | (237 | ) | (4.6 | ) | ||||||||||
Managed and marketed customer funds |
232,858 | 247,166 | (14,308 | ) | (5.8 | ) | ||||||||||
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
(***).- Capital + reserves + profit + valuation adjustments |
||||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
14.31 | 15.28 | (0.98 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
41.9 | 42.2 | (0.30 p. | ) | ||||||||||||
NPL ratio |
4.88 | 4.64 | 0.24 p. | |||||||||||||
Coverage ratio |
79.7 | 83.6 | (3.90 p. | ) | ||||||||||||
Number of employees |
90,142 | 84,599 | 5,543 | 6.6 | ||||||||||||
Number of branches |
5,848 | 5,725 | 123 | 2.1 |
53
Latin America
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
3,545 | 3,610 | 3,334 | 3,263 | 3,044 | |||||||||||||||
Net fees |
1,135 | 1,151 | 1,079 | 1,086 | 961 | |||||||||||||||
Gains (losses) on financial transactions |
168 | 163 | 126 | 60 | 141 | |||||||||||||||
Other operating income * |
(2 | ) | 27 | 23 | (13 | ) | (7 | ) | ||||||||||||
Gross income |
4,846 | 4,952 | 4,562 | 4,396 | 4,139 | |||||||||||||||
Operating expenses |
(2,047 | ) | (2,027 | ) | (1,895 | ) | (1,937 | ) | (1,736 | ) | ||||||||||
General administrative expenses |
(1,865 | ) | (1,845 | ) | (1,738 | ) | (1,782 | ) | (1,584 | ) | ||||||||||
Personnel |
(1,002 | ) | (1,020 | ) | (956 | ) | (978 | ) | (868 | ) | ||||||||||
Other general administrative expenses |
(863 | ) | (826 | ) | (782 | ) | (804 | ) | (716 | ) | ||||||||||
Depreciation and amortisation |
(182 | ) | (182 | ) | (157 | ) | (155 | ) | (151 | ) | ||||||||||
Net operating income |
2,800 | 2,925 | 2,667 | 2,459 | 2,404 | |||||||||||||||
Net loan-loss provisions |
(1,210 | ) | (1,226 | ) | (1,241 | ) | (1,273 | ) | (1,105 | ) | ||||||||||
Other income |
(203 | ) | (273 | ) | (264 | ) | (153 | ) | (189 | ) | ||||||||||
Profit before taxes |
1,386 | 1,426 | 1,163 | 1,034 | 1,110 | |||||||||||||||
Tax on profit |
(401 | ) | (374 | ) | (223 | ) | (221 | ) | (269 | ) | ||||||||||
Profit from continuing operations |
985 | 1,052 | 940 | 812 | 841 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
985 | 1,052 | 940 | 812 | 841 | |||||||||||||||
Minority interests |
145 | 176 | 156 | 119 | 137 | |||||||||||||||
Attributable profit to the Group |
840 | 876 | 783 | 693 | 703 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
146,660 | 145,094 | 129,593 | 133,138 | 131,830 | |||||||||||||||
Trading portfolio (w/o loans) |
34,791 | 34,585 | 37,178 | 33,670 | 36,152 | |||||||||||||||
Available-for-sale financial assets |
31,013 | 34,670 | 23,722 | 25,926 | 27,032 | |||||||||||||||
Due from credit institutions ** |
25,749 | 25,756 | 25,987 | 21,923 | 23,305 | |||||||||||||||
Intangible assets and property and equipment |
4,116 | 4,056 | 3,416 | 3,522 | 3,549 | |||||||||||||||
Other assets |
43,264 | 40,335 | 44,473 | 49,706 | 50,960 | |||||||||||||||
Total assets/liabilities & shareholders equity |
285,594 | 284,495 | 264,369 | 267,885 | 272,829 | |||||||||||||||
Customer deposits ** |
135,772 | 133,402 | 118,044 | 122,413 | 125,348 | |||||||||||||||
Marketable debt securities ** |
34,578 | 36,915 | 31,939 | 33,172 | 32,972 | |||||||||||||||
Subordinated debt ** |
6,743 | 6,659 | 6,088 | 6,355 | 6,347 | |||||||||||||||
Insurance liabilities |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
Due to credit institutions ** |
38,413 | 41,756 | 42,517 | 42,393 | 41,879 | |||||||||||||||
Other liabilities |
47,835 | 43,404 | 45,884 | 43,872 | 44,863 | |||||||||||||||
Stockholders equity *** |
22,251 | 22,358 | 19,896 | 19,678 | 21,418 | |||||||||||||||
Other managed and marketed customer funds |
70,073 | 71,585 | 62,030 | 65,690 | 68,191 | |||||||||||||||
Mutual funds |
64,919 | 66,315 | 57,561 | 61,096 | 63,275 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
5,153 | 5,270 | 4,470 | 4,594 | 4,916 | |||||||||||||||
Managed and marketed customer funds |
247,166 | 248,561 | 218,103 | 227,631 | 232,858 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||||||
(***).- Capital + reserves + profit + valuation adjustments |
||||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
4.64 | 4.74 | 4.65 | 4.96 | 4.88 | |||||||||||||||
Coverage ratio |
83.6 | 84.4 | 85.4 | 79.0 | 79.7 | |||||||||||||||
Cost of credit |
3.53 | 3.39 | 3.33 | 3.36 | 3.39 |
54
Latin America
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
3,044 | 2,751 | 293 | 10.6 | ||||||||||||
Net fees |
961 | 867 | 94 | 10.9 | ||||||||||||
Gains (losses) on financial transactions |
141 | 137 | 5 | 3.3 | ||||||||||||
Other operating income * |
(7 | ) | (1 | ) | (6 | ) | 528.9 | |||||||||
Gross income |
4,139 | 3,754 | 386 | 10.3 | ||||||||||||
Operating expenses |
(1,736 | ) | (1,580 | ) | (156 | ) | 9.9 | |||||||||
General administrative expenses |
(1,584 | ) | (1,439 | ) | (145 | ) | 10.1 | |||||||||
Personnel |
(868 | ) | (775 | ) | (94 | ) | 12.1 | |||||||||
Other general administrative expenses |
(716 | ) | (665 | ) | (52 | ) | 7.8 | |||||||||
Depreciation and amortisation |
(151 | ) | (141 | ) | (11 | ) | 7.6 | |||||||||
Net operating income |
2,404 | 2,174 | 230 | 10.6 | ||||||||||||
Net loan-loss provisions |
(1,105 | ) | (945 | ) | (160 | ) | 17.0 | |||||||||
Other income |
(189 | ) | (150 | ) | (39 | ) | 26.0 | |||||||||
Profit before taxes |
1,110 | 1,079 | 31 | 2.8 | ||||||||||||
Tax on profit |
(269 | ) | (308 | ) | 38 | (12.5 | ) | |||||||||
Profit from continuing operations |
841 | 772 | 69 | 9.0 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
841 | 772 | 69 | 9.0 | ||||||||||||
Minority interests |
137 | 120 | 18 | 14.8 | ||||||||||||
Attributable profit to the Group |
703 | 652 | 51 | 7.9 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
131,830 | 123,641 | 8,189 | 6.6 | ||||||||||||
Trading portfolio (w/o loans) |
36,152 | 29,445 | 6,707 | 22.8 | ||||||||||||
Available-for-sale financial assets |
27,032 | 26,001 | 1,031 | 4.0 | ||||||||||||
Due from credit institutions ** |
23,305 | 21,813 | 1,492 | 6.8 | ||||||||||||
Intangible assets and property and equipment |
3,549 | 3,359 | 190 | 5.7 | ||||||||||||
Other assets |
50,960 | 36,168 | 14,792 | 40.9 | ||||||||||||
Total assets/liabilities & shareholders equity |
272,829 | 240,427 | 32,402 | 13.5 | ||||||||||||
Customer deposits ** |
125,348 | 113,504 | 11,845 | 10.4 | ||||||||||||
Marketable debt securities ** |
32,972 | 29,579 | 3,393 | 11.5 | ||||||||||||
Subordinated debt ** |
6,347 | 5,757 | 590 | 10.2 | ||||||||||||
Insurance liabilities |
1 | 1 | 0 | 31.5 | ||||||||||||
Due to credit institutions ** |
41,879 | 32,579 | 9,300 | 28.5 | ||||||||||||
Other liabilities |
44,863 | 40,397 | 4,466 | 11.1 | ||||||||||||
Stockholders equity *** |
21,418 | 18,609 | 2,809 | 15.1 | ||||||||||||
Other managed and marketed customer funds |
68,191 | 59,334 | 8,856 | 14.9 | ||||||||||||
Mutual funds |
63,275 | 54,883 | 8,392 | 15.3 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
4,916 | 4,452 | 464 | 10.4 | ||||||||||||
Managed and marketed customer funds |
232,858 | 208,175 | 24,683 | 11.9 |
(**).- | Including all on-balance sheet balances for this item |
(***).- | Capital + reserves + profit + valuation adjustments |
55
Latin America
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
2,751 | 2,903 | 3,003 | 3,083 | 3,044 | |||||||||||||||
Net fees |
867 | 910 | 948 | 1,000 | 961 | |||||||||||||||
Gains (losses) on financial transactions |
137 | 129 | 112 | 54 | 141 | |||||||||||||||
Other operating income * |
(1 | ) | 21 | 20 | (6 | ) | (7 | ) | ||||||||||||
Gross income |
3,754 | 3,964 | 4,083 | 4,130 | 4,139 | |||||||||||||||
Operating expenses |
(1,580 | ) | (1,616 | ) | (1,682 | ) | (1,796 | ) | (1,736 | ) | ||||||||||
General administrative expenses |
(1,439 | ) | (1,471 | ) | (1,541 | ) | (1,651 | ) | (1,584 | ) | ||||||||||
Personnel |
(775 | ) | (815 | ) | (850 | ) | (909 | ) | (868 | ) | ||||||||||
Other general administrative expenses |
(665 | ) | (656 | ) | (691 | ) | (742 | ) | (716 | ) | ||||||||||
Depreciation and amortisation |
(141 | ) | (145 | ) | (141 | ) | (144 | ) | (151 | ) | ||||||||||
Net operating income |
2,174 | 2,348 | 2,402 | 2,334 | 2,404 | |||||||||||||||
Net loan-loss provisions |
(945 | ) | (988 | ) | (1,119 | ) | (1,200 | ) | (1,105 | ) | ||||||||||
Other income |
(150 | ) | (214 | ) | (235 | ) | (158 | ) | (189 | ) | ||||||||||
Profit before taxes |
1,079 | 1,145 | 1,048 | 977 | 1,110 | |||||||||||||||
Tax on profit |
(308 | ) | (295 | ) | (205 | ) | (215 | ) | (269 | ) | ||||||||||
Profit from continuing operations |
772 | 851 | 843 | 762 | 841 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
772 | 851 | 843 | 762 | 841 | |||||||||||||||
Minority interests |
120 | 148 | 146 | 117 | 137 | |||||||||||||||
Attributable profit to the Group |
652 | 703 | 697 | 646 | 703 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
123,641 | 125,518 | 131,847 | 134,199 | 131,830 | |||||||||||||||
Trading portfolio (w/o loans) |
29,445 | 30,154 | 37,955 | 33,729 | 36,152 | |||||||||||||||
Available-for-sale financial assets |
26,001 | 29,331 | 24,559 | 26,303 | 27,032 | |||||||||||||||
Due from credit institutions ** |
21,813 | 22,368 | 26,820 | 22,161 | 23,305 | |||||||||||||||
Intangible assets and property and equipment |
3,359 | 3,358 | 3,399 | 3,549 | 3,549 | |||||||||||||||
Other assets |
36,168 | 34,174 | 46,299 | 50,681 | 50,960 | |||||||||||||||
Total assets/liabilities & shareholders equity |
240,427 | 244,904 | 270,880 | 270,623 | 272,829 | |||||||||||||||
Customer deposits ** |
113,504 | 114,338 | 119,202 | 122,804 | 125,348 | |||||||||||||||
Marketable debt securities ** |
29,579 | 32,042 | 33,839 | 34,130 | 32,972 | |||||||||||||||
Subordinated debt ** |
5,757 | 5,770 | 6,431 | 6,525 | 6,347 | |||||||||||||||
Insurance liabilities |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
Due to credit institutions ** |
32,579 | 36,155 | 44,215 | 42,928 | 41,879 | |||||||||||||||
Other liabilities |
40,397 | 37,501 | 46,994 | 44,410 | 44,863 | |||||||||||||||
Stockholders equity *** |
18,609 | 19,098 | 20,199 | 19,825 | 21,418 | |||||||||||||||
Other managed and marketed customer funds |
59,334 | 61,402 | 65,071 | 67,364 | 68,191 | |||||||||||||||
Mutual funds |
54,883 | 56,771 | 60,317 | 62,618 | 63,275 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
4,452 | 4,630 | 4,754 | 4,747 | 4,916 | |||||||||||||||
Managed and marketed customer funds |
208,175 | 213,552 | 224,542 | 230,823 | 232,858 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
56
Latin America. Results
million
Gross income | Net operating income | Attributable profit to the Group | ||||||||||||||||||||||||||||||||||
1Q 16 | 1Q 15 | Var. (%) | 1Q 16 | 1Q 15 | Var. (%) | 1Q 16 | 1Q 15 | Var. (%) | ||||||||||||||||||||||||||||
Brazil |
2,381 | 3,007 | (20.8 | ) | 1,434 | 1,820 | (21.2 | ) | 359 | 477 | (24.8 | ) | ||||||||||||||||||||||||
Mexico |
792 | 819 | (3.2 | ) | 470 | 463 | 1.4 | 143 | 153 | (6.7 | ) | |||||||||||||||||||||||||
Chile |
556 | 553 | 0.5 | 321 | 316 | 1.7 | 122 | 106 | 14.8 | |||||||||||||||||||||||||||
Argentina |
306 | 372 | (17.6 | ) | 126 | 157 | (19.9 | ) | 67 | 80 | (16.0 | ) | ||||||||||||||||||||||||
Uruguay |
84 | 76 | 11.0 | 42 | 32 | 32.8 | 22 | 16 | 32.2 | |||||||||||||||||||||||||||
Peru |
16 | 17 | (6.6 | ) | 10 | 11 | (10.7 | ) | 7 | 7 | 7.7 | |||||||||||||||||||||||||
Colombia |
4 | 4 | 12.2 | 1 | 1 | 19.2 | (11 | ) | 3 | | ||||||||||||||||||||||||||
Rest |
0 | 0 | 97.3 | (0 | ) | (1 | ) | (23.3 | ) | (5 | ) | (2 | ) | 175.9 | ||||||||||||||||||||||
Total |
4,139 | 4,846 | (14.6 | ) | 2,404 | 2,800 | (14.1 | ) | 703 | 840 | (16.3 | ) |
57
Latin America. Results
million (currency-neutral basis)
Gross income | Net operating income | Attributable profit to the Group | ||||||||||||||||||||||||||||||||||
1Q 16 | 1Q 15 | Var. (%) | 1Q 16 | 1Q 15 | Var. (%) | 1Q 16 | 1Q 15 | Var. (%) | ||||||||||||||||||||||||||||
Brazil |
2,381 | 2,250 | 5.8 | 1,434 | 1,362 | 5.3 | 359 | 357 | 0.4 | |||||||||||||||||||||||||||
Mexico |
792 | 693 | 14.4 | 470 | 392 | 19.9 | 143 | 129 | 10.3 | |||||||||||||||||||||||||||
Chile |
556 | 503 | 10.5 | 321 | 287 | 11.8 | 122 | 96 | 26.2 | |||||||||||||||||||||||||||
Argentina |
306 | 228 | 34.0 | 126 | 97 | 30.2 | 67 | 49 | 36.6 | |||||||||||||||||||||||||||
Uruguay |
84 | 61 | 38.2 | 42 | 25 | 65.4 | 22 | 13 | 64.6 | |||||||||||||||||||||||||||
Peru |
16 | 15 | 3.3 | 10 | 10 | (1.3 | ) | 7 | 6 | 19.1 | ||||||||||||||||||||||||||
Colombia |
4 | 3 | 44.6 | 1 | 1 | 53.6 | (11 | ) | 3 | | ||||||||||||||||||||||||||
Rest |
0 | 0 | 99.8 | (0 | ) | (1 | ) | (22.5 | ) | (5 | ) | (2 | ) | 177.0 | ||||||||||||||||||||||
Total |
4,139 | 3,754 | 10.3 | 2,404 | 2,174 | 10.6 | 703 | 652 | 7.9 |
58
Brazil
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,793 | 2,254 | (462 | ) | (20.5 | ) | ||||||||||
Net fees |
573 | 707 | (135 | ) | (19.1 | ) | ||||||||||
Gains (losses) on financial transactions |
3 | 24 | (22 | ) | (89.6 | ) | ||||||||||
Other operating income * |
13 | 21 | (8 | ) | (37.2 | ) | ||||||||||
Gross income |
2,381 | 3,007 | (626 | ) | (20.8 | ) | ||||||||||
Operating expenses |
(947 | ) | (1,187 | ) | 240 | (20.2 | ) | |||||||||
General administrative expenses |
(857 | ) | (1,068 | ) | 211 | (19.8 | ) | |||||||||
Personnel |
(473 | ) | (574 | ) | 102 | (17.7 | ) | |||||||||
Other general administrative expenses |
(384 | ) | (494 | ) | 109 | (22.2 | ) | |||||||||
Depreciation and amortisation |
(90 | ) | (118 | ) | 28 | (24.0 | ) | |||||||||
Net operating income |
1,434 | 1,820 | (386 | ) | (21.2 | ) | ||||||||||
Net loan-loss provisions |
(720 | ) | (826 | ) | 106 | (12.9 | ) | |||||||||
Other income |
(177 | ) | (209 | ) | 32 | (15.2 | ) | |||||||||
Profit before taxes |
536 | 785 | (248 | ) | (31.6 | ) | ||||||||||
Tax on profit |
(137 | ) | (253 | ) | 116 | (45.7 | ) | |||||||||
Profit from continuing operations |
399 | 532 | (133 | ) | (25.0 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
399 | 532 | (133 | ) | (25.0 | ) | ||||||||||
Minority interests |
41 | 55 | (14 | ) | (25.8 | ) | ||||||||||
Attributable profit to the Group |
359 | 477 | (119 | ) | (24.8 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
60,470 | 72,492 | (12,022 | ) | (16.6 | ) | ||||||||||
Trading portfolio (w/o loans) |
15,620 | 14,720 | 900 | 6.1 | ||||||||||||
Available-for-sale financial assets |
16,072 | 23,071 | (6,999 | ) | (30.3 | ) | ||||||||||
Due from credit institutions ** |
9,607 | 11,351 | (1,744 | ) | (15.4 | ) | ||||||||||
Intangible assets and property and equipment |
2,368 | 2,683 | (315 | ) | (11.8 | ) | ||||||||||
Other assets |
37,977 | 29,622 | 8,355 | 28.2 | ||||||||||||
Total assets/liabilities & shareholders equity |
142,114 | 153,938 | (11,825 | ) | (7.7 | ) | ||||||||||
Customer deposits ** |
59,737 | 65,221 | (5,483 | ) | (8.4 | ) | ||||||||||
Marketable debt securities ** |
22,248 | 22,597 | (349 | ) | (1.5 | ) | ||||||||||
Subordinated debt ** |
4,220 | 4,471 | (251 | ) | (5.6 | ) | ||||||||||
Insurance liabilities |
1 | 1 | 0 | 11.6 | ||||||||||||
Due to credit institutions ** |
21,478 | 22,329 | (850 | ) | (3.8 | ) | ||||||||||
Other liabilities |
22,363 | 27,084 | (4,721 | ) | (17.4 | ) | ||||||||||
Stockholders equity *** |
12,066 | 12,236 | (170 | ) | (1.4 | ) | ||||||||||
Other managed and marketed customer funds |
48,621 | 47,664 | 956 | 2.0 | ||||||||||||
Mutual funds |
45,689 | 44,589 | 1,100 | 2.5 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
2,932 | 3,075 | (143 | ) | (4.7 | ) | ||||||||||
Managed and marketed customer funds |
134,826 | 139,953 | (5,127 | ) | (3.7 | ) | ||||||||||
(**).- Including all on-balance sheet balances for this item | ||||||||||||||||
(***).- Capital + reserves + profit + valuation adjustments | ||||||||||||||||
Ratios (%) and other data |
||||||||||||||||
RoTE |
13.50 | 15.09 | (1.59 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
39.8 | 39.5 | 0.31 p. | |||||||||||||
NPL ratio |
5.93 | 4.90 | 1.03 p. | |||||||||||||
Coverage ratio |
83.7 | 95.2 | (11.50 p. | ) | ||||||||||||
Number of employees |
49,604 | 46,583 | 3,021 | 6.5 | ||||||||||||
Number of branches |
3,439 | 3,391 | 48 | 1.4 |
59
Brazil
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
2,254 | 2,186 | 1,976 | 1,903 | 1,793 | |||||||||||||||
Net fees |
707 | 683 | 622 | 631 | 573 | |||||||||||||||
Gains (losses) on financial transactions |
24 | 66 | 6 | (54 | ) | 3 | ||||||||||||||
Other operating income * |
21 | 46 | 53 | 16 | 13 | |||||||||||||||
Gross income |
3,007 | 2,981 | 2,656 | 2,497 | 2,381 | |||||||||||||||
Operating expenses |
(1,187 | ) | (1,151 | ) | (1,056 | ) | (1,059 | ) | (947 | ) | ||||||||||
General administrative expenses |
(1,068 | ) | (1,034 | ) | (960 | ) | (978 | ) | (857 | ) | ||||||||||
Personnel |
(574 | ) | (571 | ) | (525 | ) | (535 | ) | (473 | ) | ||||||||||
Other general administrative expenses |
(494 | ) | (463 | ) | (435 | ) | (444 | ) | (384 | ) | ||||||||||
Depreciation and amortisation |
(118 | ) | (116 | ) | (96 | ) | (81 | ) | (90 | ) | ||||||||||
Net operating income |
1,820 | 1,830 | 1,600 | 1,438 | 1,434 | |||||||||||||||
Net loan-loss provisions |
(826 | ) | (828 | ) | (813 | ) | (830 | ) | (720 | ) | ||||||||||
Other income |
(209 | ) | (263 | ) | (255 | ) | (151 | ) | (177 | ) | ||||||||||
Profit before taxes |
785 | 739 | 533 | 457 | 536 | |||||||||||||||
Tax on profit |
(253 | ) | (230 | ) | (99 | ) | (107 | ) | (137 | ) | ||||||||||
Profit from continuing operations |
532 | 509 | 434 | 350 | 399 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
532 | 509 | 434 | 350 | 399 | |||||||||||||||
Minority interests |
55 | 56 | 49 | 33 | 41 | |||||||||||||||
Attributable profit to the Group |
477 | 452 | 385 | 317 | 359 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
72,492 | 72,083 | 58,227 | 60,238 | 60,470 | |||||||||||||||
Trading portfolio (w/o loans) |
14,720 | 15,822 | 14,836 | 13,360 | 15,620 | |||||||||||||||
Available-for-sale financial assets |
23,071 | 26,054 | 15,086 | 15,814 | 16,072 | |||||||||||||||
Due from credit institutions ** |
11,351 | 13,299 | 12,564 | 10,592 | 9,607 | |||||||||||||||
Intangible assets and property and equipment |
2,683 | 2,672 | 2,129 | 2,280 | 2,368 | |||||||||||||||
Other assets |
29,622 | 28,573 | 32,139 | 36,250 | 37,977 | |||||||||||||||
Total assets/liabilities & shareholders equity |
153,938 | 158,503 | 134,982 | 138,534 | 142,114 | |||||||||||||||
Customer deposits ** |
65,221 | 67,207 | 54,847 | 56,636 | 59,737 | |||||||||||||||
Marketable debt securities ** |
22,597 | 24,688 | 21,045 | 21,984 | 22,248 | |||||||||||||||
Subordinated debt ** |
4,471 | 4,455 | 3,986 | 4,188 | 4,220 | |||||||||||||||
Insurance liabilities |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
Due to credit institutions ** |
22,329 | 25,887 | 23,247 | 21,600 | 21,478 | |||||||||||||||
Other liabilities |
27,084 | 23,590 | 21,795 | 24,085 | 22,363 | |||||||||||||||
Stockholders equity *** |
12,236 | 12,674 | 10,061 | 10,040 | 12,066 | |||||||||||||||
Other managed and marketed customer funds |
47,664 | 49,878 | 41,753 | 45,607 | 48,621 | |||||||||||||||
Mutual funds |
44,589 | 46,614 | 39,129 | 42,961 | 45,689 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
3,075 | 3,264 | 2,625 | 2,646 | 2,932 | |||||||||||||||
Managed and marketed customer funds |
139,953 | 146,228 | 121,631 | 128,414 | 134,826 | |||||||||||||||
(**).- Including all on-balance sheet balances for this item | ||||||||||||||||||||
(***).- Capital + reserves + profit + valuation adjustments |
||||||||||||||||||||
Other information |
||||||||||||||||||||
NPL ratio |
4.90 | 5.13 | 5.30 | 5.98 | 5.93 | |||||||||||||||
Coverage ratio |
95.2 | 95.9 | 96.0 | 83.7 | 83.7 | |||||||||||||||
Cost of credit |
4.63 | 4.45 | 4.40 | 4.50 | 4.63 |
60
Brazil
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,793 | 1,687 | 106 | 6.3 | ||||||||||||
Net fees |
573 | 529 | 43 | 8.1 | ||||||||||||
Gains (losses) on financial transactions |
3 | 18 | (16 | ) | (86.1 | ) | ||||||||||
Other operating income * |
13 | 15 | (2 | ) | (16.1 | ) | ||||||||||
Gross income |
2,381 | 2,250 | 131 | 5.8 | ||||||||||||
Operating expenses |
(947 | ) | (888 | ) | (59 | ) | 6.6 | |||||||||
General administrative expenses |
(857 | ) | (799 | ) | (58 | ) | 7.2 | |||||||||
Personnel |
(473 | ) | (430 | ) | (43 | ) | 9.9 | |||||||||
Other general administrative expenses |
(384 | ) | (370 | ) | (15 | ) | 4.0 | |||||||||
Depreciation and amortisation |
(90 | ) | (89 | ) | (1 | ) | 1.5 | |||||||||
Net operating income |
1,434 | 1,362 | 72 | 5.3 | ||||||||||||
Net loan- loss provisions |
(720 | ) | (618 | ) | (102 | ) | 16.4 | |||||||||
Other income |
(177 | ) | (156 | ) | (21 | ) | 13.4 | |||||||||
Profit before taxes |
536 | 587 | (51 | ) | (8.7 | ) | ||||||||||
Tax on profit |
(137 | ) | (189 | ) | 52 | (27.5 | ) | |||||||||
Profit from continuing operations |
399 | 398 | 1 | 0.3 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
399 | 398 | 1 | 0.3 | ||||||||||||
Minority interests |
41 | 41 | (0 | ) | (0.9 | ) | ||||||||||
Attributable profit to the Group |
359 | 357 | 2 | 0.4 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
60,470 | 61,548 | (1,078 | ) | (1.8 | ) | ||||||||||
Trading portfolio (w/o loans) |
15,620 | 12,498 | 3,122 | 25.0 | ||||||||||||
Available-for-sale financial assets |
16,072 | 19,588 | (3,516 | ) | (17.9 | ) | ||||||||||
Due from credit institutions ** |
9,607 | 9,637 | (30 | ) | (0.3 | ) | ||||||||||
Intangible assets and property and equipment |
2,368 | 2,278 | 90 | 3.9 | ||||||||||||
Other assets |
37,977 | 25,150 | 12,827 | 51.0 | ||||||||||||
Total assets/liabilities & shareholders equity |
142,114 | 130,698 | 11,415 | 8.7 | ||||||||||||
Customer deposits ** |
59,737 | 55,374 | 4,363 | 7.9 | ||||||||||||
Marketable debt securities ** |
22,248 | 19,186 | 3,062 | 16.0 | ||||||||||||
Subordinated debt ** |
4,220 | 3,796 | 424 | 11.2 | ||||||||||||
Insurance liabilities |
1 | 1 | 0 | 31.5 | ||||||||||||
Due to credit institutions ** |
21,478 | 18,958 | 2,521 | 13.3 | ||||||||||||
Other liabilities |
22,363 | 22,995 | (632 | ) | (2.7 | ) | ||||||||||
Stockholders equity *** |
12,066 | 10,389 | 1,677 | 16.1 | ||||||||||||
Other managed and marketed customer funds |
48,621 | 40,469 | 8,152 | 20.1 | ||||||||||||
Mutual funds |
45,689 | 37,858 | 7,831 | 20.7 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
2,932 | 2,611 | 321 | 12.3 | ||||||||||||
Managed and marketed customer funds |
134,826 | 118,825 | 16,001 | 13.5 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
61
Brazil
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,687 | 1,727 | 1,794 | 1,851 | 1,793 | |||||||||||||||
Net fees |
529 | 539 | 564 | 610 | 573 | |||||||||||||||
Gains (losses) on financial transactions |
18 | 51 | 9 | (42 | ) | 3 | ||||||||||||||
Other operating income * |
15 | 36 | 45 | 18 | 13 | |||||||||||||||
Gross income |
2,250 | 2,353 | 2,412 | 2,437 | 2,381 | |||||||||||||||
Operating expenses |
(888 | ) | (909 | ) | (957 | ) | (1,023 | ) | (947 | ) | ||||||||||
General administrative expenses |
(799 | ) | (817 | ) | (869 | ) | (943 | ) | (857 | ) | ||||||||||
Personnel |
(430 | ) | (451 | ) | (475 | ) | (515 | ) | (473 | ) | ||||||||||
Other general administrative expenses |
(370 | ) | (366 | ) | (394 | ) | (428 | ) | (384 | ) | ||||||||||
Depreciation and amortisation |
(89 | ) | (92 | ) | (88 | ) | (81 | ) | (90 | ) | ||||||||||
Net operating income |
1,362 | 1,444 | 1,455 | 1,413 | 1,434 | |||||||||||||||
Net loan-loss provisions |
(618 | ) | (654 | ) | (730 | ) | (795 | ) | (720 | ) | ||||||||||
Other income |
(156 | ) | (207 | ) | (227 | ) | (155 | ) | (177 | ) | ||||||||||
Profit before taxes |
587 | 584 | 498 | 463 | 536 | |||||||||||||||
Tax on profit |
(189 | ) | (182 | ) | (101 | ) | (112 | ) | (137 | ) | ||||||||||
Profit from continuing operations |
398 | 402 | 397 | 351 | 399 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
398 | 402 | 397 | 351 | 399 | |||||||||||||||
Minority interests |
41 | 44 | 44 | 34 | 41 | |||||||||||||||
Attributable profit to the Group |
357 | 358 | 352 | 317 | 359 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
61,548 | 60,747 | 63,366 | 63,081 | 60,470 | |||||||||||||||
Trading portfolio (w/o loans) |
12,498 | 13,333 | 16,146 | 13,990 | 15,620 | |||||||||||||||
Available-for-sale financial assets |
19,588 | 21,957 | 16,418 | 16,560 | 16,072 | |||||||||||||||
Due from credit institutions ** |
9,637 | 11,208 | 13,673 | 11,092 | 9,607 | |||||||||||||||
Intangible assets and property and equipment |
2,278 | 2,252 | 2,317 | 2,388 | 2,368 | |||||||||||||||
Other assets |
25,150 | 24,080 | 34,975 | 37,960 | 37,977 | |||||||||||||||
Total assets/liabilities & shareholders equity |
130,698 | 133,577 | 146,895 | 145,071 | 142,114 | |||||||||||||||
Customer deposits ** |
55,374 | 56,638 | 59,687 | 59,308 | 59,737 | |||||||||||||||
Marketable debt securities ** |
19,186 | 20,806 | 22,902 | 23,021 | 22,248 | |||||||||||||||
Subordinated debt ** |
3,796 | 3,754 | 4,338 | 4,385 | 4,220 | |||||||||||||||
Insurance liabilities |
1 | 1 | 1 | 1 | 1 | |||||||||||||||
Due to credit institutions ** |
18,958 | 21,816 | 25,299 | 22,620 | 21,478 | |||||||||||||||
Other liabilities |
22,995 | 19,880 | 23,719 | 25,222 | 22,363 | |||||||||||||||
Stockholders equity *** |
10,389 | 10,681 | 10,949 | 10,514 | 12,066 | |||||||||||||||
Other managed and marketed customer funds |
40,469 | 42,034 | 45,439 | 47,759 | 48,621 | |||||||||||||||
Mutual funds |
37,858 | 39,283 | 42,582 | 44,989 | 45,689 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
2,611 | 2,751 | 2,856 | 2,771 | 2,932 | |||||||||||||||
Managed and marketed customer funds |
118,825 | 123,232 | 132,366 | 134,474 | 134,826 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
62
Brazil
R$ million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
7,701 | 7,248 | 453 | 6.3 | ||||||||||||
Net fees |
2,460 | 2,275 | 185 | 8.1 | ||||||||||||
Gains (losses) on financial transactions |
11 | 77 | (67 | ) | (86.1 | ) | ||||||||||
Other operating income * |
56 | 67 | (11 | ) | (16.1 | ) | ||||||||||
Gross income |
10,227 | 9,666 | 561 | 5.8 | ||||||||||||
Operating expenses |
(4,068 | ) | (3,815 | ) | (253 | ) | 6.6 | |||||||||
General administrative expenses |
(3,682 | ) | (3,434 | ) | (248 | ) | 7.2 | |||||||||
Personnel |
(2,030 | ) | (1,847 | ) | (184 | ) | 9.9 | |||||||||
Other general administrative expenses |
(1,651 | ) | (1,587 | ) | (64 | ) | 4.0 | |||||||||
Depreciation and amortisation |
(387 | ) | (381 | ) | (6 | ) | 1.5 | |||||||||
Net operating income |
6,159 | 5,851 | 308 | 5.3 | ||||||||||||
Net loan-loss provisions |
(3,093 | ) | (2,657 | ) | (437 | ) | 16.4 | |||||||||
Other income |
(762 | ) | (672 | ) | (90 | ) | 13.4 | |||||||||
Profit before taxes |
2,304 | 2,523 | (218 | ) | (8.7 | ) | ||||||||||
Tax on profit |
(589 | ) | (812 | ) | 223 | (27.5 | ) | |||||||||
Profit from continuing operations |
1,716 | 1,711 | 5 | 0.3 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
1,716 | 1,711 | 5 | 0.3 | ||||||||||||
Minority interests |
175 | 177 | (2 | ) | (0.9 | ) | ||||||||||
Attributable profit to the Group |
1,540 | 1,534 | 6 | 0.4 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
248,979 | 253,417 | (4,438 | ) | (1.8 | ) | ||||||||||
Trading portfolio (w/o loans) |
64,314 | 51,459 | 12,856 | 25.0 | ||||||||||||
Available-for-sale financial assets |
66,174 | 80,650 | (14,476 | ) | (17.9 | ) | ||||||||||
Due from credit institutions ** |
39,557 | 39,680 | (124 | ) | (0.3 | ) | ||||||||||
Intangible assets and property and equipment |
9,749 | 9,380 | 370 | 3.9 | ||||||||||||
Other assets |
156,365 | 103,552 | 52,813 | 51.0 | ||||||||||||
Total assets/liabilities & shareholders equity |
585,139 | 538,138 | 47,001 | 8.7 | ||||||||||||
Customer deposits ** |
245,962 | 227,998 | 17,964 | 7.9 | ||||||||||||
Marketable debt securities ** |
91,603 | 78,994 | 12,608 | 16.0 | ||||||||||||
Subordinated debt ** |
17,377 | 15,630 | 1,746 | 11.2 | ||||||||||||
Insurance liabilities |
4 | 3 | 1 | 31.5 | ||||||||||||
Due to credit institutions ** |
88,435 | 78,056 | 10,379 | 13.3 | ||||||||||||
Other liabilities |
92,079 | 94,682 | (2,602 | ) | (2.7 | ) | ||||||||||
Stockholders equity *** |
49,679 | 42,774 | 6,905 | 16.1 | ||||||||||||
Other managed and marketed customer funds |
200,192 | 166,625 | 33,566 | 20.1 | ||||||||||||
Mutual funds |
188,119 | 155,875 | 32,244 | 20.7 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
12,072 | 10,750 | 1,322 | 12.3 | ||||||||||||
Managed and marketed customer funds |
555,133 | 489,248 | 65,885 | 13.5 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
63
Brazil
R$ million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
7,248 | 7,419 | 7,705 | 7,952 | 7,701 | |||||||||||||||
Net fees |
2,275 | 2,317 | 2,424 | 2,619 | 2,460 | |||||||||||||||
Gains (losses) on financial transactions |
77 | 220 | 37 | (181 | ) | 11 | ||||||||||||||
Other operating income * |
67 | 153 | 195 | 79 | 56 | |||||||||||||||
Gross income |
9,666 | 10,109 | 10,362 | 10,468 | 10,227 | |||||||||||||||
Operating expenses |
(3,815 | ) | (3,904 | ) | (4,110 | ) | (4,396 | ) | (4,068 | ) | ||||||||||
General administrative expenses |
(3,434 | ) | (3,511 | ) | (3,732 | ) | (4,050 | ) | (3,682 | ) | ||||||||||
Personnel |
(1,847 | ) | (1,937 | ) | (2,040 | ) | (2,213 | ) | (2,030 | ) | ||||||||||
Other general administrative expenses |
(1,587 | ) | (1,573 | ) | (1,692 | ) | (1,837 | ) | (1,651 | ) | ||||||||||
Depreciation and amortisation |
(381 | ) | (394 | ) | (378 | ) | (347 | ) | (387 | ) | ||||||||||
Net operating income |
5,851 | 6,205 | 6,251 | 6,072 | 6,159 | |||||||||||||||
Net loan-loss provisions |
(2,657 | ) | (2,808 | ) | (3,138 | ) | (3,415 | ) | (3,093 | ) | ||||||||||
Other income |
(672 | ) | (888 | ) | (975 | ) | (667 | ) | (762 | ) | ||||||||||
Profit before taxes |
2,523 | 2,509 | 2,139 | 1,990 | 2,304 | |||||||||||||||
Tax on profit |
(812 | ) | (783 | ) | (435 | ) | (481 | ) | (589 | ) | ||||||||||
Profit from continuing operations |
1,711 | 1,726 | 1,704 | 1,509 | 1,716 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
1,711 | 1,726 | 1,704 | 1,509 | 1,716 | |||||||||||||||
Minority interests |
177 | 191 | 190 | 147 | 175 | |||||||||||||||
Attributable profit to the Group |
1,534 | 1,536 | 1,514 | 1,362 | 1,540 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
253,417 | 250,119 | 260,905 | 259,729 | 248,979 | |||||||||||||||
Trading portfolio (w/o loans) |
51,459 | 54,899 | 66,478 | 57,604 | 64,314 | |||||||||||||||
Available-for-sale financial assets |
80,650 | 90,406 | 67,598 | 68,184 | 66,174 | |||||||||||||||
Due from credit institutions ** |
39,680 | 46,147 | 56,297 | 45,670 | 39,557 | |||||||||||||||
Intangible assets and property and equipment |
9,380 | 9,271 | 9,538 | 9,831 | 9,749 | |||||||||||||||
Other assets |
103,552 | 99,147 | 144,008 | 156,298 | 156,365 | |||||||||||||||
Total assets/liabilities & shareholders equity |
538,138 | 549,990 | 604,826 | 597,316 | 585,139 | |||||||||||||||
Customer deposits ** |
227,998 | 233,203 | 245,756 | 244,196 | 245,962 | |||||||||||||||
Marketable debt securities ** |
78,994 | 85,665 | 94,297 | 94,787 | 91,603 | |||||||||||||||
Subordinated debt ** |
15,630 | 15,457 | 17,861 | 18,056 | 17,377 | |||||||||||||||
Insurance liabilities |
3 | 4 | 4 | 5 | 4 | |||||||||||||||
Due to credit institutions ** |
78,056 | 89,827 | 104,167 | 93,134 | 88,435 | |||||||||||||||
Other liabilities |
94,682 | 81,855 | 97,659 | 103,848 | 92,079 | |||||||||||||||
Stockholders equity *** |
42,774 | 43,979 | 45,081 | 43,290 | 49,679 | |||||||||||||||
Other managed and marketed customer funds |
166,625 | 173,071 | 187,089 | 196,645 | 200,192 | |||||||||||||||
Mutual funds |
155,875 | 161,745 | 175,328 | 185,236 | 188,119 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
10,750 | 11,326 | 11,761 | 11,408 | 12,072 | |||||||||||||||
Managed and marketed customer funds |
489,248 | 507,397 | 545,003 | 553,684 | 555,133 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
64
Mexico | ||||||||||||||||
million
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
594 | 597 | (3 | ) | (0.5 | ) | ||||||||||
Net fees |
173 | 194 | (20 | ) | (10.6 | ) | ||||||||||
Gains (losses) on financial transactions |
34 | 43 | (9 | ) | (20.0 | ) | ||||||||||
Other operating income * |
(9 | ) | (15 | ) | 5 | (36.7 | ) | |||||||||
Gross income |
792 | 819 | (26 | ) | (3.2 | ) | ||||||||||
Operating expenses |
(322 | ) | (355 | ) | 33 | (9.3 | ) | |||||||||
General administrative expenses |
(293 | ) | (325 | ) | 32 | (10.0 | ) | |||||||||
Personnel |
(152 | ) | (168 | ) | 15 | (9.1 | ) | |||||||||
Other general administrative expenses |
(140 | ) | (157 | ) | 17 | (10.9 | ) | |||||||||
Depreciation and amortisation |
(29 | ) | (30 | ) | 1 | (2.1 | ) | |||||||||
Net operating income |
470 | 463 | 7 | 1.4 | ||||||||||||
Net loan-loss provisions |
(221 | ) | (211 | ) | (11 | ) | 5.0 | |||||||||
Other income |
(6 | ) | 8 | (14 | ) | | ||||||||||
Profit before taxes |
243 | 260 | (18 | ) | (6.9 | ) | ||||||||||
Tax on profit |
(55 | ) | (59 | ) | 4 | (7.1 | ) | |||||||||
Profit from continuing operations |
187 | 201 | (14 | ) | (6.8 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
187 | 201 | (14 | ) | (6.8 | ) | ||||||||||
Minority interests |
45 | 48 | (3 | ) | (7.1 | ) | ||||||||||
Attributable profit to the Group |
143 | 153 | (10 | ) | (6.7 | ) | ||||||||||
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
|
| |||||||||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
28,702 | 29,112 | (409 | ) | (1.4 | ) | ||||||||||
Trading portfolio (w/o loans) |
17,505 | 16,677 | 828 | 5.0 | ||||||||||||
Available-for-sale financial assets |
5,632 | 4,065 | 1,567 | 38.5 | ||||||||||||
Due from credit institutions ** |
7,918 | 8,447 | (529 | ) | (6.3 | ) | ||||||||||
Intangible assets and property and equipment |
380 | 493 | (114 | ) | (23.0 | ) | ||||||||||
Other assets |
5,498 | 6,323 | (825 | ) | (13.1 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
65,636 | 65,118 | 518 | 0.8 | ||||||||||||
Customer deposits ** |
28,214 | 30,965 | (2,751 | ) | (8.9 | ) | ||||||||||
Marketable debt securities ** |
4,306 | 4,492 | (186 | ) | (4.1 | ) | ||||||||||
Subordinated debt ** |
1,146 | 1,202 | (56 | ) | (4.7 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
11,516 | 9,988 | 1,528 | 15.3 | ||||||||||||
Other liabilities |
15,820 | 13,608 | 2,212 | 16.3 | ||||||||||||
Stockholders equity *** |
4,634 | 4,863 | (228 | ) | (4.7 | ) | ||||||||||
Other managed and marketed customer funds |
11,628 | 13,222 | (1,594 | ) | (12.1 | ) | ||||||||||
Mutual funds |
11,628 | 13,222 | (1,594 | ) | (12.1 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
45,294 | 49,881 | (4,587 | ) | (9.2 | ) |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
Ratios (%) and other data |
| |||||||||||||||
RoTE |
12.95 | 12.99 | (0.05 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
40.7 | 43.4 | (2.72 p. | ) | ||||||||||||
NPL ratio |
3.06 | 3.71 | (0.65 p. | ) | ||||||||||||
Coverage ratio |
97.5 | 88.4 | 9.10 p. | |||||||||||||
Number of employees |
17,869 | 16,973 | 896 | 5.3 | ||||||||||||
Number of branches |
1,386 | 1,350 | 36 | 2.7 |
65
Mexico
|
||||||||||||||||||||
million
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
597 | 621 | 600 | 633 | 594 | |||||||||||||||
Net fees |
194 | 213 | 194 | 199 | 173 | |||||||||||||||
Gains (losses) on financial transactions |
43 | 33 | 26 | 36 | 34 | |||||||||||||||
Other operating income * |
(15 | ) | (14 | ) | (26 | ) | (18 | ) | (9 | ) | ||||||||||
Gross income |
819 | 854 | 794 | 850 | 792 | |||||||||||||||
Operating expenses |
(355 | ) | (353 | ) | (327 | ) | (334 | ) | (322 | ) | ||||||||||
General administrative expenses |
(325 | ) | (322 | ) | (301 | ) | (309 | ) | (293 | ) | ||||||||||
Personnel |
(168 | ) | (173 | ) | (163 | ) | (158 | ) | (152 | ) | ||||||||||
Other general administrative expenses |
(157 | ) | (148 | ) | (138 | ) | (151 | ) | (140 | ) | ||||||||||
Depreciation and amortisation |
(30 | ) | (32 | ) | (26 | ) | (25 | ) | (29 | ) | ||||||||||
Net operating income |
463 | 501 | 467 | 516 | 470 | |||||||||||||||
Net loan-loss provisions |
(211 | ) | (224 | ) | (227 | ) | (215 | ) | (221 | ) | ||||||||||
Other income |
8 | (2 | ) | 1 | (10 | ) | (6 | ) | ||||||||||||
Profit before taxes |
260 | 274 | 241 | 291 | 243 | |||||||||||||||
Tax on profit |
(59 | ) | (61 | ) | (48 | ) | (67 | ) | (55 | ) | ||||||||||
Profit from continuing operations |
201 | 213 | 193 | 224 | 187 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
201 | 213 | 193 | 224 | 187 | |||||||||||||||
Minority interests |
48 | 53 | 50 | 51 | 45 | |||||||||||||||
Attributable profit to the Group |
153 | 160 | 143 | 173 | 143 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
29,112 | 28,609 | 28,198 | 30,158 | 28,702 | |||||||||||||||
Trading portfolio (w/o loans) |
16,677 | 15,391 | 18,448 | 16,949 | 17,505 | |||||||||||||||
Available-for-sale financial assets |
4,065 | 3,986 | 4,939 | 5,972 | 5,632 | |||||||||||||||
Due from credit institutions ** |
8,447 | 7,086 | 7,744 | 5,467 | 7,918 | |||||||||||||||
Intangible assets and property and equipment |
493 | 460 | 363 | 396 | 380 | |||||||||||||||
Other assets |
6,323 | 5,781 | 5,716 | 5,785 | 5,498 | |||||||||||||||
Total assets/liabilities & shareholders equity |
65,118 | 61,312 | 65,408 | 64,728 | 65,636 | |||||||||||||||
Customer deposits ** |
30,965 | 28,747 | 26,540 | 28,274 | 28,214 | |||||||||||||||
Marketable debt securities ** |
4,492 | 4,720 | 4,068 | 4,578 | 4,306 | |||||||||||||||
Subordinated debt ** |
1,202 | 1,181 | 1,159 | 1,205 | 1,146 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
9,988 | 8,473 | 11,794 | 12,884 | 11,516 | |||||||||||||||
Other liabilities |
13,608 | 13,329 | 16,801 | 12,829 | 15,820 | |||||||||||||||
Stockholders equity *** |
4,863 | 4,862 | 5,045 | 4,957 | 4,634 | |||||||||||||||
Other managed and marketed customer funds |
13,222 | 12,557 | 11,631 | 11,477 | 11,628 | |||||||||||||||
Mutual funds |
13,222 | 12,557 | 11,631 | 11,477 | 11,628 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
49,881 | 47,205 | 43,399 | 45,535 | 45,294 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
Other information | ||||||||||||||||||||
NPL ratio |
3.71 | 3.81 | 3.54 | 3.38 | 3.06 | |||||||||||||||
Coverage ratio |
88.4 | 87.5 | 93.0 | 90.6 | 97.5 | |||||||||||||||
Cost of credit |
2.92 | 2.89 | 2.87 | 2.91 | 2.95 |
66
Mexico
|
||||||||||||||||
million (currency-neutral basis)
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
594 | 505 | 89 | 17.6 | ||||||||||||
Net fees |
173 | 164 | 9 | 5.7 | ||||||||||||
Gains (losses) on financial transactions |
34 | 36 | (2 | ) | (5.4 | ) | ||||||||||
Other operating income * |
(9 | ) | (13 | ) | 3 | (25.2 | ) | |||||||||
Gross income |
792 | 693 | 99 | 14.4 | ||||||||||||
Operating expenses |
(322 | ) | (301 | ) | (22 | ) | 7.2 | |||||||||
General administrative expenses |
(293 | ) | (275 | ) | (18 | ) | 6.4 | |||||||||
Personnel |
(152 | ) | (142 | ) | (11 | ) | 7.5 | |||||||||
Other general administrative expenses |
(140 | ) | (133 | ) | (7 | ) | 5.3 | |||||||||
Depreciation and amortisation |
(29 | ) | (25 | ) | (4 | ) | 15.6 | |||||||||
Net operating income |
470 | 392 | 78 | 19.9 | ||||||||||||
Net loan-loss provisions |
(221 | ) | (178 | ) | (43 | ) | 24.1 | |||||||||
Other income |
(6 | ) | 7 | (13 | ) | | ||||||||||
Profit before taxes |
243 | 220 | 22 | 10.1 | ||||||||||||
Tax on profit |
(55 | ) | (50 | ) | (5 | ) | 9.8 | |||||||||
Profit from continuing operations |
187 | 170 | 17 | 10.1 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
187 | 170 | 17 | 10.1 | ||||||||||||
Minority interests |
45 | 41 | 4 | 9.7 | ||||||||||||
Attributable profit to the Group |
143 | 129 | 13 | 10.3 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
28,702 | 24,538 | 4,164 | 17.0 | ||||||||||||
Trading portfolio (w/o loans) |
17,505 | 14,057 | 3,448 | 24.5 | ||||||||||||
Available-for-sale financial assets |
5,632 | 3,427 | 2,206 | 64.4 | ||||||||||||
Due from credit institutions ** |
7,918 | 7,120 | 798 | 11.2 | ||||||||||||
Intangible assets and property and equipment |
380 | 416 | (36 | ) | (8.7 | ) | ||||||||||
Other assets |
5,498 | 5,330 | 168 | 3.2 | ||||||||||||
Total assets/liabilities & shareholders equity |
65,636 | 54,887 | 10,749 | 19.6 | ||||||||||||
Customer deposits ** |
28,214 | 26,100 | 2,114 | 8.1 | ||||||||||||
Marketable debt securities ** |
4,306 | 3,786 | 520 | 13.7 | ||||||||||||
Subordinated debt ** |
1,146 | 1,013 | 133 | 13.1 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
11,516 | 8,419 | 3,097 | 36.8 | ||||||||||||
Other liabilities |
15,820 | 11,470 | 4,350 | 37.9 | ||||||||||||
Stockholders equity *** |
4,634 | 4,099 | 536 | 13.1 | ||||||||||||
Other managed and marketed customer funds |
11,628 | 11,145 | 483 | 4.3 | ||||||||||||
Mutual funds |
11,628 | 11,145 | 483 | 4.3 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
45,294 | 42,044 | 3,250 | 7.7 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
67
Mexico
|
||||||||||||||||||||
million (currency-neutral basis)
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
505 | 528 | 550 | 582 | 594 | |||||||||||||||
Net fees |
164 | 182 | 178 | 183 | 173 | |||||||||||||||
Gains (losses) on financial transactions |
36 | 28 | 25 | 33 | 34 | |||||||||||||||
Other operating income * |
(13 | ) | (12 | ) | (23 | ) | (17 | ) | (9 | ) | ||||||||||
Gross income |
693 | 727 | 730 | 782 | 792 | |||||||||||||||
Operating expenses |
(301 | ) | (301 | ) | (301 | ) | (308 | ) | (322 | ) | ||||||||||
General administrative expenses |
(275 | ) | (274 | ) | (277 | ) | (285 | ) | (293 | ) | ||||||||||
Personnel |
(142 | ) | (148 | ) | (149 | ) | (146 | ) | (152 | ) | ||||||||||
Other general administrative expenses |
(133 | ) | (126 | ) | (127 | ) | (139 | ) | (140 | ) | ||||||||||
Depreciation and amortisation |
(25 | ) | (27 | ) | (24 | ) | (23 | ) | (29 | ) | ||||||||||
Net operating income |
392 | 426 | 429 | 474 | 470 | |||||||||||||||
Net loan-loss provisions |
(178 | ) | (191 | ) | (208 | ) | (198 | ) | (221 | ) | ||||||||||
Other income |
7 | (2 | ) | 1 | (9 | ) | (6 | ) | ||||||||||||
Profit before taxes |
220 | 234 | 222 | 267 | 243 | |||||||||||||||
Tax on profit |
(50 | ) | (52 | ) | (44 | ) | (62 | ) | (55 | ) | ||||||||||
Profit from continuing operations |
170 | 181 | 178 | 205 | 187 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
170 | 181 | 178 | 205 | 187 | |||||||||||||||
Minority interests |
41 | 45 | 46 | 47 | 45 | |||||||||||||||
Attributable profit to the Group |
129 | 136 | 131 | 159 | 143 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
24,538 | 25,605 | 27,315 | 29,118 | 28,702 | |||||||||||||||
Trading portfolio (w/o loans) |
14,057 | 13,774 | 17,870 | 16,364 | 17,505 | |||||||||||||||
Available-for-sale financial assets |
3,427 | 3,567 | 4,784 | 5,766 | 5,632 | |||||||||||||||
Due from credit institutions ** |
7,120 | 6,342 | 7,502 | 5,278 | 7,918 | |||||||||||||||
Intangible assets and property and equipment |
416 | 412 | 352 | 382 | 380 | |||||||||||||||
Other assets |
5,330 | 5,174 | 5,537 | 5,586 | 5,498 | |||||||||||||||
Total assets/liabilities & shareholders equity |
54,887 | 54,874 | 63,360 | 62,495 | 65,636 | |||||||||||||||
Customer deposits ** |
26,100 | 25,729 | 25,709 | 27,299 | 28,214 | |||||||||||||||
Marketable debt securities ** |
3,786 | 4,224 | 3,941 | 4,421 | 4,306 | |||||||||||||||
Subordinated debt ** |
1,013 | 1,057 | 1,123 | 1,163 | 1,146 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
8,419 | 7,584 | 11,425 | 12,439 | 11,516 | |||||||||||||||
Other liabilities |
11,470 | 11,929 | 16,274 | 12,386 | 15,820 | |||||||||||||||
Stockholders equity *** |
4,099 | 4,351 | 4,887 | 4,786 | 4,634 | |||||||||||||||
Other managed and marketed customer funds |
11,145 | 11,239 | 11,267 | 11,081 | 11,628 | |||||||||||||||
Mutual funds |
11,145 | 11,239 | 11,267 | 11,081 | 11,628 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
42,044 | 42,249 | 42,040 | 43,964 | 45,294 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
68
Mexico
|
||||||||||||||||
Million pesos
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
11,808 | 10,041 | 1,767 | 17.6 | ||||||||||||
Net fees |
3,445 | 3,259 | 186 | 5.7 | ||||||||||||
Gains (losses) on financial transactions |
679 | 718 | (39 | ) | (5.4 | ) | ||||||||||
Other operating income * |
(186 | ) | (249 | ) | 63 | (25.2 | ) | |||||||||
Gross income |
15,745 | 13,769 | 1,977 | 14.4 | ||||||||||||
Operating expenses |
(6,402 | ) | (5,973 | ) | (429 | ) | 7.2 | |||||||||
General administrative expenses |
(5,817 | ) | (5,467 | ) | (350 | ) | 6.4 | |||||||||
Personnel |
(3,030 | ) | (2,819 | ) | (210 | ) | 7.5 | |||||||||
Other general administrative expenses |
(2,787 | ) | (2,648 | ) | (140 | ) | 5.3 | |||||||||
Depreciation and amortisation |
(586 | ) | (506 | ) | (79 | ) | 15.6 | |||||||||
Net operating income |
9,343 | 7,795 | 1,548 | 19.9 | ||||||||||||
Net loan-loss provisions |
(4,399 | ) | (3,545 | ) | (854 | ) | 24.1 | |||||||||
Other income |
(123 | ) | 130 | (253 | ) | | ||||||||||
Profit before taxes |
4,821 | 4,380 | 441 | 10.1 | ||||||||||||
Tax on profit |
(1,097 | ) | (999 | ) | (98 | ) | 9.8 | |||||||||
Profit from continuing operations |
3,724 | 3,381 | 343 | 10.1 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
3,724 | 3,381 | 343 | 10.1 | ||||||||||||
Minority interests |
886 | 807 | 79 | 9.7 | ||||||||||||
Attributable profit to the Group |
2,839 | 2,574 | 265 | 10.3 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
562,286 | 480,702 | 81,584 | 17.0 | ||||||||||||
Trading portfolio (w/o loans) |
342,933 | 275,379 | 67,554 | 24.5 | ||||||||||||
Available-for-sale financial assets |
110,338 | 67,130 | 43,208 | 64.4 | ||||||||||||
Due from credit institutions ** |
155,118 | 139,476 | 15,642 | 11.2 | ||||||||||||
Intangible assets and property and equipment |
7,442 | 8,147 | (706 | ) | (8.7 | ) | ||||||||||
Other assets |
107,711 | 104,415 | 3,296 | 3.2 | ||||||||||||
Total assets/liabilities & shareholders equity |
1,285,828 | 1,075,250 | 210,578 | 19.6 | ||||||||||||
Customer deposits ** |
552,715 | 511,307 | 41,408 | 8.1 | ||||||||||||
Marketable debt securities ** |
84,359 | 74,174 | 10,185 | 13.7 | ||||||||||||
Subordinated debt ** |
22,445 | 19,849 | 2,596 | 13.1 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
225,602 | 164,927 | 60,675 | 36.8 | ||||||||||||
Other liabilities |
309,920 | 224,700 | 85,220 | 37.9 | ||||||||||||
Stockholders equity *** |
90,787 | 80,293 | 10,494 | 13.1 | ||||||||||||
Other managed and marketed customer funds |
227,797 | 218,327 | 9,471 | 4.3 | ||||||||||||
Mutual funds |
227,797 | 218,327 | 9,471 | 4.3 | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
887,316 | 823,657 | 63,659 | 7.7 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
69
Mexico
|
||||||||||||||||||||
Million pesos
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
10,041 | 10,504 | 10,939 | 11,578 | 11,808 | |||||||||||||||
Net fees |
3,259 | 3,613 | 3,541 | 3,642 | 3,445 | |||||||||||||||
Gains (losses) on financial transactions |
718 | 564 | 487 | 657 | 679 | |||||||||||||||
Other operating income * |
(249 | ) | (232 | ) | (463 | ) | (329 | ) | (186 | ) | ||||||||||
Gross income |
13,769 | 14,450 | 14,503 | 15,547 | 15,745 | |||||||||||||||
Operating expenses |
(5,973 | ) | (5,978 | ) | (5,978 | ) | (6,131 | ) | (6,402 | ) | ||||||||||
General administrative expenses |
(5,467 | ) | (5,444 | ) | (5,501 | ) | (5,664 | ) | (5,817 | ) | ||||||||||
Personnel |
(2,819 | ) | (2,934 | ) | (2,969 | ) | (2,907 | ) | (3,030 | ) | ||||||||||
Other general administrative expenses |
(2,648 | ) | (2,510 | ) | (2,533 | ) | (2,757 | ) | (2,787 | ) | ||||||||||
Depreciation and amortisation |
(506 | ) | (533 | ) | (476 | ) | (467 | ) | (586 | ) | ||||||||||
Net operating income |
7,795 | 8,472 | 8,526 | 9,416 | 9,343 | |||||||||||||||
Net loan-loss provisions |
(3,545 | ) | (3,791 | ) | (4,131 | ) | (3,939 | ) | (4,399 | ) | ||||||||||
Other income |
130 | (36 | ) | 17 | (174 | ) | (123 | ) | ||||||||||||
Profit before taxes |
4,380 | 4,644 | 4,412 | 5,302 | 4,821 | |||||||||||||||
Tax on profit |
(999 | ) | (1,039 | ) | (882 | ) | (1,223 | ) | (1,097 | ) | ||||||||||
Profit from continuing operations |
3,381 | 3,606 | 3,530 | 4,080 | 3,724 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
3,381 | 3,606 | 3,530 | 4,080 | 3,724 | |||||||||||||||
Minority interests |
807 | 902 | 917 | 925 | 886 | |||||||||||||||
Attributable profit to the Group |
2,574 | 2,704 | 2,613 | 3,155 | 2,839 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
480,702 | 501,609 | 535,103 | 570,433 | 562,286 | |||||||||||||||
Trading portfolio (w/o loans) |
275,379 | 269,846 | 350,088 | 320,576 | 342,933 | |||||||||||||||
Available-for-sale financial assets |
67,130 | 69,887 | 93,721 | 112,964 | 110,338 | |||||||||||||||
Due from credit institutions ** |
139,476 | 124,233 | 146,957 | 103,406 | 155,118 | |||||||||||||||
Intangible assets and property and equipment |
8,147 | 8,071 | 6,886 | 7,488 | 7,442 | |||||||||||||||
Other assets |
104,415 | 101,354 | 108,480 | 109,423 | 107,711 | |||||||||||||||
Total assets/liabilities & shareholders equity |
1,075,250 | 1,075,000 | 1,241,236 | 1,224,289 | 1,285,828 | |||||||||||||||
Customer deposits ** |
511,307 | 504,032 | 503,652 | 534,796 | 552,715 | |||||||||||||||
Marketable debt securities ** |
74,174 | 82,758 | 77,205 | 86,599 | 84,359 | |||||||||||||||
Subordinated debt ** |
19,849 | 20,706 | 22,000 | 22,788 | 22,445 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
164,927 | 148,567 | 223,811 | 243,694 | 225,602 | |||||||||||||||
Other liabilities |
224,700 | 233,697 | 318,821 | 242,651 | 309,920 | |||||||||||||||
Stockholders equity *** |
80,293 | 85,240 | 95,747 | 93,761 | 90,787 | |||||||||||||||
Other managed and marketed customer funds |
218,327 | 220,166 | 220,719 | 217,086 | 227,797 | |||||||||||||||
Mutual funds |
218,327 | 220,166 | 220,719 | 217,086 | 227,797 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
823,657 | 827,662 | 823,577 | 861,269 | 887,316 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
70
Chile
|
||||||||||||||||
million
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
421 | 398 | 23 | 5.8 | ||||||||||||
Net fees |
88 | 87 | 1 | 1.1 | ||||||||||||
Gains (losses) on financial transactions |
48 | 65 | (17 | ) | (26.2 | ) | ||||||||||
Other operating income * |
(0 | ) | 4 | (4 | ) | | ||||||||||
Gross income |
556 | 553 | 3 | 0.5 | ||||||||||||
Operating expenses |
(235 | ) | (238 | ) | 3 | (1.1 | ) | |||||||||
General administrative expenses |
(216 | ) | (219 | ) | 4 | (1.6 | ) | |||||||||
Personnel |
(128 | ) | (128 | ) | (0 | ) | 0.1 | |||||||||
Other general administrative expenses |
(88 | ) | (91 | ) | 4 | (4.0 | ) | |||||||||
Depreciation and amortisation |
(19 | ) | (18 | ) | (1 | ) | 5.5 | |||||||||
Net operating income |
321 | 316 | 5 | 1.7 | ||||||||||||
Net loan-loss provisions |
(109 | ) | (132 | ) | 22 | (17.0 | ) | |||||||||
Other income |
1 | 6 | (5 | ) | (76.5 | ) | ||||||||||
Profit before taxes |
213 | 190 | 23 | 12.1 | ||||||||||||
Tax on profit |
(40 | ) | (43 | ) | 3 | (6.8 | ) | |||||||||
Profit from continuing operations |
173 | 147 | 26 | 17.6 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
173 | 147 | 26 | 17.6 | ||||||||||||
Minority interests |
52 | 41 | 10 | 24.8 | ||||||||||||
Attributable profit to the Group |
122 | 106 | 16 | 14.8 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
33,350 | 34,510 | (1,160 | ) | (3.4 | ) | ||||||||||
Trading portfolio (w/o loans) |
2,793 | 2,940 | (147 | ) | (5.0 | ) | ||||||||||
Available-for-sale financial assets |
3,548 | 2,290 | 1,258 | 54.9 | ||||||||||||
Due from credit institutions ** |
4,307 | 4,599 | (293 | ) | (6.4 | ) | ||||||||||
Intangible assets and property and equipment |
354 | 382 | (28 | ) | (7.4 | ) | ||||||||||
Other assets |
2,536 | 3,564 | (1,028 | ) | (28.8 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
46,888 | 48,285 | (1,397 | ) | (2.9 | ) | ||||||||||
Customer deposits ** |
24,679 | 26,499 | (1,820 | ) | (6.9 | ) | ||||||||||
Marketable debt securities ** |
6,301 | 7,404 | (1,104 | ) | (14.9 | ) | ||||||||||
Subordinated debt ** |
981 | 1,070 | (89 | ) | (8.3 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
6,287 | 4,407 | 1,879 | 42.6 | ||||||||||||
Other liabilities |
5,519 | 5,712 | (193 | ) | (3.4 | ) | ||||||||||
Stockholders equity *** |
3,121 | 3,193 | (71 | ) | (2.2 | ) | ||||||||||
Other managed and marketed customer funds |
7,063 | 7,871 | (808 | ) | (10.3 | ) | ||||||||||
Mutual funds |
5,079 | 5,793 | (714 | ) | (12.3 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
1,984 | 2,078 | (94 | ) | (4.5 | ) | ||||||||||
Managed and marketed customer funds |
39,024 | 42,845 | (3,821 | ) | (8.9 | ) |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
Ratios (%) and other data |
||||||||||||||||
RoTE |
16.43 | 13.95 | 2.48 p. | |||||||||||||
Efficiency ratio (with amortisations) |
42.3 | 42.9 | (0.68 p. | ) | ||||||||||||
NPL ratio |
5.45 | 5.88 | (0.43 p. | ) | ||||||||||||
Coverage ratio |
54.6 | 52.0 | 2.60 p. | |||||||||||||
Number of employees |
12,468 | 12,128 | 340 | 2.8 | ||||||||||||
Number of branches |
471 | 476 | (5 | ) | (1.1 | ) |
71
Chile
|
||||||||||||||||||||
million
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
398 | 498 | 460 | 435 | 421 | |||||||||||||||
Net fees |
87 | 96 | 93 | 84 | 88 | |||||||||||||||
Gains (losses) on financial transactions |
65 | 35 | 51 | 22 | 48 | |||||||||||||||
Other operating income * |
4 | 4 | 2 | 2 | (0 | ) | ||||||||||||||
Gross income |
553 | 633 | 606 | 543 | 556 | |||||||||||||||
Operating expenses |
(238 | ) | (263 | ) | (243 | ) | (260 | ) | (235 | ) | ||||||||||
General administrative expenses |
(219 | ) | (244 | ) | (224 | ) | (239 | ) | (216 | ) | ||||||||||
Personnel |
(128 | ) | (149 | ) | (138 | ) | (153 | ) | (128 | ) | ||||||||||
Other general administrative expenses |
(91 | ) | (95 | ) | (86 | ) | (86 | ) | (88 | ) | ||||||||||
Depreciation and amortisation |
(18 | ) | (19 | ) | (18 | ) | (21 | ) | (19 | ) | ||||||||||
Net operating income |
316 | 370 | 364 | 283 | 321 | |||||||||||||||
Net loan-loss provisions |
(132 | ) | (126 | ) | (153 | ) | (157 | ) | (109 | ) | ||||||||||
Other income |
6 | (3 | ) | (4 | ) | 4 | 1 | |||||||||||||
Profit before taxes |
190 | 241 | 207 | 130 | 213 | |||||||||||||||
Tax on profit |
(43 | ) | (28 | ) | (25 | ) | (17 | ) | (40 | ) | ||||||||||
Profit from continuing operations |
147 | 212 | 182 | 113 | 173 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
147 | 212 | 182 | 113 | 173 | |||||||||||||||
Minority interests |
41 | 65 | 57 | 36 | 52 | |||||||||||||||
Attributable profit to the Group |
106 | 147 | 125 | 78 | 122 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
34,510 | 33,733 | 31,874 | 32,338 | 33,350 | |||||||||||||||
Trading portfolio (w/o loans) |
2,940 | 2,918 | 3,665 | 3,144 | 2,793 | |||||||||||||||
Available-for-sale financial assets |
2,290 | 2,831 | 2,449 | 2,668 | 3,548 | |||||||||||||||
Due from credit institutions ** |
4,599 | 4,020 | 4,489 | 4,579 | 4,307 | |||||||||||||||
Intangible assets and property and equipment |
382 | 371 | 343 | 355 | 354 | |||||||||||||||
Other assets |
3,564 | 2,621 | 2,658 | 2,876 | 2,536 | |||||||||||||||
Total assets/liabilities & shareholders equity |
48,285 | 46,495 | 45,477 | 45,960 | 46,888 | |||||||||||||||
Customer deposits ** |
26,499 | 24,203 | 23,211 | 24,347 | 24,679 | |||||||||||||||
Marketable debt securities ** |
7,404 | 7,441 | 6,743 | 6,504 | 6,301 | |||||||||||||||
Subordinated debt ** |
1,070 | 1,023 | 942 | 963 | 981 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
4,407 | 5,801 | 5,878 | 5,886 | 6,287 | |||||||||||||||
Other liabilities |
5,712 | 5,128 | 5,843 | 5,280 | 5,519 | |||||||||||||||
Stockholders equity *** |
3,193 | 2,898 | 2,860 | 2,980 | 3,121 | |||||||||||||||
Other managed and marketed customer funds |
7,871 | 7,792 | 7,307 | 7,370 | 7,063 | |||||||||||||||
Mutual funds |
5,793 | 5,786 | 5,463 | 5,422 | 5,079 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
2,078 | 2,006 | 1,845 | 1,948 | 1,984 | |||||||||||||||
Managed and marketed customer funds |
42,845 | 40,459 | 38,204 | 39,184 | 39,024 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
Other information | ||||||||||||||||||||
NPL ratio |
5.88 | 5.73 | 5.60 | 5.62 | 5.45 | |||||||||||||||
Coverage ratio |
52.0 | 51.6 | 52.8 | 53.9 | 54.6 | |||||||||||||||
Cost of credit |
1.74 | 1.68 | 1.68 | 1.65 | 1.58 |
72
Chile
|
||||||||||||||||
million (currency-neutral basis)
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
421 | 362 | 59 | 16.3 | ||||||||||||
Net fees |
88 | 79 | 9 | 11.2 | ||||||||||||
Gains (losses) on financial transactions |
48 | 59 | (11 | ) | (18.9 | ) | ||||||||||
Other operating income * |
(0 | ) | 3 | (4 | ) | | ||||||||||
Gross income |
556 | 503 | 53 | 10.5 | ||||||||||||
Operating expenses |
(235 | ) | (216 | ) | (19 | ) | 8.8 | |||||||||
General administrative expenses |
(216 | ) | (199 | ) | (16 | ) | 8.2 | |||||||||
Personnel |
(128 | ) | (116 | ) | (12 | ) | 10.0 | |||||||||
Other general administrative expenses |
(88 | ) | (83 | ) | (5 | ) | 5.5 | |||||||||
Depreciation and amortisation |
(19 | ) | (17 | ) | (3 | ) | 15.9 | |||||||||
Net operating income |
321 | 287 | 34 | 11.8 | ||||||||||||
Net loan-loss provisions |
(109 | ) | (120 | ) | 10 | (8.7 | ) | |||||||||
Other income |
1 | 6 | (4 | ) | (74.2 | ) | ||||||||||
Profit before taxes |
213 | 173 | 40 | 23.2 | ||||||||||||
Tax on profit |
(40 | ) | (39 | ) | (1 | ) | 2.5 | |||||||||
Profit from continuing operations |
173 | 134 | 39 | 29.3 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
173 | 134 | 39 | 29.3 | ||||||||||||
Minority interests |
52 | 38 | 14 | 37.2 | ||||||||||||
Attributable profit to the Group |
122 | 96 | 25 | 26.2 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
33,350 | 30,572 | 2,778 | 9.1 | ||||||||||||
Trading portfolio (w/o loans) |
2,793 | 2,604 | 188 | 7.2 | ||||||||||||
Available-for-sale financial assets |
3,548 | 2,028 | 1,519 | 74.9 | ||||||||||||
Due from credit institutions ** |
4,307 | 4,075 | 232 | 5.7 | ||||||||||||
Intangible assets and property and equipment |
354 | 339 | 15 | 4.5 | ||||||||||||
Other assets |
2,536 | 3,157 | (621 | ) | (19.7 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
46,888 | 42,775 | 4,113 | 9.6 | ||||||||||||
Customer deposits ** |
24,679 | 23,475 | 1,204 | 5.1 | ||||||||||||
Marketable debt securities ** |
6,301 | 6,559 | (259 | ) | (3.9 | ) | ||||||||||
Subordinated debt ** |
981 | 948 | 33 | 3.5 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
6,287 | 3,904 | 2,382 | 61.0 | ||||||||||||
Other liabilities |
5,519 | 5,060 | 459 | 9.1 | ||||||||||||
Stockholders equity *** |
3,121 | 2,828 | 293 | 10.4 | ||||||||||||
Other managed and marketed customer funds |
7,063 | 6,973 | 90 | 1.3 | ||||||||||||
Mutual funds |
5,079 | 5,132 | (53 | ) | (1.0 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
1,984 | 1,841 | 143 | 7.8 | ||||||||||||
Managed and marketed customer funds |
39,024 | 37,955 | 1,068 | 2.8 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
73
Chile
|
||||||||||||||||||||
million (currency-neutral basis)
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
362 | 441 | 446 | 430 | 421 | |||||||||||||||
Net fees |
79 | 85 | 90 | 83 | 88 | |||||||||||||||
Gains (losses) on financial transactions |
59 | 31 | 49 | 23 | 48 | |||||||||||||||
Other operating income * |
3 | 4 | 2 | 2 | (0 | ) | ||||||||||||||
Gross income |
503 | 560 | 587 | 538 | 556 | |||||||||||||||
Operating expenses |
(216 | ) | (233 | ) | (236 | ) | (256 | ) | (235 | ) | ||||||||||
General administrative expenses |
(199 | ) | (216 | ) | (218 | ) | (235 | ) | (216 | ) | ||||||||||
Personnel |
(116 | ) | (132 | ) | (134 | ) | (150 | ) | (128 | ) | ||||||||||
Other general administrative expenses |
(83 | ) | (84 | ) | (84 | ) | (85 | ) | (88 | ) | ||||||||||
Depreciation and amortisation |
(17 | ) | (17 | ) | (18 | ) | (21 | ) | (19 | ) | ||||||||||
Net operating income |
287 | 327 | 352 | 282 | 321 | |||||||||||||||
Net loan-loss provisions |
(120 | ) | (111 | ) | (147 | ) | (153 | ) | (109 | ) | ||||||||||
Other income |
6 | (3 | ) | (4 | ) | 4 | 1 | |||||||||||||
Profit before taxes |
173 | 213 | 201 | 133 | 213 | |||||||||||||||
Tax on profit |
(39 | ) | (25 | ) | (25 | ) | (18 | ) | (40 | ) | ||||||||||
Profit from continuing operations |
134 | 188 | 176 | 115 | 173 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
134 | 188 | 176 | 115 | 173 | |||||||||||||||
Minority interests |
38 | 58 | 55 | 36 | 52 | |||||||||||||||
Attributable profit to the Group |
96 | 130 | 121 | 79 | 122 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
30,572 | 31,604 | 32,790 | 32,797 | 33,350 | |||||||||||||||
Trading portfolio (w/o loans) |
2,604 | 2,734 | 3,770 | 3,189 | 2,793 | |||||||||||||||
Available-for-sale financial assets |
2,028 | 2,652 | 2,520 | 2,706 | 3,548 | |||||||||||||||
Due from credit institutions ** |
4,075 | 3,767 | 4,619 | 4,644 | 4,307 | |||||||||||||||
Intangible assets and property and equipment |
339 | 348 | 352 | 360 | 354 | |||||||||||||||
Other assets |
3,157 | 2,456 | 2,734 | 2,916 | 2,536 | |||||||||||||||
Total assets/liabilities & shareholders equity |
42,775 | 43,561 | 46,785 | 46,613 | 46,888 | |||||||||||||||
Customer deposits ** |
23,475 | 22,675 | 23,879 | 24,693 | 24,679 | |||||||||||||||
Marketable debt securities ** |
6,559 | 6,972 | 6,937 | 6,596 | 6,301 | |||||||||||||||
Subordinated debt ** |
948 | 958 | 969 | 977 | 981 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
3,904 | 5,435 | 6,047 | 5,970 | 6,287 | |||||||||||||||
Other liabilities |
5,060 | 4,805 | 6,011 | 5,355 | 5,519 | |||||||||||||||
Stockholders equity *** |
2,828 | 2,715 | 2,943 | 3,022 | 3,121 | |||||||||||||||
Other managed and marketed customer funds |
6,973 | 7,301 | 7,518 | 7,475 | 7,063 | |||||||||||||||
Mutual funds |
5,132 | 5,421 | 5,620 | 5,499 | 5,079 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
1,841 | 1,879 | 1,898 | 1,976 | 1,984 | |||||||||||||||
Managed and marketed customer funds |
37,955 | 37,906 | 39,302 | 39,740 | 39,024 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
74
Chile
|
||||||||||||||||
Ch$ million
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
325,329 | 279,722 | 45,607 | 16.3 | ||||||||||||
Net fees |
67,614 | 60,830 | 6,784 | 11.2 | ||||||||||||
Gains (losses) on financial transactions |
37,034 | 45,671 | (8,636 | ) | (18.9 | ) | ||||||||||
Other operating income * |
(294 | ) | 2,611 | (2,905 | ) | | ||||||||||
Gross income |
429,684 | 388,834 | 40,850 | 10.5 | ||||||||||||
Operating expenses |
(181,590 | ) | (166,957 | ) | (14,633 | ) | 8.8 | |||||||||
General administrative expenses |
(166,585 | ) | (154,015 | ) | (12,570 | ) | 8.2 | |||||||||
Personnel |
(98,758 | ) | (89,753 | ) | (9,005 | ) | 10.0 | |||||||||
Other general administrative expenses |
(67,827 | ) | (64,262 | ) | (3,565 | ) | 5.5 | |||||||||
Depreciation and amortisation |
(15,005 | ) | (12,942 | ) | (2,063 | ) | 15.9 | |||||||||
Net operating income |
248,094 | 221,876 | 26,217 | 11.8 | ||||||||||||
Net loan-loss provisions |
(84,383 | ) | (92,461 | ) | 8,079 | (8.7 | ) | |||||||||
Other income |
1,122 | 4,340 | (3,218 | ) | (74.2 | ) | ||||||||||
Profit before taxes |
164,833 | 133,755 | 31,078 | 23.2 | ||||||||||||
Tax on profit |
(31,008 | ) | (30,251 | ) | (758 | ) | 2.5 | |||||||||
Profit from continuing operations |
133,824 | 103,504 | 30,320 | 29.3 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
133,824 | 103,504 | 30,320 | 29.3 | ||||||||||||
Minority interests |
39,853 | 29,047 | 10,806 | 37.2 | ||||||||||||
Attributable profit to the Group |
93,971 | 74,457 | 19,514 | 26.2 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
25,444,315 | 23,324,691 | 2,119,625 | 9.1 | ||||||||||||
Trading portfolio (w/o loans) |
2,130,701 | 1,986,953 | 143,748 | 7.2 | ||||||||||||
Available-for-sale financial assets |
2,706,681 | 1,547,496 | 1,159,186 | 74.9 | ||||||||||||
Due from credit institutions ** |
3,285,874 | 3,108,653 | 177,222 | 5.7 | ||||||||||||
Intangible assets and property and equipment |
270,191 | 258,454 | 11,738 | 4.5 | ||||||||||||
Other assets |
1,935,072 | 2,408,832 | (473,760 | ) | (19.7 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
35,772,836 | 32,635,077 | 3,137,759 | 9.6 | ||||||||||||
Customer deposits ** |
18,828,541 | 17,910,204 | 918,337 | 5.1 | ||||||||||||
Marketable debt securities ** |
4,807,083 | 5,004,370 | (197,287 | ) | (3.9 | ) | ||||||||||
Subordinated debt ** |
748,540 | 723,272 | 25,268 | 3.5 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
4,796,453 | 2,978,870 | 1,817,583 | 61.0 | ||||||||||||
Other liabilities |
4,210,734 | 3,860,523 | 350,212 | 9.1 | ||||||||||||
Stockholders equity *** |
2,381,484 | 2,157,838 | 223,646 | 10.4 | ||||||||||||
Other managed and marketed customer funds |
5,388,674 | 5,319,970 | 68,705 | 1.3 | ||||||||||||
Mutual funds |
3,874,931 | 3,915,566 | (40,636 | ) | (1.0 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
1,513,743 | 1,404,403 | 109,340 | 7.8 | ||||||||||||
Managed and marketed customer funds |
29,772,839 | 28,957,816 | 815,023 | 2.8 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
75
Chile
|
||||||||||||||||||||
Ch$ million
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
279,722 | 340,367 | 344,624 | 332,114 | 325,329 | |||||||||||||||
Net fees |
60,830 | 65,361 | 69,741 | 64,409 | 67,614 | |||||||||||||||
Gains (losses) on financial transactions |
45,671 | 23,778 | 37,877 | 18,089 | 37,034 | |||||||||||||||
Other operating income * |
2,611 | 2,980 | 1,560 | 1,282 | (294 | ) | ||||||||||||||
Gross income |
388,834 | 432,486 | 453,802 | 415,894 | 429,684 | |||||||||||||||
Operating expenses |
(166,957 | ) | (179,795 | ) | (182,136 | ) | (197,668 | ) | (181,590 | ) | ||||||||||
General administrative expenses |
(154,015 | ) | (166,696 | ) | (168,334 | ) | (181,632 | ) | (166,585 | ) | ||||||||||
Personnel |
(89,753 | ) | (102,044 | ) | (103,697 | ) | (115,785 | ) | (98,758 | ) | ||||||||||
Other general administrative expenses |
(64,262 | ) | (64,652 | ) | (64,637 | ) | (65,847 | ) | (67,827 | ) | ||||||||||
Depreciation and amortisation |
(12,942 | ) | (13,099 | ) | (13,802 | ) | (16,037 | ) | (15,005 | ) | ||||||||||
Net operating income |
221,876 | 252,691 | 271,667 | 218,226 | 248,094 | |||||||||||||||
Net loan-loss provisions |
(92,461 | ) | (85,988 | ) | (113,450 | ) | (118,563 | ) | (84,383 | ) | ||||||||||
Other income |
4,340 | (2,008 | ) | (2,938 | ) | 2,841 | 1,122 | |||||||||||||
Profit before taxes |
133,755 | 164,694 | 155,280 | 102,503 | 164,833 | |||||||||||||||
Tax on profit |
(30,251 | ) | (19,172 | ) | (19,205 | ) | (13,616 | ) | (31,008 | ) | ||||||||||
Profit from continuing operations |
103,504 | 145,523 | 136,074 | 88,887 | 133,824 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
103,504 | 145,523 | 136,074 | 88,887 | 133,824 | |||||||||||||||
Minority interests |
29,047 | 44,798 | 42,529 | 27,838 | 39,853 | |||||||||||||||
Attributable profit to the Group |
74,457 | 100,724 | 93,545 | 61,049 | 93,971 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
23,324,691 | 24,112,256 | 25,017,101 | 25,022,327 | 25,444,315 | |||||||||||||||
Trading portfolio (w/o loans) |
1,986,953 | 2,085,549 | 2,876,402 | 2,432,810 | 2,130,701 | |||||||||||||||
Available-for-sale financial assets |
1,547,496 | 2,023,435 | 1,922,237 | 2,064,389 | 2,706,681 | |||||||||||||||
Due from credit institutions ** |
3,108,653 | 2,873,800 | 3,523,682 | 3,543,335 | 3,285,874 | |||||||||||||||
Intangible assets and property and equipment |
258,454 | 265,481 | 268,891 | 274,935 | 270,191 | |||||||||||||||
Other assets |
2,408,832 | 1,873,698 | 2,086,139 | 2,225,011 | 1,935,072 | |||||||||||||||
Total assets/liabilities & shareholders equity |
32,635,077 | 33,234,218 | 35,694,451 | 35,562,808 | 35,772,836 | |||||||||||||||
Customer deposits ** |
17,910,204 | 17,299,950 | 18,218,198 | 18,839,110 | 18,828,541 | |||||||||||||||
Marketable debt securities ** |
5,004,370 | 5,318,871 | 5,292,185 | 5,032,677 | 4,807,083 | |||||||||||||||
Subordinated debt ** |
723,272 | 731,276 | 739,433 | 745,019 | 748,540 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
2,978,870 | 4,146,852 | 4,613,855 | 4,554,756 | 4,796,453 | |||||||||||||||
Other liabilities |
3,860,523 | 3,665,635 | 4,585,752 | 4,085,568 | 4,210,734 | |||||||||||||||
Stockholders equity *** |
2,157,838 | 2,071,635 | 2,245,028 | 2,305,677 | 2,381,484 | |||||||||||||||
Other managed and marketed customer funds |
5,319,970 | 5,569,920 | 5,735,494 | 5,702,734 | 5,388,674 | |||||||||||||||
Mutual funds |
3,915,566 | 4,136,125 | 4,287,513 | 4,195,375 | 3,874,931 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
1,404,403 | 1,433,795 | 1,447,981 | 1,507,358 | 1,513,743 | |||||||||||||||
Managed and marketed customer funds |
28,957,816 | 28,920,017 | 29,985,311 | 30,319,540 | 29,772,839 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
76
USA
|
||||||||||||||||
million
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,548 | 1,463 | 85 | 5.8 | ||||||||||||
Net fees |
283 | 262 | 22 | 8.2 | ||||||||||||
Gains (losses) on financial transactions |
20 | 51 | (31 | ) | (59.9 | ) | ||||||||||
Other operating income * |
116 | 92 | 24 | 26.7 | ||||||||||||
Gross income |
1,968 | 1,868 | 100 | 5.4 | ||||||||||||
Operating expenses |
(777 | ) | (696 | ) | (81 | ) | 11.7 | |||||||||
General administrative expenses |
(703 | ) | (635 | ) | (67 | ) | 10.6 | |||||||||
Personnel |
(416 | ) | (363 | ) | (53 | ) | 14.5 | |||||||||
Other general administrative expenses |
(287 | ) | (272 | ) | (15 | ) | 5.5 | |||||||||
Depreciation and amortisation |
(74 | ) | (60 | ) | (14 | ) | 22.7 | |||||||||
Net operating income |
1,191 | 1,172 | 19 | 1.6 | ||||||||||||
Net loan-loss provisions |
(861 | ) | (639 | ) | (222 | ) | 34.8 | |||||||||
Other income |
(66 | ) | (18 | ) | (47 | ) | 255.5 | |||||||||
Profit before taxes |
264 | 514 | (250 | ) | (48.7 | ) | ||||||||||
Tax on profit |
(103 | ) | (158 | ) | 54 | (34.5 | ) | |||||||||
Profit from continuing operations |
160 | 356 | (196 | ) | (55.0 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
160 | 356 | (196 | ) | (55.0 | ) | ||||||||||
Minority interests |
79 | 100 | (21 | ) | (21.0 | ) | ||||||||||
Attributable profit to the Group |
82 | 257 | (175 | ) | (68.2 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
80,836 | 82,418 | (1,582 | ) | (1.9 | ) | ||||||||||
Trading portfolio (w/o loans) |
2,366 | 1,524 | 842 | 55.3 | ||||||||||||
Available-for-sale financial assets |
18,227 | 16,549 | 1,679 | 10.1 | ||||||||||||
Due from credit institutions ** |
4,604 | 4,663 | (59 | ) | (1.3 | ) | ||||||||||
Intangible assets and property and equipment |
9,254 | 7,975 | 1,279 | 16.0 | ||||||||||||
Other assets |
20,581 | 9,660 | 10,921 | 113.0 | ||||||||||||
Total assets/liabilities & shareholders equity |
135,868 | 122,788 | 13,080 | 10.7 | ||||||||||||
Customer deposits ** |
59,526 | 60,162 | (635 | ) | (1.1 | ) | ||||||||||
Marketable debt securities ** |
21,528 | 19,221 | 2,307 | 12.0 | ||||||||||||
Subordinated debt ** |
885 | 918 | (33 | ) | (3.6 | ) | ||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
32,039 | 23,770 | 8,269 | 34.8 | ||||||||||||
Other liabilities |
8,720 | 7,605 | 1,115 | 14.7 | ||||||||||||
Stockholders equity *** |
13,170 | 11,113 | 2,057 | 18.5 | ||||||||||||
Other managed and marketed customer funds |
18,293 | 22,613 | (4,319 | ) | (19.1 | ) | ||||||||||
Mutual funds |
6,813 | 8,536 | (1,723 | ) | (20.2 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
11,481 | 14,077 | (2,596 | ) | (18.4 | ) | ||||||||||
Managed and marketed customer funds**** |
82,288 | 86,077 | (3,790 | ) | (4.4 | ) |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
Ratios (%) and other data | ||||||||||||||||
RoTE |
2.70 | 9.83 | (7.13 p. | ) | ||||||||||||
Efficiency ratio (with amortisations) |
39.5 | 37.3 | 2.23 p. | |||||||||||||
NPL ratio |
2.19 | 2.20 | (0.01 p. | ) | ||||||||||||
Coverage ratio |
221.1 | 211.5 | 9.60 p. | |||||||||||||
Number of employees |
18,229 | 16,918 | 1,311 | 7.7 | ||||||||||||
Number of branches |
773 | 804 | (31 | ) | (3.9 | ) |
77
USA
|
||||||||||||||||||||
million
|
||||||||||||||||||||
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,463 | 1,549 | 1,550 | 1,554 | 1,548 | |||||||||||||||
Net fees |
262 | 271 | 266 | 286 | 283 | |||||||||||||||
Gains (losses) on financial transactions |
51 | 103 | 39 | 37 | 20 | |||||||||||||||
Other operating income * |
92 | 77 | 96 | 102 | 116 | |||||||||||||||
Gross income |
1,868 | 2,000 | 1,952 | 1,979 | 1,968 | |||||||||||||||
Operating expenses |
(696 | ) | (729 | ) | (772 | ) | (827 | ) | (777 | ) | ||||||||||
General administrative expenses |
(635 | ) | (663 | ) | (708 | ) | (754 | ) | (703 | ) | ||||||||||
Personnel |
(363 | ) | (379 | ) | (388 | ) | (413 | ) | (416 | ) | ||||||||||
Other general administrative expenses |
(272 | ) | (284 | ) | (320 | ) | (342 | ) | (287 | ) | ||||||||||
Depreciation and amortisation |
(60 | ) | (66 | ) | (64 | ) | (73 | ) | (74 | ) | ||||||||||
Net operating income |
1,172 | 1,271 | 1,180 | 1,152 | 1,191 | |||||||||||||||
Net loan-loss provisions |
(639 | ) | (754 | ) | (750 | ) | (959 | ) | (861 | ) | ||||||||||
Other income |
(18 | ) | (42 | ) | (37 | ) | (51 | ) | (66 | ) | ||||||||||
Profit before taxes |
514 | 475 | 393 | 142 | 264 | |||||||||||||||
Tax on profit |
(158 | ) | (158 | ) | (129 | ) | (72 | ) | (103 | ) | ||||||||||
Profit from continuing operations |
356 | 317 | 264 | 69 | 160 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
356 | 317 | 264 | 69 | 160 | |||||||||||||||
Minority interests |
100 | 100 | 78 | 51 | 79 | |||||||||||||||
Attributable profit to the Group |
257 | 217 | 186 | 18 | 82 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
82,418 | 79,652 | 80,789 | 84,190 | 80,836 | |||||||||||||||
Trading portfolio (w/o loans) |
1,524 | 1,676 | 1,248 | 2,299 | 2,366 | |||||||||||||||
Available-for-sale financial assets |
16,549 | 16,783 | 18,446 | 19,145 | 18,227 | |||||||||||||||
Due from credit institutions ** |
4,663 | 4,969 | 4,305 | 3,901 | 4,604 | |||||||||||||||
Intangible assets and property and equipment |
7,975 | 7,899 | 8,585 | 9,156 | 9,254 | |||||||||||||||
Other assets |
9,660 | 10,086 | 12,065 | 11,892 | 20,581 | |||||||||||||||
Total assets/liabilities & shareholders equity |
122,788 | 121,064 | 125,438 | 130,584 | 135,868 | |||||||||||||||
Customer deposits ** |
60,162 | 58,133 | 58,970 | 60,115 | 59,526 | |||||||||||||||
Marketable debt securities ** |
19,221 | 20,942 | 21,552 | 23,000 | 21,528 | |||||||||||||||
Subordinated debt ** |
918 | 872 | 891 | 906 | 885 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
23,770 | 21,584 | 25,138 | 26,169 | 32,039 | |||||||||||||||
Other liabilities |
7,605 | 8,397 | 7,571 | 9,073 | 8,720 | |||||||||||||||
Stockholders equity *** |
11,113 | 11,136 | 11,315 | 11,321 | 13,170 | |||||||||||||||
Other managed and marketed customer funds |
22,613 | 20,942 | 19,980 | 19,478 | 18,293 | |||||||||||||||
Mutual funds |
8,536 | 7,707 | 7,317 | 7,123 | 6,813 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
14,077 | 13,235 | 12,663 | 12,355 | 11,481 | |||||||||||||||
Managed and marketed customer funds**** |
86,077 | 83,078 | 83,427 | 84,238 | 82,288 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
Other information | ||||||||||||||||||||
NPL ratio |
2.20 | 2.20 | 2.20 | 2.13 | 2.19 | |||||||||||||||
Coverage ratio |
211.5 | 224.2 | 218.3 | 225.0 | 221.1 | |||||||||||||||
Cost of credit |
3.25 | 3.39 | 3.36 | 3.66 | 3.85 |
78
USA
|
||||||||||||||||
million (currency-neutral basis)
|
||||||||||||||||
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,548 | 1,494 | 54 | 3.6 | ||||||||||||
Net fees |
283 | 267 | 16 | 6.0 | ||||||||||||
Gains (losses) on financial transactions |
20 | 52 | (32 | ) | (60.8 | ) | ||||||||||
Other operating income * |
116 | 93 | 23 | 24.1 | ||||||||||||
Gross income |
1,968 | 1,906 | 61 | 3.2 | ||||||||||||
Operating expenses |
(777 | ) | (710 | ) | (67 | ) | 9.4 | |||||||||
General administrative expenses |
(703 | ) | (649 | ) | (54 | ) | 8.4 | |||||||||
Personnel |
(416 | ) | (371 | ) | (45 | ) | 12.2 | |||||||||
Other general administrative expenses |
(287 | ) | (278 | ) | (9 | ) | 3.3 | |||||||||
Depreciation and amortisation |
(74 | ) | (62 | ) | (12 | ) | 20.2 | |||||||||
Net operating income |
1,191 | 1,196 | (5 | ) | (0.5 | ) | ||||||||||
Net loan-loss provisions |
(861 | ) | (652 | ) | (209 | ) | 32.0 | |||||||||
Other income |
(66 | ) | (19 | ) | (47 | ) | 248.3 | |||||||||
Profit before taxes |
264 | 525 | (261 | ) | (49.7 | ) | ||||||||||
Tax on profit |
(103 | ) | (161 | ) | 58 | (35.8 | ) | |||||||||
Profit from continuing operations |
160 | 364 | (203 | ) | (55.9 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
160 | 364 | (203 | ) | (55.9 | ) | ||||||||||
Minority interests |
79 | 102 | (23 | ) | (22.6 | ) | ||||||||||
Attributable profit to the Group |
82 | 262 | (180 | ) | (68.8 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
80,836 | 77,886 | 2,950 | 3.8 | ||||||||||||
Trading portfolio (w/o loans) |
2,366 | 1,440 | 926 | 64.3 | ||||||||||||
Available-for-sale financial assets |
18,227 | 15,639 | 2,589 | 16.6 | ||||||||||||
Due from credit institutions ** |
4,604 | 4,406 | 197 | 4.5 | ||||||||||||
Intangible assets and property and equipment |
9,254 | 7,536 | 1,718 | 22.8 | ||||||||||||
Other assets |
20,581 | 9,129 | 11,452 | 125.4 | ||||||||||||
Total assets/liabilities & shareholders equity |
135,868 | 116,037 | 19,831 | 17.1 | ||||||||||||
Customer deposits ** |
59,526 | 56,854 | 2,673 | 4.7 | ||||||||||||
Marketable debt securities ** |
21,528 | 18,164 | 3,364 | 18.5 | ||||||||||||
Subordinated debt ** |
885 | 868 | 17 | 2.0 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
32,039 | 22,463 | 9,576 | 42.6 | ||||||||||||
Other liabilities |
8,720 | 7,187 | 1,533 | 21.3 | ||||||||||||
Stockholders equity *** |
13,170 | 10,502 | 2,668 | 25.4 | ||||||||||||
Other managed and marketed customer funds |
18,293 | 21,369 | (3,076 | ) | (14.4 | ) | ||||||||||
Mutual funds |
6,813 | 8,066 | (1,254 | ) | (15.5 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
11,481 | 13,303 | (1,822 | ) | (13.7 | ) | ||||||||||
Managed and marketed customer funds**** |
82,288 | 81,344 | 943 | 1.2 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
79
USA
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,494 | 1,553 | 1,563 | 1,543 | 1,548 | |||||||||||||||
Net fees |
267 | 272 | 269 | 285 | 283 | |||||||||||||||
Gains (losses) on financial transactions |
52 | 104 | 39 | 36 | 20 | |||||||||||||||
Other operating income * |
93 | 77 | 97 | 102 | 116 | |||||||||||||||
Gross income |
1,906 | 2,005 | 1,969 | 1,966 | 1,968 | |||||||||||||||
Operating expenses |
(710 | ) | (731 | ) | (779 | ) | (823 | ) | (777 | ) | ||||||||||
General administrative expenses |
(649 | ) | (665 | ) | (714 | ) | (750 | ) | (703 | ) | ||||||||||
Personnel |
(371 | ) | (380 | ) | (391 | ) | (410 | ) | (416 | ) | ||||||||||
Other general administrative expenses |
(278 | ) | (285 | ) | (323 | ) | (340 | ) | (287 | ) | ||||||||||
Depreciation and amortisation |
(62 | ) | (66 | ) | (65 | ) | (73 | ) | (74 | ) | ||||||||||
Net operating income |
1,196 | 1,274 | 1,190 | 1,143 | 1,191 | |||||||||||||||
Net loan-loss provisions |
(652 | ) | (757 | ) | (757 | ) | (956 | ) | (861 | ) | ||||||||||
Other income |
(19 | ) | (42 | ) | (37 | ) | (51 | ) | (66 | ) | ||||||||||
Profit before taxes |
525 | 475 | 396 | 136 | 264 | |||||||||||||||
Tax on profit |
(161 | ) | (158 | ) | (130 | ) | (71 | ) | (103 | ) | ||||||||||
Profit from continuing operations |
364 | 317 | 266 | 66 | 160 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
364 | 317 | 266 | 66 | 160 | |||||||||||||||
Minority interests |
102 | 101 | 78 | 50 | 79 | |||||||||||||||
Attributable profit to the Group |
262 | 217 | 188 | 15 | 82 |
(*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
77,886 | 78,280 | 79,498 | 80,508 | 80,836 | |||||||||||||||
Trading portfolio (w/o loans) |
1,440 | 1,647 | 1,228 | 2,199 | 2,366 | |||||||||||||||
Available-for-sale financial assets |
15,639 | 16,494 | 18,151 | 18,308 | 18,227 | |||||||||||||||
Due from credit institutions ** |
4,406 | 4,883 | 4,236 | 3,731 | 4,604 | |||||||||||||||
Intangible assets and property and equipment |
7,536 | 7,763 | 8,448 | 8,756 | 9,254 | |||||||||||||||
Other assets |
9,129 | 9,912 | 11,872 | 11,372 | 20,581 | |||||||||||||||
Total assets/liabilities & shareholders equity |
116,037 | 118,979 | 123,433 | 124,872 | 135,868 | |||||||||||||||
Customer deposits ** |
56,854 | 57,132 | 58,027 | 57,485 | 59,526 | |||||||||||||||
Marketable debt securities ** |
18,164 | 20,581 | 21,208 | 21,994 | 21,528 | |||||||||||||||
Subordinated debt ** |
868 | 857 | 877 | 866 | 885 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
22,463 | 21,212 | 24,737 | 25,025 | 32,039 | |||||||||||||||
Other liabilities |
7,187 | 8,252 | 7,450 | 8,677 | 8,720 | |||||||||||||||
Stockholders equity *** |
10,502 | 10,945 | 11,134 | 10,826 | 13,170 | |||||||||||||||
Other managed and marketed customer funds |
21,369 | 20,581 | 19,661 | 18,626 | 18,293 | |||||||||||||||
Mutual funds |
8,066 | 7,574 | 7,200 | 6,812 | 6,813 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
13,303 | 13,007 | 12,461 | 11,814 | 11,481 | |||||||||||||||
Managed and marketed customer funds**** |
81,344 | 81,648 | 82,093 | 80,554 | 82,288 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
80
USA
US$ million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
1,706 | 1,646 | 60 | 3.6 | ||||||||||||
Net fees |
312 | 294 | 18 | 6.0 | ||||||||||||
Gains (losses) on financial transactions |
23 | 58 | (35 | ) | (60.8 | ) | ||||||||||
Other operating income * |
128 | 103 | 25 | 24.1 | ||||||||||||
Gross income |
2,168 | 2,101 | 68 | 3.2 | ||||||||||||
Operating expenses |
(856 | ) | (783 | ) | (73 | ) | 9.4 | |||||||||
General administrative expenses |
(775 | ) | (715 | ) | (60 | ) | 8.4 | |||||||||
Personnel |
(458 | ) | (408 | ) | (50 | ) | 12.2 | |||||||||
Other general administrative expenses |
(317 | ) | (306 | ) | (10 | ) | 3.3 | |||||||||
Depreciation and amortisation |
(82 | ) | (68 | ) | (14 | ) | 20.2 | |||||||||
Net operating income |
1,312 | 1,318 | (6 | ) | (0.5 | ) | ||||||||||
Net loan-loss provisions |
(949 | ) | (719 | ) | (230 | ) | 32.0 | |||||||||
Other income |
(72 | ) | (21 | ) | (52 | ) | 248.3 | |||||||||
Profit before taxes |
291 | 579 | (288 | ) | (49.7 | ) | ||||||||||
Tax on profit |
(114 | ) | (178 | ) | 64 | (35.8 | ) | |||||||||
Profit from continuing operations |
177 | 401 | (224 | ) | (55.9 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
177 | 401 | (224 | ) | (55.9 | ) | ||||||||||
Minority interests |
87 | 112 | (25 | ) | (22.6 | ) | ||||||||||
Attributable profit to the Group |
90 | 289 | (199 | ) | (68.8 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Customer loans ** |
92,031 | 88,673 | 3,358 | 3.8 | ||||||||||||
Trading portfolio (w/o loans) |
2,694 | 1,640 | 1,054 | 64.3 | ||||||||||||
Available-for-sale financial assets |
20,752 | 17,805 | 2,947 | 16.6 | ||||||||||||
Due from credit institutions ** |
5,242 | 5,017 | 225 | 4.5 | ||||||||||||
Intangible assets and property and equipment |
10,536 | 8,580 | 1,956 | 22.8 | ||||||||||||
Other assets |
23,431 | 10,393 | 13,038 | 125.4 | ||||||||||||
Total assets/liabilities & shareholders equity |
154,686 | 132,108 | 22,578 | 17.1 | ||||||||||||
Customer deposits ** |
67,771 | 64,728 | 3,043 | 4.7 | ||||||||||||
Marketable debt securities ** |
24,509 | 20,680 | 3,830 | 18.5 | ||||||||||||
Subordinated debt ** |
1,008 | 988 | 20 | 2.0 | ||||||||||||
Insurance liabilities |
| | | | ||||||||||||
Due to credit institutions ** |
36,476 | 25,574 | 10,903 | 42.6 | ||||||||||||
Other liabilities |
9,928 | 8,182 | 1,746 | 21.3 | ||||||||||||
Stockholders equity *** |
14,994 | 11,957 | 3,038 | 25.4 | ||||||||||||
Other managed and marketed customer funds |
20,827 | 24,329 | (3,502 | ) | (14.4 | ) | ||||||||||
Mutual funds |
7,756 | 9,184 | (1,427 | ) | (15.5 | ) | ||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
13,071 | 15,146 | (2,075 | ) | (13.7 | ) | ||||||||||
Managed and marketed customer funds**** |
93,685 | 92,611 | 1,074 | 1.2 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
81
USA
US$ million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
1,646 | 1,711 | 1,723 | 1,701 | 1,706 | |||||||||||||||
Net fees |
294 | 300 | 296 | 314 | 312 | |||||||||||||||
Gains (losses) on financial transactions |
58 | 114 | 43 | 40 | 23 | |||||||||||||||
Other operating income * |
103 | 85 | 107 | 112 | 128 | |||||||||||||||
Gross income |
2,101 | 2,210 | 2,169 | 2,167 | 2,168 | |||||||||||||||
Operating expenses |
(783 | ) | (806 | ) | (858 | ) | (907 | ) | (856 | ) | ||||||||||
General administrative expenses |
(715 | ) | (733 | ) | (787 | ) | (827 | ) | (775 | ) | ||||||||||
Personnel |
(408 | ) | (419 | ) | (431 | ) | (452 | ) | (458 | ) | ||||||||||
Other general administrative expenses |
(306 | ) | (314 | ) | (356 | ) | (375 | ) | (317 | ) | ||||||||||
Depreciation and amortisation |
(68 | ) | (73 | ) | (71 | ) | (80 | ) | (82 | ) | ||||||||||
Net operating income |
1,318 | 1,404 | 1,311 | 1,260 | 1,312 | |||||||||||||||
Net loan-loss provisions |
(719 | ) | (834 | ) | (834 | ) | (1,053 | ) | (949 | ) | ||||||||||
Other income |
(21 | ) | (46 | ) | (41 | ) | (56 | ) | (72 | ) | ||||||||||
Profit before taxes |
579 | 524 | 436 | 150 | 291 | |||||||||||||||
Tax on profit |
(178 | ) | (174 | ) | (143 | ) | (78 | ) | (114 | ) | ||||||||||
Profit from continuing operations |
401 | 350 | 294 | 73 | 177 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
401 | 350 | 294 | 73 | 177 | |||||||||||||||
Minority interests |
112 | 111 | 86 | 55 | 87 | |||||||||||||||
Attributable profit to the Group |
289 | 239 | 207 | 17 | 90 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Customer loans ** |
88,673 | 89,122 | 90,508 | 91,658 | 92,031 | |||||||||||||||
Trading portfolio (w/o loans) |
1,640 | 1,875 | 1,398 | 2,503 | 2,694 | |||||||||||||||
Available-for-sale financial assets |
17,805 | 18,778 | 20,665 | 20,843 | 20,752 | |||||||||||||||
Due from credit institutions ** |
5,017 | 5,559 | 4,822 | 4,247 | 5,242 | |||||||||||||||
Intangible assets and property and equipment |
8,580 | 8,838 | 9,618 | 9,968 | 10,536 | |||||||||||||||
Other assets |
10,393 | 11,285 | 13,517 | 12,947 | 23,431 | |||||||||||||||
Total assets/liabilities & shareholders equity |
132,108 | 135,458 | 140,528 | 142,167 | 154,686 | |||||||||||||||
Customer deposits ** |
64,728 | 65,045 | 66,064 | 65,447 | 67,771 | |||||||||||||||
Marketable debt securities ** |
20,680 | 23,432 | 24,145 | 25,040 | 24,509 | |||||||||||||||
Subordinated debt ** |
988 | 976 | 998 | 986 | 1,008 | |||||||||||||||
Insurance liabilities |
| | | | | |||||||||||||||
Due to credit institutions ** |
25,574 | 24,150 | 28,163 | 28,490 | 36,476 | |||||||||||||||
Other liabilities |
8,182 | 9,395 | 8,482 | 9,878 | 9,928 | |||||||||||||||
Stockholders equity *** |
11,957 | 12,461 | 12,676 | 12,326 | 14,994 | |||||||||||||||
Other managed and marketed customer funds |
24,329 | 23,432 | 22,384 | 21,206 | 20,827 | |||||||||||||||
Mutual funds |
9,184 | 8,623 | 8,198 | 7,755 | 7,756 | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
15,146 | 14,808 | 14,186 | 13,451 | 13,071 | |||||||||||||||
Managed and marketed customer funds**** |
92,611 | 92,956 | 93,463 | 91,710 | 93,685 |
(**).- Including all on-balance sheet balances for this item
(***).- Capital + reserves + profit + valuation adjustments
(****).- Excluding marketable debt securities of Santander Consumer USA
82
Corporate Centre
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
(169 | ) | (220 | ) | 52 | (23.4 | ) | |||||||||
Net fees |
(5 | ) | (2 | ) | (3 | ) | 178.8 | |||||||||
Gains (losses) on financial transactions |
(32 | ) | 12 | (44 | ) | | ||||||||||
Other operating income |
(18 | ) | (19 | ) | 1 | (7.1 | ) | |||||||||
Dividends |
2 | 1 | 1 | 67.3 | ||||||||||||
Income from equity-accounted method |
(16 | ) | (12 | ) | (4 | ) | 32.4 | |||||||||
Other operating income/expenses |
(4 | ) | (8 | ) | 5 | (56.1 | ) | |||||||||
Gross income |
(223 | ) | (230 | ) | 6 | (2.8 | ) | |||||||||
Operating expenses |
(126 | ) | (142 | ) | 16 | (11.3 | ) | |||||||||
Net operating income |
(349 | ) | (372 | ) | 23 | (6.1 | ) | |||||||||
Net loan-loss provisions |
1 | (1 | ) | 2 | | |||||||||||
Other income |
(5 | ) | (98 | ) | 92 | (94.8 | ) | |||||||||
Underlying profit before taxes |
(353 | ) | (470 | ) | 117 | (24.9 | ) | |||||||||
Tax on profit |
36 | 5 | 31 | 639.3 | ||||||||||||
Underlying profit from continuing operations |
(317 | ) | (465 | ) | 148 | (31.8 | ) | |||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Underlying consolidated profit |
(317 | ) | (465 | ) | 148 | (31.8 | ) | |||||||||
Minority interests |
(6 | ) | 26 | (32 | ) | | ||||||||||
Underlying attributable profit to the Group |
(311 | ) | (491 | ) | 180 | (36.7 | ) | |||||||||
Net capital gains and provisions |
| | | | ||||||||||||
Attributable profit to the Group |
(311 | ) | (491 | ) | 180 | (36.7 | ) | |||||||||
Variation | ||||||||||||||||
31.03.16 | 31.03.15 | Amount | % | |||||||||||||
Balance sheet |
||||||||||||||||
Trading portfolio (w/o loans) |
1,616 | 3,859 | (2,243 | ) | (58.1 | ) | ||||||||||
Available-for-sale financial assets |
3,654 | 3,376 | 278 | 8.2 | ||||||||||||
Goodwill |
26,209 | 28,666 | (2,457 | ) | (8.6 | ) | ||||||||||
Capital assigned to Group areas |
84,715 | 83,180 | 1,534 | 1.8 | ||||||||||||
Other assets |
20,060 | 36,449 | (16,389 | ) | (45.0 | ) | ||||||||||
Total assets/liabilities & shareholders equity |
136,255 | 155,531 | (19,277 | ) | (12.4 | ) | ||||||||||
Customer deposits * |
1,610 | 2,554 | (945 | ) | (37.0 | ) | ||||||||||
Marketable debt securities * |
24,285 | 26,410 | (2,125 | ) | (8.0 | ) | ||||||||||
Subordinated debt |
8,195 | 5,855 | 2,340 | 40.0 | ||||||||||||
Other liabilities |
16,879 | 25,136 | (8,257 | ) | (32.8 | ) | ||||||||||
Stockholders equity *** |
85,286 | 95,576 | (10,290 | ) | (10.8 | ) | ||||||||||
Other managed and marketed customer funds |
| | | | ||||||||||||
Mutual funds |
| | | | ||||||||||||
Pension funds |
| | | | ||||||||||||
Managed portfolios |
| | | | ||||||||||||
Managed and marketed customer funds |
34,090 | 34,820 | (730 | ) | (2.1 | ) |
(**).- Including all on-balance sheet balances for this item
(**).- Capital + reserves + profit + valuation adjustments
Resources |
||||||||||||||||
Number of employees |
1,974 | 2,125 | (151 | ) | (7.1 | ) |
83
Corporate Centre
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
(220 | ) | (132 | ) | (139 | ) | (137 | ) | (169 | ) | ||||||||||
Net fees |
(2 | ) | (6 | ) | (0 | ) | (6 | ) | (5 | ) | ||||||||||
Gains (losses) on financial transactions |
12 | (68 | ) | 90 | 116 | (32 | ) | |||||||||||||
Other operating income |
(19 | ) | 28 | (8 | ) | (6 | ) | (18 | ) | |||||||||||
Dividends |
1 | 38 | 24 | 9 | 2 | |||||||||||||||
Income from equity-accounted method |
(12 | ) | (8 | ) | (16 | ) | (6 | ) | (16 | ) | ||||||||||
Other operating income/expenses |
(8 | ) | (2 | ) | (15 | ) | (9 | ) | (4 | ) | ||||||||||
Gross income |
(230 | ) | (177 | ) | (56 | ) | (32 | ) | (223 | ) | ||||||||||
Operating expenses |
(142 | ) | (150 | ) | (142 | ) | (112 | ) | (126 | ) | ||||||||||
Net operating income |
(372 | ) | (327 | ) | (199 | ) | (144 | ) | (349 | ) | ||||||||||
Net loan-loss provisions |
(1 | ) | 2 | (1 | ) | 26 | 1 | |||||||||||||
Other income |
(98 | ) | (132 | ) | (148 | ) | (130 | ) | (5 | ) | ||||||||||
Underlying profit before taxes |
(470 | ) | (457 | ) | (348 | ) | (247 | ) | (353 | ) | ||||||||||
Tax on profit |
5 | (32 | ) | (44 | ) | 131 | 36 | |||||||||||||
Underlying profit from continuing operations |
(465 | ) | (489 | ) | (392 | ) | (117 | ) | (317 | ) | ||||||||||
Net profit from discontinued operations |
0 | | (0 | ) | | | ||||||||||||||
Underlying consolidated profit |
(465 | ) | (489 | ) | (392 | ) | (117 | ) | (317 | ) | ||||||||||
Minority interests |
26 | (1 | ) | 2 | 2 | (6 | ) | |||||||||||||
Underlying attributable profit to the Group |
(491 | ) | (489 | ) | (395 | ) | (119 | ) | (311 | ) | ||||||||||
Net capital gains and provisions |
| 835 | | (1,435 | ) | | ||||||||||||||
Attributable profit to the Group |
(491 | ) | 346 | (395 | ) | (1,554 | ) | (311 | ) | |||||||||||
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Balance sheet |
||||||||||||||||||||
Trading portfolio (w/o loans) |
3,859 | 3,058 | 1,331 | 2,656 | 1,616 | |||||||||||||||
Available-for-sale financial assets |
3,376 | 3,721 | 3,585 | 3,773 | 3,654 | |||||||||||||||
Goodwill |
28,666 | 28,593 | 26,777 | 26,960 | 26,209 | |||||||||||||||
Capital assigned to Group areas |
83,180 | 81,700 | 77,606 | 77,163 | 84,715 | |||||||||||||||
Other assets |
36,449 | 36,369 | 37,305 | 37,583 | 20,060 | |||||||||||||||
Total assets/liabilities & shareholders equity |
155,531 | 153,442 | 146,605 | 148,136 | 136,255 | |||||||||||||||
Customer deposits* |
2,554 | 2,177 | 1,997 | 5,185 | 1,610 | |||||||||||||||
Marketable debt securities* |
26,410 | 22,220 | 24,448 | 27,791 | 24,285 | |||||||||||||||
Subordinated debt |
5,855 | 6,861 | 8,354 | 9,596 | 8,195 | |||||||||||||||
Other liabilities |
25,136 | 29,270 | 25,974 | 21,049 | 16,879 | |||||||||||||||
Stockholders equity *** |
95,576 | 92,913 | 85,833 | 84,515 | 85,286 | |||||||||||||||
Other managed and marketed customer funds |
| | | | | |||||||||||||||
Mutual funds |
| | | | | |||||||||||||||
Pension funds |
| | | | | |||||||||||||||
Managed portfolios |
| | | | | |||||||||||||||
Managed and marketed customer funds |
34,820 | 31,258 | 34,798 | 42,572 | 34,090 |
(*).- Including all on-balance sheet balances for this item
(**).- Capital + reserves + profit + valuation adjustments
84
Retail Banking
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
7,154 | 7,496 | (342 | ) | (4.6 | ) | ||||||||||
Net fees |
2,044 | 2,159 | (115 | ) | (5.3 | ) | ||||||||||
Gains (losses) on financial transactions |
180 | 347 | (167 | ) | (48.0 | ) | ||||||||||
Other operating income * |
173 | 178 | (5 | ) | (2.6 | ) | ||||||||||
Gross income |
9,552 | 10,180 | (628 | ) | (6.2 | ) | ||||||||||
Operating expenses |
(4,492 | ) | (4,640 | ) | 148 | (3.2 | ) | |||||||||
General administrative expenses |
(4,104 | ) | (4,262 | ) | 158 | (3.7 | ) | |||||||||
Personnel |
(2,201 | ) | (2,263 | ) | 62 | (2.8 | ) | |||||||||
Other general administrative expenses |
(1,903 | ) | (1,998 | ) | 95 | (4.8 | ) | |||||||||
Depreciation and amortisation |
(388 | ) | (378 | ) | (10 | ) | 2.7 | |||||||||
Net operating income |
5,060 | 5,540 | (480 | ) | (8.7 | ) | ||||||||||
Net loan-loss provisions |
(2,161 | ) | (2,318 | ) | 157 | (6.8 | ) | |||||||||
Other income |
(416 | ) | (372 | ) | (44 | ) | 11.9 | |||||||||
Profit before taxes |
2,482 | 2,849 | (367 | ) | (12.9 | ) | ||||||||||
Tax on profit |
(673 | ) | (757 | ) | 84 | (11.1 | ) | |||||||||
Profit from continuing operations |
1,809 | 2,093 | (283 | ) | (13.5 | ) | ||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
1,809 | 2,093 | (283 | ) | (13.5 | ) | ||||||||||
Minority interests |
255 | 284 | (29 | ) | (10.3 | ) | ||||||||||
Attributable profit to the Group |
1,554 | 1,808 | (254 | ) | (14.1 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
85
Retail Banking
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
7,496 | 7,653 | 7,396 | 7,312 | 7,154 | |||||||||||||||
Net fees |
2,159 | 2,177 | 2,122 | 2,104 | 2,044 | |||||||||||||||
Gains (losses) on financial transactions |
347 | 347 | 369 | 297 | 180 | |||||||||||||||
Other operating income * |
178 | 189 | 193 | (185 | ) | 173 | ||||||||||||||
Gross income |
10,180 | 10,366 | 10,080 | 9,528 | 9,552 | |||||||||||||||
Operating expenses |
(4,640 | ) | (4,689 | ) | (4,609 | ) | (4,737 | ) | (4,492 | ) | ||||||||||
General administrative expenses |
(4,262 | ) | (4,283 | ) | (4,225 | ) | (4,331 | ) | (4,104 | ) | ||||||||||
Personnel |
(2,263 | ) | (2,339 | ) | (2,236 | ) | (2,303 | ) | (2,201 | ) | ||||||||||
Other general administrative expenses |
(1,998 | ) | (1,944 | ) | (1,988 | ) | (2,029 | ) | (1,903 | ) | ||||||||||
Depreciation and amortisation |
(378 | ) | (406 | ) | (385 | ) | (406 | ) | (388 | ) | ||||||||||
Net operating income |
5,540 | 5,677 | 5,471 | 4,792 | 5,060 | |||||||||||||||
Net loan-loss provisions |
(2,318 | ) | (2,319 | ) | (2,321 | ) | (2,289 | ) | (2,161 | ) | ||||||||||
Other income |
(372 | ) | (473 | ) | (479 | ) | (426 | ) | (416 | ) | ||||||||||
Profit before taxes |
2,849 | 2,885 | 2,671 | 2,077 | 2,482 | |||||||||||||||
Tax on profit |
(757 | ) | (752 | ) | (610 | ) | (507 | ) | (673 | ) | ||||||||||
Profit from continuing operations |
2,093 | 2,133 | 2,060 | 1,569 | 1,809 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
2,093 | 2,133 | 2,060 | 1,569 | 1,809 | |||||||||||||||
Minority interests |
284 | 321 | 290 | 219 | 255 | |||||||||||||||
Attributable profit to the Group |
1,808 | 1,812 | 1,770 | 1,350 | 1,554 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
86
Retail Banking
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
7,154 | 6,779 | 374 | 5.5 | ||||||||||||
Net fees |
2,044 | 1,916 | 128 | 6.7 | ||||||||||||
Gains (losses) on financial transactions |
180 | 340 | (159 | ) | (46.9 | ) | ||||||||||
Other operating income * |
173 | 179 | (6 | ) | (3.4 | ) | ||||||||||
Gross income |
9,552 | 9,214 | 337 | 3.7 | ||||||||||||
Operating expenses |
(4,492 | ) | (4,187 | ) | (305 | ) | 7.3 | |||||||||
General administrative expenses |
(4,104 | ) | (3,849 | ) | (255 | ) | 6.6 | |||||||||
Personnel |
(2,201 | ) | (2,047 | ) | (153 | ) | 7.5 | |||||||||
Other general administrative expenses |
(1,903 | ) | (1,801 | ) | (102 | ) | 5.7 | |||||||||
Depreciation and amortisation |
(388 | ) | (338 | ) | (50 | ) | 14.8 | |||||||||
Net operating income |
5,060 | 5,028 | 32 | 0.6 | ||||||||||||
Net loan-loss provisions |
(2,161 | ) | (2,092 | ) | (69 | ) | 3.3 | |||||||||
Other income |
(416 | ) | (313 | ) | (104 | ) | 33.1 | |||||||||
Profit before taxes |
2,482 | 2,623 | (141 | ) | (5.4 | ) | ||||||||||
Tax on profit |
(673 | ) | (692 | ) | 19 | (2.8 | ) | |||||||||
Profit from continuing operations |
1,809 | 1,931 | (121 | ) | (6.3 | ) | ||||||||||
Net profit from discontinued operations |
| 0 | (0 | ) | (100.0 | ) | ||||||||||
Consolidated profit |
1,809 | 1,931 | (121 | ) | (6.3 | ) | ||||||||||
Minority interests |
255 | 267 | (11 | ) | (4.3 | ) | ||||||||||
Attributable profit to the Group |
1,554 | 1,664 | (110 | ) | (6.6 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
87
Retail Banking
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
6,779 | 6,934 | 7,029 | 7,070 | 7,154 | |||||||||||||||
Net fees |
1,916 | 1,947 | 1,988 | 2,010 | 2,044 | |||||||||||||||
Gains (losses) on financial transactions |
340 | 312 | 345 | 307 | 180 | |||||||||||||||
Other operating income * |
179 | 183 | 188 | (178 | ) | 173 | ||||||||||||||
Gross income |
9,214 | 9,375 | 9,550 | 9,210 | 9,552 | |||||||||||||||
Operating expenses |
(4,187 | ) | (4,248 | ) | (4,359 | ) | (4,551 | ) | (4,492 | ) | ||||||||||
General administrative expenses |
(3,849 | ) | (3,882 | ) | (3,994 | ) | (4,162 | ) | (4,104 | ) | ||||||||||
Personnel |
(2,047 | ) | (2,124 | ) | (2,114 | ) | (2,215 | ) | (2,201 | ) | ||||||||||
Other general administrative expenses |
(1,801 | ) | (1,758 | ) | (1,880 | ) | (1,948 | ) | (1,903 | ) | ||||||||||
Depreciation and amortisation |
(338 | ) | (367 | ) | (364 | ) | (389 | ) | (388 | ) | ||||||||||
Net operating income |
5,028 | 5,126 | 5,191 | 4,659 | 5,060 | |||||||||||||||
Net loan-loss provisions |
(2,092 | ) | (2,100 | ) | (2,197 | ) | (2,222 | ) | (2,161 | ) | ||||||||||
Other income |
(313 | ) | (412 | ) | (445 | ) | (425 | ) | (416 | ) | ||||||||||
Profit before taxes |
2,623 | 2,614 | 2,550 | 2,011 | 2,482 | |||||||||||||||
Tax on profit |
(692 | ) | (680 | ) | (596 | ) | (503 | ) | (673 | ) | ||||||||||
Profit from continuing operations |
1,931 | 1,934 | 1,954 | 1,508 | 1,809 | |||||||||||||||
Net profit from discontinued operations |
0 | 0 | (0 | ) | | | ||||||||||||||
Consolidated profit |
1,931 | 1,934 | 1,954 | 1,508 | 1,809 | |||||||||||||||
Minority interests |
267 | 296 | 280 | 215 | 255 | |||||||||||||||
Attributable profit to the Group |
1,664 | 1,638 | 1,674 | 1,293 | 1,554 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
88
Global Corporate Banking
million
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
650 | 776 | (126 | ) | (16.2 | ) | ||||||||||
Net fees |
357 | 366 | (9 | ) | (2.6 | ) | ||||||||||
Gains (losses) on financial transactions |
356 | 292 | 63 | 21.6 | ||||||||||||
Other operating income * |
40 | 20 | 19 | 95.8 | ||||||||||||
Gross income |
1,403 | 1,455 | (52 | ) | (3.6 | ) | ||||||||||
Operating expenses |
(485 | ) | (529 | ) | 44 | (8.3 | ) | |||||||||
General administrative expenses |
(464 | ) | (485 | ) | 21 | (4.3 | ) | |||||||||
Personnel |
(266 | ) | (279 | ) | 13 | (4.8 | ) | |||||||||
Other general administrative expenses |
(198 | ) | (206 | ) | 7 | (3.6 | ) | |||||||||
Depreciation and amortisation |
(21 | ) | (44 | ) | 23 | (51.9 | ) | |||||||||
Net operating income |
917 | 926 | (8 | ) | (0.9 | ) | ||||||||||
Net loan-loss provisions |
(223 | ) | (201 | ) | (22 | ) | 10.9 | |||||||||
Other income |
(0 | ) | 5 | (5 | ) | | ||||||||||
Profit before taxes |
694 | 729 | (35 | ) | (4.8 | ) | ||||||||||
Tax on profit |
(200 | ) | (206 | ) | 7 | (3.2 | ) | |||||||||
Profit from continuing operations |
494 | 523 | (29 | ) | (5.5 | ) | ||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
494 | 523 | (29 | ) | (5.5 | ) | ||||||||||
Minority interests |
41 | 38 | 3 | 7.2 | ||||||||||||
Attributable profit to the Group |
454 | 485 | (31 | ) | (6.4 | ) |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
89
Global Corporate Banking
million
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
776 | 759 | 736 | 730 | 650 | |||||||||||||||
Net fees |
366 | 415 | 353 | 349 | 357 | |||||||||||||||
Gains (losses) on financial transactions |
292 | 59 | 132 | 240 | 356 | |||||||||||||||
Other operating income * |
20 | 151 | 46 | 51 | 40 | |||||||||||||||
Gross income |
1,455 | 1,384 | 1,267 | 1,370 | 1,403 | |||||||||||||||
Operating expenses |
(529 | ) | (533 | ) | (532 | ) | (519 | ) | (485 | ) | ||||||||||
General administrative expenses |
(485 | ) | (489 | ) | (490 | ) | (486 | ) | (464 | ) | ||||||||||
Personnel |
(279 | ) | (285 | ) | (271 | ) | (273 | ) | (266 | ) | ||||||||||
Other general administrative expenses |
(206 | ) | (203 | ) | (219 | ) | (214 | ) | (198 | ) | ||||||||||
Depreciation and amortisation |
(44 | ) | (44 | ) | (43 | ) | (33 | ) | (21 | ) | ||||||||||
Net operating income |
926 | 851 | 734 | 851 | 917 | |||||||||||||||
Net loan-loss provisions |
(201 | ) | (143 | ) | (75 | ) | (262 | ) | (223 | ) | ||||||||||
Other income |
5 | (24 | ) | (28 | ) | (46 | ) | (0 | ) | |||||||||||
Profit before taxes |
729 | 685 | 632 | 543 | 694 | |||||||||||||||
Tax on profit |
(206 | ) | (189 | ) | (185 | ) | (152 | ) | (200 | ) | ||||||||||
Profit from continuing operations |
523 | 496 | 447 | 391 | 494 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
523 | 496 | 447 | 391 | 494 | |||||||||||||||
Minority interests |
38 | 31 | 27 | 23 | 41 | |||||||||||||||
Attributable profit to the Group |
485 | 464 | 420 | 368 | 454 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
90
Global Corporate Banking
million (currency-neutral basis)
Variation | ||||||||||||||||
1Q 16 | 1Q 15 | Amount | % | |||||||||||||
Income statement |
||||||||||||||||
Net interest income |
650 | 664 | (14 | ) | (2.1 | ) | ||||||||||
Net fees |
357 | 331 | 26 | 7.8 | ||||||||||||
Gains (losses) on financial transactions |
356 | 265 | 90 | 34.1 | ||||||||||||
Other operating income * |
40 | 21 | 18 | 87.4 | ||||||||||||
Gross income |
1,403 | 1,282 | 121 | 9.4 | ||||||||||||
Operating expenses |
(485 | ) | (488 | ) | 3 | (0.6 | ) | |||||||||
General administrative expenses |
(464 | ) | (448 | ) | (16 | ) | 3.6 | |||||||||
Personnel |
(266 | ) | (255 | ) | (11 | ) | 4.1 | |||||||||
Other general administrative expenses |
(198 | ) | (193 | ) | (6 | ) | 2.9 | |||||||||
Depreciation and amortisation |
(21 | ) | (40 | ) | 19 | (47.4 | ) | |||||||||
Net operating income |
917 | 794 | 124 | 15.6 | ||||||||||||
Net loan-loss provisions |
(223 | ) | (168 | ) | (55 | ) | 32.6 | |||||||||
Other income |
(0 | ) | 1 | (1 | ) | | ||||||||||
Profit before taxes |
694 | 626 | 68 | 10.8 | ||||||||||||
Tax on profit |
(200 | ) | (174 | ) | (26 | ) | 14.8 | |||||||||
Profit from continuing operations |
494 | 452 | 42 | 9.3 | ||||||||||||
Net profit from discontinued operations |
| | | | ||||||||||||
Consolidated profit |
494 | 452 | 42 | 9.3 | ||||||||||||
Minority interests |
41 | 31 | 10 | 31.8 | ||||||||||||
Attributable profit to the Group |
454 | 421 | 32 | 7.7 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
91
Global Corporate Banking
million (currency-neutral basis)
1Q 15 | 2Q 15 | 3Q 15 | 4Q 15 | 1Q 16 | ||||||||||||||||
Income statement |
||||||||||||||||||||
Net interest income |
664 | 663 | 682 | 691 | 650 | |||||||||||||||
Net fees |
331 | 377 | 334 | 337 | 357 | |||||||||||||||
Gains (losses) on financial transactions |
265 | 55 | 137 | 217 | 356 | |||||||||||||||
Other operating income * |
21 | 151 | 47 | 52 | 40 | |||||||||||||||
Gross income |
1,282 | 1,246 | 1,200 | 1,297 | 1,403 | |||||||||||||||
Operating expenses |
(488 | ) | (492 | ) | (507 | ) | (500 | ) | (485 | ) | ||||||||||
General administrative expenses |
(448 | ) | (451 | ) | (466 | ) | (468 | ) | (464 | ) | ||||||||||
Personnel |
(255 | ) | (261 | ) | (257 | ) | (262 | ) | (266 | ) | ||||||||||
Other general administrative expenses |
(193 | ) | (190 | ) | (209 | ) | (206 | ) | (198 | ) | ||||||||||
Depreciation and amortisation |
(40 | ) | (41 | ) | (41 | ) | (32 | ) | (21 | ) | ||||||||||
Net operating income |
794 | 754 | 693 | 798 | 917 | |||||||||||||||
Net loan-loss provisions |
(168 | ) | (118 | ) | (81 | ) | (249 | ) | (223 | ) | ||||||||||
Other income |
1 | (23 | ) | (26 | ) | (44 | ) | (0 | ) | |||||||||||
Profit before taxes |
626 | 613 | 586 | 504 | 694 | |||||||||||||||
Tax on profit |
(174 | ) | (168 | ) | (170 | ) | (138 | ) | (200 | ) | ||||||||||
Profit from continuing operations |
452 | 444 | 416 | 366 | 494 | |||||||||||||||
Net profit from discontinued operations |
| | | | | |||||||||||||||
Consolidated profit |
452 | 444 | 416 | 366 | 494 | |||||||||||||||
Minority interests |
31 | 26 | 25 | 23 | 41 | |||||||||||||||
Attributable profit to the Group |
421 | 418 | 391 | 343 | 454 |
(*).- Including dividends, income from equity-accounted method and other operating income/expenses
92
NPL ratio
%
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Continental Europe |
8.52 | 8.15 | 7.89 | 7.27 | 7.08 | |||||||||||||||
Spain |
7.25 | 6.91 | 6.61 | 6.53 | 6.36 | |||||||||||||||
Santander Consumer Finance |
4.52 | 4.25 | 4.15 | 3.42 | 3.28 | |||||||||||||||
Poland |
7.33 | 7.07 | 7.14 | 6.30 | 5.93 | |||||||||||||||
Portugal |
8.96 | 8.80 | 8.86 | 7.46 | 8.55 | |||||||||||||||
United Kingdom |
1.75 | 1.61 | 1.51 | 1.52 | 1.49 | |||||||||||||||
Latin America |
4.64 | 4.74 | 4.65 | 4.96 | 4.88 | |||||||||||||||
Brazil |
4.90 | 5.13 | 5.30 | 5.98 | 5.93 | |||||||||||||||
Mexico |
3.71 | 3.81 | 3.54 | 3.38 | 3.06 | |||||||||||||||
Chile |
5.88 | 5.73 | 5.60 | 5.62 | 5.45 | |||||||||||||||
USA |
2.20 | 2.20 | 2.20 | 2.13 | 2.19 | |||||||||||||||
Operating Areas |
4.87 | 4.68 | 4.52 | 4.39 | 4.36 | |||||||||||||||
Total Group |
4.85 | 4.64 | 4.50 | 4.36 | 4.33 |
93
Coverage ratio
%
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Continental Europe |
58.6 | 58.9 | 60.4 | 64.2 | 65.4 | |||||||||||||||
Spain |
46.6 | 46.8 | 47.8 | 48.1 | 50.2 | |||||||||||||||
Santander Consumer Finance |
103.6 | 104.9 | 107.2 | 109.1 | 111.9 | |||||||||||||||
Poland |
61.6 | 63.5 | 63.1 | 64.0 | 67.0 | |||||||||||||||
Portugal |
52.4 | 54.2 | 56.2 | 99.0 | 87.7 | |||||||||||||||
United Kingdom |
41.2 | 40.3 | 39.6 | 38.2 | 36.5 | |||||||||||||||
Latin America |
83.6 | 84.4 | 85.4 | 79.0 | 79.7 | |||||||||||||||
Brazil |
95.2 | 95.9 | 96.0 | 83.7 | 83.7 | |||||||||||||||
Mexico |
88.4 | 87.5 | 93.0 | 90.6 | 97.5 | |||||||||||||||
Chile |
52.0 | 51.6 | 52.8 | 53.9 | 54.6 | |||||||||||||||
USA |
211.5 | 224.2 | 218.3 | 225.0 | 221.1 | |||||||||||||||
Operating Areas |
68.3 | 69.4 | 70.5 | 72.6 | 73.3 | |||||||||||||||
Total Group |
68.9 | 70.1 | 71.1 | 73.1 | 74.0 |
94
Cost of credit
%
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Continental Europe |
0.95 | 0.86 | 0.77 | 0.68 | 0.60 | |||||||||||||||
Spain |
0.97 | 0.84 | 0.71 | 0.62 | 0.54 | |||||||||||||||
Santander Consumer Finance |
0.93 | 0.91 | 0.87 | 0.77 | 0.64 | |||||||||||||||
Poland |
1.00 | 1.00 | 0.96 | 0.87 | 0.82 | |||||||||||||||
Portugal |
0.45 | 0.38 | 0.35 | 0.29 | 0.28 | |||||||||||||||
United Kingdom |
0.11 | 0.08 | 0.04 | 0.03 | 0.01 | |||||||||||||||
Latin America |
3.53 | 3.39 | 3.33 | 3.36 | 3.39 | |||||||||||||||
Brazil |
4.63 | 4.45 | 4.40 | 4.50 | 4.63 | |||||||||||||||
Mexico |
2.92 | 2.89 | 2.87 | 2.91 | 2.95 | |||||||||||||||
Chile |
1.74 | 1.68 | 1.68 | 1.65 | 1.58 | |||||||||||||||
USA |
3.25 | 3.39 | 3.36 | 3.66 | 3.85 | |||||||||||||||
Operating Areas |
1.38 | 1.33 | 1.27 | 1.26 | 1.24 | |||||||||||||||
Total Group |
1.38 | 1.32 | 1.26 | 1.25 | 1.22 |
95
Risk-weighted assets
million
31.03.15 | 30.06.15 | 30.09.15 | 31.12.15 | 31.03.16 | ||||||||||||||||
Continental Europe |
226,348 | 222,524 | 215,770 | 215,599 | 218,694 | |||||||||||||||
Spain |
111,376 | 106,999 | 103,608 | 101,686 | 101,302 | |||||||||||||||
Santander Consumer Finance |
55,711 | 54,895 | 54,890 | 54,543 | 57,186 | |||||||||||||||
Poland |
17,329 | 16,800 | 16,876 | 17,164 | 17,653 | |||||||||||||||
Portugal |
15,804 | 16,001 | 15,988 | 19,956 | 19,654 | |||||||||||||||
Spains real estate activity |
14,892 | 16,558 | 16,576 | 14,770 | 15,328 | |||||||||||||||
United Kingdom |
114,165 | 121,925 | 118,058 | 117,184 | 111,321 | |||||||||||||||
Latin America |
174,954 | 169,250 | 152,805 | 153,286 | 144,179 | |||||||||||||||
Brazil |
96,648 | 93,986 | 81,502 | 81,836 | 75,500 | |||||||||||||||
Mexico |
29,254 | 28,727 | 26,834 | 27,519 | 26,717 | |||||||||||||||
Chile |
32,252 | 30,258 | 28,236 | 28,412 | 28,805 | |||||||||||||||
USA |
88,309 | 82,555 | 82,810 | 87,262 | 83,938 | |||||||||||||||
Operating Areas |
603,776 | 596,254 | 569,443 | 573,331 | 558,132 | |||||||||||||||
Corporate Centre |
14,175 | 13,230 | 16,373 | 12,278 | 13,827 | |||||||||||||||
Total Group |
617,951 | 609,484 | 585,816 | 585,609 | 571,959 |
96
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Banco Santander, S.A. | ||||||
Date: April 29, 2016 |
By: | /s/ José García Cantera | ||||
Name: José García Cantera | ||||||
Title: Chief Financial Officer |