SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of August, 2014
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.
INCORPORATION BY REFERENCE
Items 1 and 2 of this report on Form 6-K shall be deemed to be incorporated by reference
into the registration statement on Form F-3 (Registration Number: 333-185153) of
Banco Santander, S.A. and to be a part thereof from the date on which this report is filed,
to the extent not superseded by documents or reports subsequently filed or furnished.
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2014 FIRST HALF RESULTS
Santander made a profit of EUR 2.756 billion, 22% more than the first half of 2013
Compared with the previous quarter, commercial revenues increased 5%, costs grew only 1% and provisions were down 2%.
| • | BUSINESS. The recovery in lending continued, as loans rose by EUR 22,924 million, to EUR 734,363 million, up 3% compared with December 2013. Deposits and mutual funds stood at EUR 737,500 million, having grown by EUR 25,696 million, or 4%, since the end of 2013. Current accounts grew 6%, what means EUR 18,045 million more. |
| • | NPLs. The Group’s non-performing loan ratio dropped for a second consecutive quarter, to 5.45%. In Spain, there was a change of direction and the NPL ratio stands at 7.59% with a significant decrease in new NPLs both for corporate and retail customers. |
| • | LIQUIDITY. The loan-to-deposit ratio was 87% in Spain, meaning that there were more deposits than loans, and 114% for the Group. |
| • | CAPITAL. The capital ratio stands at 12.1%, with core capital at 10.9%, up 0.15 percentage point thanks to organic capital generation during the quarter. |
| • | DIVERSIFICATION. Europe accounted for 52% of Group profit (the U.K. 20%, Spain 13%, Poland 6% and Germany 5%), Latin America 39% (Brazil 19%, Mexico 8% and Chile 7%) and the U.S. 9%. |
| • | Spain: Attributable profit was EUR 513 million (up 79% compared with the first half of 2013). Basic revenues grew 3% year-on-year and costs fell 7%. The change of trend in lending was confirmed, with loans up 2% since December at EUR 165,313 million. Customer funds under management (deposits and mutual funds) increased 3% in the first half to EUR 219,893 million, while current accounts grow 6%. |
| • | U.K.: Attributable profit was EUR 775 million (636 million pounds, up 54% from the first half of 2013). Basic revenues increased 15% and there was a significant increase in current accounts (up 65%) and lending to companies (up 10%), which grow for a third year in a row. |
| • | Brazil: Attributable profit was EUR 758 million (BRL 2,385 million, down 3% from the first half of 2013). The second quarter was very similar to the first throughout the P&L. Loans rose 4% and customer funds 14% year-on-year. |
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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Madrid, July 31, 2014. Banco Santander made an attributable profit of EUR 2.756 billion in the first half of 2014, an increase of 22% compared with the same half last year. Banco Santander’s chairman, Emilio Botín, said: “Performance in the first half of 2014 proves that Santander is on track to return to pre-crisis profit levels. The Group’s geographic diversification has played a key role.”
Second quarter profit was EUR 1.453 billion, the highest in the last two years, and does not include net capital gains from the sale of 85% of Altamira (EUR 385 million), Santander Consumer USA’s IPO (EUR 730 million) or EUR 220 million from excess provisioning of pension funds in the U.K. These capital gains have no impact on profit as they have been set aside to cover restructuring costs, amortisation of intangibles and other write-downs by an equivalent amount.
The improvement in earnings is the result of an increase in revenues, practically flat costs and a fall in NPL provisions. This is in a context of business growth, both in loans and customer funds, a falling non-performing loan rate, after seven years of consistent rises, an increase in the coverage rate and high solvency and liquidity ratios.
Grupo Santander Results
In short, higher profit in the quarter due to higher commercial revenues, costs control and lower cost of credit
| 2Q’14 | Var. / 1Q’14 | 1H’14 | Var. / 1H’13 | |||||||||||||||||||||
| EUR million | % | %* | % | %* | ||||||||||||||||||||
| NII + fee income |
9,773 | 4.8 | 2.9 | 19,095 | -2.2 | 6.9 | ||||||||||||||||||
| Gross income |
10,488 | 3.6 | 1.8 | 20,611 | -4.4 | 4.0 | ||||||||||||||||||
| Operating expenses |
-4,906 | 1.2 | -0.3 | -9,753 | -4.0 | 2.9 | ||||||||||||||||||
| Net operating income |
5,582 | 5.8 | 3.7 | 10,858 | -4.9 | 4.9 | ||||||||||||||||||
| Loan-loss provisions |
-2,638 | -2.1 | -4.1 | -5,333 | -18.5 | -10.9 | ||||||||||||||||||
| PBT |
2,435 | 13.3 | 11.1 | 4,584 | 16.0 | 31.8 | ||||||||||||||||||
| Attributable profit |
1,453 | 11.6 | 9.5 | 2,756 | 22.2 | 40.1 | ||||||||||||||||||
| (*) | Variations excluding fx impact |
Note 1: Net capital gains of Altamira (EUR 385 mill.), SCUSA (EUR 730 mill.) and excess provisioning of pension funds in the U.K. (EUR 220 mill.) had no impact on profit. A fund was established for restructuring costs (EUR 744 mill.), and intangible assets impairment (EUR 512 mill.) and other provisions (EUR 79 mill.) made.
Note 2: 2Q’14 profit does not include the net capital gains expected from the announced transactions of Custody (EUR 410 mill.) and Insurance (EUR 250 mill.). Both transactions are expected to be closed in 2H’14.
Results
This quarter’s results are set against a backdrop of incipient recovery and very low interest rates in some of the Group’s core currencies, such as the euro, the pound and the dollar. The depreciation of the main Latin American currencies and the dollar eased in the second quarter of this year, but they are still trading far below the exchange rates of the first half of 2013. In fact, if exchange rates had not changed compared with the same period last year, net profit would have risen 40% instead of 22%.
The improvement in profit is noticeable from the top of the P&L. Net interest income was EUR 7,370 million, the highest in the last seven quarters and an increase of 5% compared with the first quarter. Santander’s basic revenues (net interest income plus fee income) were EUR 19,095 million, down 2% but up 7% excluding the exchange rate effect.
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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Costs were EUR 4,906 million in the second quarter, very similar to the first three months. In the first half, costs amounted to EUR 9,753 million, down 4%.
Net operating income (recurring operating profit) was EUR 5,582 million in the second quarter, an increase of 6% compared with the first. In the first half it was EUR 10,858 million, down 5% year-on-year (but up 5% excluding exchange rate differences).
The performance of revenues and costs led to an improvement in the cost-to-income ratio. In 2013, costs accounted for 48.0% of revenues, while in the first half they represented 0.7 point less, or 47.3%.
Loan loss provisions, the other item that weighs most on results, stood at EUR 2,638 million, the lowest in the last ten quarters and down 2% compared with the first quarter. In the first half, provisions fell 18% (-11% excluding the exchange rate effect), to EUR 5,333 million.
Emerging economies (Latin America and Poland) accounted for 45% of Group profit and mature markets contributed the rest. By country, the largest contribution came from the U.K. (20%), followed by Brazil (19%), Spain (13%), the U.S. (9%), Mexico (8%), Chile (7%), Poland (6%) and Germany (5%).
Balance sheet
Banco Santander had total assets of EUR 1.188 trillion at the end of June, an increase of 2% compared with the first quarter and down 4% from a year earlier. The balance sheet is well balanced with a loan portfolio the equivalent of 114% of deposits, which gives the bank a very comfortable liquidity position. Before the crisis, the ratio was 150%.
At the end of the first half, the loan portfolio was EUR 734,363 million, 3% more than in December 2013. This means that Grupo Santander increased lending by EUR 22,924 million in the first half. The recovery in mature economies played a key role as Spain and the U.K., which account for 57% of total Group loans, managed to consolidate the first quarter’s change of direction after several years of falling lending. All countries expanded their loan portfolios in the quarter, except Portugal, where lending fell 0.3%.
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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In Spain, total loans stood at EUR 165,313 million, up 2%, or EUR 3,245 million, excluding repos, which are not really loans. This increase was mainly because of the corporate sector, where the bank achieved a 30% increase in new lending. In the first half, the bank has provided lending to companies for an amount of EUR 50,000 million through various instruments, such as loans and bonds, of which EUR 27,000 million correspond to the second quarter.
One of the Group’s main priorities is to grow in the SME segment. At the end of March, the bank launched Santander Advance, a global project which has been introduced in Spain first and will be extended to all the Group’s core markets before the end of 2015. Santander Advance provides financial products and a support programme to help SMEs grow, which includes advice on training, employment and international expansion.
In the first half, the bank set aside EUR 12,264 million in funding to the Advance segment, a similar amount to last year. There has been an increase in demand in June and July.
In the U.K., the loan portfolio was EUR 241,164 million at the end of June, an increase of 1% compared with the first quarter and with December 2013. Growth in corporate loans is particularly strong, up 10% year-on-year.
This performance has supported business diversification, reducing the weight of mortgages in the portfolio and increasing loans to companies, which already account for 12% of total lending. The bank has continued to open regional business centres focused on lending to SMEs and has also increased the number of managers that specialise in large corporates.
As to customer funds under management, deposits and mutual funds stood at EUR 737,500 million, an increase of 4% or EUR 25,696 million. Deposits came in at EUR 617,761 million and mutual funds at EUR 119,739 million, after posting first half growth of 2% and 15%, respectively.
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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Current accounts, which represent more than half of total deposits, show a positive performance in the Group’s ten core markets. The balance of current accounts amounted to EUR 323,728 million at the end of June, an increase of 6% compared to the end of December, meaning that in six months the bank has captured EUR 18,045 million in current accounts. The current account is a core product in the bank’s strategy of increasing customer loyalty, as customers use it to do most of their transactions.
In Spain, total customer funds (deposits and mutual funds) totalled EUR 219,893 million at the end of June, up 3% in the last six months. An important part of this improvement is due to the increase of over 6% in current account from the private sector, what means capturing EUR 4,692 million in a single semester.
In the U.K., total customer funds stood at EUR 203,172 million at the end of June, an increase of 1% from December 2013. The improvement is mainly the result of current account growth: balances rose by nearly EUR 9,000 million in the last six months.
The Santander Select segment, which is part of the Group’s global personal banking strategy, plays a key role in capturing customer funds. In 2013, Santander Select was introduced in Spain, U.K., Brazil, Mexico, Chile and Argentina. This year it was extended to Portugal and the United States, and, in the next few months, it will be available in the remaining countries.
The Group’s NPL ratio was 5.45%, down 0.07 point from the previous quarter, consolidating the fall seen in the first quarter, which was the first since the start of the international financial crisis in August 2007. At the same time, the coverage ratio improved one percentage point to 67%.
In Spain, the NPL ratio fell for the first time since the crisis began, dropping from 7.61% to 7.59%. It also declined in countries such as Mexico, Chile or Portugal. In Santander Portugal, the NPL ratio was 8.16%, registering a fall for the first time since September 2009. The Group’s unit in Portugal has the system’s best credit rating and is the only local bank generating a profit during the crisis. In the U.K., Brazil and the U.S. there was a slight increase compared with the previous quarter, but NPL ratios are still down year-on-year.
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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Moving on to capital ratios, Banco Santander’s computable capital stood at EUR 87,035 million at the end of June, EUR 3,833 million more than a year earlier. The bank’s capital ratio stood at 12.1%, with a core capital (CET1) ratio of 10.9%. In the first quarter of 2014, Santander issued its first contingent convertible bonds (cocos) for EUR 1,500 million. Another issue in the second quarter raised a further US$ 1,500 million.
Banco Santander has a market capitalisation of around EUR 90,000 million, which makes it the leading bank in the euro zone and tenth in the world. Santander has 3,279,897 shareholders and 183,648 employees serving 107 million customers in 13,225 branches.
More information in www.santander.com
| Comunicación Externa. Ciudad Grupo Santander Edificio Arrecife Pl. 2 28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11 email: [email protected] |
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Preliminary note:
In order to facilitate the following comparative analysis, the financial information of previous periods has been re-expressed (not audited), as set out on page 22 of this report. The changes were mainly due to taking control of Santander Consumer USA, in 2014, and the loss of control of the fund management companies in 2013, as if they had been effective in the previously presented periods.
Non recurring capital gains and provisions are shown separately as “net capital gains and provisions”.
KEY CONSOLIDATED DATA
| BALANCE SHEET (EUR million) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Total assets |
1,188,043 | 1,168,718 | 1.7 | 1,188,043 | 1,239,415 | (4.1 | ) | 1,134,003 | ||||||||||||||||||||
| Net customer loans |
706,899 | 694,595 | 1.8 | 706,899 | 715,023 | (1.1 | ) | 684,690 | ||||||||||||||||||||
| Customer deposits |
617,761 | 620,135 | (0.4 | ) | 617,761 | 644,934 | (4.2 | ) | 607,836 | |||||||||||||||||||
| Managed and marketed customer funds |
982,494 | 966,704 | 1.6 | 982,494 | 991,774 | (0.9 | ) | 946,210 | ||||||||||||||||||||
| Shareholders’ equity |
87,035 | 85,631 | 1.6 | 87,035 | 83,202 | 4.6 | 84,302 | |||||||||||||||||||||
| Total managed and marketed funds |
1,342,238 | 1,313,014 | 2.2 | 1,342,238 | 1,371,542 | (2.1 | ) | 1,269,917 | ||||||||||||||||||||
| INCOME STATEMENT* (EUR million) |
2Q’14 | 1Q’14 | (%) | 1H’14 | 1H’13 | (%) | 2013 | |||||||||||||||||||||
| Net interest income |
7,370 | 6,992 | 5.4 | 14,362 | 14,544 | (1.3 | ) | 28,419 | ||||||||||||||||||||
| Gross income |
10,488 | 10,124 | 3.6 | 20,611 | 21,570 | (4.4 | ) | 41,931 | ||||||||||||||||||||
| Pre-provision profit (net operating income) |
5,582 | 5,277 | 5.8 | 10,858 | 11,414 | (4.9 | ) | 21,773 | ||||||||||||||||||||
| Profit before taxes |
2,435 | 2,149 | 13.3 | 4,584 | 3,953 | 16.0 | 7,637 | |||||||||||||||||||||
| Attributable profit to the Group |
1,453 | 1,303 | 11.6 | 2,756 | 2,255 | 22.2 | 4,370 | |||||||||||||||||||||
| (*).- | Variations w/o exchange rate |
| Quarterly: Net interest income: +3.3%; Gross income: +1.8%; Pre-provision profit: +3.7%; Attributable profit: +9.5% |
| Year-on-year: Net interest income: +8.2%; Gross income: +4.0%; Pre-provision profit: +4.9%; Attributable profit: +40.1% |
| EPS, PROFITABILITY AND EFFICIENCY (%) |
2Q’14 | 1Q’14 | (%) | 1H’14 | 1H’13 | (%) | 2013 | |||||||||||||||||||||
| EPS (euro) |
0.122 | 0.113 | 7.7 | 0.236 | 0.214 | 10.2 | 0.403 | |||||||||||||||||||||
| ROE |
6.90 | 6.24 | 6.58 | 5.60 | 5.42 | |||||||||||||||||||||||
| ROTE |
10.03 | 9.00 | 9.52 | 8.21 | 7.87 | |||||||||||||||||||||||
| ROA |
0.60 | 0.55 | 0.57 | 0.46 | 0.45 | |||||||||||||||||||||||
| RoRWA** |
1.28 | 1.19 | 1.23 | |||||||||||||||||||||||||
| Efficiency ratio (with amortisations) |
46.78 | 47.88 | 47.32 | 47.08 | 48.07 | |||||||||||||||||||||||
| SOLVENCY AND NPL RATIOS (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| CET1** |
10.92 | 10.77 | 10.92 | |||||||||||||||||||||||||
| NPL ratio |
5.45 | 5.52 | 5.45 | 5.15 | 5.61 | |||||||||||||||||||||||
| Coverage ratio |
66.7 | 66.3 | 66.7 | 69.7 | 64.9 | |||||||||||||||||||||||
| MARKET CAPITALISATION AND SHARES (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Shares (million at period-end) |
11,778 | 11,561 | 1.9 | 11,778 | 10,810 | 9.0 | 11,333 | |||||||||||||||||||||
| Share price (euros) |
7.630 | 6.921 | 10.2 | 7.630 | 4.902 | 55.7 | 6.506 | |||||||||||||||||||||
| Market capitalisation (EUR million) |
89,867 | 80,014 | 12.3 | 89,867 | 52,989 | 69.6 | 73,735 | |||||||||||||||||||||
| Book value (euro) |
7.40 | 7.41 | 7.40 | 7.71 | 7.44 | |||||||||||||||||||||||
| Price / Book value (X) |
1.03 | 0.93 | 1.03 | 0.64 | 0.87 | |||||||||||||||||||||||
| P/E ratio (X) |
16.20 | 15.26 | 16.20 | 11.46 | 16.13 | |||||||||||||||||||||||
| OTHER DATA (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Number of shareholders |
3,279,897 | 3,299,097 | (0.6 | ) | 3,279,897 | 3,292,650 | (0.4 | ) | 3,299,026 | |||||||||||||||||||
| Number of employees |
183,648 | 185,165 | (0.8 | ) | 183,648 | 189,920 | (3.3 | ) | 186,540 | |||||||||||||||||||
| Number of branches |
13,225 | 13,735 | (3.7 | ) | 13,225 | 14,680 | (9.9 | ) | 13,927 | |||||||||||||||||||
| (**) | Considering Spanish regulation homogeneous with European one regarding intangible assets. March 2014 data under the same criteria. |
| Note: | The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on July, 24 2014, following a favourable report from the Audit Committee on July, 22 2014. |
| JANUARY - JUNE |
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Key consolidated data | |||||||
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Highlights of the period | |||||||
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General background | |||||||
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Consolidated financial report | |||||||
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Risk management | |||||||
| 21 |
The Santander share | |||||||
| 22 |
Information by principal segments | |||||||
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Information by secondary segments | |||||||
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Corporate Governance | |||||||
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Significant events in the quarter and subsequent ones | |||||||
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Corporate social responsibility | |||||||
| At Banco Santander, we take advantage of new communication technologies and the social networks to improve dialogue with our stakeholders.
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Preliminary note:
In order to facilitate the following comparative analysis, the financial information of previous periods has been re-expressed (not audited), as set out on page 22 of this report. The changes were mainly due to taking control of Santander Consumer USA, in 2014, and the loss of control of the fund management companies in 2013, as if they had been effective in the previously presented periods.
Non recurring capital gains and provisions are shown separately as “net capital gains and provisions”.
| BALANCE SHEET (EUR million) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Total assets |
1,188,043 | 1,168,718 | 1.7 | 1,188,043 | 1,239,415 | (4.1 | ) | 1,134,003 | ||||||||||||||||||||
| Net customer loans |
706,899 | 694,595 | 1.8 | 706,899 | 715,023 | (1.1 | ) | 684,690 | ||||||||||||||||||||
| Customer deposits |
617,761 | 620,135 | (0.4 | ) | 617,761 | 644,934 | (4.2 | ) | 607,836 | |||||||||||||||||||
| Managed and marketed customer funds |
982,494 | 966,704 | 1.6 | 982,494 | 991,774 | (0.9 | ) | 946,210 | ||||||||||||||||||||
| Shareholders’ equity |
87,035 | 85,631 | 1.6 | 87,035 | 83,202 | 4.6 | 84,302 | |||||||||||||||||||||
| Total managed and marketed funds |
1,342,238 | 1,313,014 | 2.2 | 1,342,238 | 1,371,542 | (2.1 | ) | 1,269,917 | ||||||||||||||||||||
| INCOME STATEMENT* (EUR million) |
2Q’14 | 1Q’14 | (%) | 1H’14 | 1H’13 | (%) | 2013 | |||||||||||||||||||||
| Net interest income |
7,370 | 6,992 | 5.4 | 14,362 | 14,544 | (1.3 | ) | 28,419 | ||||||||||||||||||||
| Gross income |
10,488 | 10,124 | 3.6 | 20,611 | 21,570 | (4.4 | ) | 41,931 | ||||||||||||||||||||
| Pre-provision profit (net operating income) |
5,582 | 5,277 | 5.8 | 10,858 | 11,414 | (4.9 | ) | 21,773 | ||||||||||||||||||||
| Profit before taxes |
2,435 | 2,149 | 13.3 | 4,584 | 3,953 | 16.0 | 7,637 | |||||||||||||||||||||
| Attributable profit to the Group |
1,453 | 1,303 | 11.6 | 2,756 | 2,255 | 22.2 | 4,370 | |||||||||||||||||||||
| (*).- | Variations w/o exchange rate |
| Quarterly: Net interest income: +3.3%; Gross income: +1.8%; Pre-provision profit: +3.7%; Attributable profit: +9.5% |
| Year-on-year: Net interest income: +8.2%; Gross income: +4.0%; Pre-provision profit: +4.9%; Attributable profit: +40.1% |
| EPS, PROFITABILITY AND EFFICIENCY (%) |
2Q’14 | 1Q’14 | (%) | 1H’14 | 1H’13 | (%) | 2013 | |||||||||||||||||||||
| EPS (euro) |
0.122 | 0.113 | 7.7 | 0.236 | 0.214 | 10.2 | 0.403 | |||||||||||||||||||||
| ROE |
6.90 | 6.24 | 6.58 | 5.60 | 5.42 | |||||||||||||||||||||||
| ROTE |
10.03 | 9.00 | 9.52 | 8.21 | 7.87 | |||||||||||||||||||||||
| ROA |
0.60 | 0.55 | 0.57 | 0.46 | 0.45 | |||||||||||||||||||||||
| RoRWA** |
1.28 | 1.19 | 1.23 | |||||||||||||||||||||||||
| Efficiency ratio (with amortisations) |
46.78 | 47.88 | 47.32 | 47.08 | 48.07 | |||||||||||||||||||||||
| SOLVENCY AND NPL RATIOS (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| CET1** |
10.92 | 10.77 | 10.92 | |||||||||||||||||||||||||
| NPL ratio |
5.45 | 5.52 | 5.45 | 5.15 | 5.61 | |||||||||||||||||||||||
| Coverage ratio |
66.7 | 66.3 | 66.7 | 69.7 | 64.9 | |||||||||||||||||||||||
| MARKET CAPITALISATION AND SHARES (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Shares (million at period-end) |
11,778 | 11,561 | 1.9 | 11,778 | 10,810 | 9.0 | 11,333 | |||||||||||||||||||||
| Share price (euros) |
7.630 | 6.921 | 10.2 | 7.630 | 4.902 | 55.7 | 6.506 | |||||||||||||||||||||
| Market capitalisation (EUR million) |
89,867 | 80,014 | 12.3 | 89,867 | 52,989 | 69.6 | 73,735 | |||||||||||||||||||||
| Book value (euro) |
7.40 | 7.41 | 7.40 | 7.71 | 7.44 | |||||||||||||||||||||||
| Price / Book value (X) |
1.03 | 0.93 | 1.03 | 0.64 | 0.87 | |||||||||||||||||||||||
| P/E ratio (X) |
16.20 | 15.26 | 16.20 | 11.46 | 16.13 | |||||||||||||||||||||||
| OTHER DATA (%) |
Jun’14 | Mar’14 | (%) | Jun’14 | Jun’13 | (%) | 2013 | |||||||||||||||||||||
| Number of shareholders |
3,279,897 | 3,299,097 | (0.6 | ) | 3,279,897 | 3,292,650 | (0.4 | ) | 3,299,026 | |||||||||||||||||||
| Number of employees |
183,648 | 185,165 | (0.8 | ) | 183,648 | 189,920 | (3.3 | ) | 186,540 | |||||||||||||||||||
| Number of branches |
13,225 | 13,735 | (3.7 | ) | 13,225 | 14,680 | (9.9 | ) | 13,927 | |||||||||||||||||||
| (**) | Considering Spanish regulation homogeneous with European one regarding intangible assets. March 2014 data under the same criteria. |
| Note: | The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on July, 24 2014, following a favourable report from the Audit Committee on July, 22 2014. |
| JANUARY - JUNE |
|
| 4 | FINANCIAL REPORT 2014 | HIGHLIGHTS OF THE PERIOD |
| è | Income statement: (more detail on pages 7—10) |
| • | The second quarter attributable profit of EUR 1,453 million was the highest of the last nine quarters and underscores the new cycle of higher profits and profitability begun by the Group. |
| • | Profit was 11.6% higher than the first quarter’s, fuelled by the improvement in all the main P&L lines: improved customer business, reflected in higher net interest income and fee income, control of costs and reduced provisions. |
| • | The attributable profit for the first half of 2014 was EUR 2,756 million, up 22.2% year-on.year, affected by the negative impact of exchange rates. Excluding this, the increase was 40.1%, as follows: |
| • | Gross income rose 4.0% and its quality improved as 93% of the increase came from net interest income and net fee income (90% in the first half of 2013). This was due to good management of volumes and spreads and boosting transactions and linkage. |
| • | Operating expenses increased 2.9% due to the net result between higher costs for business development and commercial transformation in some countries such as Mexico, the UK and US, and obtaining synergies in others. Of note among the latter were Spain and Poland. |
| • | Provisions were 10.9% lower, with falls in all countries and particularly in Brazil and Spain. The Group’s cost of credit improved from 2.14% in the first half of 2013 to 1.56% a year later. |
| • | The Group recorded various capital gains and provisions in the first half considered as non-recurring. To facilitate the comparisons of the various P&L lines with previous periods, all these operations have been incorporated into “Net capital gains and provisions”. Their net amount is zero and so there is no impact on the first half profit. |
| è | Strong balance sheet: (more detail on pages 11—20) |
| • | The Common Equity Tier 1 (CET1) ratio phase-in was 10.9% at the end of June, and total capital ratio 12.1%, well above the minimum requirement of 8%. The leverage ratio (equity/assets according to CRD IV) was 4.5%. |
| • | The Group’s liquidity ratio (net loan-to-deposit ratio) remained at a very comfortable level of 114% at the end of June. Spain’s ratio was 87%. |
| • | Volumes reflect the different moment of the countries’ macroeconomic environment and the Group’s various strategies in each of them. Emerging countries’ lending and deposits plus mutual funds were 8% and 12% higher, respectively, than in June 2013. Although mature countries dropped 1% in both cases, as a result of deleveraging in some countries and the strategy of cutting the cost of funds, the trend improved in recent months: +2% in loans and funds since the end of 2013 (excluding the exchange rate impact). |
| • | The Group’s NPL ratio stood at 5.45% and coverage was 67%. Both were better over March 2014 and the end of 2013. |
| • | Of note in the second quarter was the good performance in entries of NPLs, consolidating the decline shown in the first quarter. They were 52% lower than June 2013. |
| è | Commercial strategy: (more detail on page 55) |
| • | The ongoing programme to transform Retail Banking was begun in 2013. Some of its main initiatives are: |
| • | Launch of Santander Advance: this is an innovative value proposal to support the growth of SMEs. After the launch in Spain, it is being rolled out in Mexico, Brazil, the UK and Portugal this year and in the rest of countries in 2015. New lending and the capturing of clients improved in the first two months, while more than 3,000 SMEs and micro firms took part in non-financial activities. |
| • | Launch of Santander Trade Club, enabling exporters and importers to get to know one another, interact and be connected in order to generate new international business opportunities. The Pasaporte service was also launched. |
| • | Santander Select established in all countries. After its implementation in Spain, UK, Mexico, Chile, Argentina and Brazil in 2013 and in Portugal and the US in the first half of 2014, it will be launched in the rest of the Group’s countries during the rest of the year. |
| è | The Santander share: (more detail on page 21) |
| • | The share price at the end of June was EUR 7.630 (+10.2% in the quarter and +55.7% y-o-y). The total shareholders’ return, including the dividend remuneration, was 71.3% in the last 12 months. |
| • | In April, and under the Santander Dividendo Elección programme (scrip dividend), shareholders were able to opt to receive in cash or in shares the amount equivalent to the fourth dividend for 2013 (EUR 0.149 per share). The total remuneration for 2013 was EUR 0.604. |
| • | In July, shareholders can opt to receive the amount equivalent to the first dividend for 2014 (EUR 0.15) in cash or shares. The second option was chosen by 87.4% of capital. |
|
|
JANUARY - JUNE |
| HIGHLIGHTS OF THE PERIOD | FINANCIAL REPORT 2014 | 5 |
| è | Business areas: (more detail on pages 22—60) |
| • | Continental Europe: attributable profit of EUR 499 million in the second quarter, 7.8% more than the first quarter, due to net interest income (+4.5%), control of costs (-1.5%) and lower provisions (-2.6%). The first half profit was EUR 962 million, 74.7% more than the same period of 2013 and with a similar evolution to that in the second quarter. |
| • | United Kingdom: attributable profit of £325 million, 4.6% more than in the first quarter. Net interest income grew for the sixth quarter running (+3.1%), costs were virtually unchanged (-0.5%) and provisions 28.8% lower. The first half profit was £636 million (+53.6% y-o-y). |
| • | Latin America: second quarter attributable profit of EUR 800 million, 9.6% more than the first quarter (excluding the forex impact). Gross income rose 1.7%, thanks to net interest income and fee income, moderation in costs (+0.6%, partly due to salary agreements) and lower provisions (-0.9%, due to Brazil). First half profit was 0.7% lower at EUR 1,512 million, due to a higher tax charge. Pre-tax profit increased 5.3%. |
| • | United States: second quarter attributable profit of $272 million, 25.8% more than the first quarter. Gross income (+4.2%), due to net interest income and fee income, stable costs (-0.5%) and lower provisions (-8.6%) because of reduced needs at SCUSA. The first half profit was $488 million, 21.8% less year-on-year, due to greater provisions at SCUSA linked to more new lending. |
| è | Other significant events: (more detail on page 62) |
| • | During the second quarter and the time elapsed until the release of this report, the following events occurred, with a possible impact on the Group’s activity and business: |
| • | Offer to acquire the minority interests of Banco Santander Brazil. |
| • | Issuance of additional Tier 1 capital. |
| • | Alliance with Warburg Pincus in custody business. |
| • | Agreement to acquire GE Capital’s consumer finance business in the Nordic countries. |
| • | Alliance to develop Santander Consumer Finance’s insurance business. |
| • | Agreement signed with Banque PSA Finance to develop auto finance in 11 countries. |
| JANUARY - JUNE |
|
| 6 | FINANCIAL REPORT 2014 | GENERAL BACKGROUND |
General background
n EXCHANGE RATES: PARITY 1 EURO / CURRENCY PARITY
| Average (income statement) | Period-end (balance sheet) | |||||||||||||||||||
| 1H’14 | 1H’13 | 30.06.14 | 31.12.13 | 30.06.13 | ||||||||||||||||
| US$ |
1.370 | 1.313 | 1.366 | 1.379 | 1.308 | |||||||||||||||
| Pound sterling |
0.821 | 0.851 | 0.802 | 0.834 | 0.857 | |||||||||||||||
| Brazilian real |
3.146 | 2.664 | 3.000 | 3.258 | 2.890 | |||||||||||||||
| Mexican peso |
17.972 | 16.471 | 17.712 | 18.073 | 17.041 | |||||||||||||||
| Chilean peso |
757.663 | 628.016 | 754.058 | 724.579 | 661.521 | |||||||||||||||
| Argentine peso |
10.688 | 6.725 | 11.106 | 8.990 | 7.032 | |||||||||||||||
| Polish zloty |
4.175 | 4.176 | 4.157 | 4.154 | 4.338 | |||||||||||||||
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 7 |
n INCOME STATEMENT (EUR million)
| Variation | Variation | |||||||||||||||||||||||||||||||
| 2Q’14 | 1Q’14 | % | % w/o FX | 1H’14 | 1H’13 | % | % w/o FX | |||||||||||||||||||||||||
| Net interest income |
7,370 | 6,992 | 5.4 | 3.3 | 14,362 | 14,544 | (1.3 | ) | 8.2 | |||||||||||||||||||||||
| Net fees |
2,403 | 2,331 | 3.1 | 1.4 | 4,733 | 4,977 | (4.9 | ) | 3.2 | |||||||||||||||||||||||
| Gains (losses) on financial transactions |
511 | 767 | (33.3 | ) | (33.4 | ) | 1,278 | 1,848 | (30.9 | ) | (27.7 | ) | ||||||||||||||||||||
| Other operating income |
204 | 34 | 499.0 | 494.6 | 238 | 200 | 19.0 | 20.8 | ||||||||||||||||||||||||
| Dividends |
220 | 31 | 597.5 | 597.0 | 251 | 204 | 22.9 | 25.9 | ||||||||||||||||||||||||
| Income from equity-accounted method |
42 | 65 | (35.4 | ) | (38.4 | ) | 108 | 124 | (12.9 | ) | 2.4 | |||||||||||||||||||||
| Other operating income/expenses |
(58 | ) | (63 | ) | (7.8 | ) | (10.8 | ) | (121 | ) | (128 | ) | (5.6 | ) | 12.3 | |||||||||||||||||
| Gross income |
10,488 | 10,124 | 3.6 | 1.8 | 20,611 | 21,570 | (4.4 | ) | 4.0 | |||||||||||||||||||||||
| Operating expenses |
(4,906 | ) | (4,847 | ) | 1.2 | (0.3 | ) | (9,753 | ) | (10,155 | ) | (4.0 | ) | 2.9 | ||||||||||||||||||
| General administrative expenses |
(4,360 | ) | (4,256 | ) | 2.4 | 0.9 | (8,616 | ) | (8,982 | ) | (4.1 | ) | 2.9 | |||||||||||||||||||
| Personnel |
(2,515 | ) | (2,455 | ) | 2.5 | 1.0 | (4,970 | ) | (5,238 | ) | (5.1 | ) | 1.5 | |||||||||||||||||||
| Other general administrative expenses |
(1,844 | ) | (1,801 | ) | 2.4 | 0.8 | (3,646 | ) | (3,744 | ) | (2.6 | ) | 4.9 | |||||||||||||||||||
| Depreciation and amortisation |
(546 | ) | (590 | ) | (7.5 | ) | (8.9 | ) | (1,137 | ) | (1,173 | ) | (3.1 | ) | 3.0 | |||||||||||||||||
| Net operating income |
5,582 | 5,277 | 5.8 | 3.7 | 10,858 | 11,414 | (4.9 | ) | 4.9 | |||||||||||||||||||||||
| Net loan-loss provisions |
(2,638 | ) | (2,695 | ) | (2.1 | ) | (4.1 | ) | (5,333 | ) | (6,541 | ) | (18.5 | ) | (10.9 | ) | ||||||||||||||||
| Impairment losses on other assets |
(71 | ) | (87 | ) | (18.7 | ) | (19.0 | ) | (157 | ) | (237 | ) | (33.5 | ) | (32.5 | ) | ||||||||||||||||
| Other income |
(438 | ) | (347 | ) | 26.3 | 23.6 | (784 | ) | (684 | ) | 14.6 | 20.0 | ||||||||||||||||||||
| Ordinary profit before taxes |
2,435 | 2,149 | 13.3 | 11.1 | 4,584 | 3,953 | 16.0 | 31.8 | ||||||||||||||||||||||||
| Tax on profit |
(664 | ) | (569 | ) | 16.6 | 14.3 | (1,233 | ) | (1,030 | ) | 19.7 | 34.9 | ||||||||||||||||||||
| Ordinary profit from continuing operations |
1,771 | 1,579 | 12.1 | 10.0 | 3,351 | 2,922 | 14.7 | 30.7 | ||||||||||||||||||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | 1.6 | 1.9 | (0 | ) | (14 | ) | (98.2 | ) | (98.3 | ) | ||||||||||||||||||
| Ordinary consolidated profit |
1,771 | 1,579 | 12.1 | 10.0 | 3,350 | 2,908 | 15.2 | 31.4 | ||||||||||||||||||||||||
| Minority interests |
318 | 277 | 14.9 | 12.4 | 594 | 653 | (9.0 | ) | 2.1 | |||||||||||||||||||||||
| Ordinary attributable profit to the Group |
1,453 | 1,303 | 11.6 | 9.5 | 2,756 | 2,255 | 22.2 | 40.1 | ||||||||||||||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||
| Attributable profit to the Group |
1,453 | 1,303 | 11.6 | 9.5 | 2,756 | 2,255 | 22.2 | 40.1 | ||||||||||||||||||||||||
| EPS (euros) |
0.122 | 0.113 | 7.7 | 0.236 | 0.214 | 10.2 | ||||||||||||||||||||||||||
| Diluted EPS (euros) |
0.122 | 0.113 | 7.7 | 0.235 | 0.213 | 10.5 | ||||||||||||||||||||||||||
| Pro memoria: |
||||||||||||||||||||||||||||||||
| Average total assets |
1,179,715 | 1,155,326 | 2.1 | 1,167,350 | 1,266,263 | (7.8 | ) | |||||||||||||||||||||||||
| Average shareholders’ equity |
84,224 | 83,460 | 0.9 | 83,772 | 80,516 | 4.0 | ||||||||||||||||||||||||||
| JANUARY - JUNE |
|
| 8 | FINANCIAL REPORT 2014 | CONSOLIDATED FINANCIAL REPORT |
n QUARTERLY INCOME STATEMENT (EUR million)
| 1Q’13 | 2Q’13 | 3Q’13 | 4Q’13 | 1Q’14 | 2Q’14 | |||||||||||||||||||
| Net interest income |
7,206 | 7,339 | 6,944 | 6,930 | 6,992 | 7,370 | ||||||||||||||||||
| Net fees |
2,484 | 2,494 | 2,300 | 2,345 | 2,331 | 2,403 | ||||||||||||||||||
| Gains (losses) on financial transactions |
967 | 880 | 995 | 653 | 767 | 511 | ||||||||||||||||||
| Other operating income |
66 | 134 | 94 | 100 | 34 | 204 | ||||||||||||||||||
| Dividends |
59 | 145 | 72 | 102 | 31 | 220 | ||||||||||||||||||
| Income from equity-accounted method |
66 | 58 | 80 | 79 | 65 | 42 | ||||||||||||||||||
| Other operating income/expenses |
(59 | ) | (69 | ) | (58 | ) | (81 | ) | (63 | ) | (58 | ) | ||||||||||||
| Gross income |
10,722 | 10,847 | 10,333 | 10,029 | 10,124 | 10,488 | ||||||||||||||||||
| Operating expenses |
(5,068 | ) | (5,088 | ) | (4,943 | ) | (5,060 | ) | (4,847 | ) | (4,906 | ) | ||||||||||||
| General administrative expenses |
(4,497 | ) | (4,485 | ) | (4,381 | ) | (4,395 | ) | (4,256 | ) | (4,360 | ) | ||||||||||||
| Personnel |
(2,631 | ) | (2,606 | ) | (2,478 | ) | (2,559 | ) | (2,455 | ) | (2,515 | ) | ||||||||||||
| Other general administrative expenses |
(1,865 | ) | (1,879 | ) | (1,902 | ) | (1,836 | ) | (1,801 | ) | (1,844 | ) | ||||||||||||
| Depreciation and amortisation |
(571 | ) | (602 | ) | (562 | ) | (665 | ) | (590 | ) | (546 | ) | ||||||||||||
| Net operating income |
5,655 | 5,760 | 5,390 | 4,968 | 5,277 | 5,582 | ||||||||||||||||||
| Net loan-loss provisions |
(3,142 | ) | (3,399 | ) | (3,025 | ) | (2,774 | ) | (2,695 | ) | (2,638 | ) | ||||||||||||
| Impairment losses on other assets |
(110 | ) | (126 | ) | (141 | ) | (146 | ) | (87 | ) | (71 | ) | ||||||||||||
| Other income |
(262 | ) | (422 | ) | (368 | ) | (220 | ) | (347 | ) | (438 | ) | ||||||||||||
| Ordinary profit before taxes |
2,141 | 1,812 | 1,856 | 1,828 | 2,149 | 2,435 | ||||||||||||||||||
| Tax on profit |
(577 | ) | (453 | ) | (518 | ) | (526 | ) | (569 | ) | (664 | ) | ||||||||||||
| Ordinary profit from continuing operations |
1,564 | 1,359 | 1,338 | 1,302 | 1,579 | 1,771 | ||||||||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | (1 | ) | (0 | ) | (0 | ) | |||||||||||||
| Ordinary consolidated profit |
1,564 | 1,345 | 1,337 | 1,301 | 1,579 | 1,771 | ||||||||||||||||||
| Minority interests |
359 | 294 | 282 | 242 | 277 | 318 | ||||||||||||||||||
| Ordinary attributable profit to the Group |
1,205 | 1,050 | 1,055 | 1,060 | 1,303 | 1,453 | ||||||||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | ||||||||||||||||||
| Attributable profit to the Group |
1,205 | 1,050 | 1,055 | 1,060 | 1,303 | 1,453 | ||||||||||||||||||
| EPS (euros) |
0.116 | 0.098 | 0.096 | 0.094 | 0.113 | 0.122 | ||||||||||||||||||
| Diluted EPS (euros) |
0.115 | 0.098 | 0.095 | 0.094 | 0.113 | 0.122 | ||||||||||||||||||
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 9 |
|
|
| JANUARY - JUNE |
|
| 10 | FINANCIAL REPORT 2014 | CONSOLIDATED FINANCIAL REPORT |
|
|
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 11 |
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | (%) | 31.12.13 | ||||||||||||||||
| ASSETS |
||||||||||||||||||||
| Cash on hand and deposits at central banks |
83,877 | 81,673 | 2,204 | 2.7 | 77,103 | |||||||||||||||
| Trading portfolio |
130,773 | 169,729 | (38,956 | ) | (23.0 | ) | 115,309 | |||||||||||||
| Debt securities |
54,115 | 51,275 | 2,840 | 5.5 | 40,841 | |||||||||||||||
| Customer loans |
1,637 | 13,776 | (12,139 | ) | (88.1 | ) | 5,079 | |||||||||||||
| Equities |
9,399 | 5,090 | 4,309 | 84.6 | 4,967 | |||||||||||||||
| Trading derivatives |
64,335 | 91,437 | (27,102 | ) | (29.6 | ) | 58,920 | |||||||||||||
| Deposits from credit institutions |
1,287 | 8,151 | (6,864 | ) | (84.2 | ) | 5,503 | |||||||||||||
| Other financial assets at fair value |
30,421 | 40,118 | (9,697 | ) | (24.2 | ) | 31,441 | |||||||||||||
| Customer loans |
11,031 | 14,389 | (3,358 | ) | (23.3 | ) | 13,255 | |||||||||||||
| Other (deposits at credit institutions, debt securities and equities) |
19,390 | 25,728 | (6,338 | ) | (24.6 | ) | 18,185 | |||||||||||||
| Available-for-sale financial assets |
90,637 | 105,661 | (15,024 | ) | (14.2 | ) | 83,799 | |||||||||||||
| Debt securities |
85,773 | 100,855 | (15,082 | ) | (15.0 | ) | 79,844 | |||||||||||||
| Equities |
4,864 | 4,805 | 59 | 1.2 | 3,955 | |||||||||||||||
| Loans |
755,264 | 746,773 | 8,491 | 1.1 | 731,420 | |||||||||||||||
| Deposits at credit institutions |
53,232 | 52,132 | 1,100 | 2.1 | 57,178 | |||||||||||||||
| Customer loans |
694,231 | 686,858 | 7,373 | 1.1 | 666,356 | |||||||||||||||
| Debt securities |
7,801 | 7,784 | 17 | 0.2 | 7,886 | |||||||||||||||
| Investments |
3,603 | 2,917 | 686 | 23.5 | 3,377 | |||||||||||||||
| Intangible assets and property and equipment |
19,739 | 17,445 | 2,294 | 13.1 | 18,137 | |||||||||||||||
| Goodwill |
26,663 | 24,913 | 1,750 | 7.0 | 24,263 | |||||||||||||||
| Other |
47,066 | 50,186 | (3,120 | ) | (6.2 | ) | 49,154 | |||||||||||||
| Total assets |
1,188,043 | 1,239,415 | (51,372 | ) | (4.1 | ) | 1,134,003 | |||||||||||||
| LIABILITIES AND SHAREHOLDER’S EQUITY |
||||||||||||||||||||
| Trading portfolio |
96,621 | 139,906 | (43,285 | ) | (30.9 | ) | 94,695 | |||||||||||||
| Customer deposits |
5,250 | 17,569 | (12,319 | ) | (70.1 | ) | 8,500 | |||||||||||||
| Marketable debt securities |
— | 1 | (1 | ) | (100.0 | ) | 1 | |||||||||||||
| Trading derivatives |
64,255 | 89,937 | (25,682 | ) | (28.6 | ) | 58,910 | |||||||||||||
| Other |
27,116 | 32,399 | (5,283 | ) | (16.3 | ) | 27,285 | |||||||||||||
| Other financial liabilities at fair value |
50,446 | 54,779 | (4,333 | ) | (7.9 | ) | 42,311 | |||||||||||||
| Customer deposits |
32,103 | 32,427 | (324 | ) | (1.0 | ) | 26,484 | |||||||||||||
| Marketable debt securities |
3,864 | 6,154 | (2,290 | ) | (37.2 | ) | 4,086 | |||||||||||||
| Due to central banks and credit institutions |
14,479 | 16,198 | (1,719 | ) | (10.6 | ) | 11,741 | |||||||||||||
| Financial liabilities at amortized cost |
914,107 | 925,497 | (11,390 | ) | (1.2 | ) | 880,115 | |||||||||||||
| Due to central banks and credit institutions |
104,111 | 103,360 | 751 | 0.7 | 92,390 | |||||||||||||||
| Customer deposits |
580,408 | 594,938 | (14,530 | ) | (2.4 | ) | 572,853 | |||||||||||||
| Marketable debt securities |
187,631 | 192,441 | (4,810 | ) | (2.5 | ) | 182,234 | |||||||||||||
| Subordinated debt |
19,043 | 16,118 | 2,925 | 18.1 | 16,139 | |||||||||||||||
| Other financial liabilities |
22,914 | 18,640 | 4,274 | 22.9 | 16,499 | |||||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 511 | 46.9 | 1,430 | |||||||||||||||
| Provisions |
15,205 | 15,148 | 57 | 0.4 | 14,485 | |||||||||||||||
| Other liability accounts |
24,346 | 21,005 | 3,341 | 15.9 | 20,409 | |||||||||||||||
| Total liabilities |
1,102,327 | 1,157,425 | (55,098 | ) | (4.8 | ) | 1,053,444 | |||||||||||||
| Shareholders’ equity |
87,035 | 83,202 | 3,833 | 4.6 | 84,740 | |||||||||||||||
| Capital stock |
5,889 | 5,405 | 484 | 9.0 | 5,667 | |||||||||||||||
| Reserves |
78,390 | 75,542 | 2,848 | 3.8 | 75,109 | |||||||||||||||
| Attributable profit to the Group |
2,756 | 2,255 | 501 | 22.2 | 4,370 | |||||||||||||||
| Less: dividends |
— | — | — | — | (406 | ) | ||||||||||||||
| Equity adjustments by valuation |
(11,857 | ) | (11,903 | ) | 46 | (0.4 | ) | (14,152 | ) | |||||||||||
| Minority interests |
10,538 | 10,691 | (153 | ) | (1.4 | ) | 9,972 | |||||||||||||
| Total equity |
85,716 | 81,990 | 3,726 | 4.5 | 80,559 | |||||||||||||||
| Total liabilities and equity |
1,188,043 | 1,239,415 | (51,372 | ) | (4.1 | ) | 1,134,003 | |||||||||||||
| JANUARY - JUNE |
|
| 12 | FINANCIAL REPORT 2014 | CONSOLIDATED FINANCIAL REPORT |
n CUSTOMER LOANS (EUR million)
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | (%) | 31.12.13 | ||||||||||||||||
| Spanish Public sector |
16,227 | 17,634 | (1,407 | ) | (8.0 | ) | 13,374 | |||||||||||||
| Other residents |
162,352 | 171,494 | (9,142 | ) | (5.3 | ) | 160,478 | |||||||||||||
| Commercial bills |
6,689 | 7,654 | (965 | ) | (12.6 | ) | 7,301 | |||||||||||||
| Secured loans |
98,962 | 97,997 | 965 | 1.0 | 96,420 | |||||||||||||||
| Other loans |
56,701 | 65,843 | (9,142 | ) | (13.9 | ) | 56,757 | |||||||||||||
| Non-resident sector |
555,784 | 553,546 | 2,238 | 0.4 | 537,587 | |||||||||||||||
| Secured loans |
339,213 | 329,471 | 9,742 | 3.0 | 320,629 | |||||||||||||||
| Other loans |
216,571 | 224,075 | (7,504 | ) | (3.3 | ) | 216,958 | |||||||||||||
| Gross customer loans |
734,363 | 742,675 | (8,312 | ) | (1.1 | ) | 711,439 | |||||||||||||
| Loan-loss allowances |
27,464 | 27,652 | (188 | ) | (0.7 | ) | 26,749 | |||||||||||||
| Net customer loans |
706,899 | 715,023 | (8,124 | ) | (1.1 | ) | 684,690 | |||||||||||||
| Pro memoria: Doubtful loans |
40,948 | 39,681 | 1,267 | 3.2 | 41,088 | |||||||||||||||
| Public sector |
126 | 117 | 10 | 8.4 | 99 | |||||||||||||||
| Other residents |
21,003 | 19,201 | 1,802 | 9.4 | 21,763 | |||||||||||||||
| Non-resident sector |
19,819 | 20,363 | (544 | ) | (2.7 | ) | 19,226 | |||||||||||||
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 13 |
| JANUARY - JUNE |
|
| 14 | FINANCIAL REPORT 2014 | CONSOLIDATED FINANCIAL REPORT |
MANAGED AND MARKETED CUSTOMER FUNDS (EUR million)
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | (%) | 31.12.13 | ||||||||||||||||
| Resident public sector |
7,357 | 10,734 | (3,377 | ) | (31.5 | ) | 7,745 | |||||||||||||
| Other residents |
163,548 | 167,266 | (3,718 | ) | (2.2 | ) | 161,649 | |||||||||||||
| Demand deposits |
79,661 | 76,274 | 3,387 | 4.4 | 74,969 | |||||||||||||||
| Time deposits |
77,913 | 83,227 | (5,314 | ) | (6.4 | ) | 80,146 | |||||||||||||
| Other |
5,974 | 7,764 | (1,790 | ) | (23.1 | ) | 6,535 | |||||||||||||
| Non-resident sector |
446,855 | 466,934 | (20,078 | ) | (4.3 | ) | 438,442 | |||||||||||||
| Demand deposits |
244,068 | 232,969 | 11,098 | 4.8 | 230,715 | |||||||||||||||
| Time deposits |
155,736 | 168,611 | (12,875 | ) | (7.6 | ) | 161,300 | |||||||||||||
| Other |
47,052 | 65,354 | (18,302 | ) | (28.0 | ) | 46,427 | |||||||||||||
| Customer deposits |
617,761 | 644,934 | (27,173 | ) | (4.2 | ) | 607,836 | |||||||||||||
| Debt securities* |
191,495 | 198,595 | (7,100 | ) | (3.6 | ) | 186,321 | |||||||||||||
| Subordinated debt |
19,043 | 16,118 | 2,925 | 18.1 | 16,139 | |||||||||||||||
| On-balance-sheet customer funds |
828,299 | 859,647 | (31,349 | ) | (3.6 | ) | 810,296 | |||||||||||||
| Mutual funds |
119,739 | 101,598 | 18,141 | 17.9 | 103,967 | |||||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | 10,879 | |||||||||||||||
| Managed portfolios |
23,198 | 20,393 | 2,804 | 13.8 | 21,068 | |||||||||||||||
| Other managed and marketed customer funds |
154,195 | 132,127 | 22,069 | 16.7 | 135,914 | |||||||||||||||
| Managed and marketed customer funds |
982,494 | 991,774 | (9,280 | ) | (0.9 | ) | 946,210 | |||||||||||||
| (*).- | Including retail commercial paper (EUR million): 1,318 in June 2014, 7,471 in June 2013 and 3,553 in December 2013 |
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 15 |
| JANUARY - JUNE |
|
| 16 | FINANCIAL REPORT 2014 | CONSOLIDATED FINANCIAL REPORT |
n TOTAL EQUITY AND CAPITAL WITH THE NATURE OF FINANCIAL LIABILITIES (EUR million)
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | (%) | 31.12.13 | ||||||||||||||||
| Capital stock |
5,889 | 5,405 | 484 | 9.0 | 5,667 | |||||||||||||||
| Additional paid-in surplus |
36,537 | 37,119 | (582 | ) | (1.6 | ) | 36,804 | |||||||||||||
| Reserves |
41,990 | 38,502 | 3,488 | 9.1 | 38,314 | |||||||||||||||
| Treasury stock |
(137 | ) | (79 | ) | (58 | ) | 74.4 | (9 | ) | |||||||||||
| Shareholders’ equity (before profit and dividends) |
84,279 | 80,947 | 3,332 | 4.1 | 80,776 | |||||||||||||||
| Attributable profit |
2,756 | 2,255 | 501 | 22.2 | 4,370 | |||||||||||||||
| Interim dividend distributed |
— | — | — | — | (406 | ) | ||||||||||||||
| Interim dividend not distributed |
— | — | — | — | (438 | ) | ||||||||||||||
| Shareholders’ equity (after retained profit) |
87,035 | 83,202 | 3,833 | 4.6 | 84,302 | |||||||||||||||
| Valuation adjustments |
(11,857 | ) | (11,903 | ) | 46 | (0.4 | ) | (14,152 | ) | |||||||||||
| Minority interests |
10,538 | 10,691 | (153 | ) | (1.4 | ) | 9,972 | |||||||||||||
| Total equity (after retained profit) |
85,716 | 81,990 | 3,726 | 4.5 | 80,122 | |||||||||||||||
| Preferred shares and securities in subordinated debt |
6,822 | 4,642 | 2,180 | 47.0 | 4,053 | |||||||||||||||
| Total equity and capital with the nature of financial liabilities |
92,538 | 86,632 | 5,906 | 6.8 | 84,175 | |||||||||||||||
|
|
JANUARY - JUNE |
| CONSOLIDATED FINANCIAL REPORT | FINANCIAL REPORT 2014 | 17 |
Rating agencies
| JANUARY - JUNE |
|
| 18 | FINANCIAL REPORT 2014 | RISK MANAGEMENT |
|
|
JANUARY - JUNE |
| RISK MANAGEMENT | FINANCIAL REPORT 2014 | 19 |
| JANUARY - JUNE |
|
| 20 | FINANCIAL REPORT 2014 | RISK MANAGEMENT |
n NON-PERFORMING LOANS BY QUARTER (EUR million)
| 1Q’13 | 2Q’13 | 3Q’13 | 4Q’13 | 1Q’14 | 2Q’14 | |||||||||||||||||||
| Balance at beginning of period |
36,761 | 38,693 | 40,712 | 41,899 | 42,420 | 42,300 | ||||||||||||||||||
| Net additions |
4,167 | 6,294 | 4,722 | 4,517 | 2,536 | 2,535 | ||||||||||||||||||
| Increase in scope of consolidation |
743 | — | — | — | 148 | — | ||||||||||||||||||
| Exchange differences |
300 | (1,283 | ) | (447 | ) | (781 | ) | 96 | 293 | |||||||||||||||
| Write-offs |
(3,278 | ) | (2,991 | ) | (3,088 | ) | (3,215 | ) | (2,900 | ) | (2,793 | ) | ||||||||||||
| Balance at period-end |
38,693 | 40,712 | 41,899 | 42,420 | 42,300 | 42,334 | ||||||||||||||||||
|
|
JANUARY - JUNE |
| THE SANTANDER SHARE | FINANCIAL REPORT 2014 | 21 |
| JANUARY - JUNE |
|
| 22 | FINANCIAL REPORT 2014 | INFORMATION BY SEGMENTS |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 23 |
¢ NET OPERATING INCOME (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| Continental Europe |
1,673 | 5.3 | 5.2 | 3,263 | 6.5 | 6.8 | ||||||||||||||||||
| o/w: Spain |
909 | 1.2 | 1.2 | 1,807 | 7.4 | 7.4 | ||||||||||||||||||
| Portugal |
116 | 9.5 | 9.5 | 222 | 1.7 | 1.7 | ||||||||||||||||||
| Poland |
205 | 9.3 | 8.9 | 393 | 11.0 | 11.0 | ||||||||||||||||||
| Santander Consumer Finance |
470 | 8.3 | 8.3 | 904 | 5.3 | 5.3 | ||||||||||||||||||
| United Kingdom |
654 | 3.0 | 1.4 | 1,290 | 22.7 | 18.4 | ||||||||||||||||||
| Latin America |
2,802 | 6.2 | 2.5 | 5,440 | (18.2 | ) | (3.2 | ) | ||||||||||||||||
| o/w: Brazil |
1,791 | 4.2 | (1.7 | ) | 3,509 | (24.0 | ) | (10.2 | ) | |||||||||||||||
| Mexico |
463 | 13.9 | 12.1 | 870 | (9.6 | ) | (1.3 | ) | ||||||||||||||||
| Chile |
341 | 2.7 | 3.3 | 672 | 6.2 | 28.1 | ||||||||||||||||||
| USA |
886 | 6.7 | 6.9 | 1,716 | 17.4 | 22.5 | ||||||||||||||||||
| Operating areas |
6,016 | 5.7 | 3.7 | 11,708 | (4.2 | ) | 4.9 | |||||||||||||||||
| Corporate Activities |
(434 | ) | 4.3 | 3.1 | (850 | ) | 4.6 | 4.6 | ||||||||||||||||
| Total Group |
5,582 | 5.8 | 3.7 | 10,858 | (4.9 | ) | 4.9 | |||||||||||||||||
| ¢ ATTRIBUTABLE PROFIT (EUR million) | ||||||||||||||||||||||||
| Continental Europe |
499 | 7.8 | 7.6 | 962 | 74.7 | 76.2 | ||||||||||||||||||
| o/w: Spain |
261 | 3.8 | 3.8 | 513 | 78.8 | 78.8 | ||||||||||||||||||
| Portugal |
39 | 9.6 | 9.6 | 74 | 62.6 | 62.6 | ||||||||||||||||||
| Poland |
88 | 3.5 | 3.1 | 173 | 7.0 | 7.0 | ||||||||||||||||||
| Santander Consumer Finance |
237 | 8.6 | 8.6 | 456 | 21.0 | 21.0 | ||||||||||||||||||
| United Kingdom |
399 | 6.3 | 4.6 | 775 | 59.1 | 53.6 | ||||||||||||||||||
| Latin America |
800 | 12.4 | 9.6 | 1,512 | (16.2 | ) | (0.7 | ) | ||||||||||||||||
| o/w: Brazil |
395 | 8.5 | 2.6 | 758 | (17.5 | ) | (2.5 | ) | ||||||||||||||||
| Mexico |
169 | 22.2 | 20.3 | 307 | (30.4 | ) | (24.0 | ) | ||||||||||||||||
| Chile |
132 | 7.6 | 8.2 | 255 | 27.1 | 53.3 | ||||||||||||||||||
| USA |
199 | 25.7 | 25.8 | 356 | (25.1 | ) | (21.8 | ) | ||||||||||||||||
| Operating areas |
1,897 | 11.1 | 9.5 | 3,605 | 8.7 | 19.0 | ||||||||||||||||||
| Corporate Activities |
(444 | ) | 9.4 | — | (849 | ) | (20.1 | ) | (20.1 | ) | ||||||||||||||
| Total Group |
1,453 | 11.6 | 9.5 | 2,756 | 22.2 | 40.1 | ||||||||||||||||||
| ¢ CUSTOMER LOANS (EUR million) | ||||||||||||||||||||||||
| Continental Europe |
267,071 | 0.7 | 0.7 | 267,071 | (4.1 | ) | (4.2 | ) | ||||||||||||||||
| o/w: Spain |
159,264 | 1.1 | 1.1 | 159,264 | (7.0 | ) | (7.0 | ) | ||||||||||||||||
| Portugal |
24,111 | (0.5 | ) | (0.5 | ) | 24,111 | (4.4 | ) | (4.4 | ) | ||||||||||||||
| Poland |
17,064 | 2.0 | 1.6 | 17,064 | 6.8 | 2.3 | ||||||||||||||||||
| Santander Consumer Finance |
58,058 | 1.1 | 1.1 | 58,058 | 3.7 | 3.7 | ||||||||||||||||||
| United Kingdom |
239,237 | 2.3 | (1.0 | ) | 239,237 | 0.4 | (6.1 | ) | ||||||||||||||||
| Latin America |
136,325 | 5.1 | 2.2 | 136,325 | 0.3 | 8.0 | ||||||||||||||||||
| o/w: Brazil |
71,475 | 4.3 | 0.1 | 71,475 | 0.3 | 4.1 | ||||||||||||||||||
| Mexico |
24,516 | 9.5 | 7.7 | 24,516 | 9.3 | 13.6 | ||||||||||||||||||
| Chile |
28,701 | 2.5 | 1.4 | 28,701 | (4.6 | ) | 8.7 | |||||||||||||||||
| USA |
60,006 | 1.6 | 0.6 | 60,006 | 2.2 | 6.7 | ||||||||||||||||||
| Operating areas |
702,640 | 2.1 | 0.4 | 702,640 | (1.2 | ) | (1.9 | ) | ||||||||||||||||
| Total Group |
706,899 | 1.8 | 0.1 | 706,899 | (1.1 | ) | (1.8 | ) | ||||||||||||||||
| ¢ CUSTOMER DEPOSITS (EUR million) | ||||||||||||||||||||||||
| Continental Europe |
254,985 | (1.2 | ) | (1.2 | ) | 254,985 | (4.7 | ) | (4.9 | ) | ||||||||||||||
| o/w: Spain |
181,065 | (1.2 | ) | (1.2 | ) | 181,065 | (6.8 | ) | (6.8 | ) | ||||||||||||||
| Portugal |
23,253 | (1.4 | ) | (1.4 | ) | 23,253 | (1.4 | ) | (1.4 | ) | ||||||||||||||
| Poland |
18,325 | (2.5 | ) | (2.9 | ) | 18,325 | 10.4 | 5.8 | ||||||||||||||||
| Santander Consumer Finance |
30,736 | 0.4 | 0.4 | 30,736 | (0.8 | ) | (0.8 | ) | ||||||||||||||||
| United Kingdom |
193,431 | (0.8 | ) | (4.0 | ) | 193,431 | (1.3 | ) | (7.7 | ) | ||||||||||||||
| Latin America |
127,903 | 1.3 | (1.4 | ) | 127,903 | (3.3 | ) | 4.0 | ||||||||||||||||
| o/w: Brazil |
68,450 | 3.8 | (0.4 | ) | 68,450 | (1.1 | ) | 2.7 | ||||||||||||||||
| Mexico |
24,803 | (3.1 | ) | (4.7 | ) | 24,803 | (6.4 | ) | (2.7 | ) | ||||||||||||||
| Chile |
19,929 | (2.5 | ) | (3.6 | ) | 19,929 | (9.3 | ) | 3.4 | |||||||||||||||
| USA |
39,878 | 0.8 | (0.1 | ) | 39,878 | (4.2 | ) | 0.0 | ||||||||||||||||
| Operating areas |
616,197 | (0.4 | ) | (2.1 | ) | 616,197 | (3.3 | ) | (3.8 | ) | ||||||||||||||
| Total Group |
617,761 | (0.4 | ) | (2.0 | ) | 617,761 | (4.2 | ) | (4.7 | ) | ||||||||||||||
| JANUARY - JUNE |
|
| 24 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
n CONTINENTAL EUROPE (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
2,188 | 4.5 | 4.4 | 4,282 | 5.4 | 5.8 | ||||||||||||||||||
| Net fees |
889 | 1.0 | 0.9 | 1,769 | 0.2 | 0.2 | ||||||||||||||||||
| Gains (losses) on financial transactions |
63 | (73.0 | ) | (73.0 | ) | 296 | (25.2 | ) | (25.2 | ) | ||||||||||||||
| Other operating income* |
116 | — | — | 106 | (4.3 | ) | (4.2 | ) | ||||||||||||||||
| Gross income |
3,256 | 1.9 | 1.8 | 6,452 | 1.9 | 2.1 | ||||||||||||||||||
| Operating expenses |
(1,582 | ) | (1.5 | ) | (1.6 | ) | (3,189 | ) | (2.5 | ) | (2.3 | ) | ||||||||||||
| General administrative expenses |
(1,413 | ) | (0.3 | ) | (0.4 | ) | (2,830 | ) | (2.7 | ) | (2.5 | ) | ||||||||||||
| Personnel |
(829 | ) | (1.4 | ) | (1.5 | ) | (1,669 | ) | (5.3 | ) | (5.1 | ) | ||||||||||||
| Other general administrative expenses |
(584 | ) | 1.3 | 1.2 | (1,161 | ) | 1.3 | 1.5 | ||||||||||||||||
| Depreciation and amortisation |
(170 | ) | (10.3 | ) | (10.4 | ) | (359 | ) | (0.9 | ) | (0.7 | ) | ||||||||||||
| Net operating income |
1,673 | 5.3 | 5.2 | 3,263 | 6.5 | 6.8 | ||||||||||||||||||
| Net loan-loss provisions |
(770 | ) | (2.6 | ) | (2.7 | ) | (1,561 | ) | (17.6 | ) | (17.5 | ) | ||||||||||||
| Other income |
(196 | ) | 29.4 | 29.3 | (348 | ) | (10.1 | ) | (10.1 | ) | ||||||||||||||
| Profit before taxes |
707 | 9.3 | 9.1 | 1,354 | 73.1 | 74.5 | ||||||||||||||||||
| Tax on profit |
(171 | ) | 15.8 | 15.6 | (318 | ) | 97.5 | 99.5 | ||||||||||||||||
| Profit from continuing operations |
536 | 7.4 | 7.2 | 1,036 | 66.8 | 68.0 | ||||||||||||||||||
| Net profit from discontinued operations |
(0 | ) | 2.5 | 1.9 | (0 | ) | 108.1 | 115.8 | ||||||||||||||||
| Consolidated profit |
536 | 7.4 | 7.2 | 1,036 | 66.8 | 68.0 | ||||||||||||||||||
| Minority interests |
37 | 2.3 | 1.9 | 74 | 4.7 | 4.7 | ||||||||||||||||||
| Attributable profit to the Group |
499 | 7.8 | 7.6 | 962 | 74.7 | 76.2 | ||||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
267,071 | 0.7 | 0.7 | 267,071 | (4.1 | ) | (4.2 | ) | ||||||||||||||||
| Trading portfolio (w/o loans) |
59,106 | 6.1 | 6.0 | 59,106 | (24.3 | ) | (24.3 | ) | ||||||||||||||||
| Available-for-sale financial assets |
40,818 | 2.1 | 2.1 | 40,818 | (7.6 | ) | (8.1 | ) | ||||||||||||||||
| Due from credit institutions** |
53,500 | (3.0 | ) | (3.0 | ) | 53,500 | (3.9 | ) | (3.9 | ) | ||||||||||||||
| Intangible assets and property and equipment |
5,500 | (5.2 | ) | (5.2 | ) | 5,500 | (9.8 | ) | (9.9 | ) | ||||||||||||||
| Other assets |
27,596 | (10.9 | ) | (11.0 | ) | 27,596 | 17.3 | 17.1 | ||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
453,591 | 0.2 | 0.2 | 453,591 | (6.7 | ) | (6.8 | ) | ||||||||||||||||
| Customer deposits** |
254,985 | (1.2 | ) | (1.2 | ) | 254,985 | (4.7 | ) | (4.9 | ) | ||||||||||||||
| Marketable debt securities** |
18,761 | 18.9 | 19.2 | 18,761 | 10.9 | 11.4 | ||||||||||||||||||
| Subordinated debt** |
409 | 0.6 | 0.3 | 409 | 17.1 | 12.5 | ||||||||||||||||||
| Insurance liabilities |
1,602 | 3.5 | 3.5 | 1,602 | 46.9 | 46.9 | ||||||||||||||||||
| Due to credit institutions** |
70,234 | 5.3 | 5.4 | 70,234 | 3.3 | 3.6 | ||||||||||||||||||
| Other liabilities |
82,307 | (2.6 | ) | (2.7 | ) | 82,307 | (22.8 | ) | (22.9 | ) | ||||||||||||||
| Shareholders’ equity*** |
25,292 | (2.1 | ) | (2.1 | ) | 25,292 | (1.2 | ) | (1.4 | ) | ||||||||||||||
| Other managed and marketed customer funds |
62,125 | 6.3 | 6.3 | 62,125 | 25.1 | 24.8 | ||||||||||||||||||
| Mutual and pension funds |
55,098 | 6.2 | 6.2 | 55,098 | 27.5 | 27.1 | ||||||||||||||||||
| Managed portfolios |
7,027 | 6.9 | 6.9 | 7,027 | 9.2 | 9.1 | ||||||||||||||||||
| Managed and marketed customer funds |
336,280 | 1.1 | 1.1 | 336,280 | 0.6 | 0.3 | ||||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
7.84 |
|
0.58 |
p. |
7.57 | 3.37 | p. | |||||||||||||||||
| Efficiency ratio (with amortisations) |
48.6 | (1.7 | p.) | 49.4 | (2.2 | p.) | ||||||||||||||||||
| NPL ratio |
9.04 | (0.08 | p.) | 9.04 | 1.21 | p. | ||||||||||||||||||
| NPL coverage |
58.3 | 0.3 | p. | 58.3 | (5.0 | p.) | ||||||||||||||||||
| Number of employees |
56,297 | (1.6 | ) | 56,297 | (6.8 | ) | ||||||||||||||||||
| Number of branches |
5,638 | (6.8 | ) | 5,638 | (16.8 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
| (*) In euros: + 5.3% |
(*) In euros: +7.8% |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 25 |
|
(*) Customer deposits + mutual funds |
(*) In euros: +1.9% |
| JANUARY - JUNE |
|
| 26 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
n SPAIN (EUR million)
| 2Q’14 | % o/ 1Q’14 | 1H’14 | % o/ 1H’13 | |||||||||||||
| INCOME STATEMENT |
||||||||||||||||
| Net interest income |
1,193 | 4.1 | 2,339 | 6.7 | ||||||||||||
| Net fees |
469 | 3.0 | 925 | (4.3 | ) | |||||||||||
| Gains (losses) on financial transactions |
29 | (85.8 | ) | 234 | (22.4 | ) | ||||||||||
| Other operating income* |
91 | — | 76 | (35.6 | ) | |||||||||||
| Gross income |
1,782 | (0.5 | ) | 3,574 | (0.1 | ) | ||||||||||
| Operating expenses |
(873 | ) | (2.3 | ) | (1,767 | ) | (6.7 | ) | ||||||||
| General administrative expenses |
(787 | ) | (1.7 | ) | (1,588 | ) | (7.3 | ) | ||||||||
| Personnel |
(488 | ) | (2.2 | ) | (986 | ) | (8.7 | ) | ||||||||
| Other general administrative expenses |
(300 | ) | (0.7 | ) | (602 | ) | (4.8 | ) | ||||||||
| Depreciation and amortisation |
(86 | ) | (7.8 | ) | (179 | ) | (1.8 | ) | ||||||||
| Net operating income |
909 | 1.2 | 1,807 | 7.4 | ||||||||||||
| Net loan-loss provisions |
(488 | ) | (3.8 | ) | (995 | ) | (17.4 | ) | ||||||||
| Other income |
(51 | ) | 52.6 | (84 | ) | 28.9 | ||||||||||
| Profit before taxes |
370 | 3.5 | 728 | 76.6 | ||||||||||||
| Tax on profit |
(110 | ) | 5.0 | (214 | ) | 72.4 | ||||||||||
| Profit from continuing operations |
261 | 2.9 | 514 | 78.4 | ||||||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
| Consolidated profit |
261 | 2.9 | 514 | 78.4 | ||||||||||||
| Minority interests |
(0 | ) | — | 2 | 4.2 | |||||||||||
| Attributable profit to the Group |
261 | 3.8 | 513 | 78.8 | ||||||||||||
| BALANCE SHEET |
||||||||||||||||
| Customer loans** |
159,264 | 1.1 | 159,264 | (7.0 | ) | |||||||||||
| Trading portfolio (w/o loans) |
56,119 | 8.7 | 56,119 | (20.5 | ) | |||||||||||
| Available-for-sale financial assets |
28,230 | 4.8 | 28,230 | (14.2 | ) | |||||||||||
| Due from credit institutions** |
35,178 | (5.7 | ) | 35,178 | (4.8 | ) | ||||||||||
| Intangible assets and property and equipment |
3,600 | (6.6 | ) | 3,600 | (9.9 | ) | ||||||||||
| Other assets |
9,936 | (28.9 | ) | 9,936 | 21.6 | |||||||||||
| Total assets/liabilities & shareholders’ equity |
292,328 | 0.4 | 292,328 | (9.7 | ) | |||||||||||
| Customer deposits** |
181,065 | (1.2 | ) | 181,065 | (6.8 | ) | ||||||||||
| Marketable debt securities** |
1,327 | (39.6 | ) | 1,327 | (82.2 | ) | ||||||||||
| Subordinated debt** |
8 | 2.0 | 8 | 6.5 | ||||||||||||
| Insurance liabilities |
526 | (4.4 | ) | 526 | 10.7 | |||||||||||
| Due to credit institutions** |
31,736 | 22.8 | 31,736 | 38.4 | ||||||||||||
| Other liabilities |
66,570 | (2.2 | ) | 66,570 | (23.5 | ) | ||||||||||
| Shareholders’ equity*** |
11,095 | (1.4 | ) | 11,095 | (4.0 | ) | ||||||||||
| Other managed and marketed customer funds |
55,383 | 6.6 | 55,383 | 31.5 | ||||||||||||
| Mutual and pension funds |
49,216 | 6.5 | 49,216 | 30.6 | ||||||||||||
| Managed portfolios |
6,167 | 7.2 | 6,167 | 39.7 | ||||||||||||
| Managed and marketed customer funds |
237,783 | 0.2 | 237,783 | (2.5 | ) | |||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||
| ROE |
9.41 | 0.41 | p. | 9.22 | 4.42 | p. | ||||||||||
| Efficiency ratio (with amortisations) |
49.0 | (0.9 | p.) | 49.4 | (3.5 | p.) | ||||||||||
| NPL ratio |
7.59 | (0.02 | p.) | 7.59 | 1.84 | p. | ||||||||||
| NPL coverage |
44.9 | 0.3 | p. | 44.9 | 1.8 | p. | ||||||||||
| Number of employees |
25,465 | (3.3 | ) | 25,465 | (11.8 | ) | ||||||||||
| Number of branches |
3,609 | (9.8 | ) | 3,609 | (21.7 | ) | ||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 27 |
| JANUARY - JUNE |
|
| 28 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 29 |
¢ PORTUGAL (EUR million)
| 2Q’14 | % o/ 1Q’14 | 1H’14 | % o/ 1H’13 | |||||||||||||
| INCOME STATEMENT |
||||||||||||||||
| Net interest income |
138 | 7.1 | 267 | 6.3 | ||||||||||||
| Net fees |
66 | (8.8 | ) | 139 | (19.0 | ) | ||||||||||
| Gains (losses) on financial transactions |
22 | 20.2 | 40 | 33.9 | ||||||||||||
| Other operating income* |
11 | 32.4 | 20 | 63.9 | ||||||||||||
| Gross income |
237 | 4.0 | 465 | 0.2 | ||||||||||||
| Operating expenses |
(121 | ) | (0.7 | ) | (243 | ) | (1.1 | ) | ||||||||
| General administrative expenses |
(104 | ) | 1.3 | (207 | ) | 0.2 | ||||||||||
| Personnel |
(73 | ) | 0.3 | (146 | ) | (1.9 | ) | |||||||||
| Other general administrative expenses |
(31 | ) | 3.8 | (60 | ) | 5.7 | ||||||||||
| Depreciation and amortisation |
(17 | ) | (11.6 | ) | (37 | ) | (8.0 | ) | ||||||||
| Net operating income |
116 | 9.5 | 222 | 1.7 | ||||||||||||
| Net loan-loss provisions |
(40 | ) | 18.7 | (75 | ) | (40.8 | ) | |||||||||
| Other income |
(29 | ) | (3.2 | ) | (59 | ) | 97.7 | |||||||||
| Profit before taxes |
47 | 11.1 | 89 | 41.3 | ||||||||||||
| Tax on profit |
(9 | ) | 5.3 | (18 | ) | 8.7 | ||||||||||
| Profit from continuing operations |
37 | 12.7 | 70 | 53.3 | ||||||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
| Consolidated profit |
37 | 12.7 | 70 | 53.3 | ||||||||||||
| Minority interests |
(2 | ) | (32.2 | ) | (4 | ) | — | |||||||||
| Attributable profit to the Group |
39 | 9.6 | 74 | 62.6 | ||||||||||||
| BALANCE SHEET |
||||||||||||||||
| Customer loans** |
24,111 | (0.5 | ) | 24,111 | (4.4 | ) | ||||||||||
| Trading portfolio (w/o loans) |
1,880 | (0.2 | ) | 1,880 | 4.8 | |||||||||||
| Available-for-sale financial assets |
7,119 | 6.1 | 7,119 | 44.3 | ||||||||||||
| Due from credit institutions** |
2,491 | (1.9 | ) | 2,491 | (30.1 | ) | ||||||||||
| Intangible assets and property and equipment |
763 | (4.7 | ) | 763 | (15.8 | ) | ||||||||||
| Other assets |
6,276 | 8.0 | 6,276 | 7.7 | ||||||||||||
| Total assets/liabilities & shareholders’ equity |
42,640 | 1.6 | 42,640 | 0.9 | ||||||||||||
| Customer deposits** |
23,253 | (1.4 | ) | 23,253 | (1.4 | ) | ||||||||||
| Marketable debt securities** |
3,811 | 69.6 | 3,811 | 59.1 | ||||||||||||
| Subordinated debt** |
0 | 79.1 | 0 | 57.2 | ||||||||||||
| Insurance liabilities |
80 | 0.9 | 80 | (8.0 | ) | |||||||||||
| Due to credit institutions** |
12,271 | (5.0 | ) | 12,271 | (8.0 | ) | ||||||||||
| Other liabilities |
641 | 27.9 | 641 | 116.6 | ||||||||||||
| Shareholders’ equity*** |
2,583 | (2.8 | ) | 2,583 | 1.4 | |||||||||||
| Other managed and marketed customer funds |
2,396 | 7.6 | 2,396 | 11.0 | ||||||||||||
| Mutual and pension funds |
2,174 | 6.2 | 2,174 | 6.1 | ||||||||||||
| Managed portfolios |
222 | 23.7 | 222 | 103.3 | ||||||||||||
| Managed and marketed customer funds |
29,460 | 5.0 | 29,460 | 4.7 | ||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||
| ROE |
5.95 | 0.56 | p. | 5.67 | 2.07 | p. | ||||||||||
| Efficiency ratio (with amortisations) |
51.0 | (2.5 | p.) | 52.2 | (0.7 | p.) | ||||||||||
| NPL ratio |
8.16 | (0.10 | p.) | 8.16 | 0.75 | p. | ||||||||||
| NPL coverage |
53.1 | 2.5 | p. | 53.1 | 0.7 | p. | ||||||||||
| Number of employees |
5,515 | 0.1 | 5,515 | (1.7 | ) | |||||||||||
| Number of branches |
626 | (1.1 | ) | 626 | (3.8 | ) | ||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
| JANUARY - JUNE |
|
| 30 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
(*) Customer deposits + mutual funds |
|
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 31 |
¢ POLAND (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
217 | 4.7 | 4.3 | 425 | 14.7 | 14.7 | ||||||||||||||||||
| Net fees |
111 | 1.2 | 0.7 | 220 | 11.4 | 11.4 | ||||||||||||||||||
| Gains (losses) on financial transactions |
7 | (39.8 | ) | (40.1 | ) | 18 | (71.7 | ) | (71.7 | ) | ||||||||||||||
| Other operating income* |
18 | 204.9 | 204.1 | 24 | 25.3 | 25.3 | ||||||||||||||||||
| Gross income |
353 | 5.6 | 5.1 | 687 | 5.5 | 5.5 | ||||||||||||||||||
| Operating expenses |
(148 | ) | 0.8 | 0.4 | (294 | ) | (1.1 | ) | (1.1 | ) | ||||||||||||||
| General administrative expenses |
(136 | ) | 0.8 | 0.4 | (270 | ) | 0.3 | 0.3 | ||||||||||||||||
| Personnel |
(76 | ) | (0.5 | ) | (0.9 | ) | (153 | ) | (3.7 | ) | (3.7 | ) | ||||||||||||
| Other general administrative expenses |
(59 | ) | 2.5 | 2.1 | (117 | ) | 6.1 | 6.1 | ||||||||||||||||
| Depreciation and amortisation |
(12 | ) | 0.9 | 0.5 | (24 | ) | (14.4 | ) | (14.4 | ) | ||||||||||||||
| Net operating income |
205 | 9.3 | 8.9 | 393 | 11.0 | 11.0 | ||||||||||||||||||
| Net loan-loss provisions |
(42 | ) | (2.4 | ) | (2.9 | ) | (85 | ) | (9.1 | ) | (9.1 | ) | ||||||||||||
| Other income |
(16 | ) | 459.5 | 458.1 | (19 | ) | — | — | ||||||||||||||||
| Profit before taxes |
147 | 3.9 | 3.4 | 289 | 10.7 | 10.7 | ||||||||||||||||||
| Tax on profit |
(28 | ) | 3.6 | 3.1 | (54 | ) | 12.3 | 12.3 | ||||||||||||||||
| Profit from continuing operations |
120 | 3.9 | 3.5 | 235 | 10.3 | 10.3 | ||||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
120 | 3.9 | 3.5 | 235 | 10.3 | 10.3 | ||||||||||||||||||
| Minority interests |
32 | 5.2 | 4.7 | 63 | 20.6 | 20.6 | ||||||||||||||||||
| Attributable profit to the Group |
88 | 3.5 | 3.1 | 173 | 7.0 | 7.0 | ||||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
17,064 | 2.0 | 1.6 | 17,064 | 6.8 | 2.3 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
799 | (1.3 | ) | (1.6 | ) | 799 | 21.4 | 16.3 | ||||||||||||||||
| Available-for-sale financial assets |
4,214 | (17.8 | ) | (18.1 | ) | 4,214 | (8.3 | ) | (12.1 | ) | ||||||||||||||
| Due from credit institutions** |
607 | (51.7 | ) | (51.8 | ) | 607 | 44.1 | 38.0 | ||||||||||||||||
| Intangible assets and property and equipment |
214 | (4.2 | ) | (4.5 | ) | 214 | (4.0 | ) | (8.0 | ) | ||||||||||||||
| Other assets |
2,570 | 12.4 | 12.0 | 2,570 | 105.3 | 96.7 | ||||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
25,467 | (3.6 | ) | (4.0 | ) | 25,467 | 10.1 | 5.5 | ||||||||||||||||
| Customer deposits** |
18,325 | (2.5 | ) | (2.9 | ) | 18,325 | 10.4 | 5.8 | ||||||||||||||||
| Marketable debt securities** |
120 | (0.6 | ) | (1.0 | ) | 120 | — | — | ||||||||||||||||
| Subordinated debt** |
336 | 0.4 | 0.0 | 336 | 1.6 | (2.7 | ) | |||||||||||||||||
| Insurance liabilities |
79 | (2.3 | ) | (2.7 | ) | 79 | — | — | ||||||||||||||||
| Due to credit institutions** |
1,562 | (29.6 | ) | (29.8 | ) | 1,562 | (8.8 | ) | (12.6 | ) | ||||||||||||||
| Other liabilities |
3,111 | 12.2 | 11.8 | 3,111 | 14.9 | 10.1 | ||||||||||||||||||
| Shareholders’ equity*** |
1,933 | (7.9 | ) | (8.2 | ) | 1,933 | 8.0 | 3.5 | ||||||||||||||||
| Other managed and marketed customer funds |
3,647 | 2.6 | 2.2 | 3,647 | 7.4 | 2.9 | ||||||||||||||||||
| Mutual and pension funds |
3,556 | 2.9 | 2.6 | 3,556 | 8.0 | 3.5 | ||||||||||||||||||
| Managed portfolios |
91 | (9.7 | ) | (10.0 | ) | 91 | (11.3 | ) | (15.0 | ) | ||||||||||||||
| Managed and marketed customer funds |
22,429 | (1.7 | ) | (2.0 | ) | 22,429 | 10.4 | 5.8 | ||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
17.79 | 1.15 | p. | 17.32 | 0.54 | p. | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
41.8 | (2.0 | p.) | 42.8 | (2.8 | p.) | ||||||||||||||||||
| NPL ratio |
7.42 | 0.07 | p. | 7.42 | (0.66 | p.) | ||||||||||||||||||
| NPL coverage |
65.3 | 0.7 | p. | 65.3 | 6.0 | p. | ||||||||||||||||||
| Number of employees |
12,058 | (0.9 | ) | 12,058 | (3.6 | ) | ||||||||||||||||||
| Number of branches |
817 | (1.6 | ) | 817 | (6.7 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
(*) In euros: +9.3% |
(*) In euros: +3.5% |
| JANUARY - JUNE |
|
| 32 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
(*) Customer deposits + mutual funds |
(*) In euros: +5.6% |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 33 |
¢ SANTANDER CONSUMER FINANCE (EUR million)
| 2Q’14 | % o/ 1Q’14 | 1H’14 | % o/ 1H’13 | |||||||||||||
| INCOME STATEMENT |
||||||||||||||||
| Net interest income |
612 | 5.4 | 1,192 | 2.0 | ||||||||||||
| Net fees |
211 | (4.0 | ) | 430 | 10.5 | |||||||||||
| Gains (losses) on financial transactions |
1 | 242.0 | 1 | — | ||||||||||||
| Other operating income* |
4 | — | 3 | — | ||||||||||||
| Gross income |
827 | 3.4 | 1,626 | 4.9 | ||||||||||||
| Operating expenses |
(357 | ) | (2.4 | ) | (722 | ) | 4.3 | |||||||||
| General administrative expenses |
(307 | ) | 0.5 | (612 | ) | 4.0 | ||||||||||
| Personnel |
(163 | ) | (0.7 | ) | (327 | ) | 1.9 | |||||||||
| Other general administrative expenses |
(144 | ) | 1.9 | (285 | ) | 6.5 | ||||||||||
| Depreciation and amortisation |
(50 | ) | (17.3 | ) | (110 | ) | 6.2 | |||||||||
| Net operating income |
470 | 8.3 | 904 | 5.3 | ||||||||||||
| Net loan-loss provisions |
(123 | ) | (5.2 | ) | (252 | ) | (16.5 | ) | ||||||||
| Other income |
(17 | ) | 26.2 | (31 | ) | (38.3 | ) | |||||||||
| Profit before taxes |
330 | 13.5 | 621 | 22.6 | ||||||||||||
| Tax on profit |
(85 | ) | 30.0 | (151 | ) | 34.1 | ||||||||||
| Profit from continuing operations |
245 | 8.7 | 470 | 19.3 | ||||||||||||
| Net profit from discontinued operations |
(0 | ) | 2.5 | (0 | ) | 108.1 | ||||||||||
| Consolidated profit |
245 | 8.7 | 470 | 19.3 | ||||||||||||
| Minority interests |
7 | 10.8 | 14 | (19.4 | ) | |||||||||||
| Attributable profit to the Group |
237 | 8.6 | 456 | 21.0 | ||||||||||||
| BALANCE SHEET |
||||||||||||||||
| Customer loans** |
58,058 | 1.1 | 58,058 | 3.7 | ||||||||||||
| Trading portfolio (w/o loans) |
270 | (69.3 | ) | 270 | (70.8 | ) | ||||||||||
| Available-for-sale financial assets |
591 | 23.7 | 591 | (2.5 | ) | |||||||||||
| Due from credit institutions** |
6,528 | (9.9 | ) | 6,528 | (5.8 | ) | ||||||||||
| Intangible assets and property and equipment |
795 | (12.9 | ) | 795 | (17.6 | ) | ||||||||||
| Other assets |
3,073 | (2.9 | ) | 3,073 | 18.4 | |||||||||||
| Total assets/liabilities & shareholders’ equity |
69,315 | (1.1 | ) | 69,315 | 1.9 | |||||||||||
| Customer deposits** |
30,736 | 0.4 | 30,736 | (0.8 | ) | |||||||||||
| Marketable debt securities** |
13,503 | 20.4 | 13,503 | 91.7 | ||||||||||||
| Subordinated debt** |
65 | 1.2 | 65 | 505.4 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions** |
13,772 | (17.0 | ) | 13,772 | (26.2 | ) | ||||||||||
| Other liabilities |
3,378 | (9.0 | ) | 3,378 | (8.6 | ) | ||||||||||
| Shareholders’ equity*** |
7,861 | (0.6 | ) | 7,861 | 3.2 | |||||||||||
| Other managed and marketed customer funds |
7 | 3.0 | 7 | 9.8 | ||||||||||||
| Mutual and pension funds |
7 | 3.0 | 7 | 9.8 | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
| Managed and marketed customer funds |
44,310 | 5.8 | 44,310 | 16.5 | ||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||
| ROE |
12.05 | 0.73 | p. | 11.71 | 1.98 | p. | ||||||||||
| Efficiency ratio (with amortisations) |
43.1 | (2.6 | p.) | 44.4 | (0.2 | p.) | ||||||||||
| NPL ratio |
4.07 | (0.07 | p.) | 4.07 | 0.03 | p. | ||||||||||
| NPL coverage |
105.2 | 0.1 | p. | 105.2 | (1.7 | p.) | ||||||||||
| Number of employees |
12,272 | 0.4 | 12,272 | 0.3 | ||||||||||||
| Number of branches |
576 | (0.2 | ) | 576 | (7.7 | ) | ||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
| JANUARY - JUNE |
|
| 34 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 35 |
¢ UNITED KINGDOM (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
1,035 | 4.7 | 3.1 | 2,024 | 25.5 | 21.2 | ||||||||||||||||||
| Net fees |
247 | (0.0 | ) | (1.6 | ) | 494 | (2.2 | ) | (5.6 | ) | ||||||||||||||
| Gains (losses) on financial transactions |
69 | (11.4 | ) | (13.0 | ) | 147 | (40.2 | ) | (42.3 | ) | ||||||||||||||
| Other operating income* |
4 | (71.2 | ) | (72.2 | ) | 19 | 54.7 | 49.4 | ||||||||||||||||
| Gross income |
1,356 | 2.0 | 0.4 | 2,685 | 12.9 | 9.1 | ||||||||||||||||||
| Operating expenses |
(701 | ) | 1.1 | (0.5 | ) | (1,395 | ) | 5.2 | 1.6 | |||||||||||||||
| General administrative expenses |
(596 | ) | 2.9 | 1.2 | (1,175 | ) | 3.8 | 0.3 | ||||||||||||||||
| Personnel |
(387 | ) | 1.9 | 0.3 | (767 | ) | 8.5 | 4.7 | ||||||||||||||||
| Other general administrative expenses |
(209 | ) | 4.6 | 3.0 | (408 | ) | (3.9 | ) | (7.2 | ) | ||||||||||||||
| Depreciation and amortisation |
(106 | ) | (7.5 | ) | (9.1 | ) | (220 | ) | 13.4 | 9.5 | ||||||||||||||
| Net operating income |
654 | 3.0 | 1.4 | 1,290 | 22.7 | 18.4 | ||||||||||||||||||
| Net loan-loss provisions |
(87 | ) | (27.4 | ) | (28.8 | ) | (207 | ) | (26.3 | ) | (28.8 | ) | ||||||||||||
| Other income |
(63 | ) | 35.5 | 33.6 | (109 | ) | (24.3 | ) | (26.9 | ) | ||||||||||||||
| Profit before taxes |
504 | 7.6 | 5.9 | 973 | 55.5 | 50.1 | ||||||||||||||||||
| Tax on profit |
(105 | ) | 12.8 | 11.2 | (198 | ) | 58.8 | 53.3 | ||||||||||||||||
| Profit from continuing operations |
399 | 6.3 | 4.6 | 775 | 54.7 | 49.3 | ||||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | (100.0 | ) | (100.0 | ) | ||||||||||||||||
| Consolidated profit |
399 | 6.3 | 4.6 | 775 | 59.1 | 53.6 | ||||||||||||||||||
| Minority interests |
— | — | — | — | (100.0 | ) | (100.0 | ) | ||||||||||||||||
| Attributable profit to the Group |
399 | 6.3 | 4.6 | 775 | 59.1 | 53.6 | ||||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
239,237 | 2.3 | (1.0 | ) | 239,237 | 0.4 | (6.1 | ) | ||||||||||||||||
| Trading portfolio (w/o loans) |
31,814 | 1.0 | (2.2 | ) | 31,814 | (7.8 | ) | (13.8 | ) | |||||||||||||||
| Available-for-sale financial assets |
9,675 | 15.8 | 12.0 | 9,675 | 60.2 | 49.8 | ||||||||||||||||||
| Due from credit institutions** |
14,391 | (19.0 | ) | (21.6 | ) | 14,391 | (10.5 | ) | (16.3 | ) | ||||||||||||||
| Intangible assets and property and equipment |
2,347 | (6.5 | ) | (9.5 | ) | 2,347 | (1.3 | ) | (7.7 | ) | ||||||||||||||
| Other assets |
39,704 | (10.4 | ) | (13.3 | ) | 39,704 | (20.1 | ) | (25.3 | ) | ||||||||||||||
| Total assets/liabilities & shareholders’ equity |
337,169 | (0.4 | ) | (3.6 | ) | 337,169 | (2.8 | ) | (9.1 | ) | ||||||||||||||
| Customer deposits** |
193,431 | (0.8 | ) | (4.0 | ) | 193,431 | (1.3 | ) | (7.7 | ) | ||||||||||||||
| Marketable debt securities** |
65,816 | (0.8 | ) | (4.0 | ) | 65,816 | (1.7 | ) | (8.1 | ) | ||||||||||||||
| Subordinated debt** |
5,931 | 2.0 | (1.3 | ) | 5,931 | 14.1 | 6.7 | |||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
27,320 | (5.8 | ) | (8.9 | ) | 27,320 | (3.1 | ) | (9.4 | ) | ||||||||||||||
| Other liabilities |
30,517 | 8.4 | 4.9 | 30,517 | (18.5 | ) | (23.8 | ) | ||||||||||||||||
| Shareholders’ equity*** |
14,153 | 0.3 | (3.0 | ) | 14,153 | 8.1 | 1.0 | |||||||||||||||||
| Other managed and marketed customer funds |
9,885 | 2.6 | (0.7 | ) | 9,885 | (7.5 | ) | (13.5 | ) | |||||||||||||||
| Mutual and pension funds |
9,740 | 2.6 | (0.7 | ) | 9,740 | (8.9 | ) | (14.8 | ) | |||||||||||||||
| Managed portfolios |
145 | 3.1 | (0.2 | ) | 145 | — | — | |||||||||||||||||
| Managed and marketed customer funds |
275,063 | (0.6 | ) | (3.8 | ) | 275,063 | (1.3 | ) | (7.8 | ) | ||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
11.30 | 0.36 | p. | 11.14 | 3.72 | p. | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
51.7 | (0.5 | p.) | 52.0 | (3.8 | p.) | ||||||||||||||||||
| NPL ratio |
1.91 | 0.03 | p. | 1.91 | (0.10 | p.) | ||||||||||||||||||
| NPL coverage |
41.1 | (1.8 | p.) | 41.1 | (1.0 | p.) | ||||||||||||||||||
| Number of employees |
25,902 | 1.0 | 25,902 | 1.0 | ||||||||||||||||||||
| Number of branches |
1,071 | (6.4 | ) | 1,071 | (10.0 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
(*) In euros: +3.0% |
(*) In euros: +6.3% |
| JANUARY - JUNE |
|
| 36 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 37 |
|
(*) Customer deposits + mutual funds |
(*) In euros: +2.0% |
| JANUARY - JUNE |
|
| 38 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
3,496 | 4.5 | 0.7 | 6,842 | (13.6 | ) | 2.3 | |||||||||||||||||
| Net fees |
1,100 | 5.0 | 1.8 | 2,148 | (12.4 | ) | 4.5 | |||||||||||||||||
| Gains (losses) on financial transactions |
115 | (8.3 | ) | (7.8 | ) | 241 | (56.1 | ) | (48.0 | ) | ||||||||||||||
| Other operating income* |
42 | — | — | 39 | 29.3 | 49.1 | ||||||||||||||||||
| Gross income |
4,753 | 5.2 | 1.7 | 9,270 | (15.3 | ) | 0.4 | |||||||||||||||||
| Operating expenses |
(1,952 | ) | 3.9 | 0.6 | (3,831 | ) | (10.9 | ) | 5.9 | |||||||||||||||
| General administrative expenses |
(1,768 | ) | 5.3 | 2.1 | (3,446 | ) | (10.1 | ) | 6.8 | |||||||||||||||
| Personnel |
(991 | ) | 6.2 | 3.1 | (1,924 | ) | (10.9 | ) | 5.9 | |||||||||||||||
| Other general administrative expenses |
(777 | ) | 4.1 | 0.8 | (1,522 | ) | (9.2 | ) | 8.0 | |||||||||||||||
| Depreciation and amortisation |
(184 | ) | (8.0 | ) | (11.4 | ) | (384 | ) | (17.3 | ) | (2.0 | ) | ||||||||||||
| Net operating income |
2,802 | 6.2 | 2.5 | 5,440 | (18.2 | ) | (3.2 | ) | ||||||||||||||||
| Net loan-loss provisions |
(1,281 | ) | 3.4 | (0.9 | ) | (2,520 | ) | (28.8 | ) | (16.0 | ) | |||||||||||||
| Other income |
(179 | ) | 11.4 | 6.4 | (340 | ) | 65.4 | 102.6 | ||||||||||||||||
| Profit before taxes |
1,341 | 8.3 | 5.3 | 2,580 | (11.2 | ) | 5.3 | |||||||||||||||||
| Tax on profit |
(326 | ) | (0.6 | ) | (3.7 | ) | (654 | ) | 5.2 | 27.5 | ||||||||||||||
| Profit from continuing operations |
1,015 | 11.5 | 8.6 | 1,926 | (15.7 | ) | (0.5 | ) | ||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
1,015 | 11.5 | 8.6 | 1,926 | (15.7 | ) | (0.5 | ) | ||||||||||||||||
| Minority interests |
215 | 8.3 | 4.9 | 414 | (13.6 | ) | 0.3 | |||||||||||||||||
| Attributable profit to the Group |
800 | 12.4 | 9.6 | 1,512 | (16.2 | ) | (0.7 | ) | ||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
136,325 | 5.1 | 2.2 | 136,325 | 0.3 | 8.0 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
33,960 | 24.4 | 21.2 | 33,960 | 11.5 | 16.6 | ||||||||||||||||||
| Available-for-sale financial assets |
25,052 | (6.2 | ) | (9.3 | ) | 25,052 | 16.3 | 23.3 | ||||||||||||||||
| Due from credit institutions** |
22,442 | (0.9 | ) | (3.4 | ) | 22,442 | (4.9 | ) | 0.6 | |||||||||||||||
| Intangible assets and property and equipment |
3,852 | 0.1 | (3.1 | ) | 3,852 | (4.2 | ) | 2.6 | ||||||||||||||||
| Other assets |
44,619 | 2.9 | (0.3 | ) | 44,619 | 1.1 | 7.3 | |||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
266,251 | 5.0 | 2.0 | 266,251 | 2.5 | 9.4 | ||||||||||||||||||
| Customer deposits** |
127,903 | 1.3 | (1.4 | ) | 127,903 | (3.3 | ) | 4.0 | ||||||||||||||||
| Marketable debt securities** |
31,792 | 14.2 | 10.4 | 31,792 | 3.5 | 9.4 | ||||||||||||||||||
| Subordinated debt** |
6,760 | 1.5 | (1.8 | ) | 6,760 | 61.4 | 71.3 | |||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
30,227 | 18.6 | 15.2 | 30,227 | 14.7 | 21.6 | ||||||||||||||||||
| Other liabilities |
48,071 | 4.6 | 1.6 | 48,071 | 11.7 | 18.0 | ||||||||||||||||||
| Shareholders’ equity*** |
21,497 | 0.4 | (2.4 | ) | 21,497 | (7.3 | ) | (1.4 | ) | |||||||||||||||
| Other managed and marketed customer funds |
76,454 | 7.9 | 4.5 | 76,454 | 16.7 | 22.5 | ||||||||||||||||||
| Mutual and pension funds |
65,315 | 8.4 | 4.8 | 65,315 | 15.8 | 21.5 | ||||||||||||||||||
| Managed portfolios |
11,140 | 5.0 | 3.0 | 11,140 | 22.2 | 28.9 | ||||||||||||||||||
| Managed and marketed customer funds |
242,910 | 4.9 | 1.8 | 242,910 | 4.4 | 11.3 | ||||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
14.96 | 1.17 | p. | 14.42 | (0.70 | p.) | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
41.1 | (0.5 | p.) | 41.3 | 2.1 | p. | ||||||||||||||||||
| NPL ratio |
5.03 | (0.03 | p.) | 5.03 | (0.20 | p.) | ||||||||||||||||||
| NPL coverage |
86.3 | 0.2 | p. | 86.3 | 0.2 | p. | ||||||||||||||||||
| Number of employees |
83,299 | (1.2 | ) | 83,299 | (3.9 | ) | ||||||||||||||||||
| Number of branches |
5,705 | (0.4 | ) | 5,705 | (3.0 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
(*) In euros: +6.2% |
(*) In euros: +12.4% |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 39 |
| JANUARY - JUNE |
|
| 40 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
¢ LATIN AMERICA. INCOME STATEMENT (EUR million)
| Net operating income | Attibutable profit to the Group | |||||||||||||||||||||||||||||||||||||||||||||||
| o/ 1Q’14 | o/ 1H’13 | o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||||||||||||||||||||
| Brazil |
1,791 | 4.2 | (1.7 | ) | 3,509 | (24.0 | ) | (10.2 | ) | 395 | 8.5 | 2.6 | 758 | (17.5 | ) | (2.5 | ) | |||||||||||||||||||||||||||||||
| Mexico |
463 | 13.9 | 12.1 | 870 | (9.6 | ) | (1.3 | ) | 169 | 22.2 | 20.3 | 307 | (30.4 | ) | (24.0 | ) | ||||||||||||||||||||||||||||||||
| Chile |
341 | 2.7 | 3.3 | 672 | 6.2 | 28.1 | 132 | 7.6 | 8.2 | 255 | 27.1 | 53.3 | ||||||||||||||||||||||||||||||||||||
| Argentina |
163 | 27.7 | 35.1 | 291 | (11.9 | ) | 40.0 | 79 | 42.3 | 50.2 | 135 | (18.4 | ) | 29.6 | ||||||||||||||||||||||||||||||||||
| Uruguay |
22 | (5.4 | ) | (1.1 | ) | 45 | (6.8 | ) | 13.2 | 12 | (11.8 | ) | (7.6 | ) | 25 | (10.3 | ) | 9.0 | ||||||||||||||||||||||||||||||
| Peru |
8 | 11.7 | 11.1 | 15 | 21.5 | 35.7 | 6 | 24.9 | 24.2 | 10 | 13.5 | 26.8 | ||||||||||||||||||||||||||||||||||||
| Rest |
(18 | ) | 47.5 | 47.4 | (30 | ) | (17.9 | ) | (15.0 | ) | (15 | ) | 48.0 | 47.7 | (25 | ) | 9.8 | 15.3 | ||||||||||||||||||||||||||||||
| Subtotal |
2,770 | 6.4 | 2.6 | 5,373 | (18.2 | ) | (3.0 | ) | 777 | 13.0 | 10.1 | 1,465 | (15.8 | ) | 0.3 | |||||||||||||||||||||||||||||||||
| Santander Private Banking |
32 | (8.6 | ) | (8.5 | ) | 66 | (18.6 | ) | (15.0 | ) | 23 | (3.1 | ) | (3.0 | ) | 47 | (27.7 | ) | (24.5 | ) | ||||||||||||||||||||||||||||
| Total |
2,802 | 6.2 | 2.5 | 5,440 | (18.2 | ) | (3.2 | ) | 800 | 12.4 | 9.6 | 1,512 | (16.2 | ) | (0.7 | ) | ||||||||||||||||||||||||||||||||
|
(*) Customer deposits + mutual funds |
(*) In euros: +5.2% |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 41 |
¢ BRAZIL (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
2,295 | 4.3 | (1.5 | ) | 4,494 | (18.5 | ) | (3.7 | ) | |||||||||||||||
| Net fees |
685 | 8.9 | 2.9 | 1,314 | (14.3 | ) | 1.2 | |||||||||||||||||
| Gains (losses) on financial transactions |
(37 | ) | — | — | (20 | ) | — | — | ||||||||||||||||
| Other operating income* |
44 | 563.4 | 541.5 | 50 | 447.2 | 546.3 | ||||||||||||||||||
| Gross income |
2,986 | 4.7 | (1.1 | ) | 5,838 | (20.4 | ) | (6.0 | ) | |||||||||||||||
| Operating expenses |
(1,196 | ) | 5.6 | (0.3 | ) | (2,328 | ) | (14.2 | ) | 1.3 | ||||||||||||||
| General administrative expenses |
(1,074 | ) | 6.8 | 0.8 | (2,079 | ) | (13.7 | ) | 1.9 | |||||||||||||||
| Personnel |
(591 | ) | 7.5 | 1.6 | (1,140 | ) | (13.7 | ) | 2.0 | |||||||||||||||
| Other general administrative expenses |
(483 | ) | 5.9 | (0.1 | ) | (939 | ) | (13.7 | ) | 1.9 | ||||||||||||||
| Depreciation and amortisation |
(122 | ) | (4.0 | ) | (9.6 | ) | (249 | ) | (18.7 | ) | (3.9 | ) | ||||||||||||
| Net operating income |
1,791 | 4.2 | (1.7 | ) | 3,509 | (24.0 | ) | (10.2 | ) | |||||||||||||||
| Net loan-loss provisions |
(933 | ) | 3.1 | (2.7 | ) | (1,837 | ) | (35.4 | ) | (23.7 | ) | |||||||||||||
| Other income |
(166 | ) | 16.2 | 10.0 | (308 | ) | 46.4 | 72.9 | ||||||||||||||||
| Profit before taxes |
693 | 3.2 | (2.7 | ) | 1,364 | (12.8 | ) | 3.0 | ||||||||||||||||
| Tax on profit |
(188 | ) | (7.0 | ) | (12.5 | ) | (391 | ) | 1.2 | 19.5 | ||||||||||||||
| Profit from continuing operations |
504 | 7.5 | 1.6 | 974 | (17.4 | ) | (2.4 | ) | ||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
504 | 7.5 | 1.6 | 974 | (17.4 | ) | (2.4 | ) | ||||||||||||||||
| Minority interests |
110 | 4.1 | (1.8 | ) | 215 | (16.9 | ) | (1.9 | ) | |||||||||||||||
| Attributable profit to the Group |
395 | 8.5 | 2.6 | 758 | (17.5 | ) | (2.5 | ) | ||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
71,475 | 4.3 | 0.1 | 71,475 | 0.3 | 4.1 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
16,954 | 49.9 | 43.7 | 16,954 | 38.1 | 43.4 | ||||||||||||||||||
| Available-for-sale financial assets |
18,352 | (7.3 | ) | (11.0 | ) | 18,352 | 23.6 | 28.3 | ||||||||||||||||
| Due from credit institutions** |
10,129 | 12.0 | 7.4 | 10,129 | (9.3 | ) | (5.9 | ) | ||||||||||||||||
| Intangible assets and property and equipment |
2,796 | (0.0 | ) | (4.1 | ) | 2,796 | (5.7 | ) | (2.1 | ) | ||||||||||||||
| Other assets |
31,608 | 6.7 | 2.3 | 31,608 | (2.0 | ) | 1.7 | |||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
151,315 | 7.2 | 2.9 | 151,315 | 4.5 | 8.5 | ||||||||||||||||||
| Customer deposits** |
68,450 | 3.8 | (0.4 | ) | 68,450 | (1.1 | ) | 2.7 | ||||||||||||||||
| Marketable debt securities** |
21,772 | 9.4 | 5.0 | 21,772 | 1.5 | 5.4 | ||||||||||||||||||
| Subordinated debt** |
4,821 | 5.1 | 0.9 | 4,821 | 54.0 | 59.9 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
16,122 | 16.6 | 11.9 | 16,122 | 10.6 | 14.9 | ||||||||||||||||||
| Other liabilities |
27,974 | 11.6 | 7.1 | 27,974 | 21.2 | 25.9 | ||||||||||||||||||
| Shareholders’ equity*** |
12,176 | 3.3 | (0.9 | ) | 12,176 | (9.0 | ) | (5.6 | ) | |||||||||||||||
| Other managed and marketed customer funds |
49,593 | 8.4 | 4.0 | 49,593 | 19.3 | 23.8 | ||||||||||||||||||
| Mutual and pension funds |
46,394 | 8.9 | 4.5 | 46,394 | 20.6 | 25.2 | ||||||||||||||||||
| Managed portfolios |
3,199 | 1.7 | (2.5 | ) | 3,199 | 2.7 | 6.6 | |||||||||||||||||
| Managed and marketed customer funds |
144,636 | 6.2 | 1.9 | 144,636 | 6.8 | 10.9 | ||||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
13.18 | 0.60 p. | 12.89 | (0.24 p. | ) | |||||||||||||||||||
| Efficiency ratio (with amortisations) |
40.0 | 0.3 p. | 39.9 | 2.9 p. | ||||||||||||||||||||
| NPL ratio |
5.78 | 0.04 p. | 5.78 | (0.71 p. | ) | |||||||||||||||||||
| NPL coverage |
94.8 | (0.4 p. | ) | 94.8 | 3.5 p. | |||||||||||||||||||
| Number of employees |
47,205 | (2.3 | ) | 47,205 | (8.1 | ) | ||||||||||||||||||
| Number of branches |
3,449 | (1.1 | ) | 3,449 | (6.7 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
(*) In euros: +4.2% |
(*) In euros: +8.5% |
| JANUARY - JUNE |
|
| 42 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 43 |
| JANUARY - JUNE |
|
| 44 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
¢ MEXICO (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
529 | 3.9 | 2.1 | 1,038 | (1.8 | ) | 7.2 | |||||||||||||||||
| Net fees |
191 | 0.8 | (1.0 | ) | 381 | (4.3 | ) | 4.4 | ||||||||||||||||
| Gains (losses) on financial transactions |
62 | 132.8 | 129.9 | 89 | (21.3 | ) | (14.1 | ) | ||||||||||||||||
| Other operating income* |
(7 | ) | (42.8 | ) | (44.1 | ) | (19 | ) | 627.7 | 694.1 | ||||||||||||||
| Gross income |
775 | 8.7 | 6.9 | 1,488 | (4.9 | ) | 3.8 | |||||||||||||||||
| Operating expenses |
(312 | ) | 1.8 | 0.1 | (619 | ) | 2.6 | 11.9 | ||||||||||||||||
| General administrative expenses |
(281 | ) | 2.8 | 1.0 | (554 | ) | 2.7 | 12.0 | ||||||||||||||||
| Personnel |
(148 | ) | 4.0 | 2.2 | (290 | ) | (2.6 | ) | 6.2 | |||||||||||||||
| Other general administrative expenses |
(133 | ) | 1.5 | (0.3 | ) | (265 | ) | 9.2 | 19.2 | |||||||||||||||
| Depreciation and amortisation |
(31 | ) | (6.3 | ) | (8.0 | ) | (64 | ) | 1.5 | 10.8 | ||||||||||||||
| Net operating income |
463 | 13.9 | 12.1 | 870 | (9.6 | ) | (1.3 | ) | ||||||||||||||||
| Net loan-loss provisions |
(191 | ) | 6.8 | 5.0 | (369 | ) | 13.4 | 23.7 | ||||||||||||||||
| Other income |
(2 | ) | 21.4 | 19.5 | (3 | ) | — | — | ||||||||||||||||
| Profit before taxes |
271 | 19.4 | 17.6 | 497 | (24.7 | ) | (17.9 | ) | ||||||||||||||||
| Tax on profit |
(56 | ) | 16.0 | 14.1 | (105 | ) | 26.7 | 38.2 | ||||||||||||||||
| Profit from continuing operations |
214 | 20.4 | 18.5 | 392 | (32.1 | ) | (25.9 | ) | ||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
214 | 20.4 | 18.5 | 392 | (32.1 | ) | (25.9 | ) | ||||||||||||||||
| Minority interests |
46 | 14.1 | 12.2 | 86 | (37.6 | ) | (31.9 | ) | ||||||||||||||||
| Attributable profit to the Group |
169 | 22.2 | 20.3 | 307 | (30.4 | ) | (24.0 | ) | ||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
24,516 | 9.5 | 7.7 | 24,516 | 9.3 | 13.6 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
11,603 | 2.7 | 1.0 | 11,603 | (8.2 | ) | (4.6 | ) | ||||||||||||||||
| Available-for-sale financial assets |
3,944 | 13.5 | 11.6 | 3,944 | 23.6 | 28.4 | ||||||||||||||||||
| Due from credit institutions** |
6,975 | (16.4 | ) | (17.8 | ) | 6,975 | 19.1 | 23.8 | ||||||||||||||||
| Intangible assets and property and equipment |
397 | 0.3 | (1.4 | ) | 397 | 4.3 | 8.4 | |||||||||||||||||
| Other assets |
5,494 | (2.5 | ) | (4.2 | ) | 5,494 | 15.1 | 19.6 | ||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
52,928 | 2.7 | 1.0 | 52,928 | 7.4 | 11.6 | ||||||||||||||||||
| Customer deposits** |
24,803 | (3.1 | ) | (4.7 | ) | 24,803 | (6.4 | ) | (2.7 | ) | ||||||||||||||
| Marketable debt securities** |
3,818 | 53.0 | 50.4 | 3,818 | 18.8 | 23.5 | ||||||||||||||||||
| Subordinated debt** |
971 | 2.6 | 0.9 | 971 | — | — | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
7,840 | 32.4 | 30.2 | 7,840 | 62.4 | 68.8 | ||||||||||||||||||
| Other liabilities |
11,684 | (8.8 | ) | (10.3 | ) | 11,684 | 9.4 | 13.7 | ||||||||||||||||
| Shareholders’ equity*** |
3,812 | 1.3 | (0.4 | ) | 3,812 | (6.4 | ) | (2.7 | ) | |||||||||||||||
| Other managed and marketed customer funds |
11,724 | 6.4 | 4.6 | 11,724 | 8.7 | 12.9 | ||||||||||||||||||
| Mutual and pension funds |
11,724 | 6.4 | 4.6 | 11,724 | 8.7 | 12.9 | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
| Managed and marketed customer funds |
41,316 | 3.2 | 1.4 | 41,316 | 2.0 | 6.0 | ||||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
17.78 | 2.01 | p. | 16.90 | (4.62 | p.) | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
40.2 | (2.7 | p.) | 41.6 | 3.0 | p. | ||||||||||||||||||
| NPL ratio |
3.52 | (0.10 | p.) | 3.52 | 1.32 | p. | ||||||||||||||||||
| NPL coverage |
96.6 | (2.0 | p.) | 96.6 | (46.1 | p.) | ||||||||||||||||||
| Number of employees |
14,859 | 0.1 | 14,859 | 4.2 | ||||||||||||||||||||
| Number of branches |
1,293 | 1.1 | 1,293 | 6.4 | ||||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 45 |
|
(*) Customer deposits + mutual funds |
(*) In euros: +8.7% |
| JANUARY - JUNE |
|
| 46 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
¢ CHILE (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
447 | 9.6 | 10.3 | 856 | 4.9 | 26.6 | ||||||||||||||||||
| Net fees |
78 | (3.4 | ) | (2.8 | ) | 160 | (19.3 | ) | (2.6 | ) | ||||||||||||||
| Gains (losses) on financial transactions |
20 | (49.3 | ) | (48.9 | ) | 59 | (30.1 | ) | (15.7 | ) | ||||||||||||||
| Other operating income* |
5 | 15.0 | 15.7 | 10 | (24.4 | ) | (8.8 | ) | ||||||||||||||||
| Gross income |
551 | 3.4 | 4.0 | 1,084 | (2.4 | ) | 17.8 | |||||||||||||||||
| Operating expenses |
(210 | ) | 4.5 | 5.2 | (411 | ) | (13.8 | ) | 4.0 | |||||||||||||||
| General administrative expenses |
(197 | ) | 9.3 | 10.0 | (377 | ) | (10.6 | ) | 7.9 | |||||||||||||||
| Personnel |
(123 | ) | 14.2 | 14.8 | (231 | ) | (11.3 | ) | 7.0 | |||||||||||||||
| Other general administrative expenses |
(74 | ) | 2.1 | 2.7 | (146 | ) | (9.4 | ) | 9.2 | |||||||||||||||
| Depreciation and amortisation |
(13 | ) | (36.5 | ) | (36.0 | ) | (34 | ) | (38.2 | ) | (25.4 | ) | ||||||||||||
| Net operating income |
341 | 2.7 | 3.3 | 672 | 6.2 | 28.1 | ||||||||||||||||||
| Net loan-loss provisions |
(118 | ) | 1.6 | 2.2 | (234 | ) | (22.5 | ) | (6.6 | ) | ||||||||||||||
| Other income |
(3 | ) | (61.9 | ) | (61.4 | ) | (9 | ) | — | — | ||||||||||||||
| Profit before taxes |
220 | 5.4 | 6.0 | 429 | 28.8 | 55.3 | ||||||||||||||||||
| Tax on profit |
(29 | ) | (13.6 | ) | (13.1 | ) | (62 | ) | 35.5 | 63.4 | ||||||||||||||
| Profit from continuing operations |
192 | 8.9 | 9.6 | 367 | 27.7 | 54.1 | ||||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
192 | 8.9 | 9.6 | 367 | 27.7 | 54.1 | ||||||||||||||||||
| Minority interests |
59 | 12.1 | 12.7 | 113 | 29.1 | 55.7 | ||||||||||||||||||
| Attributable profit to the Group |
132 | 7.6 | 8.2 | 255 | 27.1 | 53.3 | ||||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
28,701 | 2.5 | 1.4 | 28,701 | (4.6 | ) | 8.7 | |||||||||||||||||
| Trading portfolio (w/o loans) |
2,106 | 19.3 | 18.0 | 2,106 | 43.2 | 63.3 | ||||||||||||||||||
| Available-for-sale financial assets |
1,796 | (26.8 | ) | (27.6 | ) | 1,796 | (24.1 | ) | (13.5 | ) | ||||||||||||||
| Due from credit institutions** |
2,851 | (2.4 | ) | (3.5 | ) | 2,851 | (8.7 | ) | 4.1 | |||||||||||||||
| Intangible assets and property and equipment |
281 | (10.0 | ) | (11.0 | ) | 281 | (17.4 | ) | (5.8 | ) | ||||||||||||||
| Other assets |
2,091 | (18.4 | ) | (19.3 | ) | 2,091 | (21.4 | ) | (10.4 | ) | ||||||||||||||
| Total assets/liabilities & shareholders’ equity |
37,826 | (0.5 | ) | (1.6 | ) | 37,826 | (5.5 | ) | 7.7 | |||||||||||||||
| Customer deposits** |
19,929 | (2.5 | ) | (3.6 | ) | 19,929 | (9.3 | ) | 3.4 | |||||||||||||||
| Marketable debt securities** |
6,146 | 13.8 | 12.5 | 6,146 | 2.0 | 16.2 | ||||||||||||||||||
| Subordinated debt** |
948 | (14.6 | ) | (15.6 | ) | 948 | (8.8 | ) | 4.0 | |||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
4,643 | 2.1 | 0.9 | 4,643 | (1.0 | ) | 12.8 | |||||||||||||||||
| Other liabilities |
3,941 | (2.5 | ) | (3.6 | ) | 3,941 | (1.8 | ) | 11.9 | |||||||||||||||
| Shareholders’ equity*** |
2,219 | (10.4 | ) | (11.4 | ) | 2,219 | (4.1 | ) | 9.4 | |||||||||||||||
| Other managed and marketed customer funds |
6,346 | 8.2 | 7.0 | 6,346 | 11.6 | 27.2 | ||||||||||||||||||
| Mutual and pension funds |
4,850 | 9.5 | 8.3 | 4,850 | 11.5 | 27.1 | ||||||||||||||||||
| Managed portfolios |
1,496 | 4.1 | 2.9 | 1,496 | 11.9 | 27.6 | ||||||||||||||||||
| Managed and marketed customer funds |
33,368 | 1.7 | 0.5 | 33,368 | (3.9 | ) | 9.6 | |||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
23.26 | 2.71 | p. | 22.07 | 6.09 | p. | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
38.2 | 0.4 | p. | 37.9 | (5.0 | p.) | ||||||||||||||||||
| NPL ratio |
5.94 | (0.05 | p.) | 5.94 | 0.13 | p. | ||||||||||||||||||
| NPL coverage |
51.7 | 1.0 | p. | 51.7 | 1.8 | p. | ||||||||||||||||||
| Number of employees |
11,971 | (1.1 | ) | 11,971 | (1.3 | ) | ||||||||||||||||||
| Number of branches |
481 | (0.8 | ) | 481 | (4.0 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 47 |
| JANUARY - JUNE |
|
| 48 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
(*) In euros: +42.3% |
(*) In euros: -11.8% |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 49 |
| (*) | In euros: +24.9% |
| JANUARY - JUNE |
|
| 50 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
1,139 | 3.8 | 3.9 | 2,237 | 9.9 | 14.8 | ||||||||||||||||||
| Net fees |
173 | 5.3 | 5.4 | 336 | 17.8 | 22.9 | ||||||||||||||||||
| Gains (losses) on financial transactions |
15 | (45.1 | ) | (45.0 | ) | 44 | (34.5 | ) | (31.6 | ) | ||||||||||||||
| Other operating income* |
32 | 97.2 | 97.4 | 49 | — | — | ||||||||||||||||||
| Gross income |
1,359 | 4.1 | 4.2 | 2,666 | 12.5 | 17.4 | ||||||||||||||||||
| Operating expenses |
(473 | ) | (0.6 | ) | (0.5 | ) | (949 | ) | 4.6 | 9.2 | ||||||||||||||
| General administrative expenses |
(428 | ) | 2.7 | 2.8 | (844 | ) | 2.5 | 7.0 | ||||||||||||||||
| Personnel |
(247 | ) | 5.2 | 5.3 | (481 | ) | 0.3 | 4.7 | ||||||||||||||||
| Other general administrative expenses |
(181 | ) | (0.5 | ) | (0.4 | ) | (363 | ) | 5.5 | 10.2 | ||||||||||||||
| Depreciation and amortisation |
(45 | ) | (23.9 | ) | (23.8 | ) | (105 | ) | 25.1 | 30.6 | ||||||||||||||
| Net operating income |
886 | 6.7 | 6.9 | 1,716 | 17.4 | 22.5 | ||||||||||||||||||
| Net loan-loss provisions |
(499 | ) | (8.8 | ) | (8.6 | ) | (1,046 | ) | 71.7 | 79.2 | ||||||||||||||
| Other income |
(3 | ) | 33.5 | 33.7 | (5 | ) | (81.2 | ) | (80.4 | ) | ||||||||||||||
| Profit before taxes |
384 | 36.7 | 36.8 | 665 | (19.3 | ) | (15.7 | ) | ||||||||||||||||
| Tax on profit |
(120 | ) | 51.8 | 51.9 | (199 | ) | (18.1 | ) | (14.5 | ) | ||||||||||||||
| Profit from continuing operations |
264 | 30.8 | 30.9 | 466 | (19.8 | ) | (16.3 | ) | ||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
264 | 30.8 | 30.9 | 466 | (19.8 | ) | (16.3 | ) | ||||||||||||||||
| Minority interests |
65 | 49.0 | 49.1 | 109 | 4.1 | 8.7 | ||||||||||||||||||
| Attributable profit to the Group |
199 | 25.7 | 25.8 | 356 | (25.1 | ) | (21.8 | ) | ||||||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Customer loans** |
60,006 | 1.6 | 0.6 | 60,006 | 2.2 | 6.7 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
248 | 96.1 | 94.2 | 248 | (0.5 | ) | 3.9 | |||||||||||||||||
| Available-for-sale financial assets |
8,228 | (8.3 | ) | (9.1 | ) | 8,228 | (27.8 | ) | (24.6 | ) | ||||||||||||||
| Due from credit institutions** |
2,228 | 7.9 | 6.9 | 2,228 | 32.7 | 38.6 | ||||||||||||||||||
| Intangible assets and property and equipment |
4,594 | 41.5 | 40.2 | 4,594 | 370.1 | 390.9 | ||||||||||||||||||
| Other assets |
6,559 | 27.5 | 26.3 | 6,559 | 3.0 | 7.6 | ||||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
81,864 | 4.1 | 3.1 | 81,864 | 3.1 | 7.7 | ||||||||||||||||||
| Customer deposits** |
39,878 | 0.8 | (0.1 | ) | 39,878 | (4.2 | ) | 0.0 | ||||||||||||||||
| Marketable debt securities** |
14,373 | 15.6 | 14.5 | 14,373 | 32.9 | 38.8 | ||||||||||||||||||
| Subordinated debt** |
680 | (0.5 | ) | (1.4 | ) | 680 | (65.5 | ) | (64.0 | ) | ||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions** |
12,580 | 4.4 | 3.4 | 12,580 | (6.0 | ) | (1.9 | ) | ||||||||||||||||
| Other liabilities |
5,067 | 7.2 | 6.2 | 5,067 | 50.5 | 57.2 | ||||||||||||||||||
| Shareholders’ equity*** |
9,287 | 1.0 | 0.1 | 9,287 | 13.1 | 18.1 | ||||||||||||||||||
| Other managed and marketed customer funds |
5,731 | 7.0 | 6.0 | 5,731 | (8.6 | ) | (4.6 | ) | ||||||||||||||||
| Mutual and pension funds |
844 | 0.2 | (0.8 | ) | 844 | (40.9 | ) | (38.3 | ) | |||||||||||||||
| Managed portfolios |
4,887 | 8.3 | 7.2 | 4,887 | 0.9 | 5.4 | ||||||||||||||||||
| Managed and marketed customer funds |
60,661 | 4.5 | 3.6 | 60,661 | (0.0 | ) | 4.4 | |||||||||||||||||
| RATIOS (%) Y OPERATING MEANS |
||||||||||||||||||||||||
| ROE |
8.54 | 1.00 | p. | 8.11 | (3.60 | p.) | ||||||||||||||||||
| Efficiency ratio (with amortisations) |
34.8 | (1.6 | p.) | 35.6 | (2.7 | p.) | ||||||||||||||||||
| NPL ratio |
2.93 | 0.05 | p. | 2.93 | (0.03 | p.) | ||||||||||||||||||
| NPL coverage |
165.0 | 1.7 | p. | 165.0 | 8.5 | p. | ||||||||||||||||||
| Number of employees |
15,594 | 1.0 | 15,594 | 6.5 | ||||||||||||||||||||
| Number of branches |
811 | (0.5 | ) | 811 | (2.9 | ) | ||||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| (**) | Including all on-balance sheet balances for this item |
| (***) | Not including profit of the year |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 51 |
| JANUARY - JUNE |
|
| 52 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
JANUARY - JUNE |
| INFORMATION BY PRINCIPAL SEGMENTS | FINANCIAL REPORT 2014 | 53 |
¢ CORPORATE ACTIVITIES (EUR million)
| 2Q’14 | 1Q’14 | % | 1H’14 | 1H’13 | % | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
(489 | ) | (534 | ) | (8.4 | ) | (1,023 | ) | (1,083 | ) | (5.6 | ) | ||||||||||||
| Net fees |
(6 | ) | (8 | ) | (28.4 | ) | (14 | ) | (31 | ) | (54.5 | ) | ||||||||||||
| Gains (losses) on financial transactions |
248 | 302 | (17.7 | ) | 550 | 590 | (6.8 | ) | ||||||||||||||||
| Other operating income |
10 | 16 | (37.5 | ) | 25 | 64 | (60.2 | ) | ||||||||||||||||
| Dividends |
10 | 5 | 94.4 | 15 | 8 | 77.3 | ||||||||||||||||||
| Income from equity-accounted method |
(15 | ) | 0 | — | (15 | ) | (6 | ) | 167.1 | |||||||||||||||
| Other operating income/expenses |
15 | 10 | 47.7 | 26 | 61 | (57.8 | ) | |||||||||||||||||
| Gross income |
(237 | ) | (224 | ) | 5.5 | (461 | ) | (460 | ) | 0.3 | ||||||||||||||
| Operating expenses |
(197 | ) | (191 | ) | 3.0 | (389 | ) | (353 | ) | 10.2 | ||||||||||||||
| General administrative expenses |
(156 | ) | (164 | ) | (5.1 | ) | (320 | ) | (284 | ) | 12.7 | |||||||||||||
| Personnel |
(62 | ) | (67 | ) | (7.7 | ) | (129 | ) | (131 | ) | (1.5 | ) | ||||||||||||
| Other general administrative expenses |
(94 | ) | (97 | ) | (3.4 | ) | (192 | ) | (153 | ) | 24.9 | |||||||||||||
| Depreciation and amortisation |
(41 | ) | (27 | ) | 52.4 | (69 | ) | (69 | ) | (0.2 | ) | |||||||||||||
| Net operating income |
(434 | ) | (416 | ) | 4.3 | (850 | ) | (812 | ) | 4.6 | ||||||||||||||
| Net loan-loss provisions |
(1 | ) | 1 | — | 0 | (218 | ) | — | ||||||||||||||||
| Other income |
(67 | ) | (72 | ) | (7.2 | ) | (139 | ) | (155 | ) | (10.2 | ) | ||||||||||||
| Ordinary profit before taxes |
(502 | ) | (487 | ) | 3.2 | (989 | ) | (1,185 | ) | (16.5 | ) | |||||||||||||
| Tax on profit |
59 | 79 | (25.7 | ) | 137 | 121 | 13.3 | |||||||||||||||||
| Ordinary profit from continuing operations |
(444 | ) | (408 | ) | 8.8 | (852 | ) | (1,064 | ) | (19.9 | ) | |||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Ordinary consolidated profit |
(444 | ) | (408 | ) | 8.8 | (852 | ) | (1,064 | ) | (19.9 | ) | |||||||||||||
| Minority interests |
(0 | ) | (3 | ) | (91.6 | ) | (3 | ) | (2 | ) | 43.8 | |||||||||||||
| Ordinary attributable profit to the Group |
(444 | ) | (405 | ) | 9.4 | (849 | ) | (1,062 | ) | (20.1 | ) | |||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | ||||||||||||||||||
| Attributable profit to the Group |
(444 | ) | (405 | ) | 9.4 | (849 | ) | (1,062 | ) | (20.1 | ) | |||||||||||||
| BALANCE SHEET |
||||||||||||||||||||||||
| Trading portfolio (w/o loans) |
3,297 | 2,947 | 11.9 | 3,297 | 5,291 | (37.7 | ) | |||||||||||||||||
| Available-for-sale financial assets |
6,863 | 6,892 | (0.4 | ) | 6,863 | 22,492 | (69.5 | ) | ||||||||||||||||
| Investments |
542 | 276 | 96.3 | 542 | 206 | 163.2 | ||||||||||||||||||
| Goodwill |
26,663 | 26,056 | 2.3 | 26,663 | 24,910 | 7.0 | ||||||||||||||||||
| Liquidity lent to the Group |
24,882 | 28,985 | (14.2 | ) | 24,882 | 30,605 | (18.7 | ) | ||||||||||||||||
| Capital assigned to Group areas |
70,229 | 70,542 | (0.4 | ) | 70,229 | 70,103 | 0.2 | |||||||||||||||||
| Other assets |
53,467 | 49,007 | 9.1 | 53,467 | 57,661 | (7.3 | ) | |||||||||||||||||
| Total assets/liabilities & shareholders’ equity |
185,943 | 184,706 | 0.7 | 185,943 | 211,269 | (12.0 | ) | |||||||||||||||||
| Customer deposits* |
1,563 | 1,379 | 13.4 | 1,563 | 7,658 | (79.6 | ) | |||||||||||||||||
| Marketable debt securities* |
60,754 | 62,102 | (2.2 | ) | 60,754 | 73,211 | (17.0 | ) | ||||||||||||||||
| Subordinated debt* |
5,263 | 4,173 | 26.1 | 5,263 | 4,412 | 19.3 | ||||||||||||||||||
| Other liabilities |
34,084 | 32,724 | 4.2 | 34,084 | 45,040 | (24.3 | ) | |||||||||||||||||
| Group capital and reserves** |
84,279 | 84,328 | (0.1 | ) | 84,279 | 80,947 | 4.1 | |||||||||||||||||
| Other managed and marketed customer funds |
— | — | — | — | — | — | ||||||||||||||||||
| Mutual and pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
| Managed and marketed customer funds |
67,580 | 67,654 | (0.1 | ) | 67,580 | 85,282 | (20.8 | ) | ||||||||||||||||
| OPERATING MEANS |
||||||||||||||||||||||||
| Number of employees |
2,556 | 2,527 | 1.1 | 2,556 | 2,567 | (0.4 | ) | |||||||||||||||||
| (*) | Including all on-balance sheet balances for this item |
| (**) | Not including profit of the year |
| JANUARY - JUNE |
|
| 54 | FINANCIAL REPORT 2014 | INFORMATION BY PRINCIPAL SEGMENTS |
|
|
JANUARY - JUNE |
| INFORMATION BY SECONDARY SEGMENTS | FINANCIAL REPORT 2014 | 55 |
¢ RETAIL BANKING (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
7,099 | 4.0 | 2.1 | 13,925 | (1.6 | ) | 7.3 | |||||||||||||||||
| Net fees |
1,889 | 1.8 | 0.1 | 3,744 | (7.0 | ) | 1.4 | |||||||||||||||||
| Gains (losses) on financial transactions |
80 | (25.9 | ) | (24.7 | ) | 187 | (73.5 | ) | (71.6 | ) | ||||||||||||||
| Other operating income* |
(26 | ) | (67.6 | ) | (68.8 | ) | (108 | ) | (40.9 | ) | (36.6 | ) | ||||||||||||
| Gross income |
9,041 | 3.8 | 2.0 | 17,749 | (5.1 | ) | 3.4 | |||||||||||||||||
| Operating expenses |
(4,065 | ) | 1.1 | (0.6 | ) | (8,087 | ) | (5.2 | ) | 2.1 | ||||||||||||||
| Net operating income |
4,976 | 6.2 | 4.2 | 9,661 | (4.9 | ) | 4.5 | |||||||||||||||||
| Net loan-loss provisions |
(2,372 | ) | (4.6 | ) | (6.7 | ) | (4,858 | ) | (16.5 | ) | (7.9 | ) | ||||||||||||
| Other income |
(338 | ) | 26.3 | 22.8 | (605 | ) | 23.2 | 32.3 | ||||||||||||||||
| Profit before taxes |
2,266 | 17.3 | 15.6 | 4,198 | 9.1 | 19.5 | ||||||||||||||||||
| Tax on profit |
(561 | ) | 19.0 | 16.9 | (1,033 | ) | 25.1 | 38.2 | ||||||||||||||||
| Profit from continuing operations |
1,704 | 16.7 | 15.1 | 3,164 | 4.7 | 14.4 | ||||||||||||||||||
| Net profit from discontinued operations |
(0 | ) | 2.5 | 1.9 | (0 | ) | (98.2 | ) | (98.3 | ) | ||||||||||||||
| Consolidated profit |
1,704 | 16.7 | 15.1 | 3,164 | 5.2 | 15.0 | ||||||||||||||||||
| Minority interests |
254 | 17.0 | 14.9 | 472 | (11.9 | ) | (1.9 | ) | ||||||||||||||||
| Attributable profit to the Group |
1,450 | 16.7 | 15.2 | 2,692 | 8.8 | 18.6 | ||||||||||||||||||
| BUSINESS VOLUMES |
||||||||||||||||||||||||
| Customer loans |
609,679 | 2.5 | 0.7 | 609,679 | 1.7 | 0.8 | ||||||||||||||||||
| Customer deposits |
508,459 | (1.4 | ) | (3.2 | ) | 508,459 | (2.4 | ) | (3.4 | ) | ||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| JANUARY - JUNE |
|
| 56 | FINANCIAL REPORT 2014 | INFORMATION BY SECONDARY SEGMENTS |
¢ RETAIL BANKING. INCOME STATEMENT (EUR million)
| Net operating income | Attibutable profit to the Group | |||||||||||||||||||||||||||||||||||||||||||||||
| o/ 1Q’14 | o/ 1H’13 | o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||||||||||||||||||||
| Continental Europe |
1,248 | 9.2 | 9.1 | 2,391 | 11.2 | 11.7 | 381 | 9.2 | 9.0 | 730 | 92.7 | 95.1 | ||||||||||||||||||||||||||||||||||||
| United Kingdom |
599 | 3.6 | 2.0 | 1,178 | 22.2 | 18.0 | 354 | 6.1 | 4.5 | 687 | 64.2 | 58.5 | ||||||||||||||||||||||||||||||||||||
| Latin America |
2,263 | 4.6 | 0.7 | 4,427 | (21.7 | ) | (7.4 | ) | 513 | 19.4 | 16.5 | 943 | (24.8 | ) | (10.9 | ) | ||||||||||||||||||||||||||||||||
| USA |
865 | 8.1 | 8.2 | 1,666 | 20.0 | 25.3 | 202 | 54.8 | 55.0 | 332 | (21.2 | ) | (17.7 | ) | ||||||||||||||||||||||||||||||||||
| Total Retail Banking |
4,976 | 6.2 | 4.2 | 9,661 | (4.9 | ) | 4.5 | 1,450 | 16.7 | 15.2 | 2,692 | 8.8 | 18.6 | |||||||||||||||||||||||||||||||||||
|
|
JANUARY - JUNE |
| INFORMATION BY SECONDARY SEGMENTS | FINANCIAL REPORT 2014 | 57 |
¢ GLOBAL WHOLESALE BANKING (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
656 | 13.3 | 11.5 | 1,235 | 3.5 | 12.8 | ||||||||||||||||||
| Net fees |
370 | 8.4 | 6.7 | 712 | 2.8 | 9.9 | ||||||||||||||||||
| Gains (losses) on financial transactions |
172 | (50.8 | ) | (51.2 | ) | 520 | (0.5 | ) | 5.8 | |||||||||||||||
| Other operating income* |
138 | 379.3 | 377.0 | 166 | 5.3 | 5.8 | ||||||||||||||||||
| Gross income |
1,335 | 2.9 | 1.5 | 2,633 | 2.6 | 10.1 | ||||||||||||||||||
| Operating expenses |
(445 | ) | 1.2 | (0.1 | ) | (886 | ) | (0.5 | ) | 5.5 | ||||||||||||||
| Net operating income |
890 | 3.8 | 2.3 | 1,748 | 4.2 | 12.6 | ||||||||||||||||||
| Net loan-loss provisions |
(200 | ) | 86.2 | 85.9 | (308 | ) | (3.3 | ) | 0.9 | |||||||||||||||
| Other income |
(19 | ) | 1.0 | 0.6 | (38 | ) | 27.2 | 27.0 | ||||||||||||||||
| Profit before taxes |
670 | (8.3 | ) | (9.8 | ) | 1,402 | 5.5 | 15.2 | ||||||||||||||||
| Tax on profit |
(183 | ) | (8.8 | ) | (10.3 | ) | (383 | ) | 2.8 | 13.2 | ||||||||||||||
| Profit from continuing operations |
488 | (8.1 | ) | (9.7 | ) | 1,019 | 6.6 | 15.9 | ||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
488 | (8.1 | ) | (9.7 | ) | 1,019 | 6.6 | 15.9 | ||||||||||||||||
| Minority interests |
60 | 5.7 | 1.6 | 116 | 7.7 | 24.9 | ||||||||||||||||||
| Attributable profit to the Group |
428 | (9.7 | ) | (11.0 | ) | 902 | 6.4 | 14.9 | ||||||||||||||||
| BUSINESS VOLUMES |
||||||||||||||||||||||||
| Customer loans |
79,191 | (0.6 | ) | (1.9 | ) | 79,191 | (18.3 | ) | (17.8 | ) | ||||||||||||||
| Customer deposits |
73,272 | 8.0 | 6.5 | 73,272 | (10.4 | ) | (9.2 | ) | ||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| JANUARY - JUNE |
|
| 58 | FINANCIAL REPORT 2014 | INFORMATION BY SECONDARY SEGMENTS |
|
(*) Excluding exchange rate impact: total revenues: +10%; customers +7% |
|
|
JANUARY - JUNE |
| INFORMATION BY SECONDARY SEGMENTS | FINANCIAL REPORT 2014 | 59 |
¢ PRIVATE BANKING, ASSET MANAGEMENT AND INSURANCE (EUR million)
| o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||||||
| Net interest income |
109 | (7.8 | ) | (8.7 | ) | 227 | (9.1 | ) | (5.4 | ) | ||||||||||||||
| Net fees |
148 | 5.6 | 5.1 | 287 | 2.8 | 8.0 | ||||||||||||||||||
| Gains (losses) on financial transactions |
11 | 34.9 | 34.4 | 20 | (27.2 | ) | (23.3 | ) | ||||||||||||||||
| Other operating income* |
96 | 13.9 | 11.7 | 180 | (9.6 | ) | (2.5 | ) | ||||||||||||||||
| Gross income |
364 | 3.8 | 2.7 | 714 | (5.5 | ) | (0.3 | ) | ||||||||||||||||
| Operating expenses |
(144 | ) | 1.7 | 0.9 | (285 | ) | (1.0 | ) | 2.9 | |||||||||||||||
| Net operating income |
220 | 5.2 | 4.0 | 429 | (8.2 | ) | (2.4 | ) | ||||||||||||||||
| Net loan-loss provisions |
12 | — | — | (14 | ) | (41.3 | ) | (41.2 | ) | |||||||||||||||
| Other income |
(1 | ) | (72.4 | ) | (75.0 | ) | (3 | ) | 102.1 | 167.6 | ||||||||||||||
| Profit before taxes |
231 | 28.1 | 26.7 | 412 | (6.8 | ) | (0.7 | ) | ||||||||||||||||
| Tax on profit |
(47 | ) | 23.7 | 23.2 | (85 | ) | (12.4 | ) | (8.6 | ) | ||||||||||||||
| Profit from continuing operations |
184 | 29.3 | 27.6 | 326 | (5.3 | ) | 1.7 | |||||||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
| Consolidated profit |
184 | 29.3 | 27.6 | 326 | (5.3 | ) | 1.7 | |||||||||||||||||
| Minority interests |
4 | (23.9 | ) | (26.0 | ) | 9 | (19.4 | ) | (7.1 | ) | ||||||||||||||
| Attributable profit to the Group |
180 | 31.4 | 29.7 | 317 | (4.8 | ) | 1.9 | |||||||||||||||||
| (*) | Including dividends, income from the equity-accounted method and other operating income/expenses |
| JANUARY - JUNE |
|
| 60 | FINANCIAL REPORT 2014 | INFORMATION BY SECONDARY SEGMENTS |
¢ PRIVATE BANKING, ASSET MANAGEMENT AND INSURANCE. INCOME STATEMENT (EUR million)
| Net operating income | Attibutable profit to the Group | |||||||||||||||||||||||||||||||||||||||||||||||
| o/ 1Q’14 | o/ 1H’13 | o/ 1Q’14 | o/ 1H’13 | |||||||||||||||||||||||||||||||||||||||||||||
| 2Q’14 | % | % w/o FX | 1H’14 | % | % w/o FX | 2Q’ 14 | % | % w/o FX | 1H’14 | % | % w/o FX | |||||||||||||||||||||||||||||||||||||
| Private Banking |
108 | (7.0 | ) | (7.4 | ) | 224 | (11.1 | ) | (8.0 | ) | 81 | 37.1 | 36.6 | 140 | (10.1 | ) | (7.0 | ) | ||||||||||||||||||||||||||||||
| Asset Management |
32 | 70.8 | 66.9 | 51 | (11.8 | ) | (6.5 | ) | 33 | 84.2 | 80.0 | 51 | (12.9 | ) | (7.7 | ) | ||||||||||||||||||||||||||||||||
| Insurance |
79 | 7.6 | 5.6 | 153 | (2.3 | ) | 9.0 | 66 | 10.0 | 7.8 | 126 | 6.3 | 19.8 | |||||||||||||||||||||||||||||||||||
| Total |
220 | 5.2 | 4.0 | 429 | (8.2 | ) | (2.4 | ) | 180 | 31.4 | 29.7 | 317 | (4.8 | ) | 1.9 | |||||||||||||||||||||||||||||||||
|
|
JANUARY - JUNE |
| CORPORATE GOVERNANCE | FINANCIAL REPORT 2014 | 61 |
Corporate Governance
| JANUARY - JUNE |
|
| 62 | FINANCIAL REPORT 2014 | SIGNIFICANT EVENTS IN THE QUARTER |
Significant events in the quarter and subsequent ones
|
|
JANUARY - JUNE |
| CORPORATE SOCIAL RESPONSIBILITY | FINANCIAL REPORT 2014 | 63 |
Corporate Social Responsibility
| JANUARY - JUNE |
|
| 64 | FINANCIAL REPORT 2014 | APPENDIX |
| NOTE: | The financial information for the first half of 2014 and 2013 corresponds to that included in the consolidated summarised financial statements at these dates, drawn up in accordance with the International Accounting Standards (IAS) 34, Interim Financial Information. The accounting policies and methods used are those established by the International Financial Reporting Standards adopted by the European Union (IFRS-EU), Circular 4/2004 of the Bank of Spain and the International Financial Reporting Standards issued by the International Accounting Standards Board (IFRS-IASB). |
CONSOLIDATED INCOME STATEMENT (EUR million)
| 1H’14 | 1H’13 | |||||||
| Interest and similar income |
26,580 | 26,373 | ||||||
| Interest expense and similar charges |
(12,218 | ) | (13,000 | ) | ||||
| INTEREST INCOME |
14,362 | 13,374 | ||||||
| Income from equity instruments |
251 | 204 | ||||||
| Share of results of entities accounted for using the equity method |
108 | 268 | ||||||
| Fee and commission income |
6,034 | 6,350 | ||||||
| Fee and commission expense |
(1,300 | ) | (1,302 | ) | ||||
| Gains/ Losses on financial assets and liabilities (net) |
1,328 | 1,419 | ||||||
| Exchange differences (net) |
(50 | ) | 429 | |||||
| Other operating income |
2,944 | 3,261 | ||||||
| Other operating expenses |
(3,066 | ) | (3,392 | ) | ||||
| GROSS OPERATING INCOME |
20,611 | 20,610 | ||||||
| Administrative expenses |
(8,721 | ) | (8,827 | ) | ||||
| Personnel expenses |
(4,999 | ) | (5,129 | ) | ||||
| Other general expenses |
(3,722 | ) | (3,698 | ) | ||||
| Depreciation and amortisation |
(1,165 | ) | (1,169 | ) | ||||
| Provisions (net) |
(1,506 | ) | (1,178 | ) | ||||
| Impairment losses on financial assets (net) |
(5,369 | ) | (6,013 | ) | ||||
| PROFIT FROM OPERATIONS |
3,850 | 3,422 | ||||||
| Impairment losses on other assets (net) |
(831 | ) | (206 | ) | ||||
| Gains / (Losses) on disposal of assets not classified as non-current assets held for sale |
2,302 | 708 | ||||||
| Negative consolidation difference |
— | — | ||||||
| Gains / (Losses) on non-current assets held for sale not classified as discontinued operations |
(85 | ) | (213 | ) | ||||
| PROFIT/ (LOSS) BEFORE TAX |
5,236 | 3,712 | ||||||
| Income tax |
(1,948 | ) | (891 | ) | ||||
| PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS |
3,288 | 2,821 | ||||||
| Profit from discontinued operations (net) |
— | (14 | ) | |||||
| CONSOLIDATED PROFIT FOR THE PERIOD |
3,288 | 2,807 | ||||||
| Profit for the period attributable to the parent |
2,756 | 2,255 | ||||||
| Profit attributable to minority interests |
532 | 552 | ||||||
| EARNING PER SHARE |
||||||||
| Basic earning per share (euros) |
0.24 | 0.21 | ||||||
| Diluted earning per share (euros) |
0.24 | 0.21 | ||||||
NOTE: The financial information in this report was approved by the Bank’s Board of Directors at its meeting on July 24, 2014, following a favourable report from the Audit Committee on July 22, 2014. In its review, the Audit Committee ensured that the first half information has been drawn up in accordance with the same principles and practices as the annual financial statements.
|
|
JANUARY - JUNE |
| APPENDIX | FINANCIAL REPORT 2014 | 65 |
CONSOLIDATED BALANCE SHEET (EUR million)
| 30.06.14 | 31.12.13 | 30.06.13 | ||||||||||
| ASSETS |
||||||||||||
| Cash and balances with central banks |
83,877 | 77,103 | 81,673 | |||||||||
| Financial assets held for trading |
130,773 | 115,289 | 169,729 | |||||||||
| Other financial assets at fair value through profit or loss |
30,421 | 31,381 | 40,118 | |||||||||
| Available-for-sale financial assets |
90,637 | 83,799 | 105,616 | |||||||||
| Loans and receivables |
755,264 | 714,484 | 730,764 | |||||||||
| Held-to-maturity investments |
— | — | — | |||||||||
| Changes in the fair value of hedged items in portfolio hedges of interest rate risk |
1,384 | 1,627 | 1,859 | |||||||||
| Hedging derivatives |
6,333 | 8,301 | 8,420 | |||||||||
| Non-current asets held for sale |
5,208 | 4,892 | 4,546 | |||||||||
| Investments |
3,603 | 5,536 | 5,012 | |||||||||
| Associates |
1,927 | 2,042 | 2,175 | |||||||||
| Jointly controlled entities |
1,676 | 3,494 | 2,837 | |||||||||
| Insurance contracts linked to pensions |
344 | 342 | 429 | |||||||||
| Reinsurance assets |
359 | 356 | 357 | |||||||||
| Tangible assets |
17,028 | 13,654 | 13,949 | |||||||||
| Property, plant and equipment |
13,730 | 9,974 | 9,979 | |||||||||
| Investment property |
3,298 | 3,680 | 3,970 | |||||||||
| Intangible assets |
29,374 | 26,241 | 26,989 | |||||||||
| Goodwill |
26,663 | 23,281 | 23,878 | |||||||||
| Other intangible assets |
2,711 | 2,960 | 3,111 | |||||||||
| Tax assets |
26,576 | 26,819 | 25,265 | |||||||||
| Current |
4,794 | 5,751 | 5,692 | |||||||||
| Deferred |
21,782 | 21,068 | 19,573 | |||||||||
| Other assets |
6,862 | 5,814 | 8,392 | |||||||||
| TOTAL ASSETS |
1,188,043 | 1,115,638 | 1,223,118 | |||||||||
| LIALIBITIES AND EQUITY |
||||||||||||
| Financial liabilities held for trading |
96,621 | 94,673 | 139,904 | |||||||||
| Other financial liabilities at fair value through profit or loss |
50,446 | 42,311 | 54,779 | |||||||||
| Financial liabilities at amortised cost |
914,107 | 863,114 | 910,139 | |||||||||
| Changes in the fair value of hedged items in portfolio hedges of interest rate risk |
70 | 87 | 117 | |||||||||
| Hedging derivatives |
6,497 | 5,283 | 5,424 | |||||||||
| Liabilities associated with non-current assets held for sale |
1 | 1 | 1 | |||||||||
| Liabilities under insurance contracts |
1,602 | 1,430 | 1,091 | |||||||||
| Provisions |
15,205 | 14,475 | 15,116 | |||||||||
| Tax liabilities |
8,190 | 6,079 | 6,855 | |||||||||
| Current |
4,846 | 4,254 | 4,903 | |||||||||
| Deferred |
3,344 | 1,825 | 1,952 | |||||||||
| Other liabilities |
9,588 | 8,283 | 8,298 | |||||||||
| TOTAL LIABILITIES |
1,102,327 | 1,035,736 | 1,141,724 | |||||||||
| Shareholders’ equity |
87,035 | 84,740 | 83,202 | |||||||||
| Capital or endowment fund |
5,889 | 5,667 | 5,405 | |||||||||
| Share premium |
36,537 | 36,804 | 37,119 | |||||||||
| Reserves |
41,652 | 38,121 | 38,205 | |||||||||
| Other equity instruments |
338 | 193 | 297 | |||||||||
| Less: Treasury shares |
(137 | ) | (9 | ) | (79 | ) | ||||||
| Profit for the year attributable to the Parent |
2,756 | 4,370 | 2,255 | |||||||||
| Less: Dividends and remuneration |
— | (406 | ) | — | ||||||||
| Valuation adjustments |
(11,857 | ) | (14,151 | ) | (11,903 | ) | ||||||
| Available-for-sale financial assets |
911 | 35 | (262 | ) | ||||||||
| Cash flow hedges |
(76 | ) | (233 | ) | (265 | ) | ||||||
| Hedges of net investments in foreign operations |
(2,940 | ) | (1,874 | ) | (2,614 | ) | ||||||
| Exchange differences |
(6,580 | ) | (8,768 | ) | (5,914 | ) | ||||||
| Non-current assets held for sale |
— | — | — | |||||||||
| Entities accounted for using the equity method |
(221 | ) | (446 | ) | (216 | ) | ||||||
| Rest valuation adjustments |
(2,951 | ) | (2,866 | ) | (2,632 | ) | ||||||
| Total equity attributable to the parent |
75,178 | 70,589 | 71,299 | |||||||||
| Minority interests |
10,538 | 9,313 | 10,095 | |||||||||
| Valuation adjustments |
(1,008 | ) | (1,541 | ) | (811 | ) | ||||||
| Other equity instruments |
11,546 | 10,854 | 10,906 | |||||||||
| TOTAL EQUITY |
85,716 | 79,902 | 81,394 | |||||||||
| TOTAL LIABILITIES AND EQUITY |
1,188,043 | 1,115,638 | 1,223,118 | |||||||||
| Pro-memoria |
||||||||||||
| Contingent liabilities |
44,695 | 41,049 | 43,347 | |||||||||
| Contingent commitments |
199,599 | 172,797 | 186,257 | |||||||||
| JANUARY - JUNE |
|
2 Important information Banco Santander, S.A. (“Santander”) cautions that this presentation contains forward-looking statements. These forward-looking statements are found in various places throughout this presentation and include, without limitation, statements concerning our future business development and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: (1) general market, macro-economic, governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates and interest rates; (3) competitive pressures; (4) technological developments; and (5) changes in the financial position or credit worthiness of our customers, obligors and counterparties. The risk factors that we have indicated in our past and future filings and reports, including those with the Securities and Exchange Commission of the United States of America (the “SEC”) could adversely affect our business and financial performance. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and are based on the knowledge, information available and views taken on the date on which they are made; such knowledge, information and views may change at any time. Santander does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person’s own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in the presentation. In making this presentation available, Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments whatsoever. Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000. Note: Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future earnings (including earnings per share) for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments my differ materially from those of such subsidiaries.
3 Important information for investors about Santander’s offer to acquire the minority interests in Santander Brasil Santander has announced a voluntary public tender offer for the exchange of share deposit certificates (“Units”), common shares, preferred shares or American Depositary Shares (“ADSs”) issued by Banco Santander (Brasil) S.A. (“Santander Brasil”) for Brazilian Depositary Shares (“BDSs”) or ADSs representing common shares of Santander (“Exchange Tender Offer”). Potential investors should carefully read the Exchange Tender Offer materials, including the Edital and the Reference Form (Formulário de Referência) to be published by Santander in Brazil, especially the risk factors described in the “Risk Factors” sections of such materials, before deciding whether or not to tender their Santander Brasil Units, shares or ADSs into the Exchange Tender Offer. In connection with the proposed transaction, Santander has filed with the U.S. Securities and Exchange Commission (the “SEC”) a preliminary Registration Statement on Form F-4 that contains a preliminary offer to exchange/prospectus. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, OFFER TO EXCHANGE/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC REGARDING THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE AS THEY CONTAIN IMPORTANT INFORMATION. All such documents filed with the SEC will be available free of charge at the SEC’s website at www.sec.gov
| 4 | Agenda ?Group performance 1H’14 —Highlights —Results ?Business areas performance 1H’14 ?Conclusions ?Appendix |
1H’14 Highlights 5 INCOME STATEMENT Sharp increase in 2Q’14: EUR 1,453 mill. (+12% / 1Q’14) ATTRIBUTABLE PROFIT 1H’14: EUR 2,756 mill. (+22% / 1H’13) Higher gross income and lower costs NII + fee income (+5%) and provisions / 1Q’14 costs (+1%) and provisions (-2%) BALANCE SHEET VOLUMES consolidate trend with Loans: +2% Deposits: 0% a new increase over 1Q’14 Mutual funds: +7% CREDIT QUALITY: NPLs stabilising NPL ratio 5.45% (5.52% in Mar’14) with lower cost of credit CET1: 10.9% Total capital ratio: 12.1% Solid CAPITAL and LIQUIDITY ratios LTD: 114%
| 6 | Income statement |
| 7 | Strong profit recovery over previous quarters continues |
1Q’13 2Q 3Q 4Q 1Q’14 2Q 1,205 1,050 1,055 1,060 1,303 1,453 EUR million Quarterly attributable profit +12%* 1H’13 1H’14 2,255 2,756 Half-year attributable profit +22%* (*) Excluding fx impact: +40% (*) Excluding fx impact: +9% vs. 1Q’14
8 Gross income—Group Net interest income and fee income—Group Constant EUR million EUR million Constant EUR million +3% / 1Q’14 +1% / 1Q’14 1Q’13 2Q’13 3Q 4Q 1Q’14 2Q 10,722 10,847 10,333 10,029 10,124 10,488 6,547 6,728 6,742 6,826 7,063 7,299 1Q’13 2Q 3Q 4Q 1Q’14 2Q Fee income Net interest income 9,810 10,018 10,032 9,872 10,214 10,397 2,284 2,303 2,233 2,299 2,350 2,384
9 EUR million Constant EUR million (1)Average year-on-year inflation for the first half (Source: Thomson Datastream) % in Constant EUR million Costs Average Costs (nominal) inflation1 (real terms) Spain -6.7 0.1 -6.8 Portugal -1.1 -0.2 -0.9 Poland -1.1 0.4 -1.5 Brazil 1.3 6.1 -4.8 SCF (excl. perimeter) 0.8 0.6 0.2 UK 1.6 1.7 -0.1 Mexico 11.9 3.9 8.0 Chile 4.0 3.9 0.1 USA 9.2 1.7 7.5 1Q’13 2Q 3Q 4Q 1Q’14 2Q5,068 5,088 4,943 5,060 4,847 4,906 4,722 4,756 4,814 4,977 4,883 4,870 The Group’s OPERATING EXPENSES reflected integration synergies and the first results of productivity and efficiency plans Group operating expenses 1H’14 / 1H’13 change by principal unit
10 Sustained reduction of COST OF CREDIT due to generalised reduction in provisions 2,850 3,135 2,952 2,747 2,722 2,611 2.45 2.14 1.89 1.69 1.65 1.56 1Q’13 2Q 3Q 4Q 1Q’14 2Q 1Q’13 2Q 3Q 4Q 1Q’14 2Q 3,142 3,399 3,025 2,774 2,695 2,638 EUR million Constant EUR million Cost of credit (%) Loan-loss provisions Note: Cost of credit = 12 month loan-loss provisions / average lending, calculated in current euros
11 (*) Variations excluding fx impact Grupo Santander Results In short, higher profit in the quarter due to higher commercial revenues, costs control and lower cost of credit EUR million 2Q’14 Var. / 1Q’14 1H’14 Var. / 1H’13 % %* % %* NII + fee income 9,773 4.8 2.9 19,095 -2.2 6.9 Gross income 10,488 3.6 1.8 20,611 -4.4 4.0 Operating expenses -4,906 1.2 -0.3 -9,753 -4.0 2.9 Net operating income 5,582 5.8 3.7 10,858 -4.9 4.9 Loan-loss provisions -2,638 -2.1 -4.1 -5,333 -18.5 -10.9 PBT 2,435 13.3 11.1 4,584 16.0 31.8 Attributable profit 1,453 11.6 9.5 2,756 22.2 40.1 Note 2: 2Q’14 profit does not include the net capital gains expected from the announced transactions of Custody (EUR 410 mill.) and Insurance (EUR 250 mill.). Both transactions are expected to be closed in 2H’14. Note 1: Net capital gains of Altamira (EUR 385 mill.), SCUSA (EUR 730 mill.) and changes to the UK benefit pension entitlements (EUR 220 mill.) had no impact on profit. A fund was established for restructuring costs (EUR 744 mill.), and intangible assets impairment (EUR 512 mill.) and other provisions (EUR 79 mill.) made.
12 Balance sheet
13 Gross loans The volumes recovery trend started in Dec?13 continued in 2Q?14 Deposits + Mutual funds Spain Portugal Poland SCF UK USA Brazil Mexico Chile Total Group +2% -0.3% +3% +1% +1% +1% +0.4% +7% +1% +1% Group: +2.4% / Dec?13 Group: +2.4% / Dec?13 % Var. Jun?14 / Mar?14 in constant euros1 (1) Excluding repos Spain Portugal Poland UK USA Brazil Mexico Chile Total Group 0% +1% -2% +0.4% +0% +3% +2% -1% +0.5% % Var. Jun?14 / Mar?14 in constant euros1
14 Grupo Santander credit quality ¡NPL ratio stabilising ¡Sharp drop of NPL entries in recent quarters ¡Higher coverage ratio in 2014 70 67 65 66 67 J’13 S’13 D’13 M’14 J’14 5.15 5.40 5.61 5.52 5.45 J’13 S’13 D’13 M’14 J’14 NPL ratio (%) Coverage ratio (%)
15 2.96 3.04 3.09 2.88 2.93 J’13 S’13 D’13 M’14 J’14 2.01 1.98 1.98 1.88 1.91 J’13 S’13 D’13 M’14 J’14 6.49 6.12 5.64 5.74 5.78 J’13 S’13 D’13 M’14 J’145.75 6.40 7.49 7.61 7.59 J’13 S’13 D’13 M’14 J’14 Spain 23% Portugal 3% Poland 2% Germany 4% Run-off real estate 1% Other Europe 5% UK 34% USA 9% Brazil 10% Mexico 3% Chile 4% Other LatAm 2% NPL ratio by unit (%) Net loans to customers UK Brazil Spain USA Managing different environments
16 High solvency ratios and low leverage CET1 Tier1 LCR Mar’14 Jun’14 10.77% 10.92% 10.77% 10.92% 12.05% 12.07% 1 (1) Considering Spanish regulation on intangibles homogeneous with European one Capital ratios Capital ratio Leverage ratio June 14: 4.5% (stable in the quarter) Above 100% in the Group and principal units (vs. 60% required by Jan.1, 2015) ¡Organic capital generation ¡AT1 issuance ¡Hybrid debt amortisation 1
17 Agenda ?Group performance 1H’14 —Highlights —Results ?Business areas performance 1H’14 ?Conclusions ?Appendix
18 Percentage over operating areas attributable profit, excluding Spain’s run-off real estate Business areas High diversification by country in profit generation Poland, 6% Brazil, 19% Mexico, 8% Chile, 7% Other LatAm, 5% USA, 9% UK, 20% Other Europe, 6% Germany, 5% Spain, 13% Portugal, 2% Attributable profit by country in 1H’14
19 Activity Spain ¡Lending rose for the second straight quarter. In deposits, the focus was kept on cutting costs ¡Higher commercial revenues in 2Q due to net interest income (+4%) and fee income (+3%) ¡Costs reflected integration process (-7% /1H’13) ¡Provisions continue to normalise ¡Sharp profit recovery trend was maintained Var. Jun’14 / Jun’13 Volumes1 Cost of new time deposits EUR million P&L 1.54% 1.41% 1.36% 0.91% 0.75% 2Q’13 3Q 4Q 1Q’14 2Q (1) Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds Loans Funds-4% +0% +2% / 1Q’14 0% / 1Q’14 2Q’14 %1Q’14 1H’14 %1H’13 NII + Fee income 1,663 3.8 3,264 3.4 Gross income 1,782 -0.5 3,574 -0.1 Operating expenses -873 -2.3 -1,767 -6.7 Net op. income 909 1.2 1,807 7.4 LLPs -488 -3.8 -995 -17.4 Attributable profit 261 3.8 513 78.8
20 EUR billion Gross loans Spain Deposits EUR billion (*) Excluding commercial bills Public sector Companies Other loans to individuals Household mortgages Demand deposits Jun’14 94 82 1 177 LTD Spain: 87% ¡Lending (excl. repos): +EUR 3,245 mill. / Dec’13 ¡Rise in new loans (1H’14 / 1H’13): +62% mortgages; +30% companies* ¡Santander Advance (SMEs): high capturing and greater new lending* (+21% /1Q’14) ¡Focusing on profitability improvement -Increase in transactional deposits (demand: +2,800 million in 2Q’14) ¡Further market share gain in mutual funds (+2 p.p. in 12 months ) Jun’13 Dec’13 Mar’14 Jun’14 88 83 83 85 12 13 13 12 51 50 50 50 18 13 14 15 169 159 160 162 (1) Repos (1) Repos 7 7 4 3 5 Loans (excl. repos1) Time deposits Retail commercial paper Deposits (excl. repos1)
21 5.75 6.40 7.49 7.61 7.59 Jun’13 Sep’13 Dec’13 Mar’14 Jun’14 43 45 44 45 45 Spain. NPL ratio and entries (1)Gross NPL entries by date (before recoveries), annualised. Provisional 100 123 142 170 179 179 148 Base 100: 2008 100 102 74 83 78 71 53 100 97 53 44 42 35 27 2008 2009 2010 2011 2012 2013 1H’14 NPL entries1 > 90 days NPL and coverage ratios (%) Coverage ratio Mortgages to individuals Individuals Cards + Consumer loans Companies w/o real estate purpose ¡In 2014, stable NPL ratio due to lower net entries of recoveries (-90% /1H’13) ¡Coverage ratio remained unchanged NPL ratio
22 2.27% 1.84% 1.70% 1.72% 1.69% 2Q’13 3Q 4Q 1Q’14 2Q Activity Portugal ¡Market share gain in loans (+25 b.p. in the last 12 months) backed by individuals and companies ¡Profit normalisation continued, with year-on-year increase of 63% ¡Higher gross income, backed by lower cost of funds and higher trading gains ¡Cost control maintained ¡Sustained trend in cost of credit reduction Var. Jun’14 / Jun’13 Volumes1 Cost of new term deposits (1) Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds Loans Funds -4% -3% -0.3% / 1Q’14 +1% / 1Q’14 EUR million P&L 2Q’14 %1Q’14 1H’14 %1H’13 NII + Fee income 204 1.4 406 -4.0 Gross income 237 4.0 465 0.2 Operating expenses -121 -0.7 -243 -1.1 Net op. income 116 9.5 222 1.7 LLPs -40 18.7 -75 -40.8 Attributable profit 39 9.6 74 62.6
23 Activity Poland Var. Jun’14 / Jun’13 Volumes1 Stock deposit cost 2.51% 1.81% 1.69% 1.69% 1.56% 2Q’13 3Q 4Q 1Q’14 2Q (1) Local currency. Loans excluding repos. Funds: deposits excluding repos + mutual funds ¡Integration completed with enhanced productivity and commercial activity ¡Higher gross income (lower cost of funds and selective growth in volumes) ¡Costs reflected integration ¡Lower loan-loss provisions and cost of credit ¡Double-digit growth in profit before tax over 1H’13 Loans Funds +2% +5% +3% / 1Q’14 -2% / 1Q’14 P&L EUR million (*) Changes excluding fx impact 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 328 3.1 645 13.5 Gross income 353 5.1 687 5.5 Operating expenses -148 0.4 -294 -1.1 Net op. income 205 8.9 393 11.0 LLPs -42 -2.9 -85 -9.1 Attributable profit 88 3.1 173 7.0
24 Activity Santander Consumer Finance – Continental Europe ¡Market share gain in a recovering market ¡High recurring P&L with profit growing and improved profitability ¡PBT growth in most countries. Of note: Nordic countries, Poland, Spain and Portugal. ¡Promoting business through strategic alliances: GE capital acquisition (Sweden, Denmark and Norway) and signing of agreement with Banque PSA Finance, to materialise in 2015. 2Q’13 3Q 4Q 1Q’14 2Q2.6% 2.6% 2.7% 2.6% 2.8% NII – Provisions / ATAs Volumes Note: Not including Santander Consumer UK profit, as it is recorded in Santander UK results. If included, 2Q14 attributable profit: EUR 265 mill. (+5% q-o-q and +20% y-o-y) 3.41% 3.48% 3.31% 3.33% 3.50% 0.77% 0.93% 0.61% 0.74% 0.70% Gross loans New loans +4% +12% EUR million P&L 2Q’14 %1Q’14 1H’14 %1H’13 NII + Fee income 822 2,8 1.622 4,1 Gross income 827 3,4 1.626 4,9 Operating expenses -357 -2,4 -722 4,3 Net op. income 470 8,3 904 5,3 LLPs -123 -5,2 -252 -16,5 Attributable profit 237 8,6 456 21,0 Var. Jun’14 / Jun’13 Prov. NII +1% / 1Q’14 +9% / 1Q’14
25 Spain run-off real estate ¡Total real estate exposure dropped 15% in the last twelve months (loans -25%) ¡Coverage ratios remained above 50% ¡1H’14 attributable profit : -EUR 307 mill. (-EUR 337 mill. in 1H’13) Jun’13 Sep’13 Dec’13 Mar’14 Jun’14 6.5 6.2 5.7 5.2 4.9 3.6 3.7 3.6 3.6 3.5 11.6 11.4 10.8 10.3 9.8 EUR billion Loans Foreclosures 52% 55% Total balance sheet Coverage ratio Net foreclosures Net loans Equity stakes Buildings: 43% Land: 62%
26 United Kingdom Loans Funds -1% -3% Var. Jun’14 / Jun’13 Volumes1 Banking NIM2 1.46% 1.59% 1.71% 1.79% 1.81% 2Q’13 3Q 4Q 1Q’14 2Q Activity +1% / 1Q’14 +0.4% / 1Q’14 £ million P&L 2Q’14 %1Q’14 1H’14 %1H’13 NII + Fee income 1,045 2.1 2,068 14.8 Gross income 1,105 0.4 2,205 9.1 Operating expenses -571 -0.5 -1,145 1.6 Net op. income 533 1.4 1,059 18.4 LLPs -71 -28.8 -170 -28.8 Attributable profit 325 4.6 636 53.6 ¡Continuing transformation of our retail and commercial banking franchise, reflected in the results ¡In 1H’14 customer loans grew 1% with customer funds up 2% ¡Good revenue performance due to reduced cost of deposits and renewed loan growth ¡Control of costs to accommodate investments in the Bank’s business transformation ¡Provisions reflect good credit management and positive momentum across the UK economy (1) Volumes in local currency. Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds (2) In local criteria
27 United Kingdom Boosting retail customers … Jun’12 Jun’13 Jun’14 13.3 21.3 35.1 £ billion 1?2?3 +65% Jun’12 Jun’13 Jun’14 0.4 1.9 3.0 Million … and corporates Jun’12 Jun’13 Jun’149% 11% 12% Jun’12 Jun’13 Jun’14 19.0 21.0 23.1 £ billion +10% +11% +60% Current accounts 1|2|3 World Customers Corporate loans / Total loans Corporate loans Launch C/A (March’12) ¡First choice for customers switching1 their current account provider to Santander UK (1 in 4) ¡Total deposits held by primary banking customers up 36% over 12 months ¡Further progress with business diversification; double-digit growth in loans and deposits ¡Building our capability; more regional centres for SMEs, and more relationship managers servicing larger corporates (1)Since the introduction in September 2013 of the new system to help customers with their current account switching.
28 Activity USA Var. Jun’14 / Jun’13
Gross loans New loans +21% +58% Santander Bank1 SCUSA Var. Jun’14 / Jun’13 (1) Local currency. Loans excluding repos. Funds: deposits excluding
repos + marketed mutual funds. +3% / 1Q’14 ¡Higher profit in the second quarter in Santander Bank, SCUSA and Puerto Rico ¡Gross income
backed by volumes. Santander Bank’s rose in 1Q and 2Q, changing the trend ¡Costs impacted by regulation costs (qualitative improvement of Capital Plan)
¡Lower provisions in the quarter due to SCUSA, with coverage ratio already at 282% in June +1% / 1Q’14 +0.2% / 1Q’14 -12% / 1Q’14 US$ million P&L 2Q’14 %1Q’14
1H’14 %1H’13 NII + Fee income 1,798 4.1 3,527 15.8 Gross income 1,864 4.2 3,653 17.4 Operating expenses -649 -0.5 -1,301 9.2 Net op. income 1,215 6.9 2,352 22.5 LLPs -684 -8.6 -1,433 79.2 Attributable profit 272 25.8 488 -21.8 Loans Funds
+3% +1%
29 Loans Funds +4% +14% Brazil Var. Jun’14 / Jun’13 Volumes1 Activity 2Q’13 3Q 4Q 1Q’14 2Q 3.5% 3.5% 3.7% 3.8% 3.7%
NII – Provisions / ATAs 7.10% 6.56% 6.59% 6.48% 6.27% 3.59% 3.11% 2.88% 2.67% 2.55% ¡Lending growth impacted by macroeconomic environment. Funds performed better ¡Gross income reflected lending performance and change of mix, and lower trading gains ¡Costs well below inflation (efficiency plan) ¡Further reduction in provisions and cost of credit ¡Improved profit compared to previous quarters +0.4% / 1Q’14 +3% / 1Q’14 (1) Local
currency. Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds EUR million P&L 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 2,979 -0.5 5,807 -2.7 Gross income 2,986 -1.1 5,838 -6.0 Operating expenses
-1,196 -0.3 -2,328 1.3 Net op. income 1,791 -1.7 3,509 -10.2 LLPs -933 -2.7 -1,837 -23.7 Attributable profit 395 2.6 758 -2.5 (*) Changes excluding fx impact Prov.
NII
30 90 91 92 95 95 95 6.90 6.49 6.12 5.64 5.74 5.78 M’13 J’13 S’13 D’13 M’14 J’14 1Q’13 2Q 3Q 4Q 1Q’14 2Q 2,346 2,322 2,203 2,253 2,264 2,230 11.1 10.5 9.9 9.8 9.9 9.8 Brazil Net interest income still affected by reduced lending growth and change of mix 1 (1)Rest = Consumer, payrolls, auto, cards, cheque and personal loans Net Interest Income Lending portfolio Var. Jun’14 / Mar’14 1Q’13 2Q 3Q 4Q 1Q’14 2Q 1,232 1,175 1,044 984 931 906 7.5% 7.1% 6.7% 6.3% 5.8% 5.4% Credit quality Constant EUR million Reduction in provisions and cost of credit continued, consistent with higher coverage LLPs and cost of credit Constant EUR million Coverage ratio NPL ratio NII and loan spreads NPL and coverage ratios (%) Net interest income Loan spreads Mortgages Other individuals SMEs / Companies Large companies Total+7% -2% -1% +2% +0.4% Net loan-loss provisions Cost of credit
31 Mexico ¡Expansion plan reflected in market share gain of 1.1 p.p. y-o-y in loans and demand deposits ¡Higher gross income due to volumes. Impact from lower benchmark rate and change of mix ¡Costs reflected expansion plan ¡Provisions grew at a slower pace year-on-year. Lower cost of credit ¡Attributable profit rose in the quarter. Higher tax rate in year-on-year terms Loans Funds +19% +9% Var. Jun’14 / Jun’13 Volumes1 Activity +7% / 1Q’14 +2% / 1Q’14 2Q’13 3Q 4Q 1Q’14 2Q2.5% 2.3% 2.6% 2.7% 2.5% NII – Provisions / ATAs 3.85% 4.37% 4.42% 4.10% 3.98% 1.31% 2.09% 1.81% 1.44% 1.43% (1) Local currency. Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds P&L 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 720 1.3 1,419 6.4 Gross income 775 6.9 1,488 3.8 Operating expenses -312 0.1 -619 11.9 Net op. income 463 12.1 870 -1.3 LLPs -191 5.0 -369 23.7 BAI 271 17.6 497 -17.9 Attributable profit 169 20.3 307 -24.0 EUR million (*) Changes excluding fx impact Prov. NII
32 P&L Chile ¡Growth in loans (SMEs, companies and affluent clients) and better funding mix (demand: +11%) ¡Higher gross income due to inflation, volumes and cost of funds. Impact from regulation on fee income ¡Costs in 2Q reflected the impact of salary agreement ¡Cost of credit continued to improve ¡High profit both in the quarter and the first half, partly due to inflation Loans Funds +9% +8% Var. Jun’14 / Jun’13 Volumes1 Activity +1% / 1Q’14 -1% / 1Q’14 2Q’13 3Q 4Q 1Q’14 2Q2.5% 2.9% 2.9% 3.0% 3.5% NII – Provisions / ATAs 3.86% 4.39% 4.38% 4.26% 4.69% 1.40% 1.52% 1.44% 1.21% 1.,24% (1)Local currency. Loans excluding repos. Funds: deposits excluding repos + marketed mutual funds 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 526 8.1 1,015 20.9 Gross income 551 4.0 1,084 17.8 Operating expenses -210 5.2 -411 4.0 Net op. income 341 3.3 672 28.1 LLPs -118 2.2 -234 -6.6 Attributable profit 132 8.2 255 53.3 EUR million (*) Changes excluding fx impact Prov. NII
33 Other Latin American countries ¡Focus on linkage, transactional business and target segments ¡Volumes growing at double-digit rates in all units ¡P&L underpinned by gross income Argentina Constant EUR million Attributable profit Uruguay Peru 1H’13 2H’13 1H’14104 120 135 1H’13 2H’13 1H’14 23 24 25 1H’13 2H’13 1H’14 8 10 10
34 Corporate Activities ¡Lower losses than in 1H’13, when a charge for the integration of the banks in Spain was recorded ¡Similar gross income: higher net interest income due to reduced cost of issues offset by lower trading gains P&L 1H’14 1H’13 Gross income -461 -460 Operating expenses -389 -353 Provisions, tax and minority interests 1 -249 Attributable profit -849 -1,062 EUR million
35 Agenda ?Group performance 1H’14 —Highlights —Results ?Business areas performance 1H’14 ?Conclusions ?Appendix
36 Better revenues dynamic. Main drivers: ?Loan growth with mature markets recovering ?Lower cost of funds Operating expenses performing well Provisions on a reduction trend, towards normalisation The Group’s profit rose sharply with better-quality results 2012 / 2011 2013 / 2012 1H’14/1H’13-18.2% -9.5% +26.6% OPERATING PROFIT—GROUP (Net op. income after provisions) Current euros -18.1% -16.2% +13.4% Plans to improve productivity, efficiency and linkage Business portfolio and ongoing transactions offer future growth potential Second quarter summary Year-on-year change in constant euros
37 Agenda ?Group performance 1H’14 —Highlights —Results ?Business areas performance 1H’14 ?Conclusions ?Appendix
38 Group balance sheet Appendix Liquidity and funding Secondary segment results NPL, coverage ratios and cost of credit Spreads Quarterly income statements Business transformation and portfolio management
39 Group balance sheet
40 Highlights of the Group balance sheet
Lending:
60% of balance sheet Derivatives (with counterparty on the liabilities side): 6% of balance sheet Cash, central banks and credit institutions: 14% Other (goodwill, fixed assets, accruals): 9% Available for sale portfolio (AFS): 6% Trading portfolio:
5% 1 3 2 4 5 6 (*) Other assets: Goodwill EUR 27 bn., tangible and intangible assets EUR 20 bn., other capital instruments at fair value EUR 1 bn., accruals and other accounts EUR 55 bn. Retail balance sheet, appropriate for a low risk business
model, liquid and well capitalised Assets Liabilities 707 102 103 211 64 618 76 41 71 88 167 128 1,188 1,188 Miles de millones de euros Other* 1 6 5 4 3 2 Balance sheet at June 2014 Net loans to customers Derivatives Cash and credit institutions AFS
portfolio Trading portfolio Customer deposits Issues and subordinated liabilities Credit institutions Other Derivatives Shareholders’ equity & fixed liabilities
41 Liquidity and funding
42 Liquidity and funding Structural liquidity1 surplus: EUR 151 bill. (16% net liabilities) Commercial Gap: EUR 89.1 bill. Well-funded balance sheet with high structural liquidity surplus June 2014. EUR billion Santander Group liquidity balance sheet Net loans to customers Deposits M/L term funding Financial assets Equity (86) and other (27) Securitisations Fixed assets & other Note: Liquidity balance sheet for management purposes (net of trading derivatives and interbank balances). Provisional (1) Financial assets – short term wholesale funding markets Assets Liabilities 172 21 72 113 707 135 64 618
43 LTD ratio Deposits + M/L term funding / (net loans / deposits) net loans Spain 87% 156% Portugal 104% 112% Santander Consumer Finance 189% 74% Poland 93% 110% UK 124% 108% Brazil 104% 126% Mexico 99% 106% Chile 144% 92% Argentina 84% 121% USA* 150% 103% Group Total 114% 116% Adequate liquidity structure of stand-alone units Liquidity and funding June 2014 Main units and liquidity ratios (*) Including Santander Bank, Puerto Rico and SCUSA (the latter by global integration in 2014; in 2013 by the equity accounted method).
44 June 2014 Sterling area, 26% Euro area, 47% US$ area, 27% Total 1H’13 1H’14 7 8 13 20 20 28 Higher recourse to wholesale funding at the start of the year, backed by improved markets conditions Liquidity and funding Diversified issuances 1H’2014 Issuance (EUR bn.) M/L term issuance Securitisations1 (1)Placed in the market and including structured finance Note: 2013 data on a like-for-like basis
45 Secondary segment results
46 Retail Banking Activity EUR million P&L EUR billion EUR million 1Q’13 2Q 3Q 4Q 1Q’14 2Q 9,279 9,414 8,847 8,803 8,707 9,041 Gross income 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 8,988 1.6 17,670 6.0 Gross income 9,041 2.0 17,749 3.4 Operating expenses -4,065 -0.6 -8,087 2.1 Net op. income 4,976 4.2 9,661 4.5 LLPs -2,372 -6.7 -4,858 -7.9 Attributable profit 1,450 15.2 2,692 18.6 Net loans Deposits (*) -3% excluding FX impact (*) +1% excluding FX impact ¡Sharp exchange rate impact in recent quarters ¡Excluding this impact: -Recovery of net interest income + fee income, (+2% / 1Q’14; +6% / 1H’13) -Costs in line with inflation -Provisions on a downward trend Jun’13 Jun’14 599 610 +2%* Jun’13 Jun’14 521 508 -2%* (*) excluding FX impact
47 Consumer Business Includes Continental Europe, United Kingdom and USA (SCUSA) Basic data Gross loans (Jun’14): EUR 85 bn.
Attributable profit 1H’14: EUR 685 mill. Continental Europe UK USA (SCUSA) 61 5 19 Continental Europe UK USA (SCUSA) 456 61 168 84,761 18.4 157,000 Countries
14 61 Top 31 in 12 countries 30,736 EUR million in 1H’14 Attributable profit 685 EUR billion EUR million Agreements with manufacturers for “captive” financing EUR million in loans Dealers-participants EUR million in deposits Million
customers (1)Market share of new car financing and/or durable goods loans
48 1Q13 2Q 3Q 4Q 1Q14 2Q1,253 1,057 1,169 1,092 1,168 1,174 1,371 1,196 1,306 1,214 1,298 1,335 Global Wholesale Banking (GBM) TOTAL Financing solutions & advisory TOTAL Trading y capital Customers Customers +1%* Gross income P&L EUR million EUR million Global Transaction Services Global Markets Trading and capital (*) Excluding FX impact: total revenues: +10%; customer revenues +7% ¡Customer revenues account for 89% of the total ¡Gross income growth in constant euros (+10% /1H’13; +2% /1Q’14) ¡Excellent efficiency ratio: 34% ¡Higher provisions in the quarter 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 1,026 9.7 1,947 11.7 Gross income 1,335 1.5 2,633 10.1 Operating expenses -445 -0.1 -886 5.5 Net op. income 890 2.3 1,748 12.6 LLPs -200 85.9 -308 0.9 Attributable profit 428 -11.0 902 14.9 917 848 531 576 863 917 256 292 1H’13 1H’14 +3%* -8% +6% +14% +9% 2,567 2,633 (*) excluding FX impact
49 Private Banking, Asset Management and Insurance 458 424 479 484 1,384 1,279
2,321 2,187 1H’13 1H’14 1Q’13 2Q 3Q 4Q 1Q’14 2Q 221 237 217 206 215 208 234 246 243 195 233 251 706 678 618 643 631 648 1,161 1,161 1,078 1,044 1,080 1,107 -6%2
-7% TOTAL -8% TOTAL +1% Total revenues for the Group1 P&L (*) Including fees paid to the Group retail networks EUR million EUR million (2) At constant perimeter and FX rates: Total +2%; Insurance 0%; Asset Mgmt.+12%: Private Banking:
-4% Private Banking Private Banking Insurance Asset Management Insurance Asset Management 2Q’14 %1Q’14* 1H’14 %1H’13* NII + Fee income 256 -1.2 514 1.6 Gross income 364 2.7 714 -0.3 Operating expenses -144 0.9 -285 2.9 Net op.
income 220 4.0 429 -2.4 LLPs 12 — -14 -41,2 Attributable profit 180 29.7 317 1.9 ¡Impacted by fx rates and reduced perimeter due to sale of 50% of mgmt. companies ¡Large gross income contribution to the Group (+10% of operating areas total) ¡At constant perimeter and fx rates, total gross income for the Group
increased (+2% / 1H’13) (*) excluding FX impact
50 Business transformation and portfolio management
51 CUSTOMER Progress in the Group’s business transformation Specialised global models by segment Profitable linkage Committed to customer satisfaction Customer-driven Innovation Distribution models updating ¡Santander Select (high income) ¡Santander Advance (SMEs) ¡Specialised services for companies ¡NEOCRM Extension (global tool) ¡Continuous improvement: 25 customer-journeys in 2014 ¡1st / on-boarding new customers ¡Observatory (USA) and LABs (at least in 3 countries) ¡Santander InnoVenture Fund (UK) ¡Multichannel transformation ¡Customer’s choice
52 Disposal of non-strategic lines Altamira Enhance strategic businesses SCF: GE Nordics, PSA, ECI Brazil: GetNet Alliances to bolster our position Custody, Asset Mgmt. companies, Insurance CNP Investing in the future
53 NPL, coverage ratios and cost of credit
54 NPL ratios%31.03.1330.06.1330.09.1331.12.1331.03.1430.06.14Continental Europe6.627.838.489.139.129.04 Spain4.125.756.407.497.617.59 Portugal6.887.417.868.128.268.16 Poland7.398.087.757.847.357.42 Santander Consumer Finance3.984.043.964.014.144.07United Kingdom2.032.011.981.981.881.91Latin America5.405.235.295.005.065.03 Brazil6.906.496.125.645.745.78 Mexico1.922.203.583.663.623.52 Chile5.515.816.005.915.995.94USA3.012.963.043.092.882.93Operating Areas4.705.135.395.615.545.46Total Group4.755.155.405.615.525.45
Coverage ratio % 31.03.13 30.06.13 30.09.13 31.12.13 31.03.14 30.06.14 Continental Europe 71.0 63.3 61.1 57.3 58.0 58.3 Spain 50.3 43.1 45.0 44.0 44.6 44.9 Portugal 52.9 52.4 51.9 50.0 50.6 53.1 Poland 67.6 59.3 64.1 61.8 64.6 65.3 Santander Consumer Finance 108.7 106.9 109.2 105.3 105.1 105.2 United Kingdom 42.1 42.1 41.6 41.6 42.9 41.1 Latin America 87.4 86.1 83.6 85.4 86.1 86.3 Brazil 90.4 91.3 92.0 95.1 95.2 94.8 Mexico 157.1 142.7 99.0 97.5 98.6 96.6 Chile 53.9 49.9 49.7 51.1 50.7 51.7 USA 149.6 156.5 148.9 148.1 163.3 165.0 Operating Areas 75.0 69.6 67.2 64.6 66.0 66.4 Total Group 74.1 69.7 67.1 64.9 66.3 66.7
56 Cost of credit % 31.03.13 30.06.13 30.09.13 31.12.13 31.03.14 30.06.14 Continental Europe 3.13 2.33 1.71 1.23 1.21 1.14 Spain 1.23
1.26 1.36 1.36 1.37 1.31 Portugal 1.18 1.10 0.93 0.73 0.63 0.55 Poland 1.22 1.18 1.09 1.01 0.98 0.92 Santander Consumer Finance 1.26 1.15 1.13 0.96 0.89 0.87 United Kingdom 0.29 0.26 0.26 0.24 0.23 0.22 Latin America 5.07 4.87 4.73 4.53 4.24 3.95
Brazil 7.46 7.07 6.72 6.34 5.82 5.38 Mexico 2.46 2.73 3.27 3.47 3.59 3.58 Chile 1.95 2.00 1.96 1.92 1.82 1.76 USA 1.89 1.95 2.17 2.48 2.94 3.15 Operating Areas 2.49 2.15 1.85 1.65 1.61 1.55 Total Group 2.45 2.14 1.89 1.69 1.65 1.56
Cost of credit = 12 month loan-loss provisions / average lending
57 Jun’14 53% Gross risk Coverage Net Fund Risk Non-performing 7,517 4,426 3,091 Substandard1 2,286 831 1,455 Foreclosed real estate 7,919 4,392 3,527 Total problematic assets 17,722 9,649 8,073 Performing loans2 330 0 330 Real estate exposure 18,052 9,649 8,403 Spain run-off real estate. Exposure and coverage ratios Non-performing 59% Substandard1 36% Foreclosed real estate 55% Total problematic assets 54% Performing loans2 0% Total coverage (problematic assets + performing loans) Coverage by borrowers’ situation (June 2014) provisions / exposure (%) EUR Million (1)100% up-to-date with payments (2)Performing loans: loans up-to-date with payments Total real estate exposure
58 Spain run-off real estate. Loans and foreclosures Finished buildings 4,046 4,673 -627 Buildings under constr. 527 614 -87 Developed
land 3,177 3,124 +53 Building and other land 892 1,116 -224 Non mortgage guarantee 1,491 1,828 -337 Total 10,133 11,355 -1,222 Finished buildings 2,341 42% 1,353 Buildings under constr. 475 47% 254 Developed land 2,523 61% 992 Building land 2,506
64% 900 Other land 74 62% 28 Total 7,919 55% 3,527 LOANS with real estate purpose Foreclosed REAL ESTATE (June 2014) EUR Million EUR Million
Jun’14
Dec’13 Var. Gross amount Coverage Net amount
59 Spreads
60 Spreads on loans and deposits % 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 Retail Banking Spain Loan spreads 2.21 2.26 2.33 2.43 2.39 2.36 Deposit spreads 0.16 0.28 0.15 0.20 0.45 0.47 TOTAL 2.37 2.54 2.48 2.63 2.84 2.83 Retail Banking Portugal Loan spreads 2.44 2.44 2.44 2.42 2.44 2.39 Deposit spreads (1.22) (1.18) (1.06) (0.99) (0.93) (0.84) TOTAL 1.22 1.26 1.38 1.43 1.51 1.55 Retail Banking Poland Loan spreads 2.41 2.45 2.43 2.53 2.51 2.47 Deposit spreads 0.73 0.72 0.73 0.98 1.12 1.22 TOTAL 3.14 3.17 3.16 3.51 3.63 3.69 Santander Consumer Finance Loan spreads 4.76 4.83 4.93 4.91 5.04 5.03 Retail Banking United Kingdom Loan spreads 2.78 2.80 2.85 2.84 2.83 2.76 Deposit spreads (1.25) (1.17) (1.00) (0.86) (0.82) (0.70) TOTAL 1.53 1.63 1.85 1.98 2.01 2.06
61 Spreads on loans and deposits%1Q 132Q 133Q 134Q 131Q 142Q 14Retail Banking Brazil Loan spreads13.0912.5111.9311.8211.7611.60 Deposit spreads0.720.750.840.950.900.92 TOTAL13.8113.2612.7712.7712.6612.52Retail Banking Mexico Loan spreads8.468.418.348.238.177.83 Deposit spreads1.861.641.561.511.521.46 TOTAL10.3210.059.909.749.699.29Retail Banking Chile Loan spreads4.314.274.013.983.984.00 Deposit spreads2.392.472.422.312.352.37 TOTAL6.706.746.436.296.336.37Retail Banking USA Loan spreads2.512.522.522.492.442.57 Deposit spreads0.340.330.570.410.730.65 TOTAL2.852.853.092.903.173.22
62 Cuentas trimestrales de P&L
63 Santander GroupEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income9,6899,8339,2459,2759,3239,77319,52219,095Gross income10,72210,84710,33310,02910,12410,48821,57020,611Operating expenses(5,068)(5,088)(4,943)(5,060)(4,847)(4,906)(10,155)(9,753)Net operating income5,6555,7605,3904,9685,2775,58211,41410,858Net loan-loss provisions(3,142)(3,399)(3,025)(2,774)(2,695)(2,638)(6,541)(5,333)Other(372)(549)(509)(366)(433)(508)(921)(942)Profit before taxes2,1411,8121,8561,8282,1492,4353,9534,584Consolidated profit1,5641,3451,3371,3011,5791,7712,9083,350Attributable profit1,2051,0501,0551,0601,3031,4532,2552,756
64 Santander GroupConstant EUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income8,8319,0318,9769,1259,4139,68317,86219,095Gross income9,81010,01810,0329,87210,21410,39719,82820,611Operating expenses(4,722)(4,756)(4,814)(4,977)(4,883)(4,870)(9,478)(9,753)Net operating income5,0885,2615,2184,8955,3315,52710,35010,858Net loan-loss provisions(2,850)(3,135)(2,952)(2,747)(2,722)(2,611)(5,985)(5,333)Other(359)(528)(497)(354)(438)(504)(887)(942)Profit before taxes1,8801,5981,7691,7942,1712,4133,4784,584Consolidated profit1,3661,1831,2781,2801,5961,7552,5493,350Attributable profit1,0489191,0071,0421,3161,4401,9672,756
65 Continental EuropeEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income2,8782,9502,8592,8412,9733,0775,8276,050Gross income3,1713,1633,1522,9793,1963,2566,3336,452Operating expenses(1,651)(1,619)(1,607)(1,618)(1,607)(1,582)(3,270)(3,189)Net operating income1,5201,5431,5451,3611,5891,6733,0643,263Net loan-loss provisions(901)(993)(946)(763)(791)(770)(1,894)(1,561)Other(192)(194)(188)(185)(152)(196)(387)(348)Profit before taxes4273564114136477077821,354Consolidated profit3312903273014995366211,036Attributable profit303248283282463499551962
66 SpainEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income1,5571,6021,5081,5241,6021,6633,1583,264Gross income1,7981,7801,7421,6341,7921,7823,5783,574Operating expenses(953)(941)(936)(902)(894)(873)(1,895)(1,767)Net operating income8448388057328989091,6831,807Net loan-loss provisions(516)(690)(630)(575)(507)(488)(1,205)(995)Other(36)(29)(59)(11)(33)(51)(65)(84)Profit before taxes293119116145358370412728Consolidated profit204848198253261288514Attributable profit203848198251261287513
67 PortugalEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income202221211198202204423406Gross income231233228224228237465465Operating expenses(124)(122)(123)(126)(122)(121)(246)(243)Net operating income10711210597106116219222Net loan-loss provisions(64)(62)(56)(11)(34)(40)(126)(75)Other(13)(17)(6)(42)(30)(29)(30)(59)Profit before taxes3132444442476389Consolidated profit2125322933374670Attributable profit2125323736394674
68 PolandEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income278290302310317328568645Gross income315337342323334353651687Operating expenses(156)(142)(136)(159)(147)(148)(297)(294)Net operating income159195206165188205354393Net loan-loss provisions(42)(51)(35)(39)(43)(42)(93)(85)Other(5)6(2)(4)(3)(16)1(19)Profit before taxes112149169121142147261289Consolidated profit9012313596115120213235Attributable profit7091100728588161173
69 PolandConstant EUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income276292307310318327568645Gross income313338348324335352652687Operating expenses(155)(142)(139)(159)(147)(147)(297)(294)Net operating income158196209165188205354393Net loan-loss provisions(42)(52)(36)(39)(43)(42)(93)(85)Other(5)6(2)(4)(3)(16)1(19)Profit before taxes112150172121142147261289Consolidated profit9012313896116120213235Attributable profit7091102738588161173
70 Santander Consumer FinanceEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income7797797997628008221,5581,622Gross income7767758017598008271,5511,626Operating expenses(351)(341)(345)(353)(366)(357)(692)(722)Net operating income425434456405434470859904Net loan-loss provisions(171)(131)(158)(105)(130)(123)(302)(252)Other(21)(29)(15)(5)(14)(17)(50)(31)Profit before taxes233274283295291330507621Consolidated profit184210217213225245394470Attributable profit176201208209219237377456
71 United KingdomGBP million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income8969069561,0141,0231,0451,8022,068Gross income9731,0481,0221,1001,1001,1052,0222,205Operating expenses(560)(567)(538)(547)(574)(571)(1,127)(1,145)Net operating income4134814845535265338941,059Net loan-loss provisions(137)(103)(132)(121)(99)(71)(239)(170)Other(35)(87)(22)(55)(38)(51)(123)(90)Profit before taxes241291330377388411532799Consolidated profit191224261301311325414636Attributable profit191224261301311325414636
72 United StatesUSD million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income1,4881,5581,6311,6581,7281,7983,0463,527Gross income1,5381,5731,6221,7211,7891,8643,1113,653Operating expenses(586)(605)(637)(676)(652)(649)(1,192)(1,301)Net operating income9529689851,0451,1371,2151,9192,352Net loan-loss provisions(337)(462)(561)(657)(749)(684)(799)(1,433)Other(14)(24)(38)(37)(3)(4)(38)(7)Profit before taxes6014813863513855271,082912Consolidated profit413349288244276362762638Attributable profit333292233206216272624488
73 BrazilEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income3,5633,4842,8992,9922,8282,9797,0475,807Gross income3,7813,5523,1153,0702,8512,9867,3335,838Operating expenses(1,359)(1,356)(1,263)(1,346)(1,133)(1,196)(2,715)(2,328)Net operating income2,4222,1961,8521,7241,7191,7914,6183,509Net loan-loss provisions(1,471)(1,372)(1,065)(985)(905)(933)(2,844)(1,837)Other(78)(133)(126)(162)(143)(166)(210)(308)Profit before taxes8736916615776716931,5641,364Consolidated profit6525254693924695041,178974Attributable profit499420358301364395919758
74 BrazilConstant EUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income2,9842,9822,8172,9422,9122,8965,9665,807Gross income3,1673,0413,0183,0262,9352,9026,2095,838Operating expenses(1,138)(1,160)(1,214)(1,312)(1,166)(1,162)(2,299)(2,328)Net operating income2,0291,8811,8041,7131,7691,7403,9103,509Net loan-loss provisions(1,232)(1,175)(1,044)(984)(931)(906)(2,408)(1,837)Other(65)(113)(119)(155)(147)(161)(178)(308)Profit before taxes7315936415746916731,3241,364Consolidated profit546451457393483491997974Attributable profit418360350302374384778758
75 MexicoEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income7257307307186997201,4551,419Gross income7707957517057137751,5651,488Operating expenses(299)(304)(307)(315)(307)(312)(603)(619)Net operating income472490444390407463962870Net loan-loss provisions(142)(184)(257)(218)(179)(191)(326)(369)Other26(2)(3)(4)(2)(2)24(3)Profit before taxes355305184168226271660497Consolidated profit315263162193178214578392Attributable profit241199123149138169441307
76 Mexico Constant EUR million 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 2Q 14 1H 13 1H 14 NII + Fee income 673 660 694 708 705 714 1,333 1,419 Gross income 716 719 715 697 719 769 1,434 1,488 Operating expenses (277) (275) (292) (309) (309) (309) (553) (619) Net operating income 438 443 423 387 410 460 882 870 Net loan-loss provisions (132) (167) (242) (214) (180) (189) (299) (369) Other 24 (2) (3) (3) (2) (2) 22 (3) Profit before taxes 330 275 178 170 228 269 605 497 Consolidated profit 293 237 157 193 180 213 529 392 Attributable profit 224 180 119 148 139 168 404 307
77 ChileEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income5125025335214895261,0131,015Gross income5505605735665335511,1101,084Operating expenses(232)(245)(231)(218)(201)(210)(477)(411)Net operating income319314342348332341633672Net loan-loss provisions(155)(147)(153)(142)(116)(118)(302)(234)Other(1)36(4)(7)(3)2(9)Profit before taxes163170194203209220333429Consolidated profit148140166169176192288367Attributable profit10397116119123132201255
78 ChileConstant EUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income4214194714814885278401,015Gross income4534675065225315529201,084Operating expenses(191)(205)(205)(202)(200)(211)(395)(411)Net operating income262262302320331342525672Net loan-loss provisions(127)(123)(136)(131)(116)(118)(250)(234)Other(1)35(3)(7)(3)2(9)Profit before taxes134142170186208221276429Consolidated profit122117146155175192238367Attributable profit8581102109122132166255
79 Corporate ActivitiesEUR million1Q 132Q 133Q 134Q 131Q 142Q 141H 131H 14NII + Fee income(588)(526)(541)(618)(542)(495)(1,114)(1,037)Gross income(322)(138)(163)(314)(224)(237)(460)(461)Operating expenses(177)(176)(176)(167)(191)(197)(353)(389)Net operating income(499)(314)(339)(482)(416)(434)(812)(850)Net loan-loss provisions(29)(189)1421(1)(218)0Other(66)(89)(124)106(72)(67)(155)(139)Ordinary profit before taxes(594)(591)(448)(374)(487)(502)(1,185)(989)Ordinary consolidated profit(543)(521)(432)(374)(408)(444)(1,064)(852)Ordinary attributable profit(543)(519)(430)(384)(405)(444)(1,062)(849)Attributable profit(543)(519)(430)(384)(405)(444)(1,062)(849)
Key consolidated data
| Variation | ||||||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | 2013 | ||||||||||||||||
| Balance sheet (EUR million) |
||||||||||||||||||||
| Total assets |
1,188,043 | 1,239,415 | (51,372 | ) | (4.1 | ) | 1,134,003 | |||||||||||||
| Net customer loans |
706,899 | 715,023 | (8,124 | ) | (1.1 | ) | 684,690 | |||||||||||||
| Customer deposits |
617,761 | 644,934 | (27,173 | ) | (4.2 | ) | 607,836 | |||||||||||||
| Managed and marketed customer funds |
982,494 | 991,774 | (9,280 | ) | (0.9 | ) | 946,210 | |||||||||||||
| Shareholders’ equity |
87,035 | 83,202 | 3,833 | 4.6 | 84,302 | |||||||||||||||
| Total managed and marketed funds |
1,342,238 | 1,371,542 | (29,303 | ) | (2.1 | ) | 1,269,917 | |||||||||||||
| Income statement * (EUR million) |
||||||||||||||||||||
| Net interest income |
14,362 | 14,544 | (182 | ) | (1.3 | ) | 28,419 | |||||||||||||
| Gross income |
20,611 | 21,570 | (958 | ) | (4.4 | ) | 41,931 | |||||||||||||
| Pre-provision profit (net operating income) |
10,858 | 11,414 | (556 | ) | (4.9 | ) | 21,773 | |||||||||||||
| Profit before taxes |
4,584 | 3,953 | 631 | 16.0 | 7,637 | |||||||||||||||
| Attributable profit to the Group |
2,756 | 2,255 | 501 | 22.2 | 4,370 | |||||||||||||||
|
(*).- Variations w/o exchange rate
|
||||||||||||||||||||
| Net interest income: +8.2%; Gross income: +4.0%; Pre-provision profit: +4.9%; Attributable profit: +40.1%
|
| |||||||||||||||||||
| EPS, profitability and efficiency (%) |
||||||||||||||||||||
| EPS (euro) |
0.236 | 0.214 | 0.022 | 10.2 | 0.403 | |||||||||||||||
| ROE |
6.58 | 5.60 | 5.42 | |||||||||||||||||
| ROTE |
9.52 | 8.21 | 7.87 | |||||||||||||||||
| ROA |
0.57 | 0.46 | 0.45 | |||||||||||||||||
| RoRWA** |
1.23 | |||||||||||||||||||
| Efficiency ratio (with amortisations) |
47.32 | 47.08 | 48.07 | |||||||||||||||||
| Solvency and NPL ratios (%) |
||||||||||||||||||||
| CET1** |
10.92 | |||||||||||||||||||
| NPL ratio |
5.45 | 5.15 | 5.61 | |||||||||||||||||
| Coverage ratio |
66.7 | 69.7 | 64.9 | |||||||||||||||||
| Market capitalisation and shares |
||||||||||||||||||||
| Shares (millions at period-end) |
11,778 | 10,810 | 968 | 9.0 | 11,333 | |||||||||||||||
| Share price (euros) |
7.630 | 4.902 | 2.728 | 55.7 | 6.506 | |||||||||||||||
| Market capitalisation (EUR million) |
89,867 | 52,989 | 36,878 | 69.6 | 73,735 | |||||||||||||||
| Book value (euro) |
7.40 | 7.71 | 7.44 | |||||||||||||||||
| Price / Book value (X) |
1.03 | 0.64 | 0.87 | |||||||||||||||||
| P/E ratio (X) |
16.20 | 11.46 | 16.13 | |||||||||||||||||
| Other data |
||||||||||||||||||||
| Number of shareholders |
3,279,897 | 3,292,650 | (12,753 | ) | (0.4 | ) | 3,299,026 | |||||||||||||
| Number of employees |
183,648 | 189,920 | (6,272 | ) | (3.3 | ) | 186,540 | |||||||||||||
| Number of branches |
13,225 | 14,680 | (1,455 | ) | (9.9 | ) | 13,927 | |||||||||||||
| (**).- | Considering Spanish regulation homogeneous with European one regarding intangible assets |
Note: The financial information in this report was approved by the Board of Directors at its meeting on July, 24 2014, following a favourable report from the Audit Committee on July, 22 2014.
Income statement
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Net interest income |
14,362 | 14,544 | (182 | ) | (1.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
4,733 | 4,977 | (244 | ) | (4.9 | ) | ||||||||||
| Gains (losses) on financial transactions |
1,278 | 1,848 | (570 | ) | (30.9 | ) | ||||||||||
| Other operating income |
238 | 200 | 38 | 19.0 | ||||||||||||
| Dividends |
251 | 204 | 47 | 22.9 | ||||||||||||
| Income from equity-accounted method |
108 | 124 | (16 | ) | (12.9 | ) | ||||||||||
| Other operating income/expenses |
(121 | ) | (128 | ) | 7 | (5.6 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
20,611 | 21,570 | (958 | ) | (4.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(9,753 | ) | (10,155 | ) | 403 | (4.0 | ) | |||||||||
| General administrative expenses |
(8,616 | ) | (8,982 | ) | 366 | (4.1 | ) | |||||||||
| Personnel |
(4,970 | ) | (5,238 | ) | 268 | (5.1 | ) | |||||||||
| Other general administrative expenses |
(3,646 | ) | (3,744 | ) | 98 | (2.6 | ) | |||||||||
| Depreciation and amortisation |
(1,137 | ) | (1,173 | ) | 37 | (3.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
10,858 | 11,414 | (556 | ) | (4.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(5,333 | ) | (6,541 | ) | 1,208 | (18.5 | ) | |||||||||
| Impairment losses on other assets |
(157 | ) | (237 | ) | 79 | (33.5 | ) | |||||||||
| Other income |
(784 | ) | (684 | ) | (100 | ) | 14.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit before taxes |
4,584 | 3,953 | 631 | 16.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,233 | ) | (1,030 | ) | (203 | ) | 19.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit from continuing operations |
3,351 | 2,922 | 428 | 14.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (14 | ) | 14 | (98.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary consolidated profit |
3,350 | 2,908 | 442 | 15.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
594 | 653 | (59 | ) | (9.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary attributable profit to the Group |
2,756 | 2,255 | 501 | 22.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net capital gains and provisions |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
2,756 | 2,255 | 501 | 22.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| EPS (euros) |
0.236 | 0.214 | 0.022 | 10.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Diluted EPS (euros) |
0.235 | 0.213 | 0.022 | 10.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Pro memoria: |
||||||||||||||||
| Average total assets |
1,167,350 | 1,266,263 | (98,913 | ) | (7.8 | ) | ||||||||||
| Average shareholders’ equity |
83,772 | 80,516 | 3,256 | 4.0 | ||||||||||||
Quarterly income statement
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Net interest income |
7,206 | 7,339 | 6,944 | 6,930 | 6,992 | 7,370 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
2,484 | 2,494 | 2,300 | 2,345 | 2,331 | 2,403 | ||||||||||||||||||
| Gains (losses) on financial transactions |
967 | 880 | 995 | 653 | 767 | 511 | ||||||||||||||||||
| Other operating income |
66 | 134 | 94 | 100 | 34 | 204 | ||||||||||||||||||
| Dividends |
59 | 145 | 72 | 102 | 31 | 220 | ||||||||||||||||||
| Income from equity-accounted method |
66 | 58 | 80 | 79 | 65 | 42 | ||||||||||||||||||
| Other operating income/expenses |
(59 | ) | (69 | ) | (58 | ) | (81 | ) | (63 | ) | (58 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
10,722 | 10,847 | 10,333 | 10,029 | 10,124 | 10,488 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(5,068 | ) | (5,088 | ) | (4,943 | ) | (5,060 | ) | (4,847 | ) | (4,906 | ) | ||||||||||||
| General administrative expenses |
(4,497 | ) | (4,485 | ) | (4,381 | ) | (4,395 | ) | (4,256 | ) | (4,360 | ) | ||||||||||||
| Personnel |
(2,631 | ) | (2,606 | ) | (2,478 | ) | (2,559 | ) | (2,455 | ) | (2,515 | ) | ||||||||||||
| Other general administrative expenses |
(1,865 | ) | (1,879 | ) | (1,902 | ) | (1,836 | ) | (1,801 | ) | (1,844 | ) | ||||||||||||
| Depreciation and amortisation |
(571 | ) | (602 | ) | (562 | ) | (665 | ) | (590 | ) | (546 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
5,655 | 5,760 | 5,390 | 4,968 | 5,277 | 5,582 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(3,142 | ) | (3,399 | ) | (3,025 | ) | (2,774 | ) | (2,695 | ) | (2,638 | ) | ||||||||||||
| Impairment losses on other assets |
(110 | ) | (126 | ) | (141 | ) | (146 | ) | (87 | ) | (71 | ) | ||||||||||||
| Other income |
(262 | ) | (422 | ) | (368 | ) | (220 | ) | (347 | ) | (438 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit before taxes |
2,141 | 1,812 | 1,856 | 1,828 | 2,149 | 2,435 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(577 | ) | (453 | ) | (518 | ) | (526 | ) | (569 | ) | (664 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit from continuing operations |
1,564 | 1,359 | 1,338 | 1,302 | 1,579 | 1,771 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | (1 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary consolidated profit |
1,564 | 1,345 | 1,337 | 1,301 | 1,579 | 1,771 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
359 | 294 | 282 | 242 | 277 | 318 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary attributable profit to the Group |
1,205 | 1,050 | 1,055 | 1,060 | 1,303 | 1,453 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,205 | 1,050 | 1,055 | 1,060 | 1,303 | 1,453 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| EPS (euros) |
0.116 | 0.098 | 0.096 | 0.094 | 0.113 | 0.122 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Diluted EPS (euros) |
0.115 | 0.098 | 0.095 | 0.094 | 0.113 | 0.122 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income statement
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Net interest income |
14,362 | 13,275 | 1,087 | 8.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
4,733 | 4,588 | 146 | 3.2 | ||||||||||||
| Gains (losses) on financial transactions |
1,278 | 1,768 | (490 | ) | (27.7 | ) | ||||||||||
| Other operating income |
238 | 197 | 41 | 20.8 | ||||||||||||
| Dividends |
251 | 199 | 52 | 25.9 | ||||||||||||
| Income from equity-accounted method |
108 | 105 | 3 | 2.4 | ||||||||||||
| Other operating income/expenses |
(121 | ) | (108 | ) | (13 | ) | 12.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
20,611 | 19,828 | 784 | 4.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(9,753 | ) | (9,478 | ) | (275 | ) | 2.9 | |||||||||
| General administrative expenses |
(8,616 | ) | (8,375 | ) | (241 | ) | 2.9 | |||||||||
| Personnel |
(4,970 | ) | (4,899 | ) | (71 | ) | 1.5 | |||||||||
| Other general administrative expenses |
(3,646 | ) | (3,476 | ) | (170 | ) | 4.9 | |||||||||
| Depreciation and amortisation |
(1,137 | ) | (1,103 | ) | (34 | ) | 3.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
10,858 | 10,350 | 509 | 4.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(5,333 | ) | (5,985 | ) | 652 | (10.9 | ) | |||||||||
| Impairment losses on other assets |
(157 | ) | (233 | ) | 76 | (32.5 | ) | |||||||||
| Other income |
(784 | ) | (654 | ) | (131 | ) | 20.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit before taxes |
4,584 | 3,478 | 1,106 | 31.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,233 | ) | (914 | ) | (319 | ) | 34.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit from continuing operations |
3,351 | 2,564 | 787 | 30.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (15 | ) | 14 | (98.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary consolidated profit |
3,350 | 2,549 | 801 | 31.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
594 | 582 | 12 | 2.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary attributable profit to the Group |
2,756 | 1,967 | 789 | 40.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net capital gains and provisions |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
2,756 | 1,967 | 789 | 40.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Quarterly income statement
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Net interest income |
6,547 | 6,728 | 6,742 | 6,826 | 7,063 | 7,299 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
2,284 | 2,303 | 2,233 | 2,299 | 2,350 | 2,384 | ||||||||||||||||||
| Gains (losses) on financial transactions |
914 | 854 | 965 | 646 | 767 | 511 | ||||||||||||||||||
| Other operating income |
65 | 132 | 92 | 101 | 34 | 204 | ||||||||||||||||||
| Dividends |
58 | 141 | 71 | 102 | 32 | 220 | ||||||||||||||||||
| Income from equity-accounted method |
56 | 49 | 75 | 75 | 67 | 41 | ||||||||||||||||||
| Other operating income/expenses |
(50 | ) | (58 | ) | (54 | ) | (76 | ) | (64 | ) | (57 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
9,810 | 10,018 | 10,032 | 9,872 | 10,214 | 10,397 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(4,722 | ) | (4,756 | ) | (4,814 | ) | (4,977 | ) | (4,883 | ) | (4,870 | ) | ||||||||||||
| General administrative expenses |
(4,187 | ) | (4,188 | ) | (4,263 | ) | (4,319 | ) | (4,288 | ) | (4,328 | ) | ||||||||||||
| Personnel |
(2,458 | ) | (2,441 | ) | (2,416 | ) | (2,522 | ) | (2,473 | ) | (2,498 | ) | ||||||||||||
| Other general administrative expenses |
(1,729 | ) | (1,747 | ) | (1,847 | ) | (1,797 | ) | (1,815 | ) | (1,830 | ) | ||||||||||||
| Depreciation and amortisation |
(535 | ) | (568 | ) | (551 | ) | (658 | ) | (595 | ) | (542 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
5,088 | 5,261 | 5,218 | 4,895 | 5,331 | 5,527 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(2,850 | ) | (3,135 | ) | (2,952 | ) | (2,747 | ) | (2,722 | ) | (2,611 | ) | ||||||||||||
| Impairment losses on other assets |
(109 | ) | (125 | ) | (142 | ) | (141 | ) | (87 | ) | (70 | ) | ||||||||||||
| Other income |
(250 | ) | (403 | ) | (355 | ) | (213 | ) | (351 | ) | (434 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit before taxes |
1,880 | 1,598 | 1,769 | 1,794 | 2,171 | 2,413 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(514 | ) | (400 | ) | (491 | ) | (514 | ) | (575 | ) | (658 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit from continuing operations |
1,366 | 1,198 | 1,278 | 1,280 | 1,596 | 1,755 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (15 | ) | (0 | ) | (0 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary consolidated profit |
1,366 | 1,183 | 1,278 | 1,280 | 1,596 | 1,755 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
318 | 264 | 270 | 238 | 280 | 315 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary attributable profit to the Group |
1,048 | 919 | 1,007 | 1,042 | 1,316 | 1,440 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,048 | 919 | 1,007 | 1,042 | 1,316 | 1,440 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Exchange rates: 1 euro / currency parity
| Average (income statement) | Period-end (balance sheet) | |||||||||||||||||||
| 1H ’14 | 1H ’13 | 30.06.14 | 31.12.13 | 30.06.13 | ||||||||||||||||
| US$ |
1.370 | 1.313 | 1.366 | 1.379 | 1.308 | |||||||||||||||
| Pound sterling |
0.821 | 0.851 | 0.802 | 0.834 | 0.857 | |||||||||||||||
| Brazilian real |
3.146 | 2.664 | 3.000 | 3.258 | 2.890 | |||||||||||||||
| Mexican peso |
17.972 | 16.471 | 17.712 | 18.073 | 17.041 | |||||||||||||||
| Chilean peso |
757.663 | 628.016 | 754.058 | 724.579 | 661.521 | |||||||||||||||
| Argentine peso |
10.688 | 6.725 | 11.106 | 8.990 | 7.032 | |||||||||||||||
| Polish zloty |
4.175 | 4.176 | 4.157 | 4.154 | 4.338 | |||||||||||||||
Net fees
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Fees from services |
2,818 | 3,017 | (199 | ) | (6.6 | ) | ||||||||||
| Mutual & pension funds |
429 | 425 | 4 | 0.9 | ||||||||||||
| Securities and custody |
400 | 339 | 61 | 18.1 | ||||||||||||
| Insurance |
1,086 | 1,196 | (110 | ) | (9.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fee income |
4,733 | 4,977 | (244 | ) | (4.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Operating expenses
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Personnel expenses |
4,970 | 5,238 | (268 | ) | (5.1 | ) | ||||||||||
| General expenses |
3,646 | 3,744 | (98 | ) | (2.6 | ) | ||||||||||
| Information technology |
444 | 472 | (28 | ) | (6.0 | ) | ||||||||||
| Communications |
260 | 310 | (50 | ) | (16.2 | ) | ||||||||||
| Advertising |
301 | 291 | 10 | 3.6 | ||||||||||||
| Buildings and premises |
890 | 928 | (38 | ) | (4.1 | ) | ||||||||||
| Printed and office material |
72 | 84 | (12 | ) | (14.3 | ) | ||||||||||
| Taxes (other than profit tax) |
224 | 224 | (0 | ) | (0.1 | ) | ||||||||||
| Other expenses |
1,455 | 1,435 | 20 | 1.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Personnel and general expenses |
8,616 | 8,982 | (366 | ) | (4.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Depreciation and amortisation |
1,137 | 1,173 | (37 | ) | (3.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total operating expenses |
9,753 | 10,155 | (403 | ) | (4.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Net loan-loss provisions
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Non-performing loans |
5,993 | 7,555 | (1,562 | ) | (20.7 | ) | ||||||||||
| Country-risk |
(4 | ) | 6 | (10 | ) | — | ||||||||||
| Recovery of written-off assets |
(656 | ) | (1,020 | ) | 364 | (35.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total |
5,333 | 6,541 | (1,208 | ) | (18.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Balance sheet
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Assets |
||||||||||||||||||||
| Cash on hand and deposits at central banks |
83,877 | 81,673 | 2,204 | 2.7 | 77,103 | |||||||||||||||
| Trading portfolio |
130,773 | 169,729 | (38,956 | ) | (23.0 | ) | 115,309 | |||||||||||||
| Debt securities |
54,115 | 51,275 | 2,840 | 5.5 | 40,841 | |||||||||||||||
| Customer loans |
1,637 | 13,776 | (12,139 | ) | (88.1 | ) | 5,079 | |||||||||||||
| Equities |
9,399 | 5,090 | 4,309 | 84.6 | 4,967 | |||||||||||||||
| Trading derivatives |
64,335 | 91,437 | (27,102 | ) | (29.6 | ) | 58,920 | |||||||||||||
| Deposits from credit institutions |
1,287 | 8,151 | (6,864 | ) | (84.2 | ) | 5,503 | |||||||||||||
| Other financial assets at fair value |
30,421 | 40,118 | (9,697 | ) | (24.2 | ) | 31,441 | |||||||||||||
| Customer loans |
11,031 | 14,389 | (3,358 | ) | (23.3 | ) | 13,255 | |||||||||||||
| Other (deposits at credit institutions, debt securities and equities |
19,390 | 25,728 | (6,338 | ) | (24.6 | ) | 18,185 | |||||||||||||
| Available-for-sale financial assets |
90,637 | 105,661 | (15,024 | ) | (14.2 | ) | 83,799 | |||||||||||||
| Debt securities |
85,773 | 100,855 | (15,082 | ) | (15.0 | ) | 79,844 | |||||||||||||
| Equities |
4,864 | 4,805 | 59 | 1.2 | 3,955 | |||||||||||||||
| Loans |
755,264 | 746,773 | 8,491 | 1.1 | 731,420 | |||||||||||||||
| Deposits at credit institutions |
53,232 | 52,132 | 1,100 | 2.1 | 57,178 | |||||||||||||||
| Customer loans |
694,231 | 686,858 | 7,373 | 1.1 | 666,356 | |||||||||||||||
| Debt securities |
7,801 | 7,784 | 17 | 0.2 | 7,886 | |||||||||||||||
| Investments |
3,603 | 2,917 | 686 | 23.5 | 3,377 | |||||||||||||||
| Intangible assets and property and equipment |
19,739 | 17,445 | 2,294 | 13.1 | 18,137 | |||||||||||||||
| Goodwill |
26,663 | 24,913 | 1,750 | 7.0 | 24,263 | |||||||||||||||
| Other |
47,066 | 50,186 | (3,120 | ) | (6.2 | ) | 49,154 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total assets |
1,188,043 | 1,239,415 | (51,372 | ) | (4.1 | ) | 1,134,003 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Liabilities and shareholders’ equity |
||||||||||||||||||||
| Trading portfolio |
96,621 | 139,906 | (43,285 | ) | (30.9 | ) | 94,695 | |||||||||||||
| Customer deposits |
5,250 | 17,569 | (12,319 | ) | (70.1 | ) | 8,500 | |||||||||||||
| Marketable debt securities |
— | 1 | (1 | ) | (100.0 | ) | 1 | |||||||||||||
| Trading derivatives |
64,255 | 89,937 | (25,682 | ) | (28.6 | ) | 58,910 | |||||||||||||
| Other |
27,116 | 32,399 | (5,283 | ) | (16.3 | ) | 27,285 | |||||||||||||
| Other financial liabilities at fair value |
50,446 | 54,779 | (4,333 | ) | (7.9 | ) | 42,311 | |||||||||||||
| Customer deposits |
32,103 | 32,427 | (324 | ) | (1.0 | ) | 26,484 | |||||||||||||
| Marketable debt securities |
3,864 | 6,154 | (2,290 | ) | (37.2 | ) | 4,086 | |||||||||||||
| Due to central banks and credit institutions |
14,479 | 16,198 | (1,719 | ) | (10.6 | ) | 11,741 | |||||||||||||
| Financial liabilities at amortized cost |
914,107 | 925,497 | (11,390 | ) | (1.2 | ) | 880,115 | |||||||||||||
| Due to central banks and credit institutions |
104,111 | 103,360 | 751 | 0.7 | 92,390 | |||||||||||||||
| Customer deposits |
580,408 | 594,938 | (14,530 | ) | (2.4 | ) | 572,853 | |||||||||||||
| Marketable debt securities |
187,631 | 192,441 | (4,810 | ) | (2.5 | ) | 182,234 | |||||||||||||
| Subordinated debt |
19,043 | 16,118 | 2,925 | 18.1 | 16,139 | |||||||||||||||
| Other financial liabilities |
22,914 | 18,640 | 4,274 | 22.9 | 16,499 | |||||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 511 | 46.9 | 1,430 | |||||||||||||||
| Provisions |
15,205 | 15,148 | 57 | 0.4 | 14,485 | |||||||||||||||
| Other liability accounts |
24,346 | 21,005 | 3,341 | 15.9 | 20,409 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total liabilities |
1,102,327 | 1,157,425 | (55,098 | ) | (4.8 | ) | 1,053,444 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Shareholders’ equity |
87,035 | 83,202 | 3,833 | 4.6 | 84,740 | |||||||||||||||
| Capital stock |
5,889 | 5,405 | 484 | 9.0 | 5,667 | |||||||||||||||
| Reserves |
78,390 | 75,542 | 2,848 | 3.8 | 75,109 | |||||||||||||||
| Attributable profit to the Group |
2,756 | 2,255 | 501 | 22.2 | 4,370 | |||||||||||||||
| Less: dividends |
— | — | — | — | (406 | ) | ||||||||||||||
| Equity adjustments by valuation |
(11,857 | ) | (11,903 | ) | 46 | (0.4 | ) | (14,152 | ) | |||||||||||
| Minority interests |
10,538 | 10,691 | (153 | ) | (1.4 | ) | 9,972 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total equity |
85,716 | 81,990 | 3,726 | 4.5 | 80,559 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total liabilities and equity |
1,188,043 | 1,239,415 | (51,372 | ) | (4.1 | ) | 1,134,003 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance sheet
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Assets |
||||||||||||||||||||||||
| Cash on hand and deposits at central banks |
79,202 | 81,673 | 88,099 | 77,103 | 82,402 | 83,877 | ||||||||||||||||||
| Trading portfolio |
184,803 | 169,729 | 153,312 | 115,309 | 128,631 | 130,773 | ||||||||||||||||||
| Debt securities |
49,703 | 51,275 | 43,179 | 40,841 | 48,765 | 54,115 | ||||||||||||||||||
| Customer loans |
13,089 | 13,776 | 9,998 | 5,079 | 5,902 | 1,637 | ||||||||||||||||||
| Equities |
5,294 | 5,090 | 6,080 | 4,967 | 8,200 | 9,399 | ||||||||||||||||||
| Trading derivatives |
105,391 | 91,437 | 79,689 | 58,920 | 60,252 | 64,335 | ||||||||||||||||||
| Deposits from credit institutions |
11,326 | 8,151 | 14,367 | 5,503 | 5,511 | 1,287 | ||||||||||||||||||
| Other financial assets at fair value |
44,972 | 40,118 | 38,660 | 31,441 | 38,992 | 30,421 | ||||||||||||||||||
| Customer loans |
13,821 | 14,389 | 11,878 | 13,255 | 11,054 | 11,031 | ||||||||||||||||||
| Other (deposits at credit institutions, debt securities and equities |
31,151 | 25,728 | 26,782 | 18,185 | 27,939 | 19,390 | ||||||||||||||||||
| Available-for-sale financial assets |
107,184 | 105,661 | 93,346 | 83,799 | 90,889 | 90,637 | ||||||||||||||||||
| Debt securities |
102,570 | 100,855 | 88,929 | 79,844 | 86,849 | 85,773 | ||||||||||||||||||
| Equities |
4,614 | 4,805 | 4,417 | 3,955 | 4,039 | 4,864 | ||||||||||||||||||
| Loans |
780,819 | 746,773 | 743,030 | 731,420 | 731,597 | 755,264 | ||||||||||||||||||
| Deposits at credit institutions |
63,258 | 52,132 | 54,167 | 57,178 | 46,357 | 53,232 | ||||||||||||||||||
| Customer loans |
710,044 | 686,858 | 680,952 | 666,356 | 677,639 | 694,231 | ||||||||||||||||||
| Debt securities |
7,517 | 7,784 | 7,911 | 7,886 | 7,600 | 7,801 | ||||||||||||||||||
| Investments |
2,524 | 2,917 | 2,879 | 3,377 | 3,502 | 3,603 | ||||||||||||||||||
| Intangible assets and property and equipment |
17,280 | 17,445 | 17,784 | 18,137 | 19,035 | 19,739 | ||||||||||||||||||
| Goodwill |
26,127 | 24,913 | 24,732 | 24,263 | 26,056 | 26,663 | ||||||||||||||||||
| Other |
52,883 | 50,186 | 48,356 | 49,154 | 47,613 | 47,066 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets |
1,295,794 | 1,239,415 | 1,210,198 | 1,134,003 | 1,168,718 | 1,188,043 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Liabilities and shareholders’ equity |
||||||||||||||||||||||||
| Trading portfolio |
154,092 | 139,906 | 128,994 | 94,695 | 105,947 | 96,621 | ||||||||||||||||||
| Customer deposits |
13,200 | 17,569 | 15,085 | 8,500 | 13,197 | 5,250 | ||||||||||||||||||
| Marketable debt securities |
1 | 1 | 1 | 1 | 1 | — | ||||||||||||||||||
| Trading derivatives |
105,627 | 89,937 | 79,827 | 58,910 | 59,664 | 64,255 | ||||||||||||||||||
| Other |
35,264 | 32,399 | 34,081 | 27,285 | 33,084 | 27,116 | ||||||||||||||||||
| Other financial liabilities at fair value |
59,422 | 54,779 | 48,996 | 42,311 | 51,500 | 50,446 | ||||||||||||||||||
| Customer deposits |
31,473 | 32,427 | 28,633 | 26,484 | 33,683 | 32,103 | ||||||||||||||||||
| Marketable debt securities |
5,650 | 6,154 | 6,475 | 4,086 | 5,088 | 3,864 | ||||||||||||||||||
| Deposits at credit institutions |
22,298 | 16,198 | 13,889 | 11,741 | 12,730 | 14,479 | ||||||||||||||||||
| Financial liabilities at amortized cost |
956,059 | 925,497 | 913,433 | 880,115 | 889,288 | 914,107 | ||||||||||||||||||
| Due to central banks and credit institutions |
106,002 | 103,360 | 104,755 | 92,390 | 98,113 | 104,111 | ||||||||||||||||||
| Customer deposits |
608,555 | 594,938 | 589,716 | 572,853 | 573,255 | 580,408 | ||||||||||||||||||
| Marketable debt securities |
205,384 | 192,441 | 186,070 | 182,234 | 179,446 | 187,631 | ||||||||||||||||||
| Subordinated debt |
17,828 | 16,118 | 15,300 | 16,139 | 17,738 | 19,043 | ||||||||||||||||||
| Other financial liabilities |
18,290 | 18,640 | 17,592 | 16,499 | 20,735 | 22,914 | ||||||||||||||||||
| Insurance liabilities |
1,263 | 1,091 | 1,324 | 1,430 | 1,548 | 1,602 | ||||||||||||||||||
| Provisions |
16,039 | 15,148 | 14,671 | 14,485 | 14,900 | 15,205 | ||||||||||||||||||
| Other liability accounts |
23,727 | 21,005 | 20,496 | 20,409 | 23,014 | 24,346 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total liabilities |
1,210,601 | 1,157,425 | 1,127,914 | 1,053,444 | 1,086,197 | 1,102,327 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Shareholders’ equity |
82,158 | 83,202 | 83,954 | 84,740 | 85,631 | 87,035 | ||||||||||||||||||
| Capital stock |
5,269 | 5,405 | 5,546 | 5,667 | 5,781 | 5,889 | ||||||||||||||||||
| Reserves |
75,683 | 75,542 | 75,320 | 75,109 | 78,548 | 78,390 | ||||||||||||||||||
| Attributable profit to the Group |
1,205 | 2,255 | 3,311 | 4,370 | 1,303 | 2,756 | ||||||||||||||||||
| Less: dividends |
— | — | (223 | ) | (406 | ) | — | — | ||||||||||||||||
| Equity adjustments by valuation |
(9,013 | ) | (11,903 | ) | (12,133 | ) | (14,152 | ) | (13,253 | ) | (11,857 | ) | ||||||||||||
| Minority interests |
12,048 | 10,691 | 10,463 | 9,972 | 10,142 | 10,538 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total equity |
85,193 | 81,990 | 82,284 | 80,559 | 82,520 | 85,716 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total liabilities and equity |
1,295,794 | 1,239,415 | 1,210,198 | 1,134,003 | 1,168,718 | 1,188,043 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Customer loans
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Spanish Public sector |
16,227 | 17,634 | (1,407 | ) | (8.0 | ) | 13,374 | |||||||||||||
| Other residents |
162,352 | 171,494 | (9,142 | ) | (5.3 | ) | 160,478 | |||||||||||||
| Commercial bills |
6,689 | 7,654 | (965 | ) | (12.6 | ) | 7,301 | |||||||||||||
| Secured loans |
98,962 | 97,997 | 965 | 1.0 | 96,420 | |||||||||||||||
| Other loans |
56,701 | 65,843 | (9,142 | ) | (13.9 | ) | 56,757 | |||||||||||||
| Non-resident sector |
555,784 | 553,546 | 2,238 | 0.4 | 537,587 | |||||||||||||||
| Secured loans |
339,213 | 329,471 | 9,742 | 3.0 | 320,629 | |||||||||||||||
| Other loans |
216,571 | 224,075 | (7,504 | ) | (3.3 | ) | 216,958 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Gross customer loans |
734,363 | 742,675 | (8,312 | ) | (1.1 | ) | 711,439 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Loan-loss allowances |
27,464 | 27,652 | (188 | ) | (0.7 | ) | 26,749 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Net customer loans |
706,899 | 715,023 | (8,124 | ) | (1.1 | ) | 684,690 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Pro memoria: Doubtful loans |
40,948 | 39,681 | 1,267 | 3.2 | 41,088 | |||||||||||||||
| Public sector |
126 | 117 | 10 | 8.4 | 99 | |||||||||||||||
| Other residents |
21,003 | 19,201 | 1,802 | 9.4 | 21,763 | |||||||||||||||
| Non-resident sector |
19,819 | 20,363 | (544 | ) | (2.7 | ) | 19,226 | |||||||||||||
Customer loans
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Spanish Public sector |
17,561 | 17,634 | 17,331 | 13,374 | 15,409 | 16,227 | ||||||||||||||||||
| Other residents |
178,460 | 171,494 | 165,571 | 160,478 | 162,693 | 162,352 | ||||||||||||||||||
| Commercial bills |
8,007 | 7,654 | 6,612 | 7,301 | 6,797 | 6,689 | ||||||||||||||||||
| Secured loans |
101,863 | 97,997 | 97,619 | 96,420 | 97,648 | 98,962 | ||||||||||||||||||
| Other loans |
68,590 | 65,843 | 61,340 | 56,757 | 58,248 | 56,701 | ||||||||||||||||||
| Non-resident sector |
568,772 | 553,546 | 547,267 | 537,587 | 543,753 | 555,784 | ||||||||||||||||||
| Secured loans |
340,486 | 329,471 | 324,631 | 320,629 | 323,789 | 339,213 | ||||||||||||||||||
| Other loans |
228,287 | 224,075 | 222,636 | 216,958 | 219,964 | 216,571 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross customer loans |
764,793 | 742,675 | 730,169 | 711,439 | 721,856 | 734,363 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan-loss allowances |
27,839 | 27,652 | 27,341 | 26,749 | 27,261 | 27,464 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net customer loans |
736,954 | 715,023 | 702,828 | 684,690 | 694,595 | 706,899 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Pro memoria: Doubtful loans |
37,780 | 39,681 | 40,876 | 41,088 | 41,101 | 40,948 | ||||||||||||||||||
| Public sector |
103 | 117 | 172 | 99 | 88 | 126 | ||||||||||||||||||
| Other residents |
16,613 | 19,201 | 20,566 | 21,763 | 21,741 | 21,003 | ||||||||||||||||||
| Non-resident sector |
21,064 | 20,363 | 20,137 | 19,226 | 19,272 | 19,819 | ||||||||||||||||||
Credit risk management *
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Non-performing loans |
42,334 | 40,712 | 1,622 | 4.0 | 42,420 | |||||||||||||||
| NPL ratio (%) |
5.45 | 5.15 | 0.30 p. | 5.61 | ||||||||||||||||
| Loan-loss allowances |
28,256 | 28,373 | (117 | ) | (0.4 | ) | 27,526 | |||||||||||||
| Specific |
22,660 | 22,988 | (328 | ) | (1.4 | ) | 22,433 | |||||||||||||
| Generic |
5,596 | 5,385 | 211 | 3.9 | 5,093 | |||||||||||||||
| Coverage ratio (%) |
66.7 | 69.7 | (3.0 p. | ) | 64.9 | |||||||||||||||
| Cost of credit (%) ** |
1.56 | 2.14 | (0.58 p. | ) | 1.69 | |||||||||||||||
| (*).- | Excluding country-risk |
| (**).- | 12 months net loan-loss provisions / average lending |
Note: NPL ratio: Non-performing loans / computable assets
Credit risk management *
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Non-performing loans |
38,693 | 40,712 | 41,899 | 42,420 | 42,300 | 42,334 | ||||||||||||||||||
| NPL ratio (%) |
4.75 | 5.15 | 5.40 | 5.61 | 5.52 | 5.45 | ||||||||||||||||||
| Loan-loss allowances |
28,652 | 28,373 | 28,096 | 27,526 | 28,037 | 28,256 | ||||||||||||||||||
| Specific |
22,950 | 22,988 | 22,809 | 22,433 | 22,562 | 22,660 | ||||||||||||||||||
| Generic |
5,702 | 5,385 | 5,287 | 5,093 | 5,475 | 5,596 | ||||||||||||||||||
| Coverage ratio (%) |
74.1 | 69.7 | 67.1 | 64.9 | 66.3 | 66.7 | ||||||||||||||||||
| Cost of credit (%) ** |
2.45 | 2.14 | 1.89 | 1.69 | 1.65 | 1.56 | ||||||||||||||||||
| (*).- | Excluding country-risk |
| (**).- | 12 months net loan-loss provisions / average lending |
Note: NPL ratio: Non-performing loans / computable assets
Non-performing loans by quarter
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Balance at beginning of period |
36,761 | 38,693 | 40,712 | 41,899 | 42,420 | 42,300 | ||||||||||||||||||
| Net additions |
4,167 | 6,294 | 4,722 | 4,517 | 2,536 | 2,535 | ||||||||||||||||||
| Increase in scope of consolidation |
743 | — | — | — | 148 | — | ||||||||||||||||||
| Exchange differences |
300 | (1,283 | ) | (447 | ) | (781 | ) | 96 | 293 | |||||||||||||||
| Write-offs |
(3,278 | ) | (2,991 | ) | (3,088 | ) | (3,215 | ) | (2,900 | ) | (2,793 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Balance at period-end |
38,693 | 40,712 | 41,899 | 42,420 | 42,300 | 42,334 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Managed and marketed customer funds
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Resident public sector |
7,357 | 10,734 | (3,377 | ) | (31.5 | ) | 7,745 | |||||||||||||
| Other residents |
163,548 | 167,266 | (3,718 | ) | (2.2 | ) | 161,649 | |||||||||||||
| Demand deposits |
79,661 | 76,274 | 3,387 | 4.4 | 74,969 | |||||||||||||||
| Time deposits |
77,913 | 83,227 | (5,314 | ) | (6.4 | ) | 80,146 | |||||||||||||
| Other |
5,974 | 7,764 | (1,790 | ) | (23.1 | ) | 6,535 | |||||||||||||
| Non-resident sector |
446,855 | 466,934 | (20,078 | ) | (4.3 | ) | 438,442 | |||||||||||||
| Demand deposits |
244,068 | 232,969 | 11,098 | 4.8 | 230,715 | |||||||||||||||
| Time deposits |
155,736 | 168,611 | (12,875 | ) | (7.6 | ) | 161,300 | |||||||||||||
| Other |
47,052 | 65,354 | (18,302 | ) | (28.0 | ) | 46,427 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Customer deposits |
617,761 | 644,934 | (27,173 | ) | (4.2 | ) | 607,836 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Debt securities* |
191,495 | 198,595 | (7,100 | ) | (3.6 | ) | 186,321 | |||||||||||||
| Subordinated debt |
19,043 | 16,118 | 2,925 | 18.1 | 16,139 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| On-balance-sheet customer funds |
828,299 | 859,647 | (31,349 | ) | (3.6 | ) | 810,296 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Mutual funds |
119,739 | 101,598 | 18,141 | 17.9 | 103,967 | |||||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | 10,879 | |||||||||||||||
| Managed portfolios |
23,198 | 20,393 | 2,804 | 13.8 | 21,068 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Other managed and marketed customer funds |
154,195 | 132,127 | 22,069 | 16.7 | 135,914 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Managed and marketed customer funds |
982,494 | 991,774 | (9,280 | ) | (0.9 | ) | 946,210 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| (*).- | Including retail commercial paper (EUR million): 1,318 in June 2014, 7,471 in June 2013 and 3,553 in December 2013 |
Managed and marketed mutual funds
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Spain |
38,973 | 28,497 | 10,476 | 36.8 | 33,104 | |||||||||||||||
| Portugal |
1,311 | 1,281 | 30 | 2.4 | 1,050 | |||||||||||||||
| Poland |
3,556 | 3,294 | 262 | 8.0 | 3,525 | |||||||||||||||
| United Kingdom |
9,740 | 10,687 | (947 | ) | (8.9 | ) | 9,645 | |||||||||||||
| Latin America |
65,315 | 56,411 | 8,903 | 15.8 | 55,835 | |||||||||||||||
| USA |
844 | 1,429 | (584 | ) | (40.9 | ) | 807 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total |
119,739 | 101,598 | 18,141 | 17.9 | 103,967 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Managed and marketed pension funds
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Spain |
10,394 | 9,366 | 1,028 | 11.0 | 10,030 | |||||||||||||||
| Portugal |
864 | 768 | 95 | 12.4 | 848 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total |
11,258 | 10,135 | 1,123 | 11.1 | 10,879 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Managed and marketed customer funds
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Resident public sector |
13,198 | 10,734 | 12,893 | 7,745 | 7,856 | 7,357 | ||||||||||||||||||
| Other residents |
164,090 | 167,266 | 164,101 | 161,649 | 158,292 | 163,548 | ||||||||||||||||||
| Demand deposits |
73,015 | 76,274 | 74,878 | 74,969 | 76,468 | 79,661 | ||||||||||||||||||
| Time deposits |
82,772 | 83,227 | 83,798 | 80,146 | 76,823 | 77,913 | ||||||||||||||||||
| Other |
8,302 | 7,764 | 5,425 | 6,535 | 5,000 | 5,974 | ||||||||||||||||||
| Non-resident sector |
475,940 | 466,934 | 456,440 | 438,442 | 453,988 | 446,855 | ||||||||||||||||||
| Demand deposits |
235,522 | 232,969 | 232,721 | 230,715 | 232,123 | 244,068 | ||||||||||||||||||
| Time deposits |
179,587 | 168,611 | 165,506 | 161,300 | 163,845 | 155,736 | ||||||||||||||||||
| Other |
60,831 | 65,354 | 58,213 | 46,427 | 58,020 | 47,052 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits |
653,228 | 644,934 | 633,433 | 607,836 | 620,135 | 617,761 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Debt securities* |
211,035 | 198,595 | 192,545 | 186,321 | 184,534 | 191,495 | ||||||||||||||||||
| Subordinated debt |
17,828 | 16,118 | 15,300 | 16,139 | 17,738 | 19,043 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| On-balance-sheet customer funds |
882,091 | 859,647 | 841,278 | 810,296 | 822,408 | 828,299 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
107,393 | 101,598 | 105,148 | 103,967 | 111,392 | 119,739 | ||||||||||||||||||
| Pension funds |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
| Managed portfolios |
20,988 | 20,393 | 20,925 | 21,068 | 21,839 | 23,198 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
138,562 | 132,127 | 136,500 | 135,914 | 144,296 | 154,195 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
1,020,653 | 991,774 | 977,778 | 946,210 | 966,704 | 982,494 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including retail commercial paper (in EUR million): 10,153 in March 2013, 7,471 in June 2013, 4.820 in September 2013, 3,553 in December 2013, 2,015 in March 2014 and 1.318 in June 2014 |
Managed and marketed mutual funds
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Spain |
27,361 | 28,497 | 30,989 | 33,104 | 36,164 | 38,973 | ||||||||||||||||||
| Portugal |
1,437 | 1,281 | 1,141 | 1,050 | 1,185 | 1,311 | ||||||||||||||||||
| Poland |
3,342 | 3,294 | 3,431 | 3,525 | 3,455 | 3,556 | ||||||||||||||||||
| United Kingdom |
12,638 | 10,687 | 9,572 | 9,645 | 9,490 | 9,740 | ||||||||||||||||||
| Latin America |
61,256 | 56,411 | 59,129 | 55,835 | 60,256 | 65,315 | ||||||||||||||||||
| USA |
1,360 | 1,429 | 886 | 807 | 843 | 844 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total |
107,393 | 101,598 | 105,148 | 103,967 | 111,392 | 119,739 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Managed and marketed pension funds
EUR million
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Spain |
9,401 | 9,366 | 9,650 | 10,030 | 10,202 | 10,394 | ||||||||||||||||||
| Portugal |
780 | 768 | 776 | 848 | 862 | 864 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total equity and capital with the nature of financial liabilities
EUR million
| Variation | ||||||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | 31.12.13 | ||||||||||||||||
| Capital stock |
5,889 | 5,405 | 484 | 9.0 | 5,667 | |||||||||||||||
| Additional paid-in surplus |
36,537 | 37,119 | (582 | ) | (1.6 | ) | 36,804 | |||||||||||||
| Reserves |
41,990 | 38,502 | 3,488 | 9.1 | 38,314 | |||||||||||||||
| Treasury stock |
(137 | ) | (79 | ) | (58 | ) | 74.4 | (9 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Shareholders’ equity (before profit and dividends) |
84,279 | 80,947 | 3,332 | 4.1 | 80,776 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Attributable profit |
2,756 | 2,255 | 501 | 22.2 | 4,370 | |||||||||||||||
| Interim dividend distributed |
— | — | — | — | (406 | ) | ||||||||||||||
| Interim dividend not distributed |
— | — | — | — | (438 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Shareholders’ equity (after retained profit) |
87,035 | 83,202 | 3,833 | 4.6 | 84,302 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Valuation adjustments |
(11,857 | ) | (11,903 | ) | 46 | (0.4 | ) | (14,152 | ) | |||||||||||
| Minority interests |
10,538 | 10,691 | (153 | ) | (1.4 | ) | 9,972 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total equity (after retained profit) |
85,716 | 81,990 | 3,726 | 4.5 | 80,122 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Preferred shares and securities in subordinated debt |
6,822 | 4,642 | 2,180 | 47.0 | 4,053 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total equity and capital with the nature of financial liabilities |
92,538 | 86,632 | 5,906 | 6.8 | 84,175 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Computable capital (1)
EUR million
| 30.06.14 | ||||
| CET1 |
61,009 | |||
| Basic capital |
61,009 | |||
|
|
|
|||
| Computable capital |
67,462 | |||
|
|
|
|||
| Risk-weighted assets |
558,894 | |||
|
|
|
|||
| CET1 capital ratio |
10.92 | |||
|
|
|
|||
| T1 capital ratio |
10.92 | |||
|
|
|
|||
| BIS ratio |
12.07 | |||
|
|
|
|||
| Shareholders’ equity surplus |
22,750 | |||
| (1).- | Considering Spanish regulation homogeneous with European one regarding intangible assets |
Key data by principal segments
| Net operating income | Attributable profit to the Group | Efficiency ratio (%) | ROE (%) | |||||||||||||||||||||||||||||||||||||
| 1H ’14 | 1H ’13 | Var (%) | 1H ’14 | 1H ’13 | Var (%) | 1H ’14 | 1H ’13 | 1H ’14 | 1H ’13 | |||||||||||||||||||||||||||||||
| Income statement (EUR million) |
||||||||||||||||||||||||||||||||||||||||
| Continental Europe |
3,263 | 3,064 | 6.5 | 962 | 551 | 74.7 | 49.4 | 51.6 | 7.57 | 4.19 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| o/w: Spain |
1,807 | 1,683 | 7.4 | 513 | 287 | 78.8 | 49.4 | 53.0 | 9.22 | 4.81 | ||||||||||||||||||||||||||||||
| Portugal |
222 | 219 | 1.7 | 74 | 46 | 62.6 | 52.2 | 52.9 | 5.67 | 3.60 | ||||||||||||||||||||||||||||||
| Poland |
393 | 354 | 11.0 | 173 | 161 | 7.0 | 42.8 | 45.7 | 17.32 | 16.78 | ||||||||||||||||||||||||||||||
| Santander Consumer Finance |
904 | 859 | 5.3 | 456 | 377 | 21.0 | 44.4 | 44.6 | 11.71 | 9.74 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| United Kingdom |
1,290 | 1,051 | 22.7 | 775 | 487 | 59.1 | 52.0 | 55.8 | 11.14 | 7.42 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Latin America |
5,440 | 6,649 | (18.2 | ) | 1,512 | 1,804 | (16.2 | ) | 41.3 | 39.3 | 14.42 | 15.11 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| o/w: Brazil |
3,509 | 4,618 | (24.0 | ) | 758 | 919 | (17.5 | ) | 39.9 | 37.0 | 12.89 | 13.13 | ||||||||||||||||||||||||||||
| Mexico |
870 | 962 | (9.6 | ) | 307 | 441 | (30.4 | ) | 41.6 | 38.5 | 16.90 | 21.52 | ||||||||||||||||||||||||||||
| Chile |
672 | 633 | 6.2 | 255 | 201 | 27.1 | 37.9 | 43.0 | 22.07 | 15.98 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| USA |
1,716 | 1,462 | 17.4 | 356 | 476 | (25.1 | ) | 35.6 | 38.3 | 8.11 | 11.71 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Operating areas |
11,708 | 12,227 | (4.2 | ) | 3,605 | 3,317 | 8.7 | 44.4 | 44.5 | 7.57 | 4.19 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Corporate Activities |
(850 | ) | (812 | ) | 4.6 | (849 | ) | (1,062 | ) | (20.1 | ) | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
| Total Group |
10,858 | 11,414 | (4.9 | ) | 2,756 | 2,255 | 22.2 | 47.3 | 47.1 | 6.58 | 5.60 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Net customer loans | Customer deposits | NPL ratio (%) | NPL coverage (%) | |||||||||||||||||||||||||||||||||||||
| 30.06.14 | 30.06.13 | Var (%) | 30.06.14 | 30.06.13 | Var (%) | 30.06.14 | 30.06.13 | 30.06.14 | 30.06.13 | |||||||||||||||||||||||||||||||
| Activity (EUR million) |
||||||||||||||||||||||||||||||||||||||||
| Continental Europe |
267,071 | 278,512 | (4.1 | ) | 254,985 | 267,427 | (4.7 | ) | 9.04 | 7.83 | 58.3 | 63.3 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| o/w: Spain |
159,264 | 171,176 | (7.0 | ) | 181,065 | 194,330 | (6.8 | ) | 7.59 | 5.75 | 44.9 | 43.1 | ||||||||||||||||||||||||||||
| Portugal |
24,111 | 25,210 | (4.4 | ) | 23,253 | 23,577 | (1.4 | ) | 8.16 | 7.41 | 53.1 | 52.4 | ||||||||||||||||||||||||||||
| Poland |
17,064 | 15,983 | 6.8 | 18,325 | 16,591 | 10.4 | 7.42 | 8.08 | 65.3 | 59.3 | ||||||||||||||||||||||||||||||
| Santander Consumer Finance |
58,058 | 55,995 | 3.7 | 30,736 | 30,986 | (0.8 | ) | 4.07 | 4.04 | 105.2 | 106.9 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| United Kingdom |
239,237 | 238,223 | 0.4 | 193,431 | 195,995 | (1.3 | ) | 1.91 | 2.01 | 41.1 | 42.1 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Latin America |
136,325 | 135,931 | 0.3 | 127,903 | 132,214 | (3.3 | ) | 5.03 | 5.23 | 86.3 | 86.1 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| o/w: Brazil |
71,475 | 71,296 | 0.3 | 68,450 | 69,199 | (1.1 | ) | 5.78 | 6.49 | 94.8 | 91.3 | |||||||||||||||||||||||||||||
| Mexico |
24,516 | 22,440 | 9.3 | 24,803 | 26,497 | (6.4 | ) | 3.52 | 2.20 | 96.6 | 142.7 | |||||||||||||||||||||||||||||
| Chile |
28,701 | 30,085 | (4.6 | ) | 19,929 | 21,961 | (9.3 | ) | 5.94 | 5.81 | 51.7 | 49.9 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| USA |
60,006 | 58,708 | 2.2 | 39,878 | 41,639 | (4.2 | ) | 2.93 | 2.96 | 165.0 | 156.5 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Operating areas |
702,640 | 711,374 | (1.2 | ) | 616,197 | 637,275 | (3.3 | ) | 5.46 | 5.13 | 66.4 | 69.6 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Total Group |
706,899 | 715,023 | (1.1 | ) | 617,761 | 644,934 | (4.2 | ) | 5.45 | 5.15 | 66.7 | 69.7 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Employees | Branches | |||||||||||||||
| 30.06.14 | 30.06.13 | 30.06.14 | 30.06.13 | |||||||||||||
| Operating means |
||||||||||||||||
| Continental Europe |
56,297 | 60,415 | 5,638 | 6,774 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| o/w: Spain |
25,465 | 28,859 | 3,609 | 4,612 | ||||||||||||
| Portugal |
5,515 | 5,609 | 626 | 651 | ||||||||||||
| Poland |
12,058 | 12,504 | 817 | 876 | ||||||||||||
| Santander Consumer Finance |
12,272 | 12,230 | 576 | 624 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| United Kingdom |
25,902 | 25,647 | 1,071 | 1,190 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Latin America |
83,299 | 86,649 | 5,705 | 5,881 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| o/w: Brazil |
47,205 | 51,383 | 3,449 | 3,697 | ||||||||||||
| Mexico |
14,859 | 14,264 | 1,293 | 1,215 | ||||||||||||
| Chile |
11,971 | 12,132 | 481 | 501 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| USA |
15,594 | 14,642 | 811 | 835 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating areas |
181,092 | 187,353 | 13,225 | 14,680 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Corporate Activities |
2,556 | 2,567 | ||||||||||||||
|
|
|
|
|
|||||||||||||
| Total Group |
183,648 | 189,920 | 13,225 | 14,680 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Operating areas
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
15,385 | 15,627 | (242 | ) | (1.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
4,747 | 5,008 | (261 | ) | (5.2 | ) | ||||||||||
| Gains (losses) on financial transactions |
727 | 1,258 | (530 | ) | (42.2 | ) | ||||||||||
| Other operating income * |
213 | 136 | 76 | 56.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
21,072 | 22,029 | (957 | ) | (4.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(9,364 | ) | (9,803 | ) | 439 | (4.5 | ) | |||||||||
| General administrative expenses |
(8,296 | ) | (8,698 | ) | 402 | (4.6 | ) | |||||||||
| Personnel |
(4,842 | ) | (5,107 | ) | 266 | (5.2 | ) | |||||||||
| Other general administrative expenses |
(3,454 | ) | (3,591 | ) | 137 | (3.8 | ) | |||||||||
| Depreciation and amortisation |
(1,068 | ) | (1,105 | ) | 36 | (3.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
11,708 | 12,227 | (518 | ) | (4.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(5,333 | ) | (6,323 | ) | 990 | (15.7 | ) | |||||||||
| Other income |
(802 | ) | (766 | ) | (37 | ) | 4.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
5,573 | 5,138 | 435 | 8.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,370 | ) | (1,151 | ) | (219 | ) | 19.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
4,202 | 3,986 | 216 | 5.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (14 | ) | 14 | (98.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
4,202 | 3,972 | 230 | 5.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
597 | 655 | (58 | ) | (8.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
3,605 | 3,317 | 288 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
702,640 | 711,374 | (8,734 | ) | (1.2 | ) | ||||||||||
| Trading portfolio (w/o loans) |
125,128 | 143,239 | (18,110 | ) | (12.6 | ) | ||||||||||
| Available-for-sale financial assets |
83,773 | 83,168 | 605 | 0.7 | ||||||||||||
| Due from credit institutions ** |
92,561 | 97,012 | (4,451 | ) | (4.6 | ) | ||||||||||
| Intangible assets and property and equipment |
16,294 | 13,474 | 2,819 | 20.9 | ||||||||||||
| Other assets |
118,478 | 123,688 | (5,209 | ) | (4.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
1,138,874 | 1,171,955 | (33,081 | ) | (2.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
616,197 | 637,275 | (21,078 | ) | (3.3 | ) | ||||||||||
| Marketable debt securities ** |
130,742 | 125,384 | 5,357 | 4.3 | ||||||||||||
| Subordinated debt ** |
13,780 | 11,706 | 2,074 | 17.7 | ||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 512 | 46.9 | ||||||||||||
| Due to credit institutions ** |
140,361 | 135,910 | 4,452 | 3.3 | ||||||||||||
| Other liabilities |
165,962 | 190,486 | (24,524 | ) | (12.9 | ) | ||||||||||
| Shareholders’ equity *** |
70,229 | 70,103 | 126 | 0.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
154,195 | 132,127 | 22,069 | 16.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
119,739 | 101,598 | 18,141 | 17.9 | ||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | ||||||||||||
| Managed portfolios |
23,198 | 20,393 | 2,804 | 13.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
914,914 | 906,492 | 8,422 | 0.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year
|
| |||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
7.57 | 4.19 | 3.37 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
44.4 | 44.5 | (0.1 p. | ) | ||||||||||||
| NPL ratio |
5.46 | 5.13 | 0.33 p. | |||||||||||||
| NPL coverage |
66.4 | 69.6 | (3.2 p. | ) | ||||||||||||
| Number of employees |
181,092 | 187,353 | (6,261 | ) | (3.3 | ) | ||||||||||
| Number of branches |
13,225 | 14,680 | (1,455 | ) | (9.9 | ) | ||||||||||
Operating areas
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
7,781 | 7,846 | 7,467 | 7,547 | 7,526 | 7,859 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
2,496 | 2,512 | 2,318 | 2,346 | 2,339 | 2,409 | ||||||||||||||||||
| Gains (losses) on financial transactions |
736 | 521 | 663 | 388 | 465 | 263 | ||||||||||||||||||
| Other operating income * |
31 | 106 | 47 | 61 | 18 | 194 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
11,044 | 10,985 | 10,496 | 10,343 | 10,348 | 10,724 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(4,891 | ) | (4,912 | ) | (4,767 | ) | (4,893 | ) | (4,655 | ) | (4,709 | ) | ||||||||||||
| General administrative expenses |
(4,341 | ) | (4,357 | ) | (4,223 | ) | (4,282 | ) | (4,092 | ) | (4,204 | ) | ||||||||||||
| Personnel |
(2,564 | ) | (2,543 | ) | (2,441 | ) | (2,506 | ) | (2,388 | ) | (2,453 | ) | ||||||||||||
| Other general administrative expenses |
(1,777 | ) | (1,813 | ) | (1,782 | ) | (1,776 | ) | (1,704 | ) | (1,750 | ) | ||||||||||||
| Depreciation and amortisation |
(549 | ) | (555 | ) | (544 | ) | (610 | ) | (563 | ) | (505 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
6,153 | 6,073 | 5,729 | 5,450 | 5,693 | 6,016 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(3,112 | ) | (3,211 | ) | (3,039 | ) | (2,777 | ) | (2,696 | ) | (2,637 | ) | ||||||||||||
| Other income |
(306 | ) | (460 | ) | (386 | ) | (471 | ) | (361 | ) | (441 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
2,735 | 2,403 | 2,304 | 2,202 | 2,635 | 2,937 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(628 | ) | (524 | ) | (535 | ) | (526 | ) | (648 | ) | (722 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
2,107 | 1,879 | 1,769 | 1,676 | 1,987 | 2,215 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | (1 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
2,107 | 1,865 | 1,769 | 1,675 | 1,987 | 2,215 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
359 | 296 | 284 | 231 | 279 | 318 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,748 | 1,570 | 1,485 | 1,444 | 1,708 | 1,897 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
733,717 | 711,374 | 698,995 | 683,460 | 687,983 | 702,640 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
154,901 | 143,239 | 124,380 | 102,395 | 114,653 | 125,128 | ||||||||||||||||||
| Available-for-sale financial assets |
89,663 | 83,168 | 74,690 | 73,123 | 83,996 | 83,773 | ||||||||||||||||||
| Due from credit institutions ** |
117,584 | 97,012 | 106,193 | 85,405 | 97,654 | 92,561 | ||||||||||||||||||
| Intangible assets and property and equipment |
13,220 | 13,474 | 13,954 | 14,685 | 15,404 | 16,294 | ||||||||||||||||||
| Other assets |
116,931 | 123,688 | 128,235 | 124,959 | 123,799 | 118,478 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
1,226,017 | 1,171,955 | 1,146,448 | 1,084,025 | 1,123,490 | 1,138,874 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
649,288 | 637,275 | 628,518 | 604,985 | 618,756 | 616,197 | ||||||||||||||||||
| Marketable debt securities ** |
132,728 | 125,384 | 123,397 | 121,850 | 122,433 | 130,742 | ||||||||||||||||||
| Subordinated debt ** |
13,358 | 11,706 | 10,707 | 12,268 | 13,565 | 13,780 | ||||||||||||||||||
| Insurance liabilities |
1,263 | 1,091 | 1,324 | 1,430 | 1,548 | 1,602 | ||||||||||||||||||
| Due to credit institutions ** |
148,856 | 135,910 | 139,458 | 122,777 | 133,264 | 140,361 | ||||||||||||||||||
| Other liabilities |
206,491 | 190,486 | 175,118 | 155,627 | 163,381 | 165,962 | ||||||||||||||||||
| Shareholders’ equity *** |
74,035 | 70,103 | 67,927 | 65,088 | 70,542 | 70,229 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
138,562 | 132,127 | 136,500 | 135,914 | 144,296 | 154,195 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
107,393 | 101,598 | 105,148 | 103,967 | 111,392 | 119,739 | ||||||||||||||||||
| Pension funds |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
| Managed portfolios |
20,988 | 20,393 | 20,925 | 21,068 | 21,839 | 23,198 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
933,934 | 906,492 | 899,121 | 875,018 | 899,050 | 914,914 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(**).- Including all on-balance sheet balances for this item |
| |||||||||||||||||||||||
| (***).- Not including profit of the year
|
| |||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
4.70 | 5.13 | 5.39 | 5.61 | 5.54 | 5.46 | ||||||||||||||||||
| NPL coverage |
75.0 | 69.6 | 67.2 | 64.6 | 66.0 | 66.4 | ||||||||||||||||||
| Cost of credit |
2.49 | 2.15 | 1.85 | 1.65 | 1.61 | 1.55 | ||||||||||||||||||
Operating areas
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
15,385 | 14,358 | 1,027 | 7.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
4,747 | 4,618 | 129 | 2.8 | ||||||||||||
| Gains (losses) on financial transactions |
727 | 1,178 | (450 | ) | (38.2 | ) | ||||||||||
| Other operating income * |
213 | 133 | 79 | 59.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
21,072 | 20,287 | 785 | 3.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(9,364 | ) | (9,125 | ) | (239 | ) | 2.6 | |||||||||
| General administrative expenses |
(8,296 | ) | (8,091 | ) | (205 | ) | 2.5 | |||||||||
| Personnel |
(4,842 | ) | (4,768 | ) | (73 | ) | 1.5 | |||||||||
| Other general administrative expenses |
(3,454 | ) | (3,322 | ) | (132 | ) | 4.0 | |||||||||
| Depreciation and amortisation |
(1,068 | ) | (1,034 | ) | (34 | ) | 3.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
11,708 | 11,162 | 546 | 4.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(5,333 | ) | (5,767 | ) | 434 | (7.5 | ) | |||||||||
| Other income |
(802 | ) | (732 | ) | (71 | ) | 9.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
5,573 | 4,663 | 910 | 19.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,370 | ) | (1,035 | ) | (335 | ) | 32.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
4,202 | 3,628 | 575 | 15.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (15 | ) | 14 | (98.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
4,202 | 3,613 | 589 | 16.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
597 | 584 | 13 | 2.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
3,605 | 3,029 | 576 | 19.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
702,640 | 716,151 | (13,511 | ) | (1.9 | ) | ||||||||||
| Trading portfolio (w/o loans) |
125,128 | 144,313 | (19,185 | ) | (13.3 | ) | ||||||||||
| Available-for-sale financial assets |
83,773 | 82,090 | 1,683 | 2.1 | ||||||||||||
| Due from credit institutions ** |
92,561 | 96,759 | (4,199 | ) | (4.3 | ) | ||||||||||
| Intangible assets and property and equipment |
16,294 | 13,343 | 2,951 | 22.1 | ||||||||||||
| Other assets |
118,478 | 124,354 | (5,875 | ) | (4.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
1,138,874 | 1,177,010 | (38,136 | ) | (3.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
616,197 | 640,610 | (24,412 | ) | (3.8 | ) | ||||||||||
| Marketable debt securities ** |
130,742 | 127,841 | 2,901 | 2.3 | ||||||||||||
| Subordinated debt ** |
13,780 | 11,755 | 2,025 | 17.2 | ||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 512 | 46.9 | ||||||||||||
| Due to credit institutions ** |
140,361 | 135,618 | 4,743 | 3.5 | ||||||||||||
| Other liabilities |
165,962 | 190,781 | (24,819 | ) | (13.0 | ) | ||||||||||
| Shareholders’ equity *** |
70,229 | 69,314 | 915 | 1.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
154,195 | 129,623 | 24,572 | 19.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
119,739 | 99,771 | 19,968 | 20.0 | ||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | ||||||||||||
| Managed portfolios |
23,198 | 19,717 | 3,481 | 17.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
914,914 | 909,829 | 5,086 | 0.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Operating areas
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
7,123 | 7,235 | 7,265 | 7,443 | 7,597 | 7,788 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
2,296 | 2,322 | 2,251 | 2,301 | 2,358 | 2,389 | ||||||||||||||||||
| Gains (losses) on financial transactions |
683 | 494 | 633 | 382 | 465 | 262 | ||||||||||||||||||
| Other operating income * |
29 | 104 | 45 | 61 | 19 | 194 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
10,132 | 10,155 | 10,195 | 10,187 | 10,439 | 10,634 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(4,545 | ) | (4,580 | ) | (4,638 | ) | (4,810 | ) | (4,692 | ) | (4,672 | ) | ||||||||||||
| General administrative expenses |
(4,031 | ) | (4,059 | ) | (4,105 | ) | (4,206 | ) | (4,124 | ) | (4,172 | ) | ||||||||||||
| Personnel |
(2,390 | ) | (2,378 | ) | (2,378 | ) | (2,469 | ) | (2,406 | ) | (2,436 | ) | ||||||||||||
| Other general administrative expenses |
(1,641 | ) | (1,681 | ) | (1,727 | ) | (1,737 | ) | (1,718 | ) | (1,736 | ) | ||||||||||||
| Depreciation and amortisation |
(513 | ) | (521 | ) | (532 | ) | (604 | ) | (568 | ) | (500 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
5,587 | 5,575 | 5,557 | 5,377 | 5,747 | 5,961 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(2,821 | ) | (2,947 | ) | (2,966 | ) | (2,749 | ) | (2,724 | ) | (2,609 | ) | ||||||||||||
| Other income |
(293 | ) | (439 | ) | (373 | ) | (460 | ) | (365 | ) | (437 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
2,473 | 2,190 | 2,217 | 2,168 | 2,658 | 2,915 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(564 | ) | (471 | ) | (508 | ) | (514 | ) | (654 | ) | (716 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
1,909 | 1,718 | 1,709 | 1,654 | 2,004 | 2,199 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (15 | ) | (0 | ) | (0 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
1,909 | 1,704 | 1,709 | 1,653 | 2,003 | 2,199 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
319 | 265 | 272 | 227 | 283 | 315 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,591 | 1,438 | 1,437 | 1,426 | 1,721 | 1,884 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
719,787 | 716,151 | 705,193 | 697,228 | 699,925 | 702,640 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
153,068 | 144,313 | 125,983 | 104,565 | 116,425 | 125,128 | ||||||||||||||||||
| Available-for-sale financial assets |
85,503 | 82,090 | 74,723 | 74,556 | 85,307 | 83,773 | ||||||||||||||||||
| Due from credit institutions ** |
113,865 | 96,759 | 107,008 | 87,373 | 98,841 | 92,561 | ||||||||||||||||||
| Intangible assets and property and equipment |
12,598 | 13,343 | 13,973 | 14,983 | 15,647 | 16,294 | ||||||||||||||||||
| Other assets |
112,045 | 124,354 | 129,763 | 128,350 | 126,741 | 118,478 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
1,196,866 | 1,177,010 | 1,156,644 | 1,107,053 | 1,142,885 | 1,138,874 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
635,446 | 640,610 | 633,805 | 616,570 | 629,195 | 616,197 | ||||||||||||||||||
| Marketable debt securities ** |
130,868 | 127,841 | 125,812 | 126,057 | 125,673 | 130,742 | ||||||||||||||||||
| Subordinated debt ** |
12,661 | 11,755 | 10,835 | 12,722 | 13,990 | 13,780 | ||||||||||||||||||
| Insurance liabilities |
1,263 | 1,091 | 1,324 | 1,430 | 1,549 | 1,602 | ||||||||||||||||||
| Due to credit institutions ** |
144,385 | 135,618 | 140,339 | 124,979 | 135,042 | 140,361 | ||||||||||||||||||
| Other liabilities |
201,885 | 190,781 | 176,403 | 158,794 | 165,724 | 165,962 | ||||||||||||||||||
| Shareholders’ equity *** |
70,357 | 69,314 | 68,125 | 66,501 | 71,711 | 70,229 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
129,151 | 129,623 | 136,840 | 139,964 | 146,949 | 154,195 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
99,377 | 99,771 | 105,681 | 107,720 | 113,790 | 119,739 | ||||||||||||||||||
| Pension funds |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
| Managed portfolios |
19,593 | 19,717 | 20,733 | 21,365 | 22,095 | 23,198 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
908,127 | 909,829 | 907,292 | 895,313 | 915,807 | 914,914 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Continental Europe
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
4,282 | 4,062 | 220 | 5.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,769 | 1,766 | 3 | 0.2 | ||||||||||||
| Gains (losses) on financial transactions |
296 | 395 | (100 | ) | (25.2 | ) | ||||||||||
| Other operating income * |
106 | 111 | (5 | ) | (4.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
6,452 | 6,333 | 118 | 1.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,189 | ) | (3,270 | ) | 81 | (2.5 | ) | |||||||||
| General administrative expenses |
(2,830 | ) | (2,908 | ) | 78 | (2.7 | ) | |||||||||
| Personnel |
(1,669 | ) | (1,762 | ) | 93 | (5.3 | ) | |||||||||
| Other general administrative expenses |
(1,161 | ) | (1,146 | ) | (15 | ) | 1.3 | |||||||||
| Depreciation and amortisation |
(359 | ) | (362 | ) | 3 | (0.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
3,263 | 3,064 | 199 | 6.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,561 | ) | (1,894 | ) | 334 | (17.6 | ) | |||||||||
| Other income |
(348 | ) | (387 | ) | 39 | (10.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,354 | 782 | 572 | 73.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(318 | ) | (161 | ) | (157 | ) | 97.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,036 | 621 | 415 | 66.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | (0 | ) | 108.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,036 | 621 | 415 | 66.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
74 | 71 | 3 | 4.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
962 | 551 | 411 | 74.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
267,071 | 278,512 | (11,440 | ) | (4.1 | ) | ||||||||||
| Trading portfolio (w/o loans) |
59,106 | 78,032 | (18,925 | ) | (24.3 | ) | ||||||||||
| Available-for-sale financial assets |
40,818 | 44,188 | (3,370 | ) | (7.6 | ) | ||||||||||
| Due from credit institutions ** |
53,500 | 55,652 | (2,152 | ) | (3.9 | ) | ||||||||||
| Intangible assets and property and equipment |
5,500 | 6,099 | (599 | ) | (9.8 | ) | ||||||||||
| Other assets |
27,596 | 23,517 | 4,079 | 17.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
453,591 | 485,999 | (32,408 | ) | (6.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
254,985 | 267,427 | (12,442 | ) | (4.7 | ) | ||||||||||
| Marketable debt securities ** |
18,761 | 16,916 | 1,845 | 10.9 | ||||||||||||
| Subordinated debt ** |
409 | 349 | 60 | 17.1 | ||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 512 | 46.9 | ||||||||||||
| Due to credit institutions ** |
70,234 | 67,974 | 2,260 | 3.3 | ||||||||||||
| Other liabilities |
82,307 | 106,641 | (24,334 | ) | (22.8 | ) | ||||||||||
| Shareholders’ equity *** |
25,292 | 25,601 | (309 | ) | (1.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
62,125 | 49,642 | 12,483 | 25.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
43,840 | 33,072 | 10,769 | 32.6 | ||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | ||||||||||||
| Managed portfolios |
7,027 | 6,435 | 591 | 9.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
336,280 | 334,334 | 1,946 | 0.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
7.57 | 4.19 | 3.37 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
49.4 | 51.6 | (2.2 p. | ) | ||||||||||||
| NPL ratio |
9.04 | 7.83 | 1.21 p. | |||||||||||||
| NPL coverage |
58.3 | 63.3 | (5.0 p. | ) | ||||||||||||
| Number of employees |
56,297 | 60,415 | (4,118 | ) | (6.8 | ) | ||||||||||
| Number of branches |
5,638 | 6,774 | (1,136 | ) | (16.8 | ) | ||||||||||
Continental Europe
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,999 | 2,063 | 2,010 | 2,035 | 2,093 | 2,188 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
879 | 887 | 849 | 805 | 880 | 889 | ||||||||||||||||||
| Gains (losses) on financial transactions |
264 | 131 | 268 | 110 | 233 | 63 | ||||||||||||||||||
| Other operating income * |
29 | 82 | 25 | 28 | (10 | ) | 116 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
3,171 | 3,163 | 3,152 | 2,979 | 3,196 | 3,256 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,651 | ) | (1,619 | ) | (1,607 | ) | (1,618 | ) | (1,607 | ) | (1,582 | ) | ||||||||||||
| General administrative expenses |
(1,470 | ) | (1,437 | ) | (1,428 | ) | (1,402 | ) | (1,417 | ) | (1,413 | ) | ||||||||||||
| Personnel |
(896 | ) | (867 | ) | (859 | ) | (867 | ) | (841 | ) | (829 | ) | ||||||||||||
| Other general administrative expenses |
(575 | ) | (571 | ) | (569 | ) | (535 | ) | (577 | ) | (584 | ) | ||||||||||||
| Depreciation and amortisation |
(180 | ) | (182 | ) | (180 | ) | (216 | ) | (189 | ) | (170 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
1,520 | 1,543 | 1,545 | 1,361 | 1,589 | 1,673 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(901 | ) | (993 | ) | (946 | ) | (763 | ) | (791 | ) | (770 | ) | ||||||||||||
| Other income |
(192 | ) | (194 | ) | (188 | ) | (185 | ) | (152 | ) | (196 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
427 | 356 | 411 | 413 | 647 | 707 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(96 | ) | (66 | ) | (83 | ) | (106 | ) | (148 | ) | (171 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
331 | 290 | 328 | 307 | 500 | 536 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (0 | ) | (0 | ) | (6 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
331 | 290 | 327 | 301 | 499 | 536 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
29 | 42 | 45 | 20 | 37 | 37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
303 | 248 | 283 | 282 | 463 | 499 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
287,156 | 278,512 | 271,834 | 266,355 | 265,216 | 267,071 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
84,960 | 78,032 | 61,710 | 50,317 | 55,733 | 59,106 | ||||||||||||||||||
| Available-for-sale financial assets |
45,367 | 44,188 | 41,455 | 37,319 | 39,969 | 40,818 | ||||||||||||||||||
| Due from credit institutions ** |
59,434 | 55,652 | 55,455 | 38,547 | 55,163 | 53,500 | ||||||||||||||||||
| Intangible assets and property and equipment |
5,662 | 6,099 | 6,084 | 6,148 | 5,801 | 5,500 | ||||||||||||||||||
| Other assets |
21,520 | 23,517 | 29,646 | 39,902 | 30,987 | 27,596 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
504,098 | 485,999 | 466,183 | 438,589 | 452,869 | 453,591 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
272,221 | 267,427 | 262,970 | 256,138 | 258,043 | 254,985 | ||||||||||||||||||
| Marketable debt securities ** |
19,990 | 16,916 | 15,578 | 16,781 | 15,783 | 18,761 | ||||||||||||||||||
| Subordinated debt ** |
351 | 349 | 365 | 406 | 407 | 409 | ||||||||||||||||||
| Insurance liabilities |
1,263 | 1,091 | 1,324 | 1,430 | 1,548 | 1,602 | ||||||||||||||||||
| Due to credit institutions ** |
74,813 | 67,974 | 69,727 | 59,440 | 66,716 | 70,234 | ||||||||||||||||||
| Other liabilities |
109,065 | 106,641 | 91,044 | 79,309 | 84,544 | 82,307 | ||||||||||||||||||
| Shareholders’ equity *** |
26,394 | 25,601 | 25,175 | 25,086 | 25,827 | 25,292 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
48,709 | 49,642 | 52,931 | 55,278 | 58,443 | 62,125 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
32,140 | 33,072 | 35,561 | 37,680 | 40,804 | 43,840 | ||||||||||||||||||
| Pension funds |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
| Managed portfolios |
6,388 | 6,435 | 6,943 | 6,719 | 6,574 | 7,027 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
341,271 | 334,334 | 331,844 | 328,602 | 332,675 | 336,280 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
6.62 | 7.83 | 8.48 | 9.13 | 9.12 | 9.04 | ||||||||||||||||||
| NPL coverage |
71.0 | 63.3 | 61.1 | 57.3 | 58.0 | 58.3 | ||||||||||||||||||
| Cost of credit |
3.13 | 2.33 | 1.71 | 1.23 | 1.21 | 1.14 | ||||||||||||||||||
Continental Europe
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
4,282 | 4,048 | 234 | 5.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,769 | 1,765 | 4 | 0.2 | ||||||||||||
| Gains (losses) on financial transactions |
296 | 395 | (100 | ) | (25.2 | ) | ||||||||||
| Other operating income * |
106 | 111 | (5 | ) | (4.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
6,452 | 6,319 | 133 | 2.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,189 | ) | (3,264 | ) | 75 | (2.3 | ) | |||||||||
| General administrative expenses |
(2,830 | ) | (2,903 | ) | 73 | (2.5 | ) | |||||||||
| Personnel |
(1,669 | ) | (1,760 | ) | 90 | (5.1 | ) | |||||||||
| Other general administrative expenses |
(1,161 | ) | (1,143 | ) | (18 | ) | 1.5 | |||||||||
| Depreciation and amortisation |
(359 | ) | (361 | ) | 2 | (0.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
3,263 | 3,054 | 208 | 6.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,561 | ) | (1,892 | ) | 331 | (17.5 | ) | |||||||||
| Other income |
(348 | ) | (387 | ) | 39 | (10.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,354 | 776 | 578 | 74.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(318 | ) | (160 | ) | (159 | ) | 99.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,036 | 617 | 420 | 68.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | (0 | ) | 115.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,036 | 616 | 419 | 68.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
74 | 71 | 3 | 4.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
962 | 546 | 416 | 76.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
267,071 | 278,879 | (11,808 | ) | (4.2 | ) | ||||||||||
| Trading portfolio (w/o loans) |
59,106 | 78,059 | (18,953 | ) | (24.3 | ) | ||||||||||
| Available-for-sale financial assets |
40,818 | 44,398 | (3,580 | ) | (8.1 | ) | ||||||||||
| Due from credit institutions ** |
53,500 | 55,646 | (2,146 | ) | (3.9 | ) | ||||||||||
| Intangible assets and property and equipment |
5,500 | 6,107 | (607 | ) | (9.9 | ) | ||||||||||
| Other assets |
27,596 | 23,564 | 4,032 | 17.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
453,591 | 486,653 | (33,062 | ) | (6.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
254,985 | 268,183 | (13,198 | ) | (4.9 | ) | ||||||||||
| Marketable debt securities ** |
18,761 | 16,837 | 1,924 | 11.4 | ||||||||||||
| Subordinated debt ** |
409 | 364 | 45 | 12.5 | ||||||||||||
| Insurance liabilities |
1,602 | 1,091 | 512 | 46.9 | ||||||||||||
| Due to credit institutions ** |
70,234 | 67,771 | 2,462 | 3.6 | ||||||||||||
| Other liabilities |
82,307 | 106,756 | (24,449 | ) | (22.9 | ) | ||||||||||
| Shareholders’ equity *** |
25,292 | 25,651 | (359 | ) | (1.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
62,125 | 49,789 | 12,335 | 24.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
43,840 | 33,215 | 10,625 | 32.0 | ||||||||||||
| Pension funds |
11,258 | 10,135 | 1,123 | 11.1 | ||||||||||||
| Managed portfolios |
7,027 | 6,440 | 587 | 9.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
336,280 | 335,173 | 1,106 | 0.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Continental Europe
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,990 | 2,058 | 2,011 | 2,035 | 2,095 | 2,187 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
878 | 887 | 851 | 806 | 880 | 888 | ||||||||||||||||||
| Gains (losses) on financial transactions |
264 | 131 | 269 | 110 | 233 | 63 | ||||||||||||||||||
| Other operating income * |
29 | 82 | 25 | 28 | (10 | ) | 116 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
3,160 | 3,158 | 3,155 | 2,980 | 3,198 | 3,254 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,646 | ) | (1,618 | ) | (1,609 | ) | (1,618 | ) | (1,607 | ) | (1,582 | ) | ||||||||||||
| General administrative expenses |
(1,467 | ) | (1,436 | ) | (1,429 | ) | (1,402 | ) | (1,418 | ) | (1,412 | ) | ||||||||||||
| Personnel |
(894 | ) | (866 | ) | (860 | ) | (867 | ) | (841 | ) | (828 | ) | ||||||||||||
| Other general administrative expenses |
(573 | ) | (570 | ) | (570 | ) | (535 | ) | (577 | ) | (584 | ) | ||||||||||||
| Depreciation and amortisation |
(180 | ) | (182 | ) | (180 | ) | (216 | ) | (189 | ) | (170 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
1,514 | 1,540 | 1,546 | 1,362 | 1,590 | 1,672 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(899 | ) | (993 | ) | (946 | ) | (764 | ) | (791 | ) | (770 | ) | ||||||||||||
| Other income |
(192 | ) | (194 | ) | (188 | ) | (185 | ) | (152 | ) | (196 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
423 | 353 | 413 | 413 | 648 | 707 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(95 | ) | (65 | ) | (84 | ) | (106 | ) | (148 | ) | (171 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
328 | 288 | 329 | 307 | 500 | 536 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (0 | ) | (0 | ) | (5 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
328 | 288 | 329 | 301 | 500 | 536 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
29 | 42 | 45 | 20 | 37 | 37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
300 | 246 | 283 | 282 | 463 | 499 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
286,512 | 278,879 | 271,913 | 266,309 | 265,155 | 267,071 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
84,962 | 78,059 | 61,719 | 50,316 | 55,736 | 59,106 | ||||||||||||||||||
| Available-for-sale financial assets |
45,399 | 44,398 | 41,543 | 37,315 | 39,987 | 40,818 | ||||||||||||||||||
| Due from credit institutions ** |
59,382 | 55,646 | 55,454 | 38,544 | 55,159 | 53,500 | ||||||||||||||||||
| Intangible assets and property and equipment |
5,658 | 6,107 | 6,086 | 6,148 | 5,801 | 5,500 | ||||||||||||||||||
| Other assets |
21,517 | 23,564 | 29,676 | 39,898 | 30,992 | 27,596 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
503,429 | 486,653 | 466,391 | 438,531 | 452,829 | 453,591 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
272,315 | 268,183 | 263,275 | 256,120 | 258,092 | 254,985 | ||||||||||||||||||
| Marketable debt securities ** |
19,807 | 16,837 | 15,528 | 16,770 | 15,745 | 18,761 | ||||||||||||||||||
| Subordinated debt ** |
353 | 364 | 371 | 405 | 408 | 409 | ||||||||||||||||||
| Insurance liabilities |
1,263 | 1,091 | 1,324 | 1,430 | 1,549 | 1,602 | ||||||||||||||||||
| Due to credit institutions ** |
74,294 | 67,771 | 69,619 | 59,418 | 66,663 | 70,234 | ||||||||||||||||||
| Other liabilities |
109,058 | 106,756 | 91,086 | 79,306 | 84,550 | 82,307 | ||||||||||||||||||
| Shareholders’ equity *** |
26,340 | 25,651 | 25,190 | 25,082 | 25,823 | 25,292 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
48,728 | 49,789 | 52,992 | 55,275 | 58,456 | 62,125 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
32,159 | 33,215 | 35,620 | 37,678 | 40,817 | 43,840 | ||||||||||||||||||
| Pension funds |
10,181 | 10,135 | 10,427 | 10,879 | 11,064 | 11,258 | ||||||||||||||||||
| Managed portfolios |
6,389 | 6,440 | 6,945 | 6,719 | 6,574 | 7,027 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
341,203 | 335,173 | 332,165 | 328,571 | 332,700 | 336,280 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Spain
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,339 | 2,191 | 148 | 6.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
925 | 967 | (42 | ) | (4.3 | ) | ||||||||||
| Gains (losses) on financial transactions |
234 | 302 | (68 | ) | (22.4 | ) | ||||||||||
| Other operating income * |
76 | 117 | (42 | ) | (35.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
3,574 | 3,578 | (3 | ) | (0.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,767 | ) | (1,895 | ) | 128 | (6.7 | ) | |||||||||
| General administrative expenses |
(1,588 | ) | (1,713 | ) | 124 | (7.3 | ) | |||||||||
| Personnel |
(986 | ) | (1,080 | ) | 94 | (8.7 | ) | |||||||||
| Other general administrative expenses |
(602 | ) | (632 | ) | 31 | (4.8 | ) | |||||||||
| Depreciation and amortisation |
(179 | ) | (182 | ) | 3 | (1.8 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,807 | 1,683 | 125 | 7.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(995 | ) | (1,205 | ) | 210 | (17.4 | ) | |||||||||
| Other income |
(84 | ) | (65 | ) | (19 | ) | 28.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
728 | 412 | 316 | 76.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(214 | ) | (124 | ) | (90 | ) | 72.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
514 | 288 | 226 | 78.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
514 | 288 | 226 | 78.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
2 | 2 | 0 | 4.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
513 | 287 | 226 | 78.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
159,264 | 171,176 | (11,913 | ) | (7.0 | ) | ||||||||||
| Trading portfolio (w/o loans) |
56,119 | 70,625 | (14,505 | ) | (20.5 | ) | ||||||||||
| Available-for-sale financial assets |
28,230 | 32,908 | (4,678 | ) | (14.2 | ) | ||||||||||
| Due from credit institutions ** |
35,178 | 36,946 | (1,768 | ) | (4.8 | ) | ||||||||||
| Intangible assets and property and equipment |
3,600 | 3,995 | (394 | ) | (9.9 | ) | ||||||||||
| Other assets |
9,936 | 8,171 | 1,765 | 21.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
292,328 | 323,821 | (31,493 | ) | (9.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
181,065 | 194,330 | (13,265 | ) | (6.8 | ) | ||||||||||
| Marketable debt securities ** |
1,327 | 7,471 | (6,144 | ) | (82.2 | ) | ||||||||||
| Subordinated debt ** |
8 | 7 | 0 | 6.5 | ||||||||||||
| Insurance liabilities |
526 | 475 | 51 | 10.7 | ||||||||||||
| Due to credit institutions ** |
31,736 | 22,933 | 8,803 | 38.4 | ||||||||||||
| Other liabilities |
66,570 | 87,042 | (20,472 | ) | (23.5 | ) | ||||||||||
| Shareholders’ equity *** |
11,095 | 11,562 | (466 | ) | (4.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
55,383 | 42,112 | 13,271 | 31.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
38,827 | 28,337 | 10,490 | 37.0 | ||||||||||||
| Pension funds |
10,388 | 9,362 | 1,027 | 11.0 | ||||||||||||
| Managed portfolios |
6,167 | 4,413 | 1,754 | 39.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
237,783 | 243,921 | (6,138 | ) | (2.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
9.22 | 4.81 | 4.42 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
49.4 | 53.0 | (3.5 p. | ) | ||||||||||||
| NPL ratio |
7.59 | 5.75 | 1.84 p. | |||||||||||||
| NPL coverage |
44.9 | 43.1 | 1.8 p. | |||||||||||||
| Number of employees |
25,465 | 28,859 | (3,394 | ) | (11.8 | ) | ||||||||||
| Number of branches |
3,609 | 4,612 | (1,003 | ) | (21.7 | ) | ||||||||||
Spain
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,073 | 1,119 | 1,065 | 1,101 | 1,146 | 1,193 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
484 | 483 | 443 | 423 | 456 | 469 | ||||||||||||||||||
| Gains (losses) on financial transactions |
206 | 96 | 217 | 92 | 205 | 29 | ||||||||||||||||||
| Other operating income * |
35 | 82 | 17 | 19 | (15 | ) | 91 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,798 | 1,780 | 1,742 | 1,634 | 1,792 | 1,782 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(953 | ) | (941 | ) | (936 | ) | (902 | ) | (894 | ) | (873 | ) | ||||||||||||
| General administrative expenses |
(863 | ) | (850 | ) | (847 | ) | (790 | ) | (801 | ) | (787 | ) | ||||||||||||
| Personnel |
(548 | ) | (532 | ) | (521 | ) | (514 | ) | (499 | ) | (488 | ) | ||||||||||||
| Other general administrative expenses |
(315 | ) | (318 | ) | (326 | ) | (276 | ) | (302 | ) | (300 | ) | ||||||||||||
| Depreciation and amortisation |
(91 | ) | (92 | ) | (90 | ) | (112 | ) | (93 | ) | (86 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
844 | 838 | 805 | 732 | 898 | 909 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(516 | ) | (690 | ) | (630 | ) | (575 | ) | (507 | ) | (488 | ) | ||||||||||||
| Other income |
(36 | ) | (29 | ) | (59 | ) | (11 | ) | (33 | ) | (51 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
293 | 119 | 116 | 145 | 358 | 370 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(89 | ) | (35 | ) | (35 | ) | (48 | ) | (104 | ) | (110 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
204 | 84 | 81 | 98 | 253 | 261 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | 0 | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
204 | 84 | 81 | 98 | 253 | 261 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
1 | 1 | 0 | (1 | ) | 2 | (0 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
203 | 84 | 81 | 98 | 251 | 261 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
176,431 | 171,176 | 164,775 | 159,753 | 157,458 | 159,264 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
73,971 | 70,625 | 56,508 | 47,062 | 51,605 | 56,119 | ||||||||||||||||||
| Available-for-sale financial assets |
33,228 | 32,908 | 30,246 | 25,608 | 26,932 | 28,230 | ||||||||||||||||||
| Due from credit institutions ** |
37,557 | 36,946 | 36,702 | 25,092 | 37,314 | 35,178 | ||||||||||||||||||
| Intangible assets and property and equipment |
4,033 | 3,995 | 4,019 | 4,111 | 3,856 | 3,600 | ||||||||||||||||||
| Other assets |
3,794 | 8,171 | 12,661 | 21,183 | 13,969 | 9,936 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
329,013 | 323,821 | 304,910 | 282,808 | 291,134 | 292,328 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
197,464 | 194,330 | 188,824 | 181,117 | 183,196 | 181,065 | ||||||||||||||||||
| Marketable debt securities ** |
10,153 | 7,471 | 4,821 | 3,953 | 2,196 | 1,327 | ||||||||||||||||||
| Subordinated debt ** |
7 | 7 | 22 | 8 | 8 | 8 | ||||||||||||||||||
| Insurance liabilities |
708 | 475 | 554 | 525 | 551 | 526 | ||||||||||||||||||
| Due to credit institutions ** |
21,224 | 22,933 | 26,574 | 22,759 | 25,847 | 31,736 | ||||||||||||||||||
| Other liabilities |
87,567 | 87,042 | 72,921 | 62,926 | 68,088 | 66,570 | ||||||||||||||||||
| Shareholders’ equity *** |
11,891 | 11,562 | 11,195 | 11,521 | 11,249 | 11,095 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
40,902 | 42,112 | 45,355 | 48,267 | 51,969 | 55,383 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
27,199 | 28,337 | 30,834 | 32,951 | 36,018 | 38,827 | ||||||||||||||||||
| Pension funds |
9,396 | 9,362 | 9,645 | 10,025 | 10,197 | 10,388 | ||||||||||||||||||
| Managed portfolios |
4,307 | 4,413 | 4,875 | 5,291 | 5,754 | 6,167 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
248,525 | 243,921 | 239,021 | 233,344 | 237,369 | 237,783 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
4.12 | 5.75 | 6.40 | 7.49 | 7.61 | 7.59 | ||||||||||||||||||
| NPL coverage |
50.3 | 43.1 | 45.0 | 44.0 | 44.6 | 44.9 | ||||||||||||||||||
| Cost of credit |
1.23 | 1.26 | 1.36 | 1.36 | 1.37 | 1.31 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
2.37 | 2.54 | 2.48 | 2.63 | 2.84 | 2.83 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
2.21 | 2.26 | 2.33 | 2.43 | 2.39 | 2.36 | ||||||||||||||||||
| Deposit spreads |
0.16 | 0.28 | 0.15 | 0.20 | 0.45 | 0.47 | ||||||||||||||||||
Portugal
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
267 | 251 | 16 | 6.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
139 | 172 | (33 | ) | (19.0 | ) | ||||||||||
| Gains (losses) on financial transactions |
40 | 30 | 10 | 33.9 | ||||||||||||
| Other operating income * |
20 | 12 | 8 | 63.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
465 | 465 | 1 | 0.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(243 | ) | (246 | ) | 3 | (1.1 | ) | |||||||||
| General administrative expenses |
(207 | ) | (206 | ) | (0 | ) | 0.2 | |||||||||
| Personnel |
(146 | ) | (149 | ) | 3 | (1.9 | ) | |||||||||
| Other general administrative expenses |
(60 | ) | (57 | ) | (3 | ) | 5.7 | |||||||||
| Depreciation and amortisation |
(37 | ) | (40 | ) | 3 | (8.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
222 | 219 | 4 | 1.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(75 | ) | (126 | ) | 51 | (40.8 | ) | |||||||||
| Other income |
(59 | ) | (30 | ) | (29 | ) | 97.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
89 | 63 | 26 | 41.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(18 | ) | (17 | ) | (1 | ) | 8.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
70 | 46 | 24 | 53.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
70 | 46 | 24 | 53.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
(4 | ) | 0 | (4 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
74 | 46 | 29 | 62.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
24,111 | 25,210 | (1,099 | ) | (4.4 | ) | ||||||||||
| Trading portfolio (w/o loans) |
1,880 | 1,794 | 86 | 4.8 | ||||||||||||
| Available-for-sale financial assets |
7,119 | 4,934 | 2,185 | 44.3 | ||||||||||||
| Due from credit institutions ** |
2,491 | 3,566 | (1,075 | ) | (30.1 | ) | ||||||||||
| Intangible assets and property and equipment |
763 | 906 | (143 | ) | (15.8 | ) | ||||||||||
| Other assets |
6,276 | 5,829 | 447 | 7.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
42,640 | 42,239 | 401 | 0.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
23,253 | 23,577 | (324 | ) | (1.4 | ) | ||||||||||
| Marketable debt securities ** |
3,811 | 2,396 | 1,415 | 59.1 | ||||||||||||
| Subordinated debt ** |
0 | 0 | 0 | 57.2 | ||||||||||||
| Insurance liabilities |
80 | 87 | (7 | ) | (8.0 | ) | ||||||||||
| Due to credit institutions ** |
12,271 | 13,336 | (1,065 | ) | (8.0 | ) | ||||||||||
| Other liabilities |
641 | 296 | 345 | 116.6 | ||||||||||||
| Shareholders’ equity *** |
2,583 | 2,547 | 36 | 1.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
2,396 | 2,158 | 238 | 11.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
1,311 | 1,281 | 30 | 2.4 | ||||||||||||
| Pension funds |
864 | 768 | 95 | 12.4 | ||||||||||||
| Managed portfolios |
222 | 109 | 113 | 103.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
29,460 | 28,131 | 1,329 | 4.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
5.67 | 3.60 | 2.07 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
52.2 | 52.9 | (0.7 p. | ) | ||||||||||||
| NPL ratio |
8.16 | 7.41 | 0.75 p. | |||||||||||||
| NPL coverage |
53.1 | 52.4 | 0.7 p. | |||||||||||||
| Number of employees |
5,515 | 5,609 | (94 | ) | (1.7 | ) | ||||||||||
| Number of branches |
626 | 651 | (25 | ) | (3.8 | ) | ||||||||||
Portugal
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
117 | 134 | 132 | 131 | 129 | 138 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
85 | 87 | 79 | 67 | 73 | 66 | ||||||||||||||||||
| Gains (losses) on financial transactions |
23 | 7 | 10 | 11 | 18 | 22 | ||||||||||||||||||
| Other operating income * |
6 | 6 | 7 | 15 | 9 | 11 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
231 | 233 | 228 | 224 | 228 | 237 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(124 | ) | (122 | ) | (123 | ) | (126 | ) | (122 | ) | (121 | ) | ||||||||||||
| General administrative expenses |
(104 | ) | (102 | ) | (103 | ) | (107 | ) | (103 | ) | (104 | ) | ||||||||||||
| Personnel |
(75 | ) | (74 | ) | (74 | ) | (76 | ) | (73 | ) | (73 | ) | ||||||||||||
| Other general administrative expenses |
(29 | ) | (28 | ) | (29 | ) | (31 | ) | (30 | ) | (31 | ) | ||||||||||||
| Depreciation and amortisation |
(20 | ) | (20 | ) | (20 | ) | (19 | ) | (19 | ) | (17 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
107 | 112 | 105 | 97 | 106 | 116 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(64 | ) | (62 | ) | (56 | ) | (11 | ) | (34 | ) | (40 | ) | ||||||||||||
| Other income |
(13 | ) | (17 | ) | (6 | ) | (42 | ) | (30 | ) | (29 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
31 | 32 | 44 | 44 | 42 | 47 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(10 | ) | (7 | ) | (12 | ) | (15 | ) | (9 | ) | (9 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
21 | 25 | 32 | 29 | 33 | 37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
21 | 25 | 32 | 29 | 33 | 37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | 0 | (0 | ) | (8 | ) | (2 | ) | (2 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
21 | 25 | 32 | 37 | 36 | 39 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
25,518 | 25,210 | 24,712 | 24,482 | 24,240 | 24,111 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
1,905 | 1,794 | 1,788 | 1,831 | 1,884 | 1,880 | ||||||||||||||||||
| Available-for-sale financial assets |
4,675 | 4,934 | 4,662 | 4,724 | 6,711 | 7,119 | ||||||||||||||||||
| Due from credit institutions ** |
3,447 | 3,566 | 2,761 | 2,895 | 2,540 | 2,491 | ||||||||||||||||||
| Intangible assets and property and equipment |
392 | 906 | 896 | 821 | 800 | 763 | ||||||||||||||||||
| Other assets |
6,198 | 5,829 | 6,610 | 7,096 | 5,810 | 6,276 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
42,136 | 42,239 | 41,429 | 41,848 | 41,986 | 42,640 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
23,703 | 23,577 | 24,185 | 24,191 | 23,586 | 23,253 | ||||||||||||||||||
| Marketable debt securities ** |
3,411 | 2,396 | 2,375 | 2,329 | 2,248 | 3,811 | ||||||||||||||||||
| Subordinated debt ** |
0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
| Insurance liabilities |
88 | 87 | 88 | 75 | 80 | 80 | ||||||||||||||||||
| Due to credit institutions ** |
12,203 | 13,336 | 11,880 | 12,319 | 12,915 | 12,271 | ||||||||||||||||||
| Other liabilities |
180 | 296 | 358 | 356 | 501 | 641 | ||||||||||||||||||
| Shareholders’ equity *** |
2,550 | 2,547 | 2,544 | 2,579 | 2,656 | 2,583 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
2,316 | 2,158 | 2,043 | 2,041 | 2,227 | 2,396 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
1,437 | 1,281 | 1,141 | 1,050 | 1,185 | 1,311 | ||||||||||||||||||
| Pension funds |
780 | 768 | 776 | 848 | 862 | 864 | ||||||||||||||||||
| Managed portfolios |
99 | 109 | 126 | 142 | 179 | 222 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
29,430 | 28,131 | 28,603 | 28,560 | 28,061 | 29,460 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
6.88 | 7.41 | 7.86 | 8.12 | 8.26 | 8.16 | ||||||||||||||||||
| NPL coverage |
52.9 | 52.4 | 51.9 | 50.0 | 50.6 | 53.1 | ||||||||||||||||||
| Cost of credit |
1.18 | 1.10 | 0.93 | 0.73 | 0.63 | 0.55 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
1.22 | 1.26 | 1.38 | 1.43 | 1.51 | 1.55 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
2.44 | 2.44 | 2.44 | 2.42 | 2.44 | 2.39 | ||||||||||||||||||
| Deposit spreads |
(1.22 | ) | (1.18 | ) | (1.06 | ) | (0.99 | ) | (0.93 | ) | (0.84 | ) | ||||||||||||
Poland
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
425 | 371 | 54 | 14.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
220 | 198 | 23 | 11.4 | ||||||||||||
| Gains (losses) on financial transactions |
18 | 64 | (46 | ) | (71.7 | ) | ||||||||||
| Other operating income * |
24 | 19 | 5 | 25.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
687 | 651 | 36 | 5.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(294 | ) | (297 | ) | 3 | (1.1 | ) | |||||||||
| General administrative expenses |
(270 | ) | (270 | ) | (1 | ) | 0.3 | |||||||||
| Personnel |
(153 | ) | (159 | ) | 6 | (3.7 | ) | |||||||||
| Other general administrative expenses |
(117 | ) | (110 | ) | (7 | ) | 6.1 | |||||||||
| Depreciation and amortisation |
(24 | ) | (28 | ) | 4 | (14.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
393 | 354 | 39 | 11.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(85 | ) | (93 | ) | 8 | (9.1 | ) | |||||||||
| Other income |
(19 | ) | 1 | (19 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
289 | 261 | 28 | 10.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(54 | ) | (48 | ) | (6 | ) | 12.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
235 | 213 | 22 | 10.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
235 | 213 | 22 | 10.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
63 | 52 | 11 | 20.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
173 | 161 | 11 | 7.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
17,064 | 15,983 | 1,081 | 6.8 | ||||||||||||
| Trading portfolio (w/o loans) |
799 | 658 | 141 | 21.4 | ||||||||||||
| Available-for-sale financial assets |
4,214 | 4,596 | (382 | ) | (8.3 | ) | ||||||||||
| Due from credit institutions ** |
607 | 421 | 186 | 44.1 | ||||||||||||
| Intangible assets and property and equipment |
214 | 223 | (9 | ) | (4.0 | ) | ||||||||||
| Other assets |
2,570 | 1,252 | 1,318 | 105.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
25,467 | 23,133 | 2,334 | 10.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
18,325 | 16,591 | 1,734 | 10.4 | ||||||||||||
| Marketable debt securities ** |
120 | — | 120 | — | ||||||||||||
| Subordinated debt ** |
336 | 331 | 5 | 1.6 | ||||||||||||
| Insurance liabilities |
79 | — | 79 | — | ||||||||||||
| Due to credit institutions ** |
1,562 | 1,712 | (150 | ) | (8.8 | ) | ||||||||||
| Other liabilities |
3,111 | 2,708 | 403 | 14.9 | ||||||||||||
| Shareholders’ equity *** |
1,933 | 1,791 | 143 | 8.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
3,647 | 3,396 | 251 | 7.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
3,556 | 3,294 | 262 | 8.0 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
91 | 102 | (12 | ) | (11.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
22,429 | 20,319 | 2,110 | 10.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
17.32 | 16.78 | 0.54 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
42.8 | 45.7 | (2.8 p. | ) | ||||||||||||
| NPL ratio |
7.42 | 8.08 | (0.66 p. | ) | ||||||||||||
| NPL coverage |
65.3 | 59.3 | 6.0 p. | |||||||||||||
| Number of employees |
12,058 | 12,504 | (446 | ) | (3.6 | ) | ||||||||||
| Number of branches |
817 | 876 | (59 | ) | (6.7 | ) | ||||||||||
Poland
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
180 | 191 | 203 | 206 | 208 | 217 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
98 | 100 | 99 | 104 | 109 | 111 | ||||||||||||||||||
| Gains (losses) on financial transactions |
35 | 29 | 39 | 15 | 11 | 7 | ||||||||||||||||||
| Other operating income * |
2 | 17 | 1 | (1 | ) | 6 | 18 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
315 | 337 | 342 | 323 | 334 | 353 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(156 | ) | (142 | ) | (136 | ) | (159 | ) | (147 | ) | (148 | ) | ||||||||||||
| General administrative expenses |
(142 | ) | (128 | ) | (123 | ) | (146 | ) | (135 | ) | (136 | ) | ||||||||||||
| Personnel |
(83 | ) | (76 | ) | (74 | ) | (79 | ) | (77 | ) | (76 | ) | ||||||||||||
| Other general administrative expenses |
(59 | ) | (52 | ) | (50 | ) | (67 | ) | (58 | ) | (59 | ) | ||||||||||||
| Depreciation and amortisation |
(14 | ) | (14 | ) | (13 | ) | (13 | ) | (12 | ) | (12 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
159 | 195 | 206 | 165 | 188 | 205 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(42 | ) | (51 | ) | (35 | ) | (39 | ) | (43 | ) | (42 | ) | ||||||||||||
| Other income |
(5 | ) | 6 | (2 | ) | (4 | ) | (3 | ) | (16 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
112 | 149 | 169 | 121 | 142 | 147 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(22 | ) | (27 | ) | (34 | ) | (25 | ) | (27 | ) | (28 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
90 | 123 | 135 | 96 | 115 | 120 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
90 | 123 | 135 | 96 | 115 | 120 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
20 | 32 | 35 | 24 | 31 | 32 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
70 | 91 | 100 | 72 | 85 | 88 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
16,188 | 15,983 | 16,298 | 16,214 | 16,728 | 17,064 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
665 | 658 | 561 | 532 | 809 | 799 | ||||||||||||||||||
| Available-for-sale financial assets |
5,150 | 4,596 | 4,861 | 5,325 | 5,127 | 4,214 | ||||||||||||||||||
| Due from credit institutions ** |
352 | 421 | 821 | 667 | 1,256 | 607 | ||||||||||||||||||
| Intangible assets and property and equipment |
242 | 223 | 220 | 273 | 223 | 214 | ||||||||||||||||||
| Other assets |
1,938 | 1,252 | 2,046 | 2,095 | 2,286 | 2,570 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
24,535 | 23,133 | 24,805 | 25,106 | 26,428 | 25,467 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
17,794 | 16,591 | 17,404 | 18,503 | 18,803 | 18,325 | ||||||||||||||||||
| Marketable debt securities ** |
— | — | — | 121 | 121 | 120 | ||||||||||||||||||
| Subordinated debt ** |
335 | 331 | 333 | 333 | 335 | 336 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | 84 | 81 | 79 | ||||||||||||||||||
| Due to credit institutions ** |
1,578 | 1,712 | 2,577 | 1,206 | 2,217 | 1,562 | ||||||||||||||||||
| Other liabilities |
2,839 | 2,708 | 2,654 | 2,984 | 2,772 | 3,111 | ||||||||||||||||||
| Shareholders’ equity *** |
1,989 | 1,791 | 1,837 | 1,875 | 2,099 | 1,933 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
3,468 | 3,396 | 3,540 | 3,631 | 3,555 | 3,647 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
3,342 | 3,294 | 3,431 | 3,525 | 3,455 | 3,556 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
126 | 102 | 109 | 106 | 101 | 91 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
21,597 | 20,319 | 21,277 | 22,588 | 22,815 | 22,429 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
7.39 | 8.08 | 7.75 | 7.84 | 7.35 | 7.42 | ||||||||||||||||||
| NPL coverage |
67.6 | 59.3 | 64.1 | 61.8 | 64.6 | 65.3 | ||||||||||||||||||
| Cost of credit |
1.22 | 1.18 | 1.09 | 1.01 | 0.98 | 0.92 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
3.14 | 3.17 | 3.16 | 3.51 | 3.63 | 3.69 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
2.41 | 2.45 | 2.43 | 2.53 | 2.51 | 2.47 | ||||||||||||||||||
| Deposit spreads |
0.73 | 0.72 | 0.73 | 0.98 | 1.12 | 1.22 | ||||||||||||||||||
Poland
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
425 | 371 | 54 | 14.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
220 | 198 | 23 | 11.4 | ||||||||||||
| Gains (losses) on financial transactions |
18 | 64 | (46 | ) | (71.7 | ) | ||||||||||
| Other operating income * |
24 | 19 | 5 | 25.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
687 | 652 | 36 | 5.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(294 | ) | (297 | ) | 3 | (1.1 | ) | |||||||||
| General administrative expenses |
(270 | ) | (270 | ) | (1 | ) | 0.3 | |||||||||
| Personnel |
(153 | ) | (159 | ) | 6 | (3.7 | ) | |||||||||
| Other general administrative expenses |
(117 | ) | (110 | ) | (7 | ) | 6.1 | |||||||||
| Depreciation and amortisation |
(24 | ) | (28 | ) | 4 | (14.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
393 | 354 | 39 | 11.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(85 | ) | (93 | ) | 8 | (9.1 | ) | |||||||||
| Other income |
(19 | ) | 1 | (19 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
289 | 261 | 28 | 10.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(54 | ) | (48 | ) | (6 | ) | 12.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
235 | 213 | 22 | 10.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
235 | 213 | 22 | 10.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
63 | 52 | 11 | 20.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
173 | 161 | 11 | 7.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
17,064 | 16,678 | 386 | 2.3 | ||||||||||||
| Trading portfolio (w/o loans) |
799 | 686 | 112 | 16.3 | ||||||||||||
| Available-for-sale financial assets |
4,214 | 4,796 | (582 | ) | (12.1 | ) | ||||||||||
| Due from credit institutions ** |
607 | 440 | 167 | 38.0 | ||||||||||||
| Intangible assets and property and equipment |
214 | 233 | (19 | ) | (8.0 | ) | ||||||||||
| Other assets |
2,570 | 1,306 | 1,263 | 96.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
25,467 | 24,139 | 1,328 | 5.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
18,325 | 17,313 | 1,012 | 5.8 | ||||||||||||
| Marketable debt securities ** |
120 | — | 120 | — | ||||||||||||
| Subordinated debt ** |
336 | 345 | (9 | ) | (2.7 | ) | ||||||||||
| Insurance liabilities |
79 | — | 79 | — | ||||||||||||
| Due to credit institutions ** |
1,562 | 1,786 | (225 | ) | (12.6 | ) | ||||||||||
| Other liabilities |
3,111 | 2,825 | 286 | 10.1 | ||||||||||||
| Shareholders’ equity *** |
1,933 | 1,869 | 65 | 3.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
3,647 | 3,544 | 103 | 2.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
3,556 | 3,437 | 119 | 3.5 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
91 | 107 | (16 | ) | (15.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
22,429 | 21,203 | 1,226 | 5.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Poland
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
179 | 191 | 207 | 206 | 208 | 217 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
97 | 100 | 100 | 104 | 110 | 111 | ||||||||||||||||||
| Gains (losses) on financial transactions |
35 | 29 | 40 | 15 | 11 | 7 | ||||||||||||||||||
| Other operating income * |
2 | 17 | 1 | (1 | ) | 6 | 18 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
313 | 338 | 348 | 324 | 335 | 352 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(155 | ) | (142 | ) | (139 | ) | (159 | ) | (147 | ) | (147 | ) | ||||||||||||
| General administrative expenses |
(141 | ) | (128 | ) | (126 | ) | (146 | ) | (135 | ) | (135 | ) | ||||||||||||
| Personnel |
(83 | ) | (77 | ) | (75 | ) | (79 | ) | (77 | ) | (76 | ) | ||||||||||||
| Other general administrative expenses |
(58 | ) | (52 | ) | (50 | ) | (67 | ) | (58 | ) | (59 | ) | ||||||||||||
| Depreciation and amortisation |
(14 | ) | (14 | ) | (13 | ) | (13 | ) | (12 | ) | (12 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
158 | 196 | 209 | 165 | 188 | 205 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(42 | ) | (52 | ) | (36 | ) | (39 | ) | (43 | ) | (42 | ) | ||||||||||||
| Other income |
(5 | ) | 6 | (2 | ) | (4 | ) | (3 | ) | (16 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
112 | 150 | 172 | 121 | 142 | 147 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(22 | ) | (27 | ) | (34 | ) | (25 | ) | (27 | ) | (28 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
90 | 123 | 138 | 96 | 116 | 120 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
90 | 123 | 138 | 96 | 116 | 120 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
20 | 32 | 36 | 24 | 31 | 32 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
70 | 91 | 102 | 73 | 85 | 88 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
16,280 | 16,678 | 16,580 | 16,205 | 16,789 | 17,064 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
669 | 686 | 570 | 532 | 812 | 799 | ||||||||||||||||||
| Available-for-sale financial assets |
5,179 | 4,796 | 4,945 | 5,322 | 5,145 | 4,214 | ||||||||||||||||||
| Due from credit institutions ** |
354 | 440 | 835 | 666 | 1,260 | 607 | ||||||||||||||||||
| Intangible assets and property and equipment |
244 | 233 | 223 | 273 | 224 | 214 | ||||||||||||||||||
| Other assets |
1,949 | 1,306 | 2,081 | 2,094 | 2,294 | 2,570 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
24,674 | 24,139 | 25,235 | 25,090 | 26,524 | 25,467 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
17,895 | 17,313 | 17,705 | 18,492 | 18,872 | 18,325 | ||||||||||||||||||
| Marketable debt securities ** |
— | — | — | 120 | 122 | 120 | ||||||||||||||||||
| Subordinated debt ** |
337 | 345 | 339 | 333 | 336 | 336 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | 83 | 81 | 79 | ||||||||||||||||||
| Due to credit institutions ** |
1,587 | 1,786 | 2,622 | 1,205 | 2,225 | 1,562 | ||||||||||||||||||
| Other liabilities |
2,855 | 2,825 | 2,700 | 2,983 | 2,782 | 3,111 | ||||||||||||||||||
| Shareholders’ equity *** |
2,000 | 1,869 | 1,869 | 1,874 | 2,107 | 1,933 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
3,487 | 3,544 | 3,601 | 3,629 | 3,568 | 3,647 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
3,361 | 3,437 | 3,491 | 3,523 | 3,467 | 3,556 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
127 | 107 | 110 | 106 | 101 | 91 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
21,720 | 21,203 | 21,645 | 22,574 | 22,898 | 22,429 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Santander Consumer Finance
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,192 | 1,169 | 23 | 2.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
430 | 390 | 41 | 10.5 | ||||||||||||
| Gains (losses) on financial transactions |
1 | (0 | ) | 2 | — | |||||||||||
| Other operating income * |
3 | (7 | ) | 10 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,626 | 1,551 | 75 | 4.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(722 | ) | (692 | ) | (30 | ) | 4.3 | |||||||||
| General administrative expenses |
(612 | ) | (589 | ) | (23 | ) | 4.0 | |||||||||
| Personnel |
(327 | ) | (321 | ) | (6 | ) | 1.9 | |||||||||
| Other general administrative expenses |
(285 | ) | (268 | ) | (17 | ) | 6.5 | |||||||||
| Depreciation and amortisation |
(110 | ) | (104 | ) | (6 | ) | 6.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
904 | 859 | 46 | 5.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(252 | ) | (302 | ) | 50 | (16.5 | ) | |||||||||
| Other income |
(31 | ) | (50 | ) | 19 | (38.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
621 | 507 | 114 | 22.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(151 | ) | (113 | ) | (38 | ) | 34.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
470 | 394 | 76 | 19.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | (0 | ) | 108.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
470 | 394 | 76 | 19.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
14 | 17 | (3 | ) | (19.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
456 | 377 | 79 | 21.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
58,058 | 55,995 | 2,063 | 3.7 | ||||||||||||
| Trading portfolio (w/o loans) |
270 | 925 | (656 | ) | (70.8 | ) | ||||||||||
| Available-for-sale financial assets |
591 | 606 | (15 | ) | (2.5 | ) | ||||||||||
| Due from credit institutions ** |
6,528 | 6,931 | (403 | ) | (5.8 | ) | ||||||||||
| Intangible assets and property and equipment |
795 | 966 | (170 | ) | (17.6 | ) | ||||||||||
| Other assets |
3,073 | 2,596 | 477 | 18.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
69,315 | 68,019 | 1,295 | 1.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
30,736 | 30,986 | (250 | ) | (0.8 | ) | ||||||||||
| Marketable debt securities ** |
13,503 | 7,045 | 6,457 | 91.7 | ||||||||||||
| Subordinated debt ** |
65 | 11 | 54 | 505.4 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
13,772 | 18,668 | (4,896 | ) | (26.2 | ) | ||||||||||
| Other liabilities |
3,378 | 3,695 | (317 | ) | (8.6 | ) | ||||||||||
| Shareholders’ equity *** |
7,861 | 7,614 | 247 | 3.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
7 | 6 | 1 | 9.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
2 | 2 | 0 | 4.4 | ||||||||||||
| Pension funds |
5 | 4 | 1 | 12.0 | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
44,310 | 38,049 | 6,262 | 16.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(**).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (***).- Not including profit of the year
|
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
11.71 | 9.74 | 1.98 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
44.4 | 44.6 | (0.2 p. | ) | ||||||||||||
| NPL ratio |
4.07 | 4.04 | 0.03 p. | |||||||||||||
| NPL coverage |
105.2 | 106.9 | (1.7 p. | ) | ||||||||||||
| Number of employees |
12,272 | 12,230 | 42 | 0.3 | ||||||||||||
| Number of branches |
576 | 624 | (48 | ) | (7.7 | ) | ||||||||||
Santander Consumer Finance
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
587 | 582 | 592 | 573 | 580 | 612 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
192 | 197 | 207 | 190 | 220 | 211 | ||||||||||||||||||
| Gains (losses) on financial transactions |
0 | (1 | ) | 2 | (8 | ) | 0 | 1 | ||||||||||||||||
| Other operating income * |
(3 | ) | (4 | ) | (0 | ) | 5 | (1 | ) | 4 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
776 | 775 | 801 | 759 | 800 | 827 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(351 | ) | (341 | ) | (345 | ) | (353 | ) | (366 | ) | (357 | ) | ||||||||||||
| General administrative expenses |
(300 | ) | (288 | ) | (292 | ) | (291 | ) | (305 | ) | (307 | ) | ||||||||||||
| Personnel |
(161 | ) | (159 | ) | (163 | ) | (162 | ) | (164 | ) | (163 | ) | ||||||||||||
| Other general administrative expenses |
(139 | ) | (129 | ) | (130 | ) | (129 | ) | (141 | ) | (144 | ) | ||||||||||||
| Depreciation and amortisation |
(51 | ) | (53 | ) | (53 | ) | (63 | ) | (60 | ) | (50 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
425 | 434 | 456 | 405 | 434 | 470 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(171 | ) | (131 | ) | (158 | ) | (105 | ) | (130 | ) | (123 | ) | ||||||||||||
| Other income |
(21 | ) | (29 | ) | (15 | ) | (5 | ) | (14 | ) | (17 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
233 | 274 | 283 | 295 | 291 | 330 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(49 | ) | (64 | ) | (66 | ) | (76 | ) | (66 | ) | (85 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
184 | 210 | 217 | 219 | 225 | 245 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (0 | ) | (0 | ) | (6 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
184 | 210 | 217 | 213 | 225 | 245 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
7 | 9 | 9 | 5 | 6 | 7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
176 | 201 | 208 | 209 | 219 | 237 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
56,241 | 55,995 | 55,898 | 56,024 | 57,433 | 58,058 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
1,224 | 925 | 904 | 864 | 878 | 270 | ||||||||||||||||||
| Available-for-sale financial assets |
553 | 606 | 598 | 705 | 478 | 591 | ||||||||||||||||||
| Due from credit institutions ** |
6,796 | 6,931 | 7,426 | 8,158 | 7,245 | 6,528 | ||||||||||||||||||
| Intangible assets and property and equipment |
984 | 966 | 940 | 934 | 913 | 795 | ||||||||||||||||||
| Other assets |
2,704 | 2,596 | 2,386 | 3,723 | 3,165 | 3,073 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
68,501 | 68,019 | 68,152 | 70,409 | 70,112 | 69,315 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
31,496 | 30,986 | 30,726 | 30,878 | 30,611 | 30,736 | ||||||||||||||||||
| Marketable debt securities ** |
6,420 | 7,045 | 8,380 | 10,377 | 11,217 | 13,503 | ||||||||||||||||||
| Subordinated debt ** |
9 | 11 | 10 | 64 | 64 | 65 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
18,839 | 18,668 | 17,627 | 18,060 | 16,598 | 13,772 | ||||||||||||||||||
| Other liabilities |
3,898 | 3,695 | 3,853 | 3,901 | 3,711 | 3,378 | ||||||||||||||||||
| Shareholders’ equity *** |
7,839 | 7,614 | 7,554 | 7,128 | 7,911 | 7,861 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
6 | 6 | 6 | 6 | 7 | 7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
2 | 2 | 2 | 2 | 2 | 2 | ||||||||||||||||||
| Pension funds |
4 | 4 | 4 | 5 | 5 | 5 | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
37,931 | 38,049 | 39,123 | 41,326 | 41,899 | 44,310 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
| |||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
3.98 | 4.04 | 3.96 | 4.01 | 4.14 | 4.07 | ||||||||||||||||||
| NPL coverage |
108.7 | 106.9 | 109.2 | 105.3 | 105.1 | 105.2 | ||||||||||||||||||
| Cost of credit |
1.26 | 1.15 | 1.13 | 0.96 | 0.89 | 0.87 | ||||||||||||||||||
| Loan spreads |
4.76 | 4.83 | 4.93 | 4.91 | 5.04 | 5.03 | ||||||||||||||||||
Spain’s run-off real estate
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
(2 | ) | 39 | (42 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
4 | 11 | (8 | ) | (66.5 | ) | ||||||||||
| Gains (losses) on financial transactions |
0 | 1 | (1 | ) | (91.9 | ) | ||||||||||
| Other operating income * |
(26 | ) | (38 | ) | 12 | (32.5 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
(24 | ) | 14 | (38 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(106 | ) | (89 | ) | (16 | ) | 18.2 | |||||||||
| General administrative expenses |
(100 | ) | (85 | ) | (15 | ) | 17.2 | |||||||||
| Personnel |
(19 | ) | (22 | ) | 2 | (11.3 | ) | |||||||||
| Other general administrative expenses |
(81 | ) | (64 | ) | (17 | ) | 26.8 | |||||||||
| Depreciation and amortisation |
(6 | ) | (4 | ) | (2 | ) | 38.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
(130 | ) | (76 | ) | (54 | ) | 71.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(153 | ) | (163 | ) | 10 | (6.2 | ) | |||||||||
| Other income |
(156 | ) | (243 | ) | 87 | (35.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
(438 | ) | (481 | ) | 43 | (9.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
131 | 144 | (13 | ) | (9.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
(307 | ) | (337 | ) | 30 | (9.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
(307 | ) | (337 | ) | 30 | (9.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
(307 | ) | (337 | ) | 30 | (9.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
4,876 | 6,507 | (1,631 | ) | (25.1 | ) | ||||||||||
| Trading portfolio (w/o loans) |
— | — | — | — | ||||||||||||
| Available-for-sale financial assets |
207 | 207 | — | — | ||||||||||||
| Due from credit institutions ** |
— | — | — | — | ||||||||||||
| Intangible assets and property and equipment |
— | — | — | — | ||||||||||||
| Other assets |
4,735 | 4,866 | (131 | ) | (2.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
9,818 | 11,580 | (1,762 | ) | (15.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
195 | 199 | (3 | ) | (1.7 | ) | ||||||||||
| Marketable debt securities ** |
0 | 4 | (4 | ) | (98.7 | ) | ||||||||||
| Subordinated debt ** |
— | — | — | — | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
0 | 0 | 0 | 166.7 | ||||||||||||
| Other liabilities |
8,361 | 9,864 | (1,503 | ) | (15.2 | ) | ||||||||||
| Shareholders’ equity *** |
1,262 | 1,513 | (252 | ) | (16.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
145 | 159 | (14 | ) | (8.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
144 | 158 | (14 | ) | (9.0 | ) | ||||||||||
| Pension funds |
1 | 0 | 0 | 97.4 | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
340 | 361 | (21 | ) | (5.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Spain’s run-off real estate
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
27 | 12 | (3 | ) | 1 | 3 | (5 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
9 | 2 | 3 | 1 | 2 | 2 | ||||||||||||||||||
| Gains (losses) on financial transactions |
1 | (0 | ) | (0 | ) | 0 | 0 | 0 | ||||||||||||||||
| Other operating income * |
(16 | ) | (23 | ) | (8 | ) | (2 | ) | (13 | ) | (13 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
22 | (8 | ) | (8 | ) | 1 | (8 | ) | (16 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(40 | ) | (49 | ) | (41 | ) | (44 | ) | (52 | ) | (54 | ) | ||||||||||||
| General administrative expenses |
(38 | ) | (47 | ) | (39 | ) | (38 | ) | (49 | ) | (51 | ) | ||||||||||||
| Personnel |
(11 | ) | (10 | ) | (11 | ) | (15 | ) | (10 | ) | (9 | ) | ||||||||||||
| Other general administrative expenses |
(26 | ) | (37 | ) | (28 | ) | (23 | ) | (39 | ) | (42 | ) | ||||||||||||
| Depreciation and amortisation |
(2 | ) | (2 | ) | (2 | ) | (7 | ) | (3 | ) | (3 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
(19 | ) | (57 | ) | (50 | ) | (44 | ) | (59 | ) | (70 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(114 | ) | (49 | ) | (67 | ) | (32 | ) | (77 | ) | (76 | ) | ||||||||||||
| Other income |
(118 | ) | (125 | ) | (106 | ) | (128 | ) | (72 | ) | (83 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
(250 | ) | (231 | ) | (222 | ) | (204 | ) | (208 | ) | (230 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
75 | 69 | 67 | 61 | 62 | 69 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
(175 | ) | (162 | ) | (156 | ) | (143 | ) | (146 | ) | (161 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
(175 | ) | (162 | ) | (156 | ) | (143 | ) | (146 | ) | (161 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
(175 | ) | (162 | ) | (156 | ) | (143 | ) | (146 | ) | (161 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
6,844 | 6,507 | 6,246 | 5,735 | 5,208 | 4,876 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
— | — | — | — | — | — | ||||||||||||||||||
| Available-for-sale financial assets |
207 | 207 | 207 | 207 | 207 | 207 | ||||||||||||||||||
| Due from credit institutions ** |
— | — | — | — | — | — | ||||||||||||||||||
| Intangible assets and property and equipment |
— | — | — | — | — | — | ||||||||||||||||||
| Other assets |
4,885 | 4,866 | 4,966 | 4,839 | 4,857 | 4,735 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
11,936 | 11,580 | 11,420 | 10,781 | 10,273 | 9,818 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
225 | 199 | 217 | 210 | 204 | 195 | ||||||||||||||||||
| Marketable debt securities ** |
6 | 4 | 2 | 2 | 1 | 0 | ||||||||||||||||||
| Subordinated debt ** |
— | — | — | — | — | — | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
0 | 0 | 0 | 200 | 0 | 0 | ||||||||||||||||||
| Other liabilities |
10,150 | 9,864 | 9,743 | 8,979 | 8,786 | 8,361 | ||||||||||||||||||
| Shareholders’ equity *** |
1,555 | 1,513 | 1,457 | 1,390 | 1,282 | 1,262 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
161 | 159 | 154 | 153 | 145 | 145 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
160 | 158 | 153 | 152 | 144 | 144 | ||||||||||||||||||
| Pension funds |
1 | 0 | 1 | 1 | 1 | 1 | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
392 | 361 | 373 | 365 | 350 | 340 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
United Kingdom
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,024 | 1,612 | 412 | 25.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
494 | 506 | (11 | ) | (2.2 | ) | ||||||||||
| Gains (losses) on financial transactions |
147 | 247 | (99 | ) | (40.2 | ) | ||||||||||
| Other operating income * |
19 | 12 | 7 | 54.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,685 | 2,377 | 308 | 12.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,395 | ) | (1,325 | ) | (69 | ) | 5.2 | |||||||||
| General administrative expenses |
(1,175 | ) | (1,131 | ) | (43 | ) | 3.8 | |||||||||
| Personnel |
(767 | ) | (707 | ) | (60 | ) | 8.5 | |||||||||
| Other general administrative expenses |
(408 | ) | (425 | ) | 17 | (3.9 | ) | |||||||||
| Depreciation and amortisation |
(220 | ) | (194 | ) | (26 | ) | 13.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,290 | 1,051 | 238 | 22.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(207 | ) | (281 | ) | 74 | (26.3 | ) | |||||||||
| Other income |
(109 | ) | (144 | ) | 35 | (24.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
973 | 626 | 347 | 55.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(198 | ) | (125 | ) | (73 | ) | 58.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
775 | 501 | 274 | 54.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (14 | ) | 14 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
775 | 487 | 288 | 59.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
775 | 487 | 288 | 59.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
239,237 | 238,223 | 1,015 | 0.4 | ||||||||||||
| Trading portfolio (w/o loans) |
31,814 | 34,501 | (2,687 | ) | (7.8 | ) | ||||||||||
| Available-for-sale financial assets |
9,675 | 6,041 | 3,635 | 60.2 | ||||||||||||
| Due from credit institutions ** |
14,391 | 16,081 | (1,690 | ) | (10.5 | ) | ||||||||||
| Intangible assets and property and equipment |
2,347 | 2,379 | (31 | ) | (1.3 | ) | ||||||||||
| Other assets |
39,704 | 49,670 | (9,966 | ) | (20.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
337,169 | 346,894 | (9,725 | ) | (2.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
193,431 | 195,995 | (2,564 | ) | (1.3 | ) | ||||||||||
| Marketable debt securities ** |
65,816 | 66,940 | (1,124 | ) | (1.7 | ) | ||||||||||
| Subordinated debt ** |
5,931 | 5,197 | 734 | 14.1 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
27,320 | 28,207 | (886 | ) | (3.1 | ) | ||||||||||
| Other liabilities |
30,517 | 37,458 | (6,941 | ) | (18.5 | ) | ||||||||||
| Shareholders’ equity *** |
14,153 | 13,097 | 1,056 | 8.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
9,885 | 10,687 | (802 | ) | (7.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
9,740 | 10,687 | (947 | ) | (8.9 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
145 | — | 145 | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
275,063 | 278,820 | (3,756 | ) | (1.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
11.14 | 7.42 | 3.72 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
52.0 | 55.8 | (3.8 p. | ) | ||||||||||||
| NPL ratio |
1.91 | 2.01 | (0.10 p. | ) | ||||||||||||
| NPL coverage |
41.1 | 42.1 | (1.0 p. | ) | ||||||||||||
| Number of employees |
25,902 | 25,647 | 255 | 1.0 | ||||||||||||
| Number of branches |
1,071 | 1,190 | (119 | ) | (10.0 | ) | ||||||||||
United Kingdom
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
803 | 809 | 877 | 962 | 989 | 1,035 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
249 | 256 | 243 | 244 | 247 | 247 | ||||||||||||||||||
| Gains (losses) on financial transactions |
86 | 161 | 71 | 85 | 78 | 69 | ||||||||||||||||||
| Other operating income * |
6 | 7 | 6 | 18 | 15 | 4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,144 | 1,233 | 1,197 | 1,308 | 1,329 | 1,356 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(658 | ) | (667 | ) | (630 | ) | (650 | ) | (693 | ) | (701 | ) | ||||||||||||
| General administrative expenses |
(560 | ) | (571 | ) | (529 | ) | (520 | ) | (579 | ) | (596 | ) | ||||||||||||
| Personnel |
(354 | ) | (352 | ) | (327 | ) | (368 | ) | (380 | ) | (387 | ) | ||||||||||||
| Other general administrative expenses |
(206 | ) | (219 | ) | (202 | ) | (153 | ) | (200 | ) | (209 | ) | ||||||||||||
| Depreciation and amortisation |
(98 | ) | (96 | ) | (100 | ) | (130 | ) | (114 | ) | (106 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
486 | 566 | 567 | 657 | 635 | 654 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(160 | ) | (121 | ) | (154 | ) | (145 | ) | (120 | ) | (87 | ) | ||||||||||||
| Other income |
(42 | ) | (103 | ) | (25 | ) | (66 | ) | (46 | ) | (63 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
284 | 342 | 387 | 447 | 469 | 504 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(60 | ) | (65 | ) | (81 | ) | (95 | ) | (93 | ) | (105 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
224 | 277 | 306 | 352 | 376 | 399 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | 5 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
224 | 263 | 306 | 357 | 376 | 399 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | — | 0 | (0 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
224 | 263 | 306 | 357 | 376 | 399 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
242,425 | 238,223 | 237,138 | 231,046 | 233,937 | 239,237 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
37,669 | 34,501 | 35,645 | 28,831 | 31,492 | 31,814 | ||||||||||||||||||
| Available-for-sale financial assets |
6,400 | 6,041 | 5,387 | 6,003 | 8,358 | 9,675 | ||||||||||||||||||
| Due from credit institutions ** |
21,002 | 16,081 | 23,814 | 17,136 | 17,772 | 14,391 | ||||||||||||||||||
| Intangible assets and property and equipment |
2,445 | 2,379 | 2,406 | 2,498 | 2,510 | 2,347 | ||||||||||||||||||
| Other assets |
44,836 | 49,670 | 47,379 | 38,229 | 44,325 | 39,704 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
354,778 | 346,894 | 351,771 | 323,743 | 338,393 | 337,169 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
194,378 | 195,995 | 197,252 | 187,467 | 194,923 | 193,431 | ||||||||||||||||||
| Marketable debt securities ** |
69,625 | 66,940 | 67,086 | 64,092 | 66,366 | 65,816 | ||||||||||||||||||
| Subordinated debt ** |
5,369 | 5,197 | 4,640 | 5,805 | 5,814 | 5,931 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
28,579 | 28,207 | 32,434 | 26,882 | 29,008 | 27,320 | ||||||||||||||||||
| Other liabilities |
43,596 | 37,458 | 37,221 | 26,855 | 28,164 | 30,517 | ||||||||||||||||||
| Shareholders’ equity *** |
13,231 | 13,097 | 13,138 | 12,642 | 14,118 | 14,153 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
12,638 | 10,687 | 9,572 | 9,645 | 9,630 | 9,885 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
12,638 | 10,687 | 9,572 | 9,645 | 9,490 | 9,740 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | 140 | 145 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
282,009 | 278,820 | 278,550 | 267,010 | 276,734 | 275,063 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
|
|||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
2.03 | 2.01 | 1.98 | 1.98 | 1.88 | 1.91 | ||||||||||||||||||
| NPL coverage |
42.1 | 42.1 | 41.6 | 41.6 | 42.9 | 41.1 | ||||||||||||||||||
| Cost of credit |
0.29 | 0.26 | 0.26 | 0.24 | 0.23 | 0.22 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
1.53 | 1.63 | 1.85 | 1.98 | 2.01 | 2.06 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
2.78 | 2.80 | 2.85 | 2.84 | 2.83 | 2.76 | ||||||||||||||||||
| Deposit spreads |
(1.25 | ) | (1.17 | ) | (1.00 | ) | (0.86 | ) | (0.82 | ) | (0.70 | ) | ||||||||||||
United Kingdom
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,024 | 1,670 | 354 | 21.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
494 | 524 | (29 | ) | (5.6 | ) | ||||||||||
| Gains (losses) on financial transactions |
147 | 255 | (108 | ) | (42.3 | ) | ||||||||||
| Other operating income * |
19 | 13 | 6 | 49.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,685 | 2,462 | 223 | 9.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,395 | ) | (1,373 | ) | (22 | ) | 1.6 | |||||||||
| General administrative expenses |
(1,175 | ) | (1,172 | ) | (3 | ) | 0.3 | |||||||||
| Personnel |
(767 | ) | (732 | ) | (35 | ) | 4.7 | |||||||||
| Other general administrative expenses |
(408 | ) | (440 | ) | 32 | (7.2 | ) | |||||||||
| Depreciation and amortisation |
(220 | ) | (201 | ) | (19 | ) | 9.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,290 | 1,089 | 201 | 18.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(207 | ) | (291 | ) | 84 | (28.8 | ) | |||||||||
| Other income |
(109 | ) | (150 | ) | 40 | (26.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
973 | 648 | 325 | 50.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(198 | ) | (129 | ) | (69 | ) | 53.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
775 | 519 | 256 | 49.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (14 | ) | 14 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
775 | 505 | 270 | 53.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
775 | 505 | 270 | 53.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
239,237 | 254,778 | (15,540 | ) | (6.1 | ) | ||||||||||
| Trading portfolio (w/o loans) |
31,814 | 36,899 | (5,085 | ) | (13.8 | ) | ||||||||||
| Available-for-sale financial assets |
9,675 | 6,460 | 3,215 | 49.8 | ||||||||||||
| Due from credit institutions ** |
14,391 | 17,198 | (2,807 | ) | (16.3 | ) | ||||||||||
| Intangible assets and property and equipment |
2,347 | 2,544 | (197 | ) | (7.7 | ) | ||||||||||
| Other assets |
39,704 | 53,122 | (13,418 | ) | (25.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
337,169 | 371,001 | (33,832 | ) | (9.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
193,431 | 209,616 | (16,185 | ) | (7.7 | ) | ||||||||||
| Marketable debt securities ** |
65,816 | 71,592 | (5,776 | ) | (8.1 | ) | ||||||||||
| Subordinated debt ** |
5,931 | 5,558 | 373 | 6.7 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
27,320 | 30,167 | (2,847 | ) | (9.4 | ) | ||||||||||
| Other liabilities |
30,517 | 40,061 | (9,544 | ) | (23.8 | ) | ||||||||||
| Shareholders’ equity *** |
14,153 | 14,007 | 146 | 1.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
9,885 | 11,430 | (1,544 | ) | (13.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
9,740 | 11,430 | (1,689 | ) | (14.8 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
145 | — | 145 | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
275,063 | 298,196 | (23,133 | ) | (7.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
United Kingdom
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
832 | 838 | 912 | 985 | 997 | 1,027 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
258 | 265 | 253 | 249 | 249 | 245 | ||||||||||||||||||
| Gains (losses) on financial transactions |
89 | 167 | 75 | 86 | 79 | 69 | ||||||||||||||||||
| Other operating income * |
6 | 7 | 6 | 18 | 15 | 4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,185 | 1,277 | 1,245 | 1,339 | 1,339 | 1,345 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(682 | ) | (691 | ) | (655 | ) | (666 | ) | (699 | ) | (696 | ) | ||||||||||||
| General administrative expenses |
(580 | ) | (592 | ) | (551 | ) | (532 | ) | (584 | ) | (591 | ) | ||||||||||||
| Personnel |
(367 | ) | (365 | ) | (340 | ) | (377 | ) | (383 | ) | (384 | ) | ||||||||||||
| Other general administrative expenses |
(213 | ) | (227 | ) | (211 | ) | (155 | ) | (201 | ) | (207 | ) | ||||||||||||
| Depreciation and amortisation |
(102 | ) | (99 | ) | (105 | ) | (133 | ) | (115 | ) | (105 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
503 | 586 | 590 | 674 | 641 | 649 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(166 | ) | (125 | ) | (161 | ) | (148 | ) | (121 | ) | (86 | ) | ||||||||||||
| Other income |
(43 | ) | (106 | ) | (27 | ) | (67 | ) | (47 | ) | (62 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
294 | 354 | 402 | 459 | 473 | 501 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(62 | ) | (68 | ) | (84 | ) | (98 | ) | (94 | ) | (104 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
232 | 287 | 318 | 361 | 379 | 396 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | 5 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
232 | 272 | 318 | 366 | 379 | 396 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | (0 | ) | 0 | (0 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
232 | 272 | 318 | 366 | 379 | 396 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
255,763 | 254,778 | 247,361 | 240,328 | 241,730 | 239,237 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
39,742 | 36,899 | 37,182 | 29,990 | 32,541 | 31,814 | ||||||||||||||||||
| Available-for-sale financial assets |
6,753 | 6,460 | 5,620 | 6,245 | 8,637 | 9,675 | ||||||||||||||||||
| Due from credit institutions ** |
22,158 | 17,198 | 24,840 | 17,824 | 18,364 | 14,391 | ||||||||||||||||||
| Intangible assets and property and equipment |
2,580 | 2,544 | 2,510 | 2,598 | 2,593 | 2,347 | ||||||||||||||||||
| Other assets |
47,303 | 53,122 | 49,422 | 39,765 | 45,801 | 39,704 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
374,298 | 371,001 | 366,934 | 336,749 | 349,666 | 337,169 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
205,073 | 209,616 | 205,755 | 194,998 | 201,417 | 193,431 | ||||||||||||||||||
| Marketable debt securities ** |
73,456 | 71,592 | 69,978 | 66,667 | 68,577 | 65,816 | ||||||||||||||||||
| Subordinated debt ** |
5,664 | 5,558 | 4,840 | 6,038 | 6,008 | 5,931 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
30,151 | 30,167 | 33,832 | 27,962 | 29,974 | 27,320 | ||||||||||||||||||
| Other liabilities |
45,995 | 40,061 | 38,826 | 27,934 | 29,102 | 30,517 | ||||||||||||||||||
| Shareholders’ equity *** |
13,959 | 14,007 | 13,704 | 13,150 | 14,588 | 14,153 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
13,333 | 11,430 | 9,985 | 10,033 | 9,951 | 9,885 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
13,333 | 11,430 | 9,985 | 10,033 | 9,806 | 9,740 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | 145 | 145 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
297,526 | 298,196 | 290,557 | 277,737 | 285,953 | 275,063 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
United Kingdom
£ million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,662 | 1,371 | 291 | 21.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
406 | 430 | (24 | ) | (5.6 | ) | ||||||||||
| Gains (losses) on financial transactions |
121 | 210 | (89 | ) | (42.3 | ) | ||||||||||
| Other operating income * |
15 | 10 | 5 | 49.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,205 | 2,022 | 183 | 9.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,145 | ) | (1,127 | ) | (18 | ) | 1.6 | |||||||||
| General administrative expenses |
(965 | ) | (962 | ) | (2 | ) | 0.3 | |||||||||
| Personnel |
(630 | ) | (601 | ) | (29 | ) | 4.7 | |||||||||
| Other general administrative expenses |
(335 | ) | (361 | ) | 26 | (7.2 | ) | |||||||||
| Depreciation and amortisation |
(181 | ) | (165 | ) | (16 | ) | 9.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,059 | 894 | 165 | 18.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(170 | ) | (239 | ) | 69 | (28.8 | ) | |||||||||
| Other income |
(90 | ) | (123 | ) | 33 | (26.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
799 | 532 | 267 | 50.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(163 | ) | (106 | ) | (57 | ) | 53.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
636 | 426 | 210 | 49.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (12 | ) | 12 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
636 | 414 | 222 | 53.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
636 | 414 | 222 | 53.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
191,749 | 204,204 | (12,456 | ) | (6.1 | ) | ||||||||||
| Trading portfolio (w/o loans) |
25,499 | 29,574 | (4,076 | ) | (13.8 | ) | ||||||||||
| Available-for-sale financial assets |
7,755 | 5,178 | 2,577 | 49.8 | ||||||||||||
| Due from credit institutions ** |
11,534 | 13,784 | (2,250 | ) | (16.3 | ) | ||||||||||
| Intangible assets and property and equipment |
1,881 | 2,039 | (158 | ) | (7.7 | ) | ||||||||||
| Other assets |
31,823 | 42,577 | (10,754 | ) | (25.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
270,241 | 297,358 | (27,117 | ) | (9.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
155,035 | 168,007 | (12,972 | ) | (7.7 | ) | ||||||||||
| Marketable debt securities ** |
52,751 | 57,381 | (4,630 | ) | (8.1 | ) | ||||||||||
| Subordinated debt ** |
4,754 | 4,455 | 299 | 6.7 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
21,897 | 24,179 | (2,282 | ) | (9.4 | ) | ||||||||||
| Other liabilities |
24,460 | 32,109 | (7,649 | ) | (23.8 | ) | ||||||||||
| Shareholders’ equity *** |
11,344 | 11,227 | 117 | 1.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
7,923 | 9,161 | (1,238 | ) | (13.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
7,807 | 9,161 | (1,354 | ) | (14.8 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
116 | — | 116 | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
220,463 | 239,004 | (18,541 | ) | (7.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
United Kingdom
£ million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
683 | 688 | 749 | 809 | 819 | 844 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
212 | 218 | 208 | 205 | 205 | 201 | ||||||||||||||||||
| Gains (losses) on financial transactions |
73 | 137 | 61 | 71 | 65 | 56 | ||||||||||||||||||
| Other operating income * |
5 | 6 | 5 | 15 | 12 | 3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
973 | 1,048 | 1,022 | 1,100 | 1,100 | 1,105 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(560 | ) | (567 | ) | (538 | ) | (547 | ) | (574 | ) | (571 | ) | ||||||||||||
| General administrative expenses |
(476 | ) | (486 | ) | (452 | ) | (437 | ) | (479 | ) | (485 | ) | ||||||||||||
| Personnel |
(301 | ) | (300 | ) | (279 | ) | (309 | ) | (314 | ) | (315 | ) | ||||||||||||
| Other general administrative expenses |
(175 | ) | (186 | ) | (173 | ) | (128 | ) | (165 | ) | (170 | ) | ||||||||||||
| Depreciation and amortisation |
(83 | ) | (81 | ) | (86 | ) | (110 | ) | (95 | ) | (86 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
413 | 481 | 484 | 553 | 526 | 533 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(137 | ) | (103 | ) | (132 | ) | (121 | ) | (99 | ) | (71 | ) | ||||||||||||
| Other income |
(35 | ) | (87 | ) | (22 | ) | (55 | ) | (38 | ) | (51 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
241 | 291 | 330 | 377 | 388 | 411 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(51 | ) | (56 | ) | (69 | ) | (80 | ) | (77 | ) | (86 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
191 | 235 | 261 | 296 | 311 | 325 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (12 | ) | (0 | ) | 4 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
191 | 224 | 261 | 301 | 311 | 325 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | (0 | ) | 0 | (0 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
191 | 224 | 261 | 301 | 311 | 325 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
204,994 | 204,204 | 198,260 | 192,623 | 193,746 | 191,749 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
31,853 | 29,574 | 29,801 | 24,037 | 26,082 | 25,499 | ||||||||||||||||||
| Available-for-sale financial assets |
5,412 | 5,178 | 4,504 | 5,005 | 6,922 | 7,755 | ||||||||||||||||||
| Due from credit institutions ** |
17,759 | 13,784 | 19,910 | 14,286 | 14,718 | 11,534 | ||||||||||||||||||
| Intangible assets and property and equipment |
2,068 | 2,039 | 2,012 | 2,082 | 2,078 | 1,881 | ||||||||||||||||||
| Other assets |
37,913 | 42,577 | 39,611 | 31,871 | 36,710 | 31,823 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
300,000 | 297,358 | 294,098 | 269,904 | 280,257 | 270,241 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
164,366 | 168,007 | 164,913 | 156,291 | 161,436 | 155,035 | ||||||||||||||||||
| Marketable debt securities ** |
58,875 | 57,381 | 56,087 | 53,434 | 54,964 | 52,751 | ||||||||||||||||||
| Subordinated debt ** |
4,540 | 4,455 | 3,879 | 4,840 | 4,815 | 4,754 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
24,166 | 24,179 | 27,116 | 22,412 | 24,024 | 21,897 | ||||||||||||||||||
| Other liabilities |
36,865 | 32,109 | 31,119 | 22,389 | 23,325 | 24,460 | ||||||||||||||||||
| Shareholders’ equity *** |
11,188 | 11,227 | 10,984 | 10,539 | 11,692 | 11,344 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
10,686 | 9,161 | 8,003 | 8,041 | 7,976 | 7,923 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
10,686 | 9,161 | 8,003 | 8,041 | 7,859 | 7,807 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | 116 | 116 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
238,467 | 239,004 | 232,882 | 222,606 | 229,191 | 220,463 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Latin America
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
6,842 | 7,919 | (1,076 | ) | (13.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
2,148 | 2,451 | (303 | ) | (12.4 | ) | ||||||||||
| Gains (losses) on financial transactions |
241 | 549 | (308 | ) | (56.1 | ) | ||||||||||
| Other operating income * |
39 | 30 | 9 | 29.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
9,270 | 10,949 | (1,679 | ) | (15.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,831 | ) | (4,300 | ) | 469 | (10.9 | ) | |||||||||
| General administrative expenses |
(3,446 | ) | (3,835 | ) | 388 | (10.1 | ) | |||||||||
| Personnel |
(1,924 | ) | (2,158 | ) | 234 | (10.9 | ) | |||||||||
| Other general administrative expenses |
(1,522 | ) | (1,676 | ) | 154 | (9.2 | ) | |||||||||
| Depreciation and amortisation |
(384 | ) | (465 | ) | 80 | (17.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
5,440 | 6,649 | (1,210 | ) | (18.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(2,520 | ) | (3,539 | ) | 1,019 | (28.8 | ) | |||||||||
| Other income |
(340 | ) | (206 | ) | (134 | ) | 65.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
2,580 | 2,905 | (325 | ) | (11.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(654 | ) | (622 | ) | (32 | ) | 5.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,926 | 2,283 | (358 | ) | (15.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,926 | 2,283 | (358 | ) | (15.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
414 | 479 | (65 | ) | (13.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
1,512 | 1,804 | (292 | ) | (16.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
136,325 | 135,931 | 394 | 0.3 | ||||||||||||
| Trading portfolio (w/o loans) |
33,960 | 30,457 | 3,503 | 11.5 | ||||||||||||
| Available-for-sale financial assets |
25,052 | 21,541 | 3,510 | 16.3 | ||||||||||||
| Due from credit institutions ** |
22,442 | 23,601 | (1,159 | ) | (4.9 | ) | ||||||||||
| Intangible assets and property and equipment |
3,852 | 4,019 | (167 | ) | (4.2 | ) | ||||||||||
| Other assets |
44,619 | 44,133 | 486 | 1.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
266,251 | 259,683 | 6,568 | 2.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
127,903 | 132,214 | (4,311 | ) | (3.3 | ) | ||||||||||
| Marketable debt securities ** |
31,792 | 30,717 | 1,075 | 3.5 | ||||||||||||
| Subordinated debt ** |
6,760 | 4,190 | 2,571 | 61.4 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
30,227 | 26,345 | 3,882 | 14.7 | ||||||||||||
| Other liabilities |
48,071 | 43,021 | 5,050 | 11.7 | ||||||||||||
| Shareholders’ equity *** |
21,497 | 23,196 | (1,699 | ) | (7.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
76,454 | 65,527 | 10,927 | 16.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
65,315 | 56,411 | 8,903 | 15.8 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
11,140 | 9,116 | 2,023 | 22.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
242,910 | 232,647 | 10,262 | 4.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
14.42 | 15.11 | (0.70 p. | ) | ||||||||||||
| Efficiency ratio (with amortisations) |
41.3 | 39.3 | 2.1 p. | |||||||||||||
| NPL ratio |
5.03 | 5.23 | (0.20 p. | ) | ||||||||||||
| NPL coverage |
86.3 | 86.1 | 0.2 p. | |||||||||||||
| Number of employees |
83,299 | 86,649 | (3,350 | ) | (3.9 | ) | ||||||||||
| Number of branches |
5,705 | 5,881 | (176 | ) | (3.0 | ) | ||||||||||
Latin America
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
3,991 | 3,927 | 3,503 | 3,491 | 3,346 | 3,496 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
1,228 | 1,223 | 1,073 | 1,137 | 1,048 | 1,100 | ||||||||||||||||||
| Gains (losses) on financial transactions |
337 | 212 | 333 | 155 | 126 | 115 | ||||||||||||||||||
| Other operating income * |
8 | 22 | 14 | 6 | (2 | ) | 42 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
5,564 | 5,385 | 4,923 | 4,789 | 4,517 | 4,753 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(2,138 | ) | (2,162 | ) | (2,049 | ) | (2,127 | ) | (1,879 | ) | (1,952 | ) | ||||||||||||
| General administrative expenses |
(1,907 | ) | (1,928 | ) | (1,834 | ) | (1,911 | ) | (1,679 | ) | (1,768 | ) | ||||||||||||
| Personnel |
(1,080 | ) | (1,078 | ) | (1,012 | ) | (1,037 | ) | (933 | ) | (991 | ) | ||||||||||||
| Other general administrative expenses |
(827 | ) | (850 | ) | (822 | ) | (874 | ) | (746 | ) | (777 | ) | ||||||||||||
| Depreciation and amortisation |
(231 | ) | (234 | ) | (214 | ) | (216 | ) | (200 | ) | (184 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
3,426 | 3,223 | 2,874 | 2,662 | 2,638 | 2,802 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,795 | ) | (1,743 | ) | (1,515 | ) | (1,382 | ) | (1,239 | ) | (1,281 | ) | ||||||||||||
| Other income |
(62 | ) | (144 | ) | (144 | ) | (194 | ) | (161 | ) | (179 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
1,569 | 1,336 | 1,216 | 1,087 | 1,238 | 1,341 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(331 | ) | (291 | ) | (297 | ) | (247 | ) | (328 | ) | (326 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
1,238 | 1,045 | 919 | 840 | 910 | 1,015 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | 0 | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
1,238 | 1,045 | 919 | 840 | 910 | 1,015 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
270 | 210 | 198 | 184 | 199 | 215 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
969 | 835 | 721 | 656 | 712 | 800 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
144,798 | 135,931 | 131,809 | 128,684 | 129,743 | 136,325 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
31,914 | 30,457 | 26,816 | 23,097 | 27,301 | 33,960 | ||||||||||||||||||
| Available-for-sale financial assets |
23,437 | 21,541 | 18,741 | 20,822 | 26,698 | 25,052 | ||||||||||||||||||
| Due from credit institutions ** |
35,184 | 23,601 | 25,046 | 28,073 | 22,655 | 22,442 | ||||||||||||||||||
| Intangible assets and property and equipment |
4,454 | 4,019 | 3,912 | 3,895 | 3,848 | 3,852 | ||||||||||||||||||
| Other assets |
45,951 | 44,133 | 44,628 | 40,354 | 43,344 | 44,619 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
285,738 | 259,683 | 250,952 | 244,925 | 253,589 | 266,251 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
138,957 | 132,214 | 128,319 | 122,176 | 126,239 | 127,903 | ||||||||||||||||||
| Marketable debt securities ** |
31,978 | 30,717 | 28,455 | 28,987 | 27,848 | 31,792 | ||||||||||||||||||
| Subordinated debt ** |
5,622 | 4,190 | 3,884 | 4,833 | 6,661 | 6,760 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
32,951 | 26,345 | 25,445 | 24,489 | 25,487 | 30,227 | ||||||||||||||||||
| Other liabilities |
50,405 | 43,021 | 43,308 | 44,999 | 45,949 | 48,071 | ||||||||||||||||||
| Shareholders’ equity *** |
25,824 | 23,196 | 21,541 | 19,442 | 21,405 | 21,497 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
70,913 | 65,527 | 68,439 | 65,599 | 70,867 | 76,454 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
61,256 | 56,411 | 59,129 | 55,835 | 60,256 | 65,315 | ||||||||||||||||||
| Pension funds |
0 | — | (0 | ) | 0 | — | — | |||||||||||||||||
| Managed portfolios |
9,657 | 9,116 | 9,310 | 9,764 | 10,611 | 11,140 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
247,469 | 232,647 | 229,096 | 221,595 | 231,615 | 242,910 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
5.40 | 5.23 | 5.29 | 5.00 | 5.06 | 5.03 | ||||||||||||||||||
| NPL coverage |
87.4 | 86.1 | 83.6 | 85.4 | 86.1 | 86.3 | ||||||||||||||||||
| Cost of credit |
5.07 | 4.87 | 4.73 | 4.53 | 4.24 | 3.95 | ||||||||||||||||||
Latin America
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
6,842 | 6,691 | 151 | 2.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
2,148 | 2,056 | 92 | 4.5 | ||||||||||||
| Gains (losses) on financial transactions |
241 | 463 | (222 | ) | (48.0 | ) | ||||||||||
| Other operating income * |
39 | 26 | 13 | 49.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
9,270 | 9,237 | 34 | 0.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,831 | ) | (3,619 | ) | (212 | ) | 5.9 | |||||||||
| General administrative expenses |
(3,446 | ) | (3,227 | ) | (220 | ) | 6.8 | |||||||||
| Personnel |
(1,924 | ) | (1,817 | ) | (107 | ) | 5.9 | |||||||||
| Other general administrative expenses |
(1,522 | ) | (1,410 | ) | (113 | ) | 8.0 | |||||||||
| Depreciation and amortisation |
(384 | ) | (392 | ) | 8 | (2.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
5,440 | 5,618 | (178 | ) | (3.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(2,520 | ) | (3,001 | ) | 481 | (16.0 | ) | |||||||||
| Other income |
(340 | ) | (168 | ) | (172 | ) | 102.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
2,580 | 2,449 | 131 | 5.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(654 | ) | (513 | ) | (141 | ) | 27.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,926 | 1,936 | (10 | ) | (0.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,926 | 1,936 | (10 | ) | (0.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
414 | 413 | 1 | 0.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
1,512 | 1,523 | (11 | ) | (0.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
136,325 | 126,270 | 10,055 | 8.0 | ||||||||||||
| Trading portfolio (w/o loans) |
33,960 | 29,117 | 4,844 | 16.6 | ||||||||||||
| Available-for-sale financial assets |
25,052 | 20,315 | 4,737 | 23.3 | ||||||||||||
| Due from credit institutions ** |
22,442 | 22,308 | 134 | 0.6 | ||||||||||||
| Intangible assets and property and equipment |
3,852 | 3,755 | 97 | 2.6 | ||||||||||||
| Other assets |
44,619 | 41,570 | 3,049 | 7.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
266,251 | 243,335 | 22,916 | 9.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
127,903 | 122,933 | 4,970 | 4.0 | ||||||||||||
| Marketable debt securities ** |
31,792 | 29,058 | 2,734 | 9.4 | ||||||||||||
| Subordinated debt ** |
6,760 | 3,946 | 2,814 | 71.3 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
30,227 | 24,862 | 5,365 | 21.6 | ||||||||||||
| Other liabilities |
48,071 | 40,741 | 7,330 | 18.0 | ||||||||||||
| Shareholders’ equity *** |
21,497 | 21,794 | (297 | ) | (1.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
76,454 | 62,399 | 14,056 | 22.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
65,315 | 53,759 | 11,556 | 21.5 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
11,140 | 8,640 | 2,499 | 28.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
242,910 | 218,336 | 24,574 | 11.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Latin America
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
3,349 | 3,342 | 3,302 | 3,371 | 3,409 | 3,434 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
1,026 | 1,030 | 999 | 1,087 | 1,064 | 1,083 | ||||||||||||||||||
| Gains (losses) on financial transactions |
283 | 180 | 299 | 147 | 125 | 116 | ||||||||||||||||||
| Other operating income * |
7 | 20 | 12 | 7 | (2 | ) | 41 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
4,664 | 4,573 | 4,612 | 4,612 | 4,596 | 4,674 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,789 | ) | (1,830 | ) | (1,909 | ) | (2,033 | ) | (1,909 | ) | (1,921 | ) | ||||||||||||
| General administrative expenses |
(1,595 | ) | (1,631 | ) | (1,708 | ) | (1,827 | ) | (1,706 | ) | (1,741 | ) | ||||||||||||
| Personnel |
(905 | ) | (912 | ) | (943 | ) | (992 | ) | (948 | ) | (977 | ) | ||||||||||||
| Other general administrative expenses |
(691 | ) | (719 | ) | (765 | ) | (834 | ) | (758 | ) | (764 | ) | ||||||||||||
| Depreciation and amortisation |
(193 | ) | (199 | ) | (200 | ) | (207 | ) | (204 | ) | (181 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
2,875 | 2,743 | 2,703 | 2,578 | 2,686 | 2,753 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,509 | ) | (1,492 | ) | (1,451 | ) | (1,358 | ) | (1,265 | ) | (1,254 | ) | ||||||||||||
| Other income |
(47 | ) | (120 | ) | (131 | ) | (181 | ) | (165 | ) | (175 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
1,318 | 1,131 | 1,121 | 1,040 | 1,256 | 1,323 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(271 | ) | (242 | ) | (268 | ) | (232 | ) | (333 | ) | (321 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
1,047 | 889 | 853 | 808 | 923 | 1,003 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | 0 | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
1,047 | 889 | 853 | 808 | 923 | 1,003 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
231 | 182 | 187 | 180 | 202 | 212 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
816 | 707 | 666 | 628 | 721 | 791 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
121,879 | 126,270 | 128,357 | 132,658 | 133,390 | 136,325 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
28,028 | 29,117 | 26,875 | 24,108 | 28,020 | 33,960 | ||||||||||||||||||
| Available-for-sale financial assets |
19,795 | 20,315 | 18,557 | 21,930 | 27,628 | 25,052 | ||||||||||||||||||
| Due from credit institutions ** |
30,484 | 22,308 | 24,857 | 29,339 | 23,233 | 22,442 | ||||||||||||||||||
| Intangible assets and property and equipment |
3,742 | 3,755 | 3,841 | 4,072 | 3,976 | 3,852 | ||||||||||||||||||
| Other assets |
38,889 | 41,570 | 44,157 | 42,150 | 44,755 | 44,619 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
242,818 | 243,335 | 246,645 | 254,258 | 261,002 | 266,251 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
117,058 | 122,933 | 125,246 | 125,865 | 129,759 | 127,903 | ||||||||||||||||||
| Marketable debt securities ** |
27,167 | 29,058 | 28,167 | 30,514 | 28,797 | 31,792 | ||||||||||||||||||
| Subordinated debt ** |
4,754 | 3,946 | 3,827 | 5,041 | 6,885 | 6,760 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
28,208 | 24,862 | 25,169 | 25,517 | 26,238 | 30,227 | ||||||||||||||||||
| Other liabilities |
43,622 | 40,741 | 42,986 | 47,047 | 47,302 | 48,071 | ||||||||||||||||||
| Shareholders’ equity *** |
22,008 | 21,794 | 21,250 | 20,274 | 22,020 | 21,497 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
61,181 | 62,399 | 68,367 | 69,211 | 73,135 | 76,454 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
52,610 | 53,759 | 59,199 | 59,195 | 62,317 | 65,315 | ||||||||||||||||||
| Pension funds |
0 | — | — | 0 | — | — | ||||||||||||||||||
| Managed portfolios |
8,571 | 8,640 | 9,168 | 10,016 | 10,818 | 11,140 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
210,160 | 218,336 | 225,607 | 230,631 | 238,577 | 242,910 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Latin America. Results
EUR million
| Gross income | Net operating income | Attributable profit to the Group | ||||||||||||||||||||||||||||||||||
| 1H ’14 | 1H ’13 | Var. (%) | 1H ’14 | 1H ’13 | Var. (%) | 1H ’14 | 1H ’13 | Var. (%) | ||||||||||||||||||||||||||||
| Brazil |
5,838 | 7,333 | (20.4 | ) | 3,509 | 4,618 | (24.0 | ) | 758 | 919 | (17.5 | ) | ||||||||||||||||||||||||
| Mexico |
1,488 | 1,565 | (4.9 | ) | 870 | 962 | (9.6 | ) | 307 | 441 | (30.4 | ) | ||||||||||||||||||||||||
| Chile |
1,084 | 1,110 | (2.4 | ) | 672 | 633 | 6.2 | 255 | 201 | 27.1 | ||||||||||||||||||||||||||
| Argentina |
560 | 635 | (11.7 | ) | 291 | 331 | (11.9 | ) | 135 | 166 | (18.4 | ) | ||||||||||||||||||||||||
| Uruguay |
123 | 130 | (5.0 | ) | 45 | 48 | (6.8 | ) | 25 | 28 | (10.3 | ) | ||||||||||||||||||||||||
| Peru |
23 | 19 | 20.6 | 15 | 13 | 21.5 | 10 | 9 | 13.5 | |||||||||||||||||||||||||||
| Rest |
16 | 4 | 269.1 | (30 | ) | (37 | ) | (17.9 | ) | (25 | ) | (23 | ) | 9.8 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Subtotal |
9,132 | 10,796 | (15.4 | ) | 5,373 | 6,568 | (18.2 | ) | 1,465 | 1,739 | (15.8 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Santander Private Banking |
138 | 152 | (9.6 | ) | 66 | 81 | (18.6 | ) | 47 | 65 | (27.7 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Total |
9,270 | 10,949 | (15.3 | ) | 5,440 | 6,649 | (18.2 | ) | 1,512 | 1,804 | (16.2 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Latin America. Results
Constant EUR million
| Gross income | Net operating income | Attributable profit to the Group | ||||||||||||||||||||||||||||||||||
| 1H ’14 | 1H ’13 | Var. (%) | 1H ’14 | 1H ’13 | Var. (%) | 1H ’14 | 1H ’13 | Var. (%) | ||||||||||||||||||||||||||||
| Brazil |
5,838 | 6,209 | (6.0 | ) | 3,509 | 3,910 | (10.2 | ) | 758 | 778 | (2.5 | ) | ||||||||||||||||||||||||
| Mexico |
1,488 | 1,434 | 3.8 | 870 | 882 | (1.3 | ) | 307 | 404 | (24.0 | ) | |||||||||||||||||||||||||
| Chile |
1,084 | 920 | 17.8 | 672 | 525 | 28.1 | 255 | 166 | 53.3 | |||||||||||||||||||||||||||
| Argentina |
560 | 400 | 40.3 | 291 | 208 | 40.0 | 135 | 104 | 29.6 | |||||||||||||||||||||||||||
| Uruguay |
123 | 107 | 15.4 | 45 | 40 | 13.2 | 25 | 23 | 9.0 | |||||||||||||||||||||||||||
| Peru |
23 | 17 | 34.8 | 15 | 11 | 35.7 | 10 | 8 | 26.8 | |||||||||||||||||||||||||||
| Rest |
16 | 4 | 319.0 | (30 | ) | (35 | ) | (15.0 | ) | (25 | ) | (22 | ) | 15.3 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Subtotal |
9,132 | 9,091 | 0.5 | 5,373 | 5,540 | (3.0 | ) | 1,465 | 1,461 | 0.3 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Santander Private Banking |
138 | 146 | (5.6 | ) | 66 | 78 | (15.0 | ) | 47 | 62 | (24.5 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
| Total |
9,270 | 9,237 | 0.4 | 5,440 | 5,618 | (3.2 | ) | 1,512 | 1,523 | (0.7 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Brazil
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
4,494 | 5,513 | (1,020 | ) | (18.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,314 | 1,533 | (220 | ) | (14.3 | ) | ||||||||||
| Gains (losses) on financial transactions |
(20 | ) | 277 | (297 | ) | — | ||||||||||
| Other operating income * |
50 | 9 | 41 | 447.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
5,838 | 7,333 | (1,495 | ) | (20.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(2,328 | ) | (2,715 | ) | 387 | (14.2 | ) | |||||||||
| General administrative expenses |
(2,079 | ) | (2,409 | ) | 330 | (13.7 | ) | |||||||||
| Personnel |
(1,140 | ) | (1,321 | ) | 180 | (13.7 | ) | |||||||||
| Other general administrative expenses |
(939 | ) | (1,089 | ) | 149 | (13.7 | ) | |||||||||
| Depreciation and amortisation |
(249 | ) | (306 | ) | 57 | (18.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
3,509 | 4,618 | (1,109 | ) | (24.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,837 | ) | (2,844 | ) | 1,006 | (35.4 | ) | |||||||||
| Other income |
(308 | ) | (210 | ) | (98 | ) | 46.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,364 | 1,564 | (200 | ) | (12.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(391 | ) | (386 | ) | (4 | ) | 1.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
974 | 1,178 | (204 | ) | (17.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
974 | 1,178 | (204 | ) | (17.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
215 | 259 | (44 | ) | (16.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
758 | 919 | (160 | ) | (17.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
71,475 | 71,296 | 179 | 0.3 | ||||||||||||
| Trading portfolio (w/o loans) |
16,954 | 12,276 | 4,678 | 38.1 | ||||||||||||
| Available-for-sale financial assets |
18,352 | 14,848 | 3,504 | 23.6 | ||||||||||||
| Due from credit institutions ** |
10,129 | 11,171 | (1,042 | ) | (9.3 | ) | ||||||||||
| Intangible assets and property and equipment |
2,796 | 2,965 | (169 | ) | (5.7 | ) | ||||||||||
| Other assets |
31,608 | 32,258 | (650 | ) | (2.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
151,315 | 144,814 | 6,501 | 4.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
68,450 | 69,199 | (749 | ) | (1.1 | ) | ||||||||||
| Marketable debt securities ** |
21,772 | 21,453 | 320 | 1.5 | ||||||||||||
| Subordinated debt ** |
4,821 | 3,130 | 1,691 | 54.0 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
16,122 | 14,571 | 1,551 | 10.6 | ||||||||||||
| Other liabilities |
27,974 | 23,075 | 4,899 | 21.2 | ||||||||||||
| Shareholders’ equity *** |
12,176 | 13,386 | (1,210 | ) | (9.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
49,593 | 41,585 | 8,008 | 19.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
46,394 | 38,469 | 7,925 | 20.6 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
3,199 | 3,116 | 83 | 2.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
144,636 | 135,368 | 9,269 | 6.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
||||||||||||||||
| Ratios (%) and other data |
||||||||||||||||
| ROE |
12.89 | 13.13 | (0.24 p. | ) | ||||||||||||
| Efficiency ratio (with amortisations) |
39.9 | 37.0 | 2.9 p. | |||||||||||||
| NPL ratio |
5.78 | 6.49 | (0.71 p. | ) | ||||||||||||
| NPL coverage |
94.8 | 91.3 | 3.5 p. | |||||||||||||
| Number of employees |
47,205 | 51,383 | (4,178 | ) | (8.1 | ) | ||||||||||
| Number of branches |
3,449 | 3,697 | (248 | ) | (6.7 | ) | ||||||||||
Brazil
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
2,801 | 2,712 | 2,266 | 2,287 | 2,199 | 2,295 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
762 | 772 | 633 | 705 | 629 | 685 | ||||||||||||||||||
| Gains (losses) on financial transactions |
215 | 62 | 203 | 60 | 17 | (37 | ) | |||||||||||||||||
| Other operating income * |
3 | 6 | 12 | 19 | 7 | 44 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
3,781 | 3,552 | 3,115 | 3,070 | 2,851 | 2,986 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,359 | ) | (1,356 | ) | (1,263 | ) | (1,346 | ) | (1,133 | ) | (1,196 | ) | ||||||||||||
| General administrative expenses |
(1,207 | ) | (1,202 | ) | (1,127 | ) | (1,207 | ) | (1,006 | ) | (1,074 | ) | ||||||||||||
| Personnel |
(674 | ) | (647 | ) | (597 | ) | (645 | ) | (550 | ) | (591 | ) | ||||||||||||
| Other general administrative expenses |
(534 | ) | (555 | ) | (530 | ) | (561 | ) | (456 | ) | (483 | ) | ||||||||||||
| Depreciation and amortisation |
(152 | ) | (154 | ) | (136 | ) | (139 | ) | (127 | ) | (122 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
2,422 | 2,196 | 1,852 | 1,724 | 1,719 | 1,791 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,471 | ) | (1,372 | ) | (1,065 | ) | (985 | ) | (905 | ) | (933 | ) | ||||||||||||
| Other income |
(78 | ) | (133 | ) | (126 | ) | (162 | ) | (143 | ) | (166 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
873 | 691 | 661 | 577 | 671 | 693 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(221 | ) | (165 | ) | (192 | ) | (185 | ) | (202 | ) | (188 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
652 | 525 | 469 | 392 | 469 | 504 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
652 | 525 | 469 | 392 | 469 | 504 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
154 | 105 | 111 | 91 | 106 | 110 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
499 | 420 | 358 | 301 | 364 | 395 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
77,918 | 71,296 | 69,395 | 66,446 | 68,518 | 71,475 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
11,824 | 12,276 | 11,663 | 10,321 | 11,314 | 16,954 | ||||||||||||||||||
| Available-for-sale financial assets |
16,766 | 14,848 | 12,273 | 14,175 | 19,790 | 18,352 | ||||||||||||||||||
| Due from credit institutions ** |
15,402 | 11,171 | 11,681 | 14,734 | 9,048 | 10,129 | ||||||||||||||||||
| Intangible assets and property and equipment |
3,330 | 2,965 | 2,863 | 2,793 | 2,797 | 2,796 | ||||||||||||||||||
| Other assets |
33,640 | 32,258 | 31,265 | 25,456 | 29,629 | 31,608 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
158,880 | 144,814 | 139,140 | 133,925 | 141,097 | 151,315 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
75,162 | 69,199 | 65,801 | 61,490 | 65,934 | 68,450 | ||||||||||||||||||
| Marketable debt securities ** |
21,850 | 21,453 | 20,000 | 20,002 | 19,898 | 21,772 | ||||||||||||||||||
| Subordinated debt ** |
4,438 | 3,130 | 2,858 | 2,734 | 4,585 | 4,821 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
18,084 | 14,571 | 14,601 | 12,929 | 13,824 | 16,122 | ||||||||||||||||||
| Other liabilities |
24,354 | 23,075 | 23,286 | 25,229 | 25,066 | 27,974 | ||||||||||||||||||
| Shareholders’ equity *** |
14,992 | 13,386 | 12,595 | 11,542 | 11,789 | 12,176 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
45,783 | 41,585 | 45,571 | 42,640 | 45,749 | 49,593 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
42,227 | 38,469 | 42,445 | 39,675 | 42,602 | 46,394 | ||||||||||||||||||
| Pension funds |
0 | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
3,556 | 3,116 | 3,126 | 2,965 | 3,147 | 3,199 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
147,233 | 135,368 | 134,230 | 126,866 | 136,165 | 144,636 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
||||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
6.90 | 6.49 | 6.12 | 5.64 | 5.74 | 5.78 | ||||||||||||||||||
| NPL coverage |
90.4 | 91.3 | 92.0 | 95.1 | 95.2 | 94.8 | ||||||||||||||||||
| Cost of credit |
7.46 | 7.07 | 6.72 | 6.34 | 5.82 | 5.38 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
13.81 | 13.26 | 12.77 | 12.77 | 12.66 | 12.52 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
13.09 | 12.51 | 11.93 | 11.82 | 11.76 | 11.60 | ||||||||||||||||||
| Deposit spreads |
0.72 | 0.75 | 0.84 | 0.95 | 0.90 | 0.92 | ||||||||||||||||||
Brazil
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
4,494 | 4,668 | (174 | ) | (3.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,314 | 1,298 | 15 | 1.2 | ||||||||||||
| Gains (losses) on financial transactions |
(20 | ) | 235 | (255 | ) | — | ||||||||||
| Other operating income * |
50 | 8 | 43 | 546.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
5,838 | 6,209 | (371 | ) | (6.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(2,328 | ) | (2,299 | ) | (29 | ) | 1.3 | |||||||||
| General administrative expenses |
(2,079 | ) | (2,040 | ) | (40 | ) | 1.9 | |||||||||
| Personnel |
(1,140 | ) | (1,118 | ) | (22 | ) | 2.0 | |||||||||
| Other general administrative expenses |
(939 | ) | (922 | ) | (17 | ) | 1.9 | |||||||||
| Depreciation and amortisation |
(249 | ) | (259 | ) | 10 | (3.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
3,509 | 3,910 | (401 | ) | (10.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,837 | ) | (2,408 | ) | 570 | (23.7 | ) | |||||||||
| Other income |
(308 | ) | (178 | ) | (130 | ) | 72.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,364 | 1,324 | 40 | 3.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(391 | ) | (327 | ) | (64 | ) | 19.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
974 | 997 | (24 | ) | (2.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
974 | 997 | (24 | ) | (2.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
215 | 220 | (4 | ) | (1.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
758 | 778 | (20 | ) | (2.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
71,475 | 68,675 | 2,800 | 4.1 | ||||||||||||
| Trading portfolio (w/o loans) |
16,954 | 11,825 | 5,130 | 43.4 | ||||||||||||
| Available-for-sale financial assets |
18,352 | 14,303 | 4,050 | 28.3 | ||||||||||||
| Due from credit institutions ** |
10,129 | 10,760 | (631 | ) | (5.9 | ) | ||||||||||
| Intangible assets and property and equipment |
2,796 | 2,856 | (60 | ) | (2.1 | ) | ||||||||||
| Other assets |
31,608 | 31,072 | 536 | 1.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
151,315 | 139,490 | 11,825 | 8.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
68,450 | 66,655 | 1,795 | 2.7 | ||||||||||||
| Marketable debt securities ** |
21,772 | 20,664 | 1,108 | 5.4 | ||||||||||||
| Subordinated debt ** |
4,821 | 3,015 | 1,806 | 59.9 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
16,122 | 14,035 | 2,087 | 14.9 | ||||||||||||
| Other liabilities |
27,974 | 22,227 | 5,747 | 25.9 | ||||||||||||
| Shareholders’ equity *** |
12,176 | 12,894 | (718 | ) | (5.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
49,593 | 40,056 | 9,536 | 23.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
46,394 | 37,055 | 9,339 | 25.2 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
3,199 | 3,002 | 197 | 6.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
144,636 | 130,391 | 14,245 | 10.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Brazil
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
2,346 | 2,322 | 2,203 | 2,253 | 2,264 | 2,230 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
638 | 660 | 615 | 689 | 648 | 666 | ||||||||||||||||||
| Gains (losses) on financial transactions |
180 | 54 | 190 | 65 | 17 | (37 | ) | |||||||||||||||||
| Other operating income * |
3 | 5 | 11 | 18 | 7 | 44 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
3,167 | 3,041 | 3,018 | 3,026 | 2,935 | 2,902 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,138 | ) | (1,160 | ) | (1,214 | ) | (1,312 | ) | (1,166 | ) | (1,162 | ) | ||||||||||||
| General administrative expenses |
(1,011 | ) | (1,029 | ) | (1,083 | ) | (1,176 | ) | (1,035 | ) | (1,044 | ) | ||||||||||||
| Personnel |
(564 | ) | (554 | ) | (575 | ) | (630 | ) | (566 | ) | (575 | ) | ||||||||||||
| Other general administrative expenses |
(447 | ) | (475 | ) | (508 | ) | (546 | ) | (470 | ) | (469 | ) | ||||||||||||
| Depreciation and amortisation |
(127 | ) | (132 | ) | (131 | ) | (137 | ) | (131 | ) | (118 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
2,029 | 1,881 | 1,804 | 1,713 | 1,769 | 1,740 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,232 | ) | (1,175 | ) | (1,044 | ) | (984 | ) | (931 | ) | (906 | ) | ||||||||||||
| Other income |
(65 | ) | (113 | ) | (119 | ) | (155 | ) | (147 | ) | (161 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
731 | 593 | 641 | 574 | 691 | 673 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(185 | ) | (142 | ) | (184 | ) | (181 | ) | (208 | ) | (182 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
546 | 451 | 457 | 393 | 483 | 491 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
546 | 451 | 457 | 393 | 483 | 491 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
129 | 91 | 107 | 91 | 109 | 107 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
418 | 360 | 350 | 302 | 374 | 384 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
66,753 | 68,675 | 70,329 | 72,147 | 71,428 | 71,475 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
10,130 | 11,825 | 11,820 | 11,206 | 11,795 | 16,954 | ||||||||||||||||||
| Available-for-sale financial assets |
14,364 | 14,303 | 12,439 | 15,391 | 20,631 | 18,352 | ||||||||||||||||||
| Due from credit institutions ** |
13,195 | 10,760 | 11,838 | 15,998 | 9,432 | 10,129 | ||||||||||||||||||
| Intangible assets and property and equipment |
2,853 | 2,856 | 2,902 | 3,032 | 2,916 | 2,796 | ||||||||||||||||||
| Other assets |
28,819 | 31,072 | 31,686 | 27,640 | 30,887 | 31,608 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
136,114 | 139,490 | 141,014 | 145,415 | 147,089 | 151,315 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
64,392 | 66,655 | 66,687 | 66,766 | 68,734 | 68,450 | ||||||||||||||||||
| Marketable debt securities ** |
18,719 | 20,664 | 20,269 | 21,718 | 20,743 | 21,772 | ||||||||||||||||||
| Subordinated debt ** |
3,802 | 3,015 | 2,897 | 2,969 | 4,779 | 4,821 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
15,493 | 14,035 | 14,798 | 14,038 | 14,411 | 16,122 | ||||||||||||||||||
| Other liabilities |
20,864 | 22,227 | 23,599 | 27,393 | 26,131 | 27,974 | ||||||||||||||||||
| Shareholders’ equity *** |
12,844 | 12,894 | 12,765 | 12,532 | 12,290 | 12,176 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
39,223 | 40,056 | 46,185 | 46,298 | 47,691 | 49,593 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
36,176 | 37,055 | 43,017 | 43,079 | 44,411 | 46,394 | ||||||||||||||||||
| Pension funds |
0 | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
3,047 | 3,002 | 3,168 | 3,220 | 3,281 | 3,199 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
126,136 | 130,391 | 136,038 | 137,750 | 141,948 | 144,636 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Mexico
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,038 | 1,057 | (19 | ) | (1.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
381 | 398 | (17 | ) | (4.3 | ) | ||||||||||
| Gains (losses) on financial transactions |
89 | 113 | (24 | ) | (21.3 | ) | ||||||||||
| Other operating income * |
(19 | ) | (3 | ) | (17 | ) | 627.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,488 | 1,565 | (77 | ) | (4.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(619 | ) | (603 | ) | (15 | ) | 2.6 | |||||||||
| General administrative expenses |
(554 | ) | (540 | ) | (14 | ) | 2.7 | |||||||||
| Personnel |
(290 | ) | (297 | ) | 8 | (2.6 | ) | |||||||||
| Other general administrative expenses |
(265 | ) | (242 | ) | (22 | ) | 9.2 | |||||||||
| Depreciation and amortisation |
(64 | ) | (63 | ) | (1 | ) | 1.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
870 | 962 | (92 | ) | (9.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(369 | ) | (326 | ) | (44 | ) | 13.4 | |||||||||
| Other income |
(3 | ) | 24 | (28 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
497 | 660 | (163 | ) | (24.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(105 | ) | (83 | ) | (22 | ) | 26.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
392 | 578 | (185 | ) | (32.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
392 | 578 | (185 | ) | (32.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
86 | 137 | (51 | ) | (37.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
307 | 441 | (134 | ) | (30.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
24,516 | 22,440 | 2,076 | 9.3 | ||||||||||||
| Trading portfolio (w/o loans) |
11,603 | 12,644 | (1,041 | ) | (8.2 | ) | ||||||||||
| Available-for-sale financial assets |
3,944 | 3,192 | 752 | 23.6 | ||||||||||||
| Due from credit institutions ** |
6,975 | 5,857 | 1,118 | 19.1 | ||||||||||||
| Intangible assets and property and equipment |
397 | 380 | 16 | 4.3 | ||||||||||||
| Other assets |
5,494 | 4,774 | 720 | 15.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
52,928 | 49,287 | 3,641 | 7.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
24,803 | 26,497 | (1,694 | ) | (6.4 | ) | ||||||||||
| Marketable debt securities ** |
3,818 | 3,214 | 605 | 18.8 | ||||||||||||
| Subordinated debt ** |
971 | — | 971 | — | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
7,840 | 4,828 | 3,013 | 62.4 | ||||||||||||
| Other liabilities |
11,684 | 10,676 | 1,007 | 9.4 | ||||||||||||
| Shareholders’ equity *** |
3,812 | 4,072 | (260 | ) | (6.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
11,724 | 10,789 | 935 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
11,724 | 10,789 | 935 | 8.7 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
41,316 | 40,500 | 816 | 2.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
| Ratios (%) and other data |
||||||||||||||||
| ROE |
16.90 | 21.52 | (4.62 p. | ) | ||||||||||||
| Efficiency ratio (with amortisations) |
41.6 | 38.5 | 3.0 p. | |||||||||||||
| NPL ratio |
3.52 | 2.20 | 1.32 p. | |||||||||||||
| NPL coverage |
96.6 | 142.7 | (46.1 p. | ) | ||||||||||||
| Number of employees |
14,859 | 14,264 | 595 | 4.2 | ||||||||||||
| Number of branches |
1,293 | 1,215 | 78 | 6.4 |
Mexico
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
516 | 541 | 533 | 531 | 509 | 529 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
208 | 189 | 197 | 188 | 190 | 191 | ||||||||||||||||||
| Gains (losses) on financial transactions |
54 | 59 | 31 | (3 | ) | 27 | 62 | |||||||||||||||||
| Other operating income * |
(8 | ) | 5 | (10 | ) | (11 | ) | (12 | ) | (7 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
770 | 795 | 751 | 705 | 713 | 775 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(299 | ) | (304 | ) | (307 | ) | (315 | ) | (307 | ) | (312 | ) | ||||||||||||
| General administrative expenses |
(268 | ) | (272 | ) | (277 | ) | (288 | ) | (273 | ) | (281 | ) | ||||||||||||
| Personnel |
(147 | ) | (151 | ) | (155 | ) | (141 | ) | (142 | ) | (148 | ) | ||||||||||||
| Other general administrative expenses |
(122 | ) | (121 | ) | (122 | ) | (148 | ) | (131 | ) | (133 | ) | ||||||||||||
| Depreciation and amortisation |
(30 | ) | (33 | ) | (30 | ) | (27 | ) | (33 | ) | (31 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
472 | 490 | 444 | 390 | 407 | 463 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(142 | ) | (184 | ) | (257 | ) | (218 | ) | (179 | ) | (191 | ) | ||||||||||||
| Other income |
26 | (2 | ) | (3 | ) | (4 | ) | (2 | ) | (2 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
355 | 305 | 184 | 168 | 226 | 271 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(40 | ) | (42 | ) | (22 | ) | 25 | (48 | ) | (56 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
315 | 263 | 162 | 193 | 178 | 214 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
315 | 263 | 162 | 193 | 178 | 214 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
74 | 63 | 39 | 44 | 40 | 46 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
241 | 199 | 123 | 149 | 138 | 169 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- Including dividends, income from equity-accounted method and other operating income/expenses |
|
|||||||||||||||||||||||
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
23,279 | 22,440 | 21,007 | 22,269 | 22,381 | 24,516 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
14,661 | 12,644 | 10,306 | 8,685 | 11,293 | 11,603 | ||||||||||||||||||
| Available-for-sale financial assets |
2,386 | 3,192 | 3,116 | 3,387 | 3,475 | 3,944 | ||||||||||||||||||
| Due from credit institutions ** |
12,927 | 5,857 | 7,518 | 7,975 | 8,347 | 6,975 | ||||||||||||||||||
| Intangible assets and property and equipment |
400 | 380 | 377 | 402 | 395 | 397 | ||||||||||||||||||
| Other assets |
5,131 | 4,774 | 4,931 | 5,681 | 5,637 | 5,494 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
58,785 | 49,287 | 47,254 | 48,398 | 51,529 | 52,928 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
26,014 | 26,497 | 25,783 | 24,663 | 25,592 | 24,803 | ||||||||||||||||||
| Marketable debt securities ** |
3,642 | 3,214 | 2,456 | 2,896 | 2,496 | 3,818 | ||||||||||||||||||
| Subordinated debt ** |
— | — | — | 931 | 946 | 971 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
8,085 | 4,828 | 4,472 | 5,494 | 5,922 | 7,840 | ||||||||||||||||||
| Other liabilities |
16,580 | 10,676 | 11,028 | 11,601 | 12,808 | 11,684 | ||||||||||||||||||
| Shareholders’ equity *** |
4,463 | 4,072 | 3,515 | 2,814 | 3,765 | 3,812 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
11,300 | 10,789 | 10,293 | 10,349 | 11,016 | 11,724 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
11,300 | 10,789 | 10,293 | 10,349 | 11,016 | 11,724 | ||||||||||||||||||
| Pension funds |
— | — | — | 0 | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
40,957 | 40,500 | 38,532 | 38,838 | 40,049 | 41,316 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
|
|||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
1.92 | 2.20 | 3.58 | 3.66 | 3.62 | 3.52 | ||||||||||||||||||
| NPL coverage |
157.1 | 142.7 | 99.0 | 97.5 | 98.6 | 96.6 | ||||||||||||||||||
| Cost of credit |
2.46 | 2.73 | 3.27 | 3.47 | 3.59 | 3.58 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
10.32 | 10.05 | 9.90 | 9.74 | 9.69 | 9.29 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
8.46 | 8.41 | 8.34 | 8.23 | 8.17 | 7.83 | ||||||||||||||||||
| Deposit spreads |
1.86 | 1.64 | 1.56 | 1.51 | 1.52 | 1.46 | ||||||||||||||||||
Mexico
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,038 | 969 | 70 | 7.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
381 | 365 | 16 | 4.4 | ||||||||||||
| Gains (losses) on financial transactions |
89 | 103 | (15 | ) | (14.1 | ) | ||||||||||
| Other operating income * |
(19 | ) | (2 | ) | (17 | ) | 694.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,488 | 1,434 | 54 | 3.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(619 | ) | (553 | ) | (66 | ) | 11.9 | |||||||||
| General administrative expenses |
(554 | ) | (495 | ) | (60 | ) | 12.0 | |||||||||
| Personnel |
(290 | ) | (273 | ) | (17 | ) | 6.2 | |||||||||
| Other general administrative expenses |
(265 | ) | (222 | ) | (43 | ) | 19.2 | |||||||||
| Depreciation and amortisation |
(64 | ) | (58 | ) | (6 | ) | 10.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
870 | 882 | (12 | ) | (1.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(369 | ) | (299 | ) | (71 | ) | 23.7 | |||||||||
| Other income |
(3 | ) | 22 | (26 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
497 | 605 | (108 | ) | (17.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(105 | ) | (76 | ) | (29 | ) | 38.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
392 | 529 | (137 | ) | (25.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
392 | 529 | (137 | ) | (25.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
86 | 126 | (40 | ) | (31.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
307 | 404 | (97 | ) | (24.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
24,516 | 21,590 | 2,926 | 13.6 | ||||||||||||
| Trading portfolio (w/o loans) |
11,603 | 12,165 | (562 | ) | (4.6 | ) | ||||||||||
| Available-for-sale financial assets |
3,944 | 3,071 | 873 | 28.4 | ||||||||||||
| Due from credit institutions ** |
6,975 | 5,635 | 1,340 | 23.8 | ||||||||||||
| Intangible assets and property and equipment |
397 | 366 | 31 | 8.4 | ||||||||||||
| Other assets |
5,494 | 4,593 | 901 | 19.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
52,928 | 47,420 | 5,509 | 11.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
24,803 | 25,493 | (690 | ) | (2.7 | ) | ||||||||||
| Marketable debt securities ** |
3,818 | 3,092 | 726 | 23.5 | ||||||||||||
| Subordinated debt ** |
971 | — | 971 | — | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
7,840 | 4,645 | 3,195 | 68.8 | ||||||||||||
| Other liabilities |
11,684 | 10,272 | 1,412 | 13.7 | ||||||||||||
| Shareholders’ equity *** |
3,812 | 3,917 | (106 | ) | (2.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
11,724 | 10,380 | 1,344 | 12.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
11,724 | 10,380 | 1,344 | 12.9 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
41,316 | 38,965 | 2,351 | 6.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Mexico
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
480 | 489 | 507 | 522 | 514 | 525 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
194 | 171 | 187 | 185 | 191 | 189 | ||||||||||||||||||
| Gains (losses) on financial transactions |
50 | 54 | 30 | (1 | ) | 27 | 62 | |||||||||||||||||
| Other operating income * |
(7 | ) | 5 | (9 | ) | (10 | ) | (12 | ) | (7 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
716 | 719 | 715 | 697 | 719 | 769 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(277 | ) | (275 | ) | (292 | ) | (309 | ) | (309 | ) | (309 | ) | ||||||||||||
| General administrative expenses |
(249 | ) | (246 | ) | (264 | ) | (283 | ) | (276 | ) | (279 | ) | ||||||||||||
| Personnel |
(136 | ) | (136 | ) | (147 | ) | (139 | ) | (143 | ) | (146 | ) | ||||||||||||
| Other general administrative expenses |
(113 | ) | (109 | ) | (116 | ) | (144 | ) | (133 | ) | (132 | ) | ||||||||||||
| Depreciation and amortisation |
(28 | ) | (30 | ) | (28 | ) | (26 | ) | (33 | ) | (31 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
438 | 443 | 423 | 387 | 410 | 460 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(132 | ) | (167 | ) | (242 | ) | (214 | ) | (180 | ) | (189 | ) | ||||||||||||
| Other income |
24 | (2 | ) | (3 | ) | (3 | ) | (2 | ) | (2 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
330 | 275 | 178 | 170 | 228 | 269 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(38 | ) | (38 | ) | (21 | ) | 22 | (49 | ) | (56 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
293 | 237 | 157 | 193 | 180 | 213 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
293 | 237 | 157 | 193 | 180 | 213 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
68 | 57 | 37 | 44 | 40 | 45 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
224 | 180 | 119 | 148 | 139 | 168 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
20,784 | 21,590 | 21,165 | 22,723 | 22,763 | 24,516 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
13,090 | 12,165 | 10,384 | 8,862 | 11,486 | 11,603 | ||||||||||||||||||
| Available-for-sale financial assets |
2,131 | 3,071 | 3,139 | 3,455 | 3,535 | 3,944 | ||||||||||||||||||
| Due from credit institutions ** |
11,542 | 5,635 | 7,575 | 8,137 | 8,490 | 6,975 | ||||||||||||||||||
| Intangible assets and property and equipment |
357 | 366 | 380 | 410 | 402 | 397 | ||||||||||||||||||
| Other assets |
4,582 | 4,593 | 4,968 | 5,796 | 5,733 | 5,494 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
52,486 | 47,420 | 47,611 | 49,384 | 52,408 | 52,928 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
23,227 | 25,493 | 25,978 | 25,165 | 26,028 | 24,803 | ||||||||||||||||||
| Marketable debt securities ** |
3,252 | 3,092 | 2,475 | 2,955 | 2,538 | 3,818 | ||||||||||||||||||
| Subordinated debt ** |
— | — | — | 950 | 962 | 971 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
7,219 | 4,645 | 4,506 | 5,605 | 6,023 | 7,840 | ||||||||||||||||||
| Other liabilities |
14,803 | 10,272 | 11,111 | 11,837 | 13,027 | 11,684 | ||||||||||||||||||
| Shareholders’ equity *** |
3,985 | 3,917 | 3,541 | 2,872 | 3,829 | 3,812 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
10,089 | 10,380 | 10,371 | 10,560 | 11,204 | 11,724 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
10,089 | 10,380 | 10,371 | 10,560 | 11,204 | 11,724 | ||||||||||||||||||
| Pension funds |
— | — | — | 0 | — | — | ||||||||||||||||||
| Managed portfolios |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
36,568 | 38,965 | 38,823 | 39,629 | 40,733 | 41,316 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Chile
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
856 | 816 | 40 | 4.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
160 | 198 | (38 | ) | (19.3 | ) | ||||||||||
| Gains (losses) on financial transactions |
59 | 84 | (25 | ) | (30.1 | ) | ||||||||||
| Other operating income * |
10 | 13 | (3 | ) | (24.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,084 | 1,110 | (27 | ) | (2.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(411 | ) | (477 | ) | 66 | (13.8 | ) | |||||||||
| General administrative expenses |
(377 | ) | (421 | ) | 45 | (10.6 | ) | |||||||||
| Personnel |
(231 | ) | (260 | ) | 29 | (11.3 | ) | |||||||||
| Other general administrative expenses |
(146 | ) | (161 | ) | 15 | (9.4 | ) | |||||||||
| Depreciation and amortisation |
(34 | ) | (56 | ) | 21 | (38.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
672 | 633 | 39 | 6.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(234 | ) | (302 | ) | 68 | (22.5 | ) | |||||||||
| Other income |
(9 | ) | 2 | (12 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
429 | 333 | 96 | 28.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(62 | ) | (45 | ) | (16 | ) | 35.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
367 | 288 | 80 | 27.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
367 | 288 | 80 | 27.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
113 | 87 | 25 | 29.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
255 | 201 | 54 | 27.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
28,701 | 30,085 | (1,383 | ) | (4.6 | ) | ||||||||||
| Trading portfolio (w/o loans) |
2,106 | 1,470 | 636 | 43.2 | ||||||||||||
| Available-for-sale financial assets |
1,796 | 2,368 | (571 | ) | (24.1 | ) | ||||||||||
| Due from credit institutions ** |
2,851 | 3,122 | (271 | ) | (8.7 | ) | ||||||||||
| Intangible assets and property and equipment |
281 | 341 | (59 | ) | (17.4 | ) | ||||||||||
| Other assets |
2,091 | 2,661 | (570 | ) | (21.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
37,826 | 40,046 | (2,220 | ) | (5.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
19,929 | 21,961 | (2,032 | ) | (9.3 | ) | ||||||||||
| Marketable debt securities ** |
6,146 | 6,026 | 119 | 2.0 | ||||||||||||
| Subordinated debt ** |
948 | 1,039 | (91 | ) | (8.8 | ) | ||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
4,643 | 4,691 | (48 | ) | (1.0 | ) | ||||||||||
| Other liabilities |
3,941 | 4,015 | (73 | ) | (1.8 | ) | ||||||||||
| Shareholders’ equity *** |
2,219 | 2,313 | (94 | ) | (4.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
6,346 | 5,686 | 660 | 11.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
4,850 | 4,349 | 500 | 11.5 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
1,496 | 1,337 | 159 | 11.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
33,368 | 34,712 | (1,344 | ) | (3.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
| Ratios (%) and other data |
||||||||||||||||
| ROE |
22.07 | 15.98 | 6.09 p. | |||||||||||||
| Efficiency ratio (with amortisations) |
37.9 | 43.0 | (5.0 p. | ) | ||||||||||||
| NPL ratio |
5.94 | 5.81 | 0.13 p. | |||||||||||||
| NPL coverage |
51.7 | 49.9 | 1.8 p. | |||||||||||||
| Number of employees |
11,971 | 12,132 | (161 | ) | (1.3 | ) | ||||||||||
| Number of branches |
481 | 501 | (20 | ) | (4.0 | ) |
Chile
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
410 | 406 | 446 | 434 | 408 | 447 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
102 | 96 | 87 | 87 | 81 | 78 | ||||||||||||||||||
| Gains (losses) on financial transactions |
31 | 53 | 38 | 45 | 39 | 20 | ||||||||||||||||||
| Other operating income * |
7 | 5 | 2 | (0 | ) | 5 | 5 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
550 | 560 | 573 | 566 | 533 | 551 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(232 | ) | (245 | ) | (231 | ) | (218 | ) | (201 | ) | (210 | ) | ||||||||||||
| General administrative expenses |
(203 | ) | (219 | ) | (203 | ) | (194 | ) | (180 | ) | (197 | ) | ||||||||||||
| Personnel |
(124 | ) | (136 | ) | (126 | ) | (121 | ) | (108 | ) | (123 | ) | ||||||||||||
| Other general administrative expenses |
(78 | ) | (83 | ) | (78 | ) | (73 | ) | (72 | ) | (74 | ) | ||||||||||||
| Depreciation and amortisation |
(29 | ) | (27 | ) | (27 | ) | (24 | ) | (21 | ) | (13 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
319 | 314 | 342 | 348 | 332 | 341 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(155 | ) | (147 | ) | (153 | ) | (142 | ) | (116 | ) | (118 | ) | ||||||||||||
| Other income |
(1 | ) | 3 | 6 | (4 | ) | (7 | ) | (3 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
163 | 170 | 194 | 203 | 209 | 220 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(15 | ) | (30 | ) | (28 | ) | (34 | ) | (33 | ) | (29 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
148 | 140 | 166 | 169 | 176 | 192 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
148 | 140 | 166 | 169 | 176 | 192 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
44 | 43 | 50 | 50 | 53 | 59 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
103 | 97 | 116 | 119 | 123 | 132 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- Including dividends, income from equity-accounted method and other operating income/expenses |
|
|||||||||||||||||||||||
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
31,615 | 30,085 | 29,697 | 28,783 | 27,993 | 28,701 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
1,549 | 1,470 | 1,086 | 1,388 | 1,764 | 2,106 | ||||||||||||||||||
| Available-for-sale financial assets |
3,133 | 2,368 | 2,485 | 2,385 | 2,454 | 1,796 | ||||||||||||||||||
| Due from credit institutions ** |
3,720 | 3,122 | 2,888 | 2,599 | 2,922 | 2,851 | ||||||||||||||||||
| Intangible assets and property and equipment |
376 | 341 | 324 | 327 | 313 | 281 | ||||||||||||||||||
| Other assets |
2,764 | 2,661 | 3,274 | 3,072 | 2,562 | 2,091 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
43,156 | 40,046 | 39,753 | 38,553 | 38,009 | 37,826 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
23,224 | 21,961 | 22,076 | 20,988 | 20,436 | 19,929 | ||||||||||||||||||
| Marketable debt securities ** |
6,461 | 6,026 | 5,949 | 6,022 | 5,399 | 6,146 | ||||||||||||||||||
| Subordinated debt ** |
1,164 | 1,039 | 1,005 | 1,147 | 1,110 | 948 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
5,284 | 4,691 | 4,615 | 4,253 | 4,548 | 4,643 | ||||||||||||||||||
| Other liabilities |
4,174 | 4,015 | 3,894 | 4,021 | 4,041 | 3,941 | ||||||||||||||||||
| Shareholders’ equity *** |
2,849 | 2,313 | 2,213 | 2,122 | 2,476 | 2,219 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
6,286 | 5,686 | 5,670 | 5,469 | 5,864 | 6,346 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
4,844 | 4,349 | 4,290 | 4,067 | 4,427 | 4,850 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
1,442 | 1,337 | 1,380 | 1,402 | 1,437 | 1,496 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
37,135 | 34,712 | 34,700 | 33,626 | 32,808 | 33,368 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
|
|||||||||||||||||||||||
| Other information |
||||||||||||||||||||||||
| NPL ratio |
5.51 | 5.81 | 6.00 | 5.91 | 5.99 | 5.94 | ||||||||||||||||||
| NPL coverage |
53.9 | 49.9 | 49.7 | 51.1 | 50.7 | 51.7 | ||||||||||||||||||
| Cost of credit |
1.95 | 2.00 | 1.96 | 1.92 | 1.82 | 1.76 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spread (Retail Banking) |
6.70 | 6.74 | 6.43 | 6.29 | 6.33 | 6.37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Loan spreads |
4.31 | 4.27 | 4.01 | 3.98 | 3.98 | 4.00 | ||||||||||||||||||
| Deposit spreads |
2.39 | 2.47 | 2.42 | 2.31 | 2.35 | 2.37 | ||||||||||||||||||
Chile
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
856 | 676 | 180 | 26.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
160 | 164 | (4 | ) | (2.6 | ) | ||||||||||
| Gains (losses) on financial transactions |
59 | 70 | (11 | ) | (15.7 | ) | ||||||||||
| Other operating income * |
10 | 11 | (1 | ) | (8.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,084 | 920 | 163 | 17.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(411 | ) | (395 | ) | (16 | ) | 4.0 | |||||||||
| General administrative expenses |
(377 | ) | (349 | ) | (27 | ) | 7.9 | |||||||||
| Personnel |
(231 | ) | (216 | ) | (15 | ) | 7.0 | |||||||||
| Other general administrative expenses |
(146 | ) | (133 | ) | (12 | ) | 9.2 | |||||||||
| Depreciation and amortisation |
(34 | ) | (46 | ) | 12 | (25.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
672 | 525 | 148 | 28.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(234 | ) | (250 | ) | 16 | (6.6 | ) | |||||||||
| Other income |
(9 | ) | 2 | (11 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
429 | 276 | 153 | 55.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(62 | ) | (38 | ) | (24 | ) | 63.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
367 | 238 | 129 | 54.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
367 | 238 | 129 | 54.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
113 | 72 | 40 | 55.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
255 | 166 | 89 | 53.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
28,701 | 26,393 | 2,309 | 8.7 | ||||||||||||
| Trading portfolio (w/o loans) |
2,106 | 1,289 | 816 | 63.3 | ||||||||||||
| Available-for-sale financial assets |
1,796 | 2,077 | (281 | ) | (13.5 | ) | ||||||||||
| Due from credit institutions ** |
2,851 | 2,739 | 112 | 4.1 | ||||||||||||
| Intangible assets and property and equipment |
281 | 299 | (17 | ) | (5.8 | ) | ||||||||||
| Other assets |
2,091 | 2,334 | (244 | ) | (10.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
37,826 | 35,131 | 2,695 | 7.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
19,929 | 19,266 | 663 | 3.4 | ||||||||||||
| Marketable debt securities ** |
6,146 | 5,287 | 859 | 16.2 | ||||||||||||
| Subordinated debt ** |
948 | 912 | 36 | 4.0 | ||||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
4,643 | 4,116 | 527 | 12.8 | ||||||||||||
| Other liabilities |
3,941 | 3,522 | 420 | 11.9 | ||||||||||||
| Shareholders’ equity *** |
2,219 | 2,029 | 190 | 9.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
6,346 | 4,988 | 1,358 | 27.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
4,850 | 3,816 | 1,034 | 27.1 | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
1,496 | 1,173 | 323 | 27.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
33,368 | 30,453 | 2,916 | 9.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Chile
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
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| Net interest income |
337 | 339 | 394 | 400 | 407 | 449 | ||||||||||||||||||
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| Net fees |
84 | 80 | 77 | 81 | 81 | 79 | ||||||||||||||||||
| Gains (losses) on financial transactions |
26 | 44 | 34 | 42 | 39 | 20 | ||||||||||||||||||
| Other operating income * |
6 | 5 | 2 | (0 | ) | 5 | 5 | |||||||||||||||||
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| Gross income |
453 | 467 | 506 | 522 | 531 | 552 | ||||||||||||||||||
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| Operating expenses |
(191 | ) | (205 | ) | (205 | ) | (202 | ) | (200 | ) | (211 | ) | ||||||||||||
| General administrative expenses |
(167 | ) | (183 | ) | (180 | ) | (180 | ) | (179 | ) | (197 | ) | ||||||||||||
| Personnel |
(102 | ) | (114 | ) | (112 | ) | (112 | ) | (108 | ) | (123 | ) | ||||||||||||
| Other general administrative expenses |
(65 | ) | (69 | ) | (69 | ) | (68 | ) | (72 | ) | (74 | ) | ||||||||||||
| Depreciation and amortisation |
(24 | ) | (22 | ) | (24 | ) | (23 | ) | (21 | ) | (13 | ) | ||||||||||||
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| Net operating income |
262 | 262 | 302 | 320 | 331 | 342 | ||||||||||||||||||
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| Net loan-loss provisions |
(127 | ) | (123 | ) | (136 | ) | (131 | ) | (116 | ) | (118 | ) | ||||||||||||
| Other income |
(1 | ) | 3 | 5 | (3 | ) | (7 | ) | (3 | ) | ||||||||||||||
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| Profit before taxes |
134 | 142 | 170 | 186 | 208 | 221 | ||||||||||||||||||
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| Tax on profit |
(13 | ) | (25 | ) | (24 | ) | (31 | ) | (33 | ) | (29 | ) | ||||||||||||
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| Profit from continuing operations |
122 | 117 | 146 | 155 | 175 | 192 | ||||||||||||||||||
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| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
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| Consolidated profit |
122 | 117 | 146 | 155 | 175 | 192 | ||||||||||||||||||
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| Minority interests |
36 | 36 | 44 | 46 | 53 | 60 | ||||||||||||||||||
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| Attributable profit to the Group |
85 | 81 | 102 | 109 | 122 | 132 | ||||||||||||||||||
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| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
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| Customer loans ** |
25,354 | 26,393 | 26,894 | 27,658 | 28,316 | 28,701 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
1,242 | 1,289 | 983 | 1,334 | 1,785 | 2,106 | ||||||||||||||||||
| Available-for-sale financial assets |
2,512 | 2,077 | 2,250 | 2,292 | 2,482 | 1,796 | ||||||||||||||||||
| Due from credit institutions ** |
2,983 | 2,739 | 2,615 | 2,497 | 2,956 | 2,851 | ||||||||||||||||||
| Intangible assets and property and equipment |
301 | 299 | 293 | 314 | 316 | 281 | ||||||||||||||||||
| Other assets |
2,216 | 2,334 | 2,965 | 2,952 | 2,592 | 2,091 | ||||||||||||||||||
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| Total assets/liabilities & shareholders’ equity |
34,609 | 35,131 | 36,001 | 37,046 | 38,447 | 37,826 | ||||||||||||||||||
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| Customer deposits ** |
18,624 | 19,266 | 19,992 | 20,167 | 20,671 | 19,929 | ||||||||||||||||||
| Marketable debt securities ** |
5,181 | 5,287 | 5,388 | 5,786 | 5,461 | 6,146 | ||||||||||||||||||
| Subordinated debt ** |
933 | 912 | 911 | 1,103 | 1,123 | 948 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
4,237 | 4,116 | 4,180 | 4,087 | 4,600 | 4,643 | ||||||||||||||||||
| Other liabilities |
3,347 | 3,522 | 3,527 | 3,864 | 4,087 | 3,941 | ||||||||||||||||||
| Shareholders’ equity *** |
2,285 | 2,029 | 2,005 | 2,039 | 2,504 | 2,219 | ||||||||||||||||||
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| Other managed and marketed customer funds |
5,041 | 4,988 | 5,135 | 5,255 | 5,931 | 6,346 | ||||||||||||||||||
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| Mutual funds |
3,884 | 3,816 | 3,885 | 3,908 | 4,478 | 4,850 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
1,157 | 1,173 | 1,250 | 1,347 | 1,453 | 1,496 | ||||||||||||||||||
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| Managed and marketed customer funds |
29,780 | 30,453 | 31,425 | 32,311 | 33,186 | 33,368 | ||||||||||||||||||
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| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
USA
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
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| Net interest income |
2,237 | 2,035 | 202 | 9.9 | ||||||||||||
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| Net fees |
336 | 286 | 51 | 17.8 | ||||||||||||
| Gains (losses) on financial transactions |
44 | 67 | (23 | ) | (34.5 | ) | ||||||||||
| Other operating income * |
49 | (17 | ) | 66 | — | |||||||||||
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| Gross income |
2,666 | 2,370 | 296 | 12.5 | ||||||||||||
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| Operating expenses |
(949 | ) | (908 | ) | (42 | ) | 4.6 | |||||||||
| General administrative expenses |
(844 | ) | (824 | ) | (21 | ) | 2.5 | |||||||||
| Personnel |
(481 | ) | (480 | ) | (1 | ) | 0.3 | |||||||||
| Other general administrative expenses |
(363 | ) | (344 | ) | (19 | ) | 5.5 | |||||||||
| Depreciation and amortisation |
(105 | ) | (84 | ) | (21 | ) | 25.1 | |||||||||
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| Net operating income |
1,716 | 1,462 | 254 | 17.4 | ||||||||||||
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| Net loan-loss provisions |
(1,046 | ) | (609 | ) | (437 | ) | 71.7 | |||||||||
| Other income |
(5 | ) | (29 | ) | 24 | (81.2 | ) | |||||||||
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| Profit before taxes |
665 | 824 | (159 | ) | (19.3 | ) | ||||||||||
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| Tax on profit |
(199 | ) | (243 | ) | 44 | (18.1 | ) | |||||||||
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| Profit from continuing operations |
466 | 581 | (115 | ) | (19.8 | ) | ||||||||||
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| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
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| Consolidated profit |
466 | 581 | (115 | ) | (19.8 | ) | ||||||||||
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| Minority interests |
109 | 105 | 4 | 4.1 | ||||||||||||
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| Attributable profit to the Group |
356 | 476 | (119 | ) | (25.1 | ) | ||||||||||
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| (*).- Including dividends, income from equity-accounted method and other operating income/expenses |
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| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
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| Customer loans ** |
60,006 | 58,708 | 1,297 | 2.2 | ||||||||||||
| Trading portfolio (w/o loans) |
248 | 249 | (1 | ) | (0.5 | ) | ||||||||||
| Available-for-sale financial assets |
8,228 | 11,399 | (3,171 | ) | (27.8 | ) | ||||||||||
| Due from credit institutions ** |
2,228 | 1,679 | 550 | 32.7 | ||||||||||||
| Intangible assets and property and equipment |
4,594 | 977 | 3,617 | 370.1 | ||||||||||||
| Other assets |
6,559 | 6,367 | 192 | 3.0 | ||||||||||||
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| Total assets/liabilities & shareholders’ equity |
81,864 | 79,380 | 2,484 | 3.1 | ||||||||||||
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| Customer deposits ** |
39,878 | 41,639 | (1,762 | ) | (4.2 | ) | ||||||||||
| Marketable debt securities ** |
14,373 | 10,811 | 3,562 | 32.9 | ||||||||||||
| Subordinated debt ** |
680 | 1,970 | (1,291 | ) | (65.5 | ) | ||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
12,580 | 13,384 | (804 | ) | (6.0 | ) | ||||||||||
| Other liabilities |
5,067 | 3,366 | 1,701 | 50.5 | ||||||||||||
| Shareholders’ equity *** |
9,287 | 8,209 | 1,078 | 13.1 | ||||||||||||
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| Other managed and marketed customer funds |
5,731 | 6,271 | (539 | ) | (8.6 | ) | ||||||||||
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| Mutual funds |
844 | 1,429 | (584 | ) | (40.9 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
4,887 | 4,842 | 45 | 0.9 | ||||||||||||
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| Managed and marketed customer funds |
60,661 | 60,691 | (30 | ) | (0.0 | ) | ||||||||||
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| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
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| Ratios (%) and other data |
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| ROE |
8.11 | 11.71 | (3.60 | p.) | ||||||||||||
| Efficiency ratio (with amortisations) |
35.6 | 38.3 | (2.7 | p.) | ||||||||||||
| NPL ratio |
2.93 | 2.96 | (0.03 | p.) | ||||||||||||
| NPL coverage |
165.0 | 156.5 | 8.5 | p. | ||||||||||||
| Number of employees |
15,594 | 14,642 | 952 | 6.5 | ||||||||||||
| Number of branches |
811 | 835 | (24 | ) | (2.9 | ) | ||||||||||
USA
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
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| Net interest income |
988 | 1,047 | 1,078 | 1,059 | 1,098 | 1,139 | ||||||||||||||||||
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| Net fees |
139 | 146 | 154 | 160 | 164 | 173 | ||||||||||||||||||
| Gains (losses) on financial transactions |
50 | 17 | (10 | ) | 39 | 28 | 15 | |||||||||||||||||
| Other operating income * |
(12 | ) | (5 | ) | 3 | 8 | 16 | 32 | ||||||||||||||||
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| Gross income |
1,165 | 1,205 | 1,225 | 1,267 | 1,306 | 1,359 | ||||||||||||||||||
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| Operating expenses |
(444 | ) | (464 | ) | (481 | ) | (498 | ) | (476 | ) | (473 | ) | ||||||||||||
| General administrative expenses |
(404 | ) | (420 | ) | (432 | ) | (450 | ) | (417 | ) | (428 | ) | ||||||||||||
| Personnel |
(234 | ) | (246 | ) | (244 | ) | (235 | ) | (235 | ) | (247 | ) | ||||||||||||
| Other general administrative expenses |
(170 | ) | (174 | ) | (188 | ) | (215 | ) | (182 | ) | (181 | ) | ||||||||||||
| Depreciation and amortisation |
(40 | ) | (43 | ) | (49 | ) | (48 | ) | (60 | ) | (45 | ) | ||||||||||||
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| Net operating income |
721 | 741 | 744 | 769 | 830 | 886 | ||||||||||||||||||
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| Net loan-loss provisions |
(256 | ) | (353 | ) | (424 | ) | (487 | ) | (547 | ) | (499 | ) | ||||||||||||
| Other income |
(10 | ) | (19 | ) | (29 | ) | (27 | ) | (2 | ) | (3 | ) | ||||||||||||
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| Profit before taxes |
455 | 369 | 291 | 255 | 281 | 384 | ||||||||||||||||||
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| Tax on profit |
(142 | ) | (102 | ) | (74 | ) | (78 | ) | (79 | ) | (120 | ) | ||||||||||||
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| Profit from continuing operations |
313 | 268 | 217 | 177 | 202 | 264 | ||||||||||||||||||
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| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
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| Consolidated profit |
313 | 268 | 217 | 177 | 202 | 264 | ||||||||||||||||||
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| Minority interests |
61 | 44 | 41 | 27 | 44 | 65 | ||||||||||||||||||
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| Attributable profit to the Group |
252 | 224 | 175 | 150 | 158 | 199 | ||||||||||||||||||
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| (*).- Including dividends, income from equity-accounted method and other operating income/expenses |
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| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
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| Customer loans ** |
59,339 | 58,708 | 58,214 | 57,374 | 59,088 | 60,006 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
358 | 249 | 210 | 149 | 127 | 248 | ||||||||||||||||||
| Available-for-sale financial assets |
14,459 | 11,399 | 9,106 | 8,978 | 8,971 | 8,228 | ||||||||||||||||||
| Due from credit institutions ** |
1,964 | 1,679 | 1,878 | 1,649 | 2,065 | 2,228 | ||||||||||||||||||
| Intangible assets and property and equipment |
659 | 977 | 1,553 | 2,144 | 3,245 | 4,594 | ||||||||||||||||||
| Other assets |
4,625 | 6,367 | 6,582 | 6,474 | 5,144 | 6,559 | ||||||||||||||||||
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| Total assets/liabilities & shareholders’ equity |
81,404 | 79,380 | 77,542 | 76,768 | 78,639 | 81,864 | ||||||||||||||||||
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| Customer deposits ** |
43,732 | 41,639 | 39,977 | 39,206 | 39,551 | 39,878 | ||||||||||||||||||
| Marketable debt securities ** |
11,135 | 10,811 | 12,277 | 11,989 | 12,436 | 14,373 | ||||||||||||||||||
| Subordinated debt ** |
2,016 | 1,970 | 1,818 | 1,225 | 683 | 680 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
12,513 | 13,384 | 11,852 | 11,966 | 12,053 | 12,580 | ||||||||||||||||||
| Other liabilities |
3,425 | 3,366 | 3,545 | 4,464 | 4,725 | 5,067 | ||||||||||||||||||
| Shareholders’ equity *** |
8,585 | 8,209 | 8,072 | 7,918 | 9,192 | 9,287 | ||||||||||||||||||
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| Other managed and marketed customer funds |
6,303 | 6,271 | 5,558 | 5,392 | 5,356 | 5,731 | ||||||||||||||||||
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| Mutual funds |
1,360 | 1,429 | 886 | 807 | 843 | 844 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
4,943 | 4,842 | 4,672 | 4,585 | 4,514 | 4,887 | ||||||||||||||||||
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| Managed and marketed customer funds |
63,184 | 60,691 | 59,630 | 57,811 | 58,025 | 60,661 | ||||||||||||||||||
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| (**).- Including all on-balance sheet balances for this item (***).- Not including profit of the year |
|
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| Other information |
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| NPL ratio |
3.01 | 2.96 | 3.04 | 3.09 | 2.88 | 2.93 | ||||||||||||||||||
| NPL coverage |
149.6 | 156.5 | 148.9 | 148.1 | 163.3 | 165.0 | ||||||||||||||||||
| Cost of credit |
1.89 | 1.95 | 2.17 | 2.48 | 2.94 | 3.15 | ||||||||||||||||||
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| Spread (Retail Banking) |
2.85 | 2.85 | 3.09 | 2.90 | 3.17 | 3.22 | ||||||||||||||||||
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| Loan spreads |
2.51 | 2.52 | 2.52 | 2.49 | 2.44 | 2.57 | ||||||||||||||||||
| Deposit spreads |
0.34 | 0.33 | 0.57 | 0.41 | 0.73 | 0.65 | ||||||||||||||||||
USA
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,237 | 1,949 | 288 | 14.8 | ||||||||||||
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|||||||||
| Net fees |
336 | 274 | 63 | 22.9 | ||||||||||||
| Gains (losses) on financial transactions |
44 | 64 | (20 | ) | (31.6 | ) | ||||||||||
| Other operating income * |
49 | (16 | ) | 65 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,666 | 2,270 | 395 | 17.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(949 | ) | (870 | ) | (80 | ) | 9.2 | |||||||||
| General administrative expenses |
(844 | ) | (789 | ) | (55 | ) | 7.0 | |||||||||
| Personnel |
(481 | ) | (460 | ) | (22 | ) | 4.7 | |||||||||
| Other general administrative expenses |
(363 | ) | (330 | ) | (34 | ) | 10.2 | |||||||||
| Depreciation and amortisation |
(105 | ) | (80 | ) | (25 | ) | 30.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,716 | 1,401 | 316 | 22.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,046 | ) | (583 | ) | (462 | ) | 79.2 | |||||||||
| Other income |
(5 | ) | (28 | ) | 22 | (80.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
665 | 790 | (124 | ) | (15.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(199 | ) | (233 | ) | 34 | (14.5 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
466 | 556 | (91 | ) | (16.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
466 | 556 | (91 | ) | (16.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
109 | 101 | 9 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
356 | 456 | (99 | ) | (21.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
60,006 | 56,224 | 3,782 | 6.7 | ||||||||||||
| Trading portfolio (w/o loans) |
248 | 239 | 9 | 3.9 | ||||||||||||
| Available-for-sale financial assets |
8,228 | 10,917 | (2,688 | ) | (24.6 | ) | ||||||||||
| Due from credit institutions ** |
2,228 | 1,608 | 621 | 38.6 | ||||||||||||
| Intangible assets and property and equipment |
4,594 | 936 | 3,658 | 390.9 | ||||||||||||
| Other assets |
6,559 | 6,098 | 462 | 7.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
81,864 | 76,020 | 5,843 | 7.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
39,878 | 39,877 | 1 | 0.0 | ||||||||||||
| Marketable debt securities ** |
14,373 | 10,354 | 4,019 | 38.8 | ||||||||||||
| Subordinated debt ** |
680 | 1,887 | (1,207 | ) | (64.0 | ) | ||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
12,580 | 12,818 | (238 | ) | (1.9 | ) | ||||||||||
| Other liabilities |
5,067 | 3,223 | 1,844 | 57.2 | ||||||||||||
| Shareholders’ equity *** |
9,287 | 7,862 | 1,425 | 18.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
5,731 | 6,005 | (274 | ) | (4.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
844 | 1,368 | (524 | ) | (38.3 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
4,887 | 4,637 | 250 | 5.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
60,661 | 58,123 | 2,538 | 4.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
USA
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
952 | 997 | 1,041 | 1,051 | 1,097 | 1,140 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
134 | 139 | 149 | 159 | 164 | 173 | ||||||||||||||||||
| Gains (losses) on financial transactions |
48 | 16 | (9 | ) | 38 | 28 | 16 | |||||||||||||||||
| Other operating income * |
(11 | ) | (5 | ) | 3 | 8 | 16 | 32 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,122 | 1,148 | 1,183 | 1,256 | 1,306 | 1,360 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(428 | ) | (442 | ) | (465 | ) | (493 | ) | (476 | ) | (473 | ) | ||||||||||||
| General administrative expenses |
(389 | ) | (400 | ) | (417 | ) | (446 | ) | (416 | ) | (428 | ) | ||||||||||||
| Personnel |
(225 | ) | (235 | ) | (235 | ) | (233 | ) | (234 | ) | (247 | ) | ||||||||||||
| Other general administrative expenses |
(164 | ) | (166 | ) | (182 | ) | (213 | ) | (182 | ) | (181 | ) | ||||||||||||
| Depreciation and amortisation |
(39 | ) | (41 | ) | (48 | ) | (47 | ) | (60 | ) | (45 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
695 | 706 | 719 | 763 | 830 | 887 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(246 | ) | (337 | ) | (409 | ) | (480 | ) | (546 | ) | (499 | ) | ||||||||||||
| Other income |
(10 | ) | (18 | ) | (28 | ) | (27 | ) | (2 | ) | (3 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
438 | 351 | 281 | 256 | 281 | 384 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(137 | ) | (97 | ) | (72 | ) | (78 | ) | (79 | ) | (120 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
302 | 255 | 210 | 178 | 202 | 264 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
302 | 255 | 210 | 178 | 202 | 264 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
59 | 42 | 40 | 27 | 44 | 66 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
243 | 213 | 170 | 150 | 158 | 199 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
55,633 | 56,224 | 57,562 | 57,933 | 59,650 | 60,006 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
336 | 239 | 207 | 150 | 128 | 248 | ||||||||||||||||||
| Available-for-sale financial assets |
13,556 | 10,917 | 9,004 | 9,066 | 9,056 | 8,228 | ||||||||||||||||||
| Due from credit institutions ** |
1,841 | 1,608 | 1,857 | 1,665 | 2,084 | 2,228 | ||||||||||||||||||
| Intangible assets and property and equipment |
618 | 936 | 1,535 | 2,165 | 3,276 | 4,594 | ||||||||||||||||||
| Other assets |
4,336 | 6,098 | 6,508 | 6,537 | 5,193 | 6,559 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
76,320 | 76,020 | 76,674 | 77,516 | 79,387 | 81,864 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
41,001 | 39,877 | 39,529 | 39,587 | 39,927 | 39,878 | ||||||||||||||||||
| Marketable debt securities ** |
10,439 | 10,354 | 12,140 | 12,106 | 12,554 | 14,373 | ||||||||||||||||||
| Subordinated debt ** |
1,890 | 1,887 | 1,798 | 1,236 | 689 | 680 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
11,731 | 12,818 | 11,720 | 12,082 | 12,168 | 12,580 | ||||||||||||||||||
| Other liabilities |
3,211 | 3,223 | 3,505 | 4,508 | 4,770 | 5,067 | ||||||||||||||||||
| Shareholders’ equity *** |
8,049 | 7,862 | 7,982 | 7,995 | 9,280 | 9,287 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
5,909 | 6,005 | 5,496 | 5,444 | 5,407 | 5,731 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
1,275 | 1,368 | 876 | 815 | 851 | 844 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
4,634 | 4,637 | 4,619 | 4,630 | 4,557 | 4,887 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
59,238 | 58,123 | 58,962 | 58,374 | 58,578 | 60,661 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
USA
US$ million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
3,065 | 2,671 | 395 | 14.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
461 | 375 | 86 | 22.9 | ||||||||||||
| Gains (losses) on financial transactions |
60 | 88 | (28 | ) | (31.6 | ) | ||||||||||
| Other operating income * |
67 | (22 | ) | 89 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
3,653 | 3,111 | 542 | 17.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,301 | ) | (1,192 | ) | (109 | ) | 9.2 | |||||||||
| General administrative expenses |
(1,157 | ) | (1,082 | ) | (76 | ) | 7.0 | |||||||||
| Personnel |
(660 | ) | (630 | ) | (30 | ) | 4.7 | |||||||||
| Other general administrative expenses |
(498 | ) | (452 | ) | (46 | ) | 10.2 | |||||||||
| Depreciation and amortisation |
(144 | ) | (110 | ) | (34 | ) | 30.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
2,352 | 1,919 | 432 | 22.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,433 | ) | (799 | ) | (633 | ) | 79.2 | |||||||||
| Other income |
(7 | ) | (38 | ) | 31 | (80.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
912 | 1,082 | (170 | ) | (15.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(273 | ) | (320 | ) | 46 | (14.5 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
638 | 762 | (124 | ) | (16.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
638 | 762 | (124 | ) | (16.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
150 | 138 | 12 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
488 | 624 | (136 | ) | (21.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Customer loans ** |
81,956 | 76,791 | 5,165 | 6.7 | ||||||||||||
| Trading portfolio (w/o loans) |
339 | 326 | 13 | 3.9 | ||||||||||||
| Available-for-sale financial assets |
11,238 | 14,910 | (3,672 | ) | (24.6 | ) | ||||||||||
| Due from credit institutions ** |
3,043 | 2,196 | 848 | 38.6 | ||||||||||||
| Intangible assets and property and equipment |
6,274 | 1,278 | 4,996 | 390.9 | ||||||||||||
| Other assets |
8,959 | 8,328 | 631 | 7.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
111,809 | 103,829 | 7,981 | 7.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits ** |
54,465 | 54,464 | 1 | 0.0 | ||||||||||||
| Marketable debt securities ** |
19,630 | 14,141 | 5,489 | 38.8 | ||||||||||||
| Subordinated debt ** |
928 | 2,577 | (1,649 | ) | (64.0 | ) | ||||||||||
| Insurance liabilities |
— | — | — | — | ||||||||||||
| Due to credit institutions ** |
17,182 | 17,506 | (325 | ) | (1.9 | ) | ||||||||||
| Other liabilities |
6,920 | 4,402 | 2,518 | 57.2 | ||||||||||||
| Shareholders’ equity *** |
12,684 | 10,738 | 1,946 | 18.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
7,828 | 8,202 | (374 | ) | (4.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
1,153 | 1,869 | (716 | ) | (38.3 | ) | ||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
6,675 | 6,333 | 341 | 5.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
82,851 | 79,384 | 3,467 | 4.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
USA
US$ million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,304 | 1,367 | 1,427 | 1,440 | 1,504 | 1,562 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
184 | 191 | 204 | 218 | 224 | 237 | ||||||||||||||||||
| Gains (losses) on financial transactions |
66 | 22 | (13 | ) | 52 | 39 | 21 | |||||||||||||||||
| Other operating income * |
(16 | ) | (7 | ) | 4 | 11 | 22 | 44 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,538 | 1,573 | 1,622 | 1,721 | 1,789 | 1,864 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(586 | ) | (605 | ) | (637 | ) | (676 | ) | (652 | ) | (649 | ) | ||||||||||||
| General administrative expenses |
(533 | ) | (549 | ) | (571 | ) | (611 | ) | (571 | ) | (587 | ) | ||||||||||||
| Personnel |
(308 | ) | (322 | ) | (323 | ) | (319 | ) | (321 | ) | (338 | ) | ||||||||||||
| Other general administrative expenses |
(225 | ) | (227 | ) | (249 | ) | (292 | ) | (249 | ) | (248 | ) | ||||||||||||
| Depreciation and amortisation |
(53 | ) | (57 | ) | (65 | ) | (65 | ) | (82 | ) | (62 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
952 | 968 | 985 | 1,045 | 1,137 | 1,215 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(337 | ) | (462 | ) | (561 | ) | (657 | ) | (749 | ) | (684 | ) | ||||||||||||
| Other income |
(14 | ) | (24 | ) | (38 | ) | (37 | ) | (3 | ) | (4 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
601 | 481 | 386 | 351 | 385 | 527 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(187 | ) | (132 | ) | (98 | ) | (107 | ) | (108 | ) | (165 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
413 | 349 | 288 | 244 | 276 | 362 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
413 | 349 | 288 | 244 | 276 | 362 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
81 | 57 | 55 | 38 | 60 | 90 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
333 | 292 | 233 | 206 | 216 | 272 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Customer loans ** |
75,983 | 76,791 | 78,618 | 79,125 | 81,470 | 81,956 | ||||||||||||||||||
| Trading portfolio (w/o loans) |
458 | 326 | 283 | 205 | 174 | 339 | ||||||||||||||||||
| Available-for-sale financial assets |
18,515 | 14,910 | 12,298 | 12,382 | 12,369 | 11,238 | ||||||||||||||||||
| Due from credit institutions ** |
2,515 | 2,196 | 2,536 | 2,274 | 2,847 | 3,043 | ||||||||||||||||||
| Intangible assets and property and equipment |
844 | 1,278 | 2,097 | 2,956 | 4,475 | 6,274 | ||||||||||||||||||
| Other assets |
5,923 | 8,328 | 8,888 | 8,928 | 7,092 | 8,959 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
104,238 | 103,829 | 104,721 | 105,871 | 108,427 | 111,809 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits ** |
55,998 | 54,464 | 53,988 | 54,069 | 54,532 | 54,465 | ||||||||||||||||||
| Marketable debt securities ** |
14,258 | 14,141 | 16,581 | 16,535 | 17,146 | 19,630 | ||||||||||||||||||
| Subordinated debt ** |
2,581 | 2,577 | 2,456 | 1,689 | 941 | 928 | ||||||||||||||||||
| Insurance liabilities |
— | — | — | — | — | — | ||||||||||||||||||
| Due to credit institutions ** |
16,022 | 17,506 | 16,007 | 16,502 | 16,619 | 17,182 | ||||||||||||||||||
| Other liabilities |
4,386 | 4,402 | 4,787 | 6,157 | 6,514 | 6,920 | ||||||||||||||||||
| Shareholders’ equity *** |
10,993 | 10,738 | 10,902 | 10,920 | 12,674 | 12,684 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
8,070 | 8,202 | 7,506 | 7,436 | 7,385 | 7,828 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
1,741 | 1,869 | 1,197 | 1,112 | 1,162 | 1,153 | ||||||||||||||||||
| Pension funds |
— | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
6,329 | 6,333 | 6,309 | 6,323 | 6,224 | 6,675 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
80,908 | 79,384 | 80,531 | 79,728 | 80,005 | 82,851 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (**).- | Including all on-balance sheet balances for this item |
| (***).- | Not including profit of the year |
Corporate Activities
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
(1,023 | ) | (1,083 | ) | 60 | (5.6 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
(14 | ) | (31 | ) | 17 | (54.5 | ) | |||||||||
| Gains (losses) on financial transactions |
550 | 590 | (40 | ) | (6.8 | ) | ||||||||||
| Other operating income |
25 | 64 | (38 | ) | (60.2 | ) | ||||||||||
| Dividends |
15 | 8 | 6 | 77.3 | ||||||||||||
| Income from equity-accounted method |
(15 | ) | (6 | ) | (10 | ) | 167.1 | |||||||||
| Other operating income/expenses |
26 | 61 | (35 | ) | (57.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
(461 | ) | (460 | ) | (2 | ) | 0.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(389 | ) | (353 | ) | (36 | ) | 10.2 | |||||||||
| General administrative expenses |
(320 | ) | (284 | ) | (36 | ) | 12.7 | |||||||||
| Personnel |
(129 | ) | (131 | ) | 2 | (1.5 | ) | |||||||||
| Other general administrative expenses |
(192 | ) | (153 | ) | (38 | ) | 24.9 | |||||||||
| Depreciation and amortisation |
(69 | ) | (69 | ) | 0 | (0.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
(850 | ) | (812 | ) | (37 | ) | 4.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
0 | (218 | ) | 218 | — | |||||||||||
| Other income |
(139 | ) | (155 | ) | 16 | (10.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit before taxes |
(989 | ) | (1,185 | ) | 196 | (16.5 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
137 | 121 | 16 | 13.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary profit from continuing operations |
(852 | ) | (1,064 | ) | 212 | (19.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary consolidated profit |
(852 | ) | (1,064 | ) | 212 | (19.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
(3 | ) | (2 | ) | (1 | ) | 43.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Ordinary attributable profit to the Group |
(849 | ) | (1,062 | ) | 213 | (20.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net capital gains and provisions |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
(849 | ) | (1,062 | ) | 213 | (20.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Balance sheet |
||||||||||||||||
| Trading portfolio (w/o loans) |
3,297 | 5,291 | (1,994 | ) | (37.7 | ) | ||||||||||
| Available-for-sale financial assets |
6,863 | 22,492 | (15,629 | ) | (69.5 | ) | ||||||||||
| Investments |
542 | 206 | 336 | 163.2 | ||||||||||||
| Goodwill |
26,663 | 24,910 | 1,753 | 7.0 | ||||||||||||
| Liquidity lent to the Group |
24,882 | 30,605 | (5,723 | ) | (18.7 | ) | ||||||||||
| Capital assigned to Group areas |
70,229 | 70,103 | 126 | 0.2 | ||||||||||||
| Other assets |
53,467 | 57,661 | (4,194 | ) | (7.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total assets/liabilities & shareholders’ equity |
185,943 | 211,269 | (25,326 | ) | (12.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Customer deposits * |
1,563 | 7,658 | (6,095 | ) | (79.6 | ) | ||||||||||
| Marketable debt securities * |
60,754 | 73,211 | (12,457 | ) | (17.0 | ) | ||||||||||
| Subordinated debt |
5,263 | 4,412 | 851 | 19.3 | ||||||||||||
| Other liabilities |
34,084 | 45,040 | (10,956 | ) | (24.3 | ) | ||||||||||
| Group capital and reserves ** |
84,279 | 80,947 | 3,332 | 4.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other managed and marketed customer funds |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Mutual funds |
— | — | — | — | ||||||||||||
| Pension funds |
— | — | — | — | ||||||||||||
| Managed portfolios |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Managed and marketed customer funds |
67,580 | 85,282 | (17,702 | ) | (20.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(*).- Including all on-balance sheet balances for this item |
||||||||||||||||
| (**).- Not including profit of the year
|
||||||||||||||||
| Resources |
||||||||||||||||
| Number of employees |
2,556 | 2,567 | (11 | ) | (0.4 | ) | ||||||||||
Corporate Activities
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
(576 | ) | (507 | ) | (523 | ) | (617 | ) | (534 | ) | (489 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
(12 | ) | (19 | ) | (18 | ) | (1 | ) | (8 | ) | (6 | ) | ||||||||||||
| Gains (losses) on financial transactions |
231 | 359 | 331 | 265 | 302 | 248 | ||||||||||||||||||
| Other operating income |
35 | 29 | 47 | 39 | 16 | 10 | ||||||||||||||||||
| Dividends |
4 | 4 | 23 | 4 | 5 | 10 | ||||||||||||||||||
| Income from equity-accounted method |
(3 | ) | (3 | ) | (6 | ) | 1 | 0 | (15 | ) | ||||||||||||||
| Other operating income/expenses |
34 | 27 | 30 | 34 | 10 | 15 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
(322 | ) | (138 | ) | (163 | ) | (314 | ) | (224 | ) | (237 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(177 | ) | (176 | ) | (176 | ) | (167 | ) | (191 | ) | (197 | ) | ||||||||||||
| General administrative expenses |
(155 | ) | (129 | ) | (158 | ) | (113 | ) | (164 | ) | (156 | ) | ||||||||||||
| Personnel |
(68 | ) | (63 | ) | (37 | ) | (53 | ) | (67 | ) | (62 | ) | ||||||||||||
| Other general administrative expenses |
(88 | ) | (66 | ) | (120 | ) | (60 | ) | (97 | ) | (94 | ) | ||||||||||||
| Depreciation and amortisation |
(21 | ) | (47 | ) | (18 | ) | (54 | ) | (27 | ) | (41 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
(499 | ) | (314 | ) | (339 | ) | (482 | ) | (416 | ) | (434 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(29 | ) | (189 | ) | 14 | 2 | 1 | (1 | ) | |||||||||||||||
| Other income |
(66 | ) | (89 | ) | (124 | ) | 106 | (72 | ) | (67 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit before taxes |
(594 | ) | (591 | ) | (448 | ) | (374 | ) | (487 | ) | (502 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
51 | 71 | 17 | (0 | ) | 79 | 59 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary profit from continuing operations |
(543 | ) | (521 | ) | (432 | ) | (374 | ) | (408 | ) | (444 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | (0 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary consolidated profit |
(543 | ) | (521 | ) | (432 | ) | (374 | ) | (408 | ) | (444 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
(0 | ) | (2 | ) | (2 | ) | 11 | (3 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ordinary attributable profit to the Group |
(543 | ) | (519 | ) | (430 | ) | (384 | ) | (405 | ) | (444 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net capital gains and provisions |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
(543 | ) | (519 | ) | (430 | ) | (384 | ) | (405 | ) | (444 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Balance sheet |
||||||||||||||||||||||||
| Trading portfolio (w/o loans) |
6,167 | 5,291 | 4,772 | 2,743 | 2,947 | 3,297 | ||||||||||||||||||
| Available-for-sale financial assets |
17,521 | 22,492 | 18,655 | 10,676 | 6,892 | 6,863 | ||||||||||||||||||
| Investments |
83 | 206 | 237 | 477 | 276 | 542 | ||||||||||||||||||
| Goodwill |
26,124 | 24,910 | 24,729 | 24,254 | 26,056 | 26,663 | ||||||||||||||||||
| Liquidity lent to the Group |
26,732 | 30,605 | 23,866 | 17,712 | 28,985 | 24,882 | ||||||||||||||||||
| Capital assigned to Group areas |
74,035 | 70,103 | 67,927 | 65,088 | 70,542 | 70,229 | ||||||||||||||||||
| Other assets |
72,248 | 57,661 | 62,225 | 61,755 | 49,007 | 53,467 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total assets/liabilities & shareholders’ equity |
222,911 | 211,269 | 202,411 | 182,704 | 184,706 | 185,943 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Customer deposits* |
3,940 | 7,658 | 4,916 | 2,851 | 1,379 | 1,563 | ||||||||||||||||||
| Marketable debt securities* |
78,308 | 73,211 | 69,149 | 64,470 | 62,102 | 60,754 | ||||||||||||||||||
| Subordinated debt |
4,471 | 4,412 | 4,593 | 3,871 | 4,173 | 5,263 | ||||||||||||||||||
| Other liabilities |
55,239 | 45,040 | 42,888 | 30,736 | 32,724 | 34,084 | ||||||||||||||||||
| Group capital and reserves** |
80,953 | 80,947 | 80,866 | 80,776 | 84,328 | 84,279 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Other managed and marketed customer funds |
0 | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Mutual funds |
— | — | — | — | — | — | ||||||||||||||||||
| Pension funds |
0 | — | — | — | — | — | ||||||||||||||||||
| Managed portfolios |
0 | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Managed and marketed customer funds |
86,719 | 85,282 | 78,657 | 71,192 | 67,654 | 67,580 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including all on-balance sheet balances for this item |
| (**).- | Not including profit of the year |
Retail Banking
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
13,925 | 14,145 | (220 | ) | (1.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
3,744 | 4,024 | (280 | ) | (7.0 | ) | ||||||||||
| Gains (losses) on financial transactions |
187 | 706 | (519 | ) | (73.5 | ) | ||||||||||
| Other operating income * |
(108 | ) | (183 | ) | 75 | (40.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
17,749 | 18,693 | (944 | ) | (5.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(8,087 | ) | (8,535 | ) | 447 | (5.2 | ) | |||||||||
| General administrative expenses |
(7,152 | ) | (7,554 | ) | 402 | (5.3 | ) | |||||||||
| Personnel |
(4,156 | ) | (4,412 | ) | 256 | (5.8 | ) | |||||||||
| Other general administrative expenses |
(2,996 | ) | (3,141 | ) | 146 | (4.6 | ) | |||||||||
| Depreciation and amortisation |
(935 | ) | (981 | ) | 46 | (4.6 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
9,661 | 10,158 | (497 | ) | (4.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(4,858 | ) | (5,818 | ) | 960 | (16.5 | ) | |||||||||
| Other income |
(605 | ) | (491 | ) | (114 | ) | 23.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
4,198 | 3,849 | 349 | 9.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,033 | ) | (826 | ) | (208 | ) | 25.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
3,164 | 3,023 | 141 | 4.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (14 | ) | 14 | (98.2 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
3,164 | 3,009 | 155 | 5.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
472 | 536 | (64 | ) | (11.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
2,692 | 2,473 | 219 | 8.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Business volumes |
||||||||||||||||
| Customer loans |
609,679 | 599,271 | 10,408 | 1.7 | ||||||||||||
| Customer deposits |
508,459 | 521,124 | (12,665 | ) | (2.4 | ) | ||||||||||
Retail Banking
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
7,019 | 7,126 | 6,816 | 6,784 | 6,826 | 7,099 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
1,995 | 2,029 | 1,896 | 1,897 | 1,855 | 1,889 | ||||||||||||||||||
| Gains (losses) on financial transactions |
372 | 334 | 214 | 191 | 107 | 80 | ||||||||||||||||||
| Other operating income * |
(108 | ) | (75 | ) | (79 | ) | (69 | ) | (81 | ) | (26 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
9,279 | 9,414 | 8,847 | 8,803 | 8,707 | 9,041 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(4,265 | ) | (4,270 | ) | (4,144 | ) | (4,269 | ) | (4,022 | ) | (4,065 | ) | ||||||||||||
| General administrative expenses |
(3,778 | ) | (3,776 | ) | (3,659 | ) | (3,730 | ) | (3,523 | ) | (3,629 | ) | ||||||||||||
| Personnel |
(2,212 | ) | (2,201 | ) | (2,103 | ) | (2,170 | ) | (2,049 | ) | (2,107 | ) | ||||||||||||
| Other general administrative expenses |
(1,566 | ) | (1,575 | ) | (1,557 | ) | (1,559 | ) | (1,475 | ) | (1,521 | ) | ||||||||||||
| Depreciation and amortisation |
(487 | ) | (494 | ) | (485 | ) | (539 | ) | (499 | ) | (437 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
5,013 | 5,145 | 4,703 | 4,534 | 4,685 | 4,976 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(2,827 | ) | (2,991 | ) | (2,483 | ) | (2,573 | ) | (2,486 | ) | (2,372 | ) | ||||||||||||
| Other income |
(171 | ) | (320 | ) | (261 | ) | (305 | ) | (267 | ) | (338 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
2,015 | 1,834 | 1,959 | 1,656 | 1,932 | 2,266 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(441 | ) | (385 | ) | (471 | ) | (381 | ) | (472 | ) | (561 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
1,574 | 1,449 | 1,489 | 1,275 | 1,460 | 1,704 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | (1 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
1,574 | 1,435 | 1,488 | 1,274 | 1,460 | 1,704 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
297 | 238 | 234 | 182 | 217 | 254 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,277 | 1,196 | 1,254 | 1,092 | 1,242 | 1,450 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Business volumes |
||||||||||||||||||||||||
| Customer loans |
627,341 | 599,271 | 595,423 | 583,915 | 594,689 | 609,679 | ||||||||||||||||||
| Customer deposits |
537,261 | 521,124 | 520,638 | 508,237 | 515,856 | 508,459 | ||||||||||||||||||
Retail Banking
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
13,925 | 12,984 | 942 | 7.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
3,744 | 3,693 | 51 | 1.4 | ||||||||||||
| Gains (losses) on financial transactions |
187 | 659 | (472 | ) | (71.6 | ) | ||||||||||
| Other operating income * |
(108 | ) | (170 | ) | 62 | (36.6 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
17,749 | 17,165 | 583 | 3.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(8,087 | ) | (7,919 | ) | (168 | ) | 2.1 | |||||||||
| General administrative expenses |
(7,152 | ) | (7,001 | ) | (151 | ) | 2.2 | |||||||||
| Personnel |
(4,156 | ) | (4,110 | ) | (46 | ) | 1.1 | |||||||||
| Other general administrative expenses |
(2,996 | ) | (2,891 | ) | (105 | ) | 3.6 | |||||||||
| Depreciation and amortisation |
(935 | ) | (918 | ) | (17 | ) | 1.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
9,661 | 9,246 | 415 | 4.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(4,858 | ) | (5,276 | ) | 417 | (7.9 | ) | |||||||||
| Other income |
(605 | ) | (458 | ) | (148 | ) | 32.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
4,198 | 3,513 | 685 | 19.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(1,033 | ) | (748 | ) | (285 | ) | 38.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
3,164 | 2,765 | 399 | 14.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (15 | ) | 14 | (98.3 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
3,164 | 2,751 | 413 | 15.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
472 | 481 | (9 | ) | (1.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
2,692 | 2,270 | 423 | 18.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Business volumes |
||||||||||||||||
| Customer loans |
609,679 | 604,857 | 4,822 | 0.8 | ||||||||||||
| Customer deposits |
508,459 | 526,097 | (17,638 | ) | (3.4 | ) | ||||||||||
Retail Banking
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
6,417 | 6,567 | 6,637 | 6,703 | 6,892 | 7,034 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
1,825 | 1,868 | 1,838 | 1,855 | 1,871 | 1,873 | ||||||||||||||||||
| Gains (losses) on financial transactions |
330 | 328 | 204 | 185 | 107 | 80 | ||||||||||||||||||
| Other operating income * |
(101 | ) | (69 | ) | (78 | ) | (67 | ) | (82 | ) | (26 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
8,471 | 8,694 | 8,600 | 8,676 | 8,787 | 8,961 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(3,950 | ) | (3,969 | ) | (4,028 | ) | (4,194 | ) | (4,055 | ) | (4,032 | ) | ||||||||||||
| General administrative expenses |
(3,495 | ) | (3,506 | ) | (3,553 | ) | (3,661 | ) | (3,552 | ) | (3,600 | ) | ||||||||||||
| Personnel |
(2,056 | ) | (2,054 | ) | (2,047 | ) | (2,137 | ) | (2,065 | ) | (2,092 | ) | ||||||||||||
| Other general administrative expenses |
(1,439 | ) | (1,453 | ) | (1,506 | ) | (1,524 | ) | (1,488 | ) | (1,508 | ) | ||||||||||||
| Depreciation and amortisation |
(455 | ) | (463 | ) | (475 | ) | (534 | ) | (503 | ) | (433 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
4,522 | 4,725 | 4,572 | 4,481 | 4,732 | 4,929 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(2,537 | ) | (2,738 | ) | (2,417 | ) | (2,549 | ) | (2,514 | ) | (2,345 | ) | ||||||||||||
| Other income |
(158 | ) | (300 | ) | (248 | ) | (292 | ) | (272 | ) | (334 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
1,826 | 1,687 | 1,907 | 1,641 | 1,947 | 2,250 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(397 | ) | (351 | ) | (453 | ) | (375 | ) | (476 | ) | (557 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
1,429 | 1,336 | 1,454 | 1,266 | 1,471 | 1,693 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (15 | ) | (0 | ) | (0 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
1,429 | 1,321 | 1,453 | 1,265 | 1,471 | 1,693 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
265 | 216 | 226 | 179 | 219 | 252 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
1,164 | 1,105 | 1,228 | 1,086 | 1,251 | 1,441 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Business volumes |
||||||||||||||||||||||||
| Customer loans |
617,644 | 604,857 | 601,569 | 596,091 | 605,515 | 609,679 | ||||||||||||||||||
| Customer deposits |
529,377 | 526,097 | 526,339 | 518,610 | 525,143 | 508,459 | ||||||||||||||||||
Retail Banking Continental Europe
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
3,668 | 3,329 | 339 | 10.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,304 | 1,395 | (91 | ) | (6.5 | ) | ||||||||||
| Gains (losses) on financial transactions |
86 | 181 | (95 | ) | (52.7 | ) | ||||||||||
| Other operating income * |
(102 | ) | (97 | ) | (6 | ) | 5.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
4,956 | 4,809 | 147 | 3.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(2,565 | ) | (2,659 | ) | 94 | (3.5 | ) | |||||||||
| General administrative expenses |
(2,288 | ) | (2,367 | ) | 79 | (3.3 | ) | |||||||||
| Personnel |
(1,387 | ) | (1,472 | ) | 85 | (5.8 | ) | |||||||||
| Other general administrative expenses |
(902 | ) | (895 | ) | (6 | ) | 0.7 | |||||||||
| Depreciation and amortisation |
(277 | ) | (292 | ) | 15 | (5.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
2,391 | 2,150 | 241 | 11.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,194 | ) | (1,480 | ) | 286 | (19.3 | ) | |||||||||
| Other income |
(157 | ) | (124 | ) | (33 | ) | 27.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,039 | 545 | 494 | 90.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(240 | ) | (98 | ) | (142 | ) | 145.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
800 | 448 | 352 | 78.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | (0 | ) | 108.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
799 | 448 | 352 | 78.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
69 | 69 | 1 | 1.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
730 | 379 | 351 | 92.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Continental Europe
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,614 | 1,715 | 1,692 | 1,701 | 1,793 | 1,875 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
685 | 710 | 682 | 637 | 661 | 643 | ||||||||||||||||||
| Gains (losses) on financial transactions |
70 | 111 | 106 | 39 | 37 | 48 | ||||||||||||||||||
| Other operating income * |
(56 | ) | (40 | ) | (53 | ) | (52 | ) | (53 | ) | (50 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
2,313 | 2,496 | 2,426 | 2,326 | 2,439 | 2,517 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,351 | ) | (1,308 | ) | (1,309 | ) | (1,333 | ) | (1,296 | ) | (1,269 | ) | ||||||||||||
| General administrative expenses |
(1,206 | ) | (1,161 | ) | (1,164 | ) | (1,162 | ) | (1,147 | ) | (1,141 | ) | ||||||||||||
| Personnel |
(747 | ) | (725 | ) | (719 | ) | (736 | ) | (700 | ) | (686 | ) | ||||||||||||
| Other general administrative expenses |
(459 | ) | (436 | ) | (444 | ) | (426 | ) | (447 | ) | (455 | ) | ||||||||||||
| Depreciation and amortisation |
(145 | ) | (147 | ) | (145 | ) | (171 | ) | (149 | ) | (128 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
962 | 1,188 | 1,117 | 993 | 1,143 | 1,248 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(634 | ) | (846 | ) | (499 | ) | (635 | ) | (594 | ) | (601 | ) | ||||||||||||
| Other income |
(64 | ) | (60 | ) | (65 | ) | (16 | ) | (62 | ) | (95 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
264 | 281 | 553 | 341 | 487 | 552 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(50 | ) | (48 | ) | (132 | ) | (84 | ) | (104 | ) | (135 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
214 | 233 | 422 | 257 | 383 | 417 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (0 | ) | (0 | ) | (6 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
214 | 233 | 422 | 251 | 383 | 417 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
28 | 41 | 44 | 20 | 34 | 35 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
187 | 192 | 378 | 232 | 349 | 381 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Continental Europe
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
3,668 | 3,315 | 353 | 10.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,304 | 1,394 | (90 | ) | (6.5 | ) | ||||||||||
| Gains (losses) on financial transactions |
86 | 181 | (95 | ) | (52.7 | ) | ||||||||||
| Other operating income * |
(102 | ) | (97 | ) | (6 | ) | 5.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
4,956 | 4,794 | 162 | 3.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(2,565 | ) | (2,653 | ) | 88 | (3.3 | ) | |||||||||
| General administrative expenses |
(2,288 | ) | (2,362 | ) | 74 | (3.1 | ) | |||||||||
| Personnel |
(1,387 | ) | (1,469 | ) | 83 | (5.6 | ) | |||||||||
| Other general administrative expenses |
(902 | ) | (893 | ) | (9 | ) | 1.0 | |||||||||
| Depreciation and amortisation |
(277 | ) | (291 | ) | 14 | (4.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
2,391 | 2,140 | 250 | 11.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,194 | ) | (1,478 | ) | 283 | (19.2 | ) | |||||||||
| Other income |
(157 | ) | (124 | ) | (33 | ) | 27.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,039 | 539 | 500 | 92.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(240 | ) | (96 | ) | (144 | ) | 149.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
800 | 443 | 357 | 80.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
(0 | ) | (0 | ) | (0 | ) | 115.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
799 | 443 | 356 | 80.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
69 | 69 | 1 | 1.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
730 | 374 | 356 | 95.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Continental Europe
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,605 | 1,710 | 1,693 | 1,701 | 1,794 | 1,874 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
685 | 710 | 683 | 637 | 661 | 643 | ||||||||||||||||||
| Gains (losses) on financial transactions |
69 | 112 | 106 | 39 | 37 | 48 | ||||||||||||||||||
| Other operating income * |
(56 | ) | (40 | ) | (53 | ) | (52 | ) | (53 | ) | (50 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
2,302 | 2,491 | 2,429 | 2,326 | 2,440 | 2,516 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,347 | ) | (1,307 | ) | (1,311 | ) | (1,333 | ) | (1,296 | ) | (1,269 | ) | ||||||||||||
| General administrative expenses |
(1,202 | ) | (1,160 | ) | (1,165 | ) | (1,162 | ) | (1,148 | ) | (1,141 | ) | ||||||||||||
| Personnel |
(745 | ) | (725 | ) | (720 | ) | (736 | ) | (701 | ) | (686 | ) | ||||||||||||
| Other general administrative expenses |
(458 | ) | (435 | ) | (445 | ) | (426 | ) | (447 | ) | (455 | ) | ||||||||||||
| Depreciation and amortisation |
(144 | ) | (147 | ) | (146 | ) | (171 | ) | (149 | ) | (128 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
956 | 1,185 | 1,118 | 993 | 1,144 | 1,247 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(632 | ) | (846 | ) | (499 | ) | (636 | ) | (594 | ) | (600 | ) | ||||||||||||
| Other income |
(64 | ) | (60 | ) | (65 | ) | (16 | ) | (62 | ) | (95 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
260 | 279 | 554 | 341 | 488 | 552 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(49 | ) | (47 | ) | (132 | ) | (84 | ) | (104 | ) | (135 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
211 | 232 | 423 | 257 | 384 | 416 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (0 | ) | (0 | ) | (5 | ) | (0 | ) | (0 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
211 | 232 | 423 | 251 | 383 | 416 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
28 | 41 | 44 | 20 | 34 | 35 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
184 | 190 | 378 | 232 | 349 | 381 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,987 | 1,591 | 395 | 24.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
389 | 400 | (11 | ) | (2.7 | ) | ||||||||||
| Gains (losses) on financial transactions |
40 | 161 | (121 | ) | (75.2 | ) | ||||||||||
| Other operating income * |
8 | 6 | 2 | 33.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,423 | 2,158 | 265 | 12.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,246 | ) | (1,194 | ) | (51 | ) | 4.3 | |||||||||
| General administrative expenses |
(1,028 | ) | (1,003 | ) | (26 | ) | 2.6 | |||||||||
| Personnel |
(675 | ) | (626 | ) | (49 | ) | 7.8 | |||||||||
| Other general administrative expenses |
(354 | ) | (377 | ) | 23 | (6.1 | ) | |||||||||
| Depreciation and amortisation |
(217 | ) | (192 | ) | (26 | ) | 13.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,178 | 964 | 214 | 22.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(207 | ) | (276 | ) | 69 | (24.9 | ) | |||||||||
| Other income |
(102 | ) | (137 | ) | 34 | (25.1 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
868 | 551 | 317 | 57.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(180 | ) | (118 | ) | (62 | ) | 52.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
687 | 433 | 255 | 58.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (14 | ) | 14 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
687 | 419 | 269 | 64.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
687 | 419 | 269 | 64.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
795 | 796 | 862 | 936 | 972 | 1,015 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
202 | 198 | 209 | 187 | 197 | 192 | ||||||||||||||||||
| Gains (losses) on financial transactions |
16 | 145 | (14 | ) | 28 | 21 | 19 | |||||||||||||||||
| Other operating income * |
2 | 3 | 3 | 7 | 7 | 0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,015 | 1,143 | 1,060 | 1,158 | 1,198 | 1,226 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(592 | ) | (602 | ) | (565 | ) | (577 | ) | (619 | ) | (626 | ) | ||||||||||||
| General administrative expenses |
(495 | ) | (507 | ) | (465 | ) | (448 | ) | (506 | ) | (522 | ) | ||||||||||||
| Personnel |
(313 | ) | (312 | ) | (285 | ) | (320 | ) | (334 | ) | (341 | ) | ||||||||||||
| Other general administrative expenses |
(182 | ) | (195 | ) | (180 | ) | (129 | ) | (173 | ) | (181 | ) | ||||||||||||
| Depreciation and amortisation |
(97 | ) | (95 | ) | (100 | ) | (129 | ) | (113 | ) | (105 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
422 | 541 | 495 | 581 | 578 | 599 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(154 | ) | (122 | ) | (147 | ) | (137 | ) | (116 | ) | (91 | ) | ||||||||||||
| Other income |
(37 | ) | (100 | ) | (27 | ) | (58 | ) | (43 | ) | (60 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
232 | 319 | 321 | 385 | 419 | 449 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(49 | ) | (69 | ) | (70 | ) | (84 | ) | (86 | ) | (95 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
182 | 250 | 251 | 301 | 333 | 354 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | 5 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
182 | 236 | 251 | 306 | 333 | 354 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | — | 0 | (0 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
182 | 236 | 251 | 306 | 333 | 354 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,987 | 1,648 | 339 | 20.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
389 | 414 | (25 | ) | (6.1 | ) | ||||||||||
| Gains (losses) on financial transactions |
40 | 167 | (127 | ) | (76.0 | ) | ||||||||||
| Other operating income * |
8 | 6 | 2 | 28.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,423 | 2,235 | 188 | 8.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,246 | ) | (1,237 | ) | (9 | ) | 0.7 | |||||||||
| General administrative expenses |
(1,028 | ) | (1,038 | ) | 10 | (1.0 | ) | |||||||||
| Personnel |
(675 | ) | (648 | ) | (27 | ) | 4.1 | |||||||||
| Other general administrative expenses |
(354 | ) | (390 | ) | 36 | (9.4 | ) | |||||||||
| Depreciation and amortisation |
(217 | ) | (199 | ) | (19 | ) | 9.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,178 | 998 | 180 | 18.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(207 | ) | (286 | ) | 78 | (27.5 | ) | |||||||||
| Other income |
(102 | ) | (142 | ) | 39 | (27.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
868 | 571 | 297 | 52.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(180 | ) | (123 | ) | (58 | ) | 47.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
687 | 448 | 239 | 53.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (14 | ) | 14 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
687 | 434 | 254 | 58.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
687 | 434 | 254 | 58.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
824 | 824 | 897 | 959 | 980 | 1,007 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
209 | 205 | 217 | 192 | 199 | 190 | ||||||||||||||||||
| Gains (losses) on financial transactions |
16 | 150 | (14 | ) | 28 | 21 | 19 | |||||||||||||||||
| Other operating income * |
2 | 3 | 3 | 7 | 7 | 0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,051 | 1,184 | 1,103 | 1,186 | 1,207 | 1,216 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(614 | ) | (623 | ) | (588 | ) | (591 | ) | (624 | ) | (621 | ) | ||||||||||||
| General administrative expenses |
(513 | ) | (525 | ) | (484 | ) | (459 | ) | (511 | ) | (518 | ) | ||||||||||||
| Personnel |
(325 | ) | (323 | ) | (297 | ) | (327 | ) | (336 | ) | (338 | ) | ||||||||||||
| Other general administrative expenses |
(188 | ) | (202 | ) | (188 | ) | (131 | ) | (174 | ) | (179 | ) | ||||||||||||
| Depreciation and amortisation |
(101 | ) | (98 | ) | (104 | ) | (132 | ) | (114 | ) | (104 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
438 | 560 | 515 | 595 | 583 | 595 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(159 | ) | (127 | ) | (153 | ) | (141 | ) | (117 | ) | (90 | ) | ||||||||||||
| Other income |
(38 | ) | (103 | ) | (28 | ) | (60 | ) | (43 | ) | (59 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
240 | 330 | 334 | 395 | 422 | 445 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(51 | ) | (71 | ) | (73 | ) | (87 | ) | (86 | ) | (94 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
189 | 259 | 261 | 309 | 336 | 351 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (14 | ) | (0 | ) | 5 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
189 | 245 | 261 | 314 | 336 | 351 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | (0 | ) | 0 | (0 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
189 | 245 | 261 | 314 | 336 | 351 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
£ million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,632 | 1,353 | 278 | 20.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
320 | 340 | (21 | ) | (6.1 | ) | ||||||||||
| Gains (losses) on financial transactions |
33 | 137 | (104 | ) | (76.0 | ) | ||||||||||
| Other operating income * |
6 | 5 | 1 | 28.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
1,990 | 1,835 | 155 | 8.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,023 | ) | (1,016 | ) | (7 | ) | 0.7 | |||||||||
| General administrative expenses |
(845 | ) | (853 | ) | 8 | (1.0 | ) | |||||||||
| Personnel |
(554 | ) | (532 | ) | (22 | ) | 4.1 | |||||||||
| Other general administrative expenses |
(290 | ) | (320 | ) | 30 | (9.4 | ) | |||||||||
| Depreciation and amortisation |
(179 | ) | (163 | ) | (15 | ) | 9.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
967 | 820 | 148 | 18.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(170 | ) | (235 | ) | 64 | (27.5 | ) | |||||||||
| Other income |
(84 | ) | (116 | ) | 32 | (27.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
713 | 469 | 244 | 52.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(148 | ) | (101 | ) | (48 | ) | 47.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
564 | 368 | 197 | 53.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | (12 | ) | 12 | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
564 | 356 | 208 | 58.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
— | 0 | (0 | ) | (100.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
564 | 356 | 208 | 58.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking United Kingdom
£ million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
676 | 677 | 737 | 787 | 804 | 827 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
171 | 169 | 178 | 157 | 163 | 156 | ||||||||||||||||||
| Gains (losses) on financial transactions |
13 | 123 | (12 | ) | 23 | 17 | 15 | |||||||||||||||||
| Other operating income * |
2 | 3 | 2 | 6 | 6 | 0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
863 | 972 | 906 | 974 | 991 | 999 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(504 | ) | (512 | ) | (483 | ) | (485 | ) | (513 | ) | (510 | ) | ||||||||||||
| General administrative expenses |
(421 | ) | (431 | ) | (398 | ) | (377 | ) | (419 | ) | (425 | ) | ||||||||||||
| Personnel |
(267 | ) | (266 | ) | (244 | ) | (269 | ) | (276 | ) | (278 | ) | ||||||||||||
| Other general administrative expenses |
(155 | ) | (166 | ) | (154 | ) | (108 | ) | (143 | ) | (147 | ) | ||||||||||||
| Depreciation and amortisation |
(83 | ) | (81 | ) | (85 | ) | (109 | ) | (93 | ) | (85 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
359 | 460 | 423 | 489 | 479 | 488 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(131 | ) | (104 | ) | (126 | ) | (115 | ) | (96 | ) | (74 | ) | ||||||||||||
| Other income |
(31 | ) | (85 | ) | (23 | ) | (49 | ) | (35 | ) | (49 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
197 | 271 | 274 | 324 | 347 | 366 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(42 | ) | (59 | ) | (60 | ) | (71 | ) | (71 | ) | (77 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
155 | 213 | 214 | 253 | 276 | 288 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | (12 | ) | (0 | ) | 4 | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
155 | 201 | 214 | 258 | 276 | 288 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
0 | (0 | ) | 0 | (0 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
155 | 201 | 214 | 258 | 276 | 288 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Latin America
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
6,071 | 7,235 | (1,164 | ) | (16.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,751 | 1,981 | (230 | ) | (11.6 | ) | ||||||||||
| Gains (losses) on financial transactions |
23 | 306 | (283 | ) | (92.4 | ) | ||||||||||
| Other operating income * |
(61 | ) | (67 | ) | 6 | (9.0 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
7,784 | 9,455 | (1,671 | ) | (17.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,357 | ) | (3,798 | ) | 441 | (11.6 | ) | |||||||||
| General administrative expenses |
(3,020 | ) | (3,383 | ) | 363 | (10.7 | ) | |||||||||
| Personnel |
(1,632 | ) | (1,850 | ) | 218 | (11.8 | ) | |||||||||
| Other general administrative expenses |
(1,388 | ) | (1,533 | ) | 145 | (9.5 | ) | |||||||||
| Depreciation and amortisation |
(337 | ) | (414 | ) | 77 | (18.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
4,427 | 5,657 | (1,230 | ) | (21.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(2,436 | ) | (3,457 | ) | 1,021 | (29.5 | ) | |||||||||
| Other income |
(340 | ) | (202 | ) | (139 | ) | 68.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,651 | 1,999 | (348 | ) | (17.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(416 | ) | (383 | ) | (32 | ) | 8.4 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,235 | 1,616 | (380 | ) | (23.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,235 | 1,616 | (380 | ) | (23.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
293 | 362 | (69 | ) | (19.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
943 | 1,254 | (312 | ) | (24.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Latin America
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
3,645 | 3,590 | 3,202 | 3,106 | 2,982 | 3,089 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
991 | 990 | 868 | 927 | 854 | 897 | ||||||||||||||||||
| Gains (losses) on financial transactions |
240 | 66 | 133 | 99 | 23 | (0 | ) | |||||||||||||||||
| Other operating income * |
(39 | ) | (28 | ) | (28 | ) | (34 | ) | (51 | ) | (10 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
4,836 | 4,619 | 4,175 | 4,098 | 3,809 | 3,975 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,890 | ) | (1,908 | ) | (1,804 | ) | (1,879 | ) | (1,645 | ) | (1,712 | ) | ||||||||||||
| General administrative expenses |
(1,684 | ) | (1,699 | ) | (1,612 | ) | (1,687 | ) | (1,468 | ) | (1,552 | ) | ||||||||||||
| Personnel |
(926 | ) | (924 | ) | (864 | ) | (890 | ) | (789 | ) | (843 | ) | ||||||||||||
| Other general administrative expenses |
(758 | ) | (776 | ) | (749 | ) | (797 | ) | (679 | ) | (709 | ) | ||||||||||||
| Depreciation and amortisation |
(206 | ) | (209 | ) | (191 | ) | (193 | ) | (177 | ) | (160 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
2,947 | 2,711 | 2,371 | 2,219 | 2,164 | 2,263 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,788 | ) | (1,669 | ) | (1,411 | ) | (1,318 | ) | (1,225 | ) | (1,211 | ) | ||||||||||||
| Other income |
(60 | ) | (142 | ) | (140 | ) | (203 | ) | (160 | ) | (180 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
1,099 | 900 | 820 | 697 | 778 | 873 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(208 | ) | (175 | ) | (201 | ) | (138 | ) | (209 | ) | (207 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
891 | 725 | 620 | 560 | 569 | 666 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | 0 | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
891 | 725 | 620 | 560 | 569 | 666 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
208 | 153 | 149 | 135 | 139 | 153 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
683 | 572 | 470 | 425 | 430 | 513 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Latin America
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
6,071 | 6,115 | (43 | ) | (0.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
1,751 | 1,646 | 105 | 6.4 | ||||||||||||
| Gains (losses) on financial transactions |
23 | 256 | (232 | ) | (90.9 | ) | ||||||||||
| Other operating income * |
(61 | ) | (56 | ) | (5 | ) | 9.5 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
7,784 | 7,961 | (177 | ) | (2.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(3,357 | ) | (3,182 | ) | (175 | ) | 5.5 | |||||||||
| General administrative expenses |
(3,020 | ) | (2,833 | ) | (187 | ) | 6.6 | |||||||||
| Personnel |
(1,632 | ) | (1,547 | ) | (85 | ) | 5.5 | |||||||||
| Other general administrative expenses |
(1,388 | ) | (1,286 | ) | (102 | ) | 7.9 | |||||||||
| Depreciation and amortisation |
(337 | ) | (349 | ) | 12 | (3.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
4,427 | 4,779 | (351 | ) | (7.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(2,436 | ) | (2,933 | ) | 497 | (16.9 | ) | |||||||||
| Other income |
(340 | ) | (164 | ) | (176 | ) | 106.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,651 | 1,682 | (31 | ) | (1.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(416 | ) | (312 | ) | (103 | ) | 33.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,235 | 1,369 | (134 | ) | (9.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,235 | 1,369 | (134 | ) | (9.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
293 | 312 | (19 | ) | (6.0 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
943 | 1,058 | (115 | ) | (10.9 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking Latin America
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
3,058 | 3,057 | 3,024 | 3,010 | 3,040 | 3,031 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
818 | 828 | 805 | 882 | 868 | 883 | ||||||||||||||||||
| Gains (losses) on financial transactions |
200 | 55 | 121 | 93 | 23 | 1 | ||||||||||||||||||
| Other operating income * |
(33 | ) | (23 | ) | (28 | ) | (32 | ) | (52 | ) | (9 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
4,043 | 3,917 | 3,922 | 3,953 | 3,879 | 3,906 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(1,573 | ) | (1,609 | ) | (1,679 | ) | (1,795 | ) | (1,673 | ) | (1,684 | ) | ||||||||||||
| General administrative expenses |
(1,401 | ) | (1,432 | ) | (1,500 | ) | (1,611 | ) | (1,492 | ) | (1,528 | ) | ||||||||||||
| Personnel |
(770 | ) | (777 | ) | (804 | ) | (850 | ) | (802 | ) | (831 | ) | ||||||||||||
| Other general administrative expenses |
(631 | ) | (655 | ) | (697 | ) | (762 | ) | (691 | ) | (697 | ) | ||||||||||||
| Depreciation and amortisation |
(172 | ) | (177 | ) | (179 | ) | (184 | ) | (181 | ) | (156 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
2,471 | 2,308 | 2,244 | 2,158 | 2,206 | 2,221 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(1,504 | ) | (1,429 | ) | (1,354 | ) | (1,297 | ) | (1,252 | ) | (1,184 | ) | ||||||||||||
| Other income |
(46 | ) | (119 | ) | (128 | ) | (189 | ) | (164 | ) | (176 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
921 | 761 | 762 | 672 | 790 | 861 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(168 | ) | (144 | ) | (182 | ) | (129 | ) | (213 | ) | (203 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
753 | 616 | 580 | 543 | 577 | 659 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | 0 | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
753 | 616 | 580 | 543 | 577 | 659 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
179 | 133 | 141 | 132 | 142 | 151 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
574 | 484 | 439 | 411 | 435 | 507 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,199 | 1,990 | 209 | 10.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
300 | 248 | 51 | 20.7 | ||||||||||||
| Gains (losses) on financial transactions |
38 | 58 | (19 | ) | (33.6 | ) | ||||||||||
| Other operating income * |
48 | (25 | ) | 73 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,585 | 2,271 | 314 | 13.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(919 | ) | (884 | ) | (36 | ) | 4.1 | |||||||||
| General administrative expenses |
(815 | ) | (800 | ) | (15 | ) | 1.8 | |||||||||
| Personnel |
(462 | ) | (464 | ) | 2 | (0.4 | ) | |||||||||
| Other general administrative expenses |
(353 | ) | (336 | ) | (17 | ) | 4.9 | |||||||||
| Depreciation and amortisation |
(104 | ) | (83 | ) | (21 | ) | 25.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,666 | 1,388 | 278 | 20.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,021 | ) | (605 | ) | (416 | ) | 68.7 | |||||||||
| Other income |
(5 | ) | (29 | ) | 24 | (81.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
640 | 753 | (114 | ) | (15.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(198 | ) | (227 | ) | 29 | (12.7 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
442 | 527 | (85 | ) | (16.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
442 | 527 | (85 | ) | (16.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
109 | 105 | 4 | 4.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
332 | 422 | (89 | ) | (21.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
966 | 1,024 | 1,059 | 1,041 | 1,079 | 1,120 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
118 | 131 | 138 | 145 | 143 | 157 | ||||||||||||||||||
| Gains (losses) on financial transactions |
46 | 12 | (11 | ) | 25 | 26 | 13 | |||||||||||||||||
| Other operating income * |
(15 | ) | (10 | ) | 0 | 10 | 15 | 33 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,115 | 1,156 | 1,186 | 1,221 | 1,262 | 1,323 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(432 | ) | (451 | ) | (467 | ) | (480 | ) | (462 | ) | (458 | ) | ||||||||||||
| General administrative expenses |
(393 | ) | (408 | ) | (418 | ) | (433 | ) | (402 | ) | (413 | ) | ||||||||||||
| Personnel |
(225 | ) | (240 | ) | (235 | ) | (225 | ) | (226 | ) | (236 | ) | ||||||||||||
| Other general administrative expenses |
(168 | ) | (168 | ) | (183 | ) | (208 | ) | (176 | ) | (177 | ) | ||||||||||||
| Depreciation and amortisation |
(40 | ) | (43 | ) | (49 | ) | (46 | ) | (60 | ) | (45 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
683 | 705 | 719 | 742 | 800 | 865 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(252 | ) | (353 | ) | (426 | ) | (482 | ) | (550 | ) | (470 | ) | ||||||||||||
| Other income |
(10 | ) | (19 | ) | (29 | ) | (27 | ) | (2 | ) | (3 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
420 | 333 | 265 | 232 | 248 | 392 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(134 | ) | (93 | ) | (69 | ) | (75 | ) | (73 | ) | (125 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
287 | 240 | 196 | 157 | 174 | 267 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
287 | 240 | 196 | 157 | 174 | 267 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
61 | 44 | 41 | 27 | 44 | 65 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
225 | 196 | 155 | 130 | 130 | 202 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
2,199 | 1,906 | 293 | 15.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
300 | 238 | 62 | 26.0 | ||||||||||||
| Gains (losses) on financial transactions |
38 | 55 | (17 | ) | (30.7 | ) | ||||||||||
| Other operating income * |
48 | (24 | ) | 71 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,585 | 2,176 | 409 | 18.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(919 | ) | (846 | ) | (73 | ) | 8.6 | |||||||||
| General administrative expenses |
(815 | ) | (767 | ) | (48 | ) | 6.3 | |||||||||
| Personnel |
(462 | ) | (445 | ) | (17 | ) | 3.9 | |||||||||
| Other general administrative expenses |
(353 | ) | (322 | ) | (31 | ) | 9.5 | |||||||||
| Depreciation and amortisation |
(104 | ) | (80 | ) | (25 | ) | 31.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,666 | 1,329 | 336 | 25.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,021 | ) | (580 | ) | (441 | ) | 76.1 | |||||||||
| Other income |
(5 | ) | (28 | ) | 22 | (80.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
640 | 722 | (82 | ) | (11.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(198 | ) | (217 | ) | 19 | (8.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
442 | 505 | (63 | ) | (12.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
442 | 505 | (63 | ) | (12.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
109 | 101 | 9 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
332 | 404 | (72 | ) | (17.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
931 | 975 | 1,023 | 1,033 | 1,078 | 1,121 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
114 | 124 | 133 | 144 | 143 | 157 | ||||||||||||||||||
| Gains (losses) on financial transactions |
44 | 11 | (10 | ) | 25 | 26 | 13 | |||||||||||||||||
| Other operating income * |
(14 | ) | (10 | ) | 0 | 9 | 15 | 33 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,074 | 1,101 | 1,146 | 1,210 | 1,261 | 1,324 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(417 | ) | (430 | ) | (451 | ) | (475 | ) | (461 | ) | (458 | ) | ||||||||||||
| General administrative expenses |
(378 | ) | (389 | ) | (404 | ) | (429 | ) | (402 | ) | (413 | ) | ||||||||||||
| Personnel |
(217 | ) | (228 | ) | (227 | ) | (224 | ) | (226 | ) | (236 | ) | ||||||||||||
| Other general administrative expenses |
(162 | ) | (160 | ) | (177 | ) | (205 | ) | (176 | ) | (177 | ) | ||||||||||||
| Depreciation and amortisation |
(38 | ) | (41 | ) | (47 | ) | (46 | ) | (60 | ) | (45 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
658 | 672 | 695 | 735 | 800 | 866 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(243 | ) | (337 | ) | (411 | ) | (475 | ) | (550 | ) | (471 | ) | ||||||||||||
| Other income |
(10 | ) | (18 | ) | (28 | ) | (27 | ) | (2 | ) | (3 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
405 | 317 | 257 | 233 | 248 | 392 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(129 | ) | (88 | ) | (67 | ) | (75 | ) | (73 | ) | (125 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
276 | 229 | 190 | 158 | 174 | 268 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
276 | 229 | 190 | 158 | 174 | 268 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
59 | 42 | 40 | 27 | 44 | 66 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
217 | 187 | 150 | 130 | 130 | 202 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
US$ million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
3,014 | 2,612 | 402 | 15.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
411 | 326 | 85 | 26.0 | ||||||||||||
| Gains (losses) on financial transactions |
53 | 76 | (23 | ) | (30.7 | ) | ||||||||||
| Other operating income * |
65 | (33 | ) | 98 | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
3,543 | 2,982 | 561 | 18.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(1,260 | ) | (1,160 | ) | (100 | ) | 8.6 | |||||||||
| General administrative expenses |
(1,117 | ) | (1,051 | ) | (66 | ) | 6.3 | |||||||||
| Personnel |
(634 | ) | (610 | ) | (24 | ) | 3.9 | |||||||||
| Other general administrative expenses |
(483 | ) | (441 | ) | (42 | ) | 9.5 | |||||||||
| Depreciation and amortisation |
(143 | ) | (109 | ) | (34 | ) | 31.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
2,283 | 1,822 | 461 | 25.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(1,399 | ) | (794 | ) | (604 | ) | 76.1 | |||||||||
| Other income |
(7 | ) | (38 | ) | 31 | (80.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
877 | 989 | (112 | ) | (11.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(271 | ) | (297 | ) | 26 | (8.9 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
606 | 692 | (86 | ) | (12.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
606 | 692 | (86 | ) | (12.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
150 | 138 | 12 | 8.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
456 | 554 | (98 | ) | (17.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Retail Banking USA
US$ million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
1,275 | 1,337 | 1,402 | 1,415 | 1,478 | 1,536 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
156 | 170 | 182 | 197 | 195 | 215 | ||||||||||||||||||
| Gains (losses) on financial transactions |
60 | 16 | (14 | ) | 34 | 35 | 18 | |||||||||||||||||
| Other operating income * |
(19 | ) | (13 | ) | 0 | 12 | 20 | 45 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,472 | 1,509 | 1,570 | 1,659 | 1,728 | 1,814 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(571 | ) | (589 | ) | (618 | ) | (651 | ) | (632 | ) | (628 | ) | ||||||||||||
| General administrative expenses |
(518 | ) | (533 | ) | (553 | ) | (588 | ) | (551 | ) | (566 | ) | ||||||||||||
| Personnel |
(297 | ) | (313 | ) | (311 | ) | (307 | ) | (310 | ) | (324 | ) | ||||||||||||
| Other general administrative expenses |
(221 | ) | (220 | ) | (242 | ) | (282 | ) | (241 | ) | (242 | ) | ||||||||||||
| Depreciation and amortisation |
(53 | ) | (56 | ) | (65 | ) | (63 | ) | (82 | ) | (62 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
901 | 920 | 952 | 1,007 | 1,096 | 1,186 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(333 | ) | (462 | ) | (563 | ) | (651 | ) | (754 | ) | (645 | ) | ||||||||||||
| Other income |
(14 | ) | (24 | ) | (38 | ) | (37 | ) | (3 | ) | (4 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
555 | 435 | 352 | 320 | 339 | 537 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(176 | ) | (121 | ) | (91 | ) | (103 | ) | (100 | ) | (171 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
378 | 313 | 260 | 216 | 239 | 367 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
378 | 313 | 260 | 216 | 239 | 367 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
81 | 57 | 55 | 38 | 60 | 90 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
298 | 256 | 206 | 179 | 179 | 277 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Global Wholesale Banking
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,235 | 1,193 | 42 | 3.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
712 | 693 | 19 | 2.8 | ||||||||||||
| Gains (losses) on financial transactions |
520 | 523 | (3 | ) | (0.5 | ) | ||||||||||
| Other operating income * |
166 | 158 | 8 | 5.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,633 | 2,567 | 66 | 2.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(886 | ) | (890 | ) | 5 | (0.5 | ) | |||||||||
| General administrative expenses |
(785 | ) | (796 | ) | 11 | (1.4 | ) | |||||||||
| Personnel |
(498 | ) | (505 | ) | 7 | (1.3 | ) | |||||||||
| Other general administrative expenses |
(287 | ) | (292 | ) | 5 | (1.5 | ) | |||||||||
| Depreciation and amortisation |
(100 | ) | (94 | ) | (7 | ) | 7.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,748 | 1,677 | 71 | 4.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(308 | ) | (318 | ) | 11 | (3.3 | ) | |||||||||
| Other income |
(38 | ) | (30 | ) | (8 | ) | 27.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,402 | 1,328 | 73 | 5.5 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(383 | ) | (373 | ) | (11 | ) | 2.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,019 | 956 | 63 | 6.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,019 | 956 | 63 | 6.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
116 | 108 | 8 | 7.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
902 | 848 | 54 | 6.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Business volumes |
||||||||||||||||
| Customer loans |
79,191 | 96,918 | (17,727 | ) | (18.3 | ) | ||||||||||
| Customer deposits |
73,272 | 81,786 | (8,514 | ) | (10.4 | ) | ||||||||||
Global Wholesale Banking
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
609 | 584 | 532 | 636 | 579 | 656 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
355 | 338 | 292 | 308 | 342 | 370 | ||||||||||||||||||
| Gains (losses) on financial transactions |
353 | 170 | 441 | 191 | 349 | 172 | ||||||||||||||||||
| Other operating income * |
54 | 105 | 42 | 79 | 29 | 138 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,371 | 1,196 | 1,306 | 1,214 | 1,298 | 1,335 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(441 | ) | (450 | ) | (440 | ) | (434 | ) | (440 | ) | (445 | ) | ||||||||||||
| General administrative expenses |
(394 | ) | (402 | ) | (396 | ) | (382 | ) | (391 | ) | (394 | ) | ||||||||||||
| Personnel |
(256 | ) | (249 | ) | (244 | ) | (245 | ) | (247 | ) | (251 | ) | ||||||||||||
| Other general administrative expenses |
(138 | ) | (153 | ) | (152 | ) | (138 | ) | (144 | ) | (143 | ) | ||||||||||||
| Depreciation and amortisation |
(47 | ) | (47 | ) | (44 | ) | (51 | ) | (49 | ) | (51 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
930 | 747 | 866 | 780 | 858 | 890 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(165 | ) | (154 | ) | (473 | ) | (161 | ) | (108 | ) | (200 | ) | ||||||||||||
| Other income |
(17 | ) | (13 | ) | (15 | ) | (25 | ) | (19 | ) | (19 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
749 | 579 | 378 | 594 | 731 | 670 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(214 | ) | (158 | ) | (99 | ) | (165 | ) | (200 | ) | (183 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
535 | 421 | 279 | 429 | 531 | 488 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
535 | 421 | 279 | 429 | 531 | 488 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
57 | 51 | 44 | 45 | 57 | 60 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
478 | 370 | 236 | 384 | 474 | 428 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Business volumes |
||||||||||||||||||||||||
| Customer loans |
90,824 | 96,918 | 88,842 | 85,390 | 79,645 | 79,191 | ||||||||||||||||||
| Customer deposits |
79,484 | 81,786 | 73,338 | 61,427 | 67,851 | 73,272 | ||||||||||||||||||
Global Wholesale Banking
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
1,235 | 1,095 | 140 | 12.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
712 | 648 | 64 | 9.9 | ||||||||||||
| Gains (losses) on financial transactions |
520 | 492 | 28 | 5.8 | ||||||||||||
| Other operating income * |
166 | 157 | 9 | 5.8 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
2,633 | 2,392 | 242 | 10.1 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(886 | ) | (839 | ) | (46 | ) | 5.5 | |||||||||
| General administrative expenses |
(785 | ) | (752 | ) | (34 | ) | 4.5 | |||||||||
| Personnel |
(498 | ) | (475 | ) | (23 | ) | 4.8 | |||||||||
| Other general administrative expenses |
(287 | ) | (276 | ) | (11 | ) | 4.0 | |||||||||
| Depreciation and amortisation |
(100 | ) | (88 | ) | (12 | ) | 14.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
1,748 | 1,552 | 195 | 12.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(308 | ) | (305 | ) | (3 | ) | 0.9 | |||||||||
| Other income |
(38 | ) | (30 | ) | (8 | ) | 27.0 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
1,402 | 1,217 | 185 | 15.2 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(383 | ) | (338 | ) | (45 | ) | 13.2 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
1,019 | 879 | 140 | 15.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
1,019 | 879 | 140 | 15.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
116 | 93 | 23 | 24.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
902 | 786 | 117 | 14.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| Variation | ||||||||||||||||
| 30.06.14 | 30.06.13 | Amount | % | |||||||||||||
| Business volumes |
||||||||||||||||
| Customer loans |
79,191 | 96,289 | (17,098 | ) | (17.8 | ) | ||||||||||
| Customer deposits |
73,272 | 80,672 | (7,400 | ) | (9.2 | ) | ||||||||||
Global Wholesale Banking
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
558 | 537 | 511 | 614 | 584 | 651 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
332 | 316 | 285 | 306 | 344 | 367 | ||||||||||||||||||
| Gains (losses) on financial transactions |
342 | 150 | 421 | 189 | 350 | 171 | ||||||||||||||||||
| Other operating income * |
53 | 104 | 42 | 80 | 29 | 138 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
1,285 | 1,106 | 1,260 | 1,188 | 1,307 | 1,327 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(415 | ) | (424 | ) | (429 | ) | (426 | ) | (443 | ) | (443 | ) | ||||||||||||
| General administrative expenses |
(372 | ) | (380 | ) | (387 | ) | (376 | ) | (393 | ) | (392 | ) | ||||||||||||
| Personnel |
(241 | ) | (235 | ) | (239 | ) | (241 | ) | (249 | ) | (249 | ) | ||||||||||||
| Other general administrative expenses |
(131 | ) | (145 | ) | (148 | ) | (135 | ) | (145 | ) | (143 | ) | ||||||||||||
| Depreciation and amortisation |
(43 | ) | (44 | ) | (43 | ) | (51 | ) | (50 | ) | (51 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
870 | 682 | 831 | 762 | 864 | 884 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(163 | ) | (142 | ) | (466 | ) | (158 | ) | (108 | ) | (200 | ) | ||||||||||||
| Other income |
(17 | ) | (13 | ) | (15 | ) | (27 | ) | (19 | ) | (19 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
690 | 527 | 350 | 577 | 737 | 665 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(196 | ) | (142 | ) | (90 | ) | (159 | ) | (202 | ) | (181 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
494 | 385 | 260 | 418 | 535 | 483 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
494 | 385 | 260 | 418 | 535 | 483 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
49 | 44 | 41 | 44 | 58 | 59 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
445 | 341 | 219 | 374 | 477 | 425 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Business volumes |
||||||||||||||||||||||||
| Customer loans |
86,890 | 96,289 | 88,943 | 86,930 | 80,710 | 79,191 | ||||||||||||||||||
| Customer deposits |
74,631 | 80,672 | 73,004 | 62,341 | 68,780 | 73,272 | ||||||||||||||||||
Private Banking, Asset Management and Insurance
EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
227 | 250 | (23 | ) | (9.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
287 | 279 | 8 | 2.8 | ||||||||||||
| Gains (losses) on financial transactions |
20 | 27 | (7 | ) | (27.2 | ) | ||||||||||
| Other operating income * |
180 | 199 | (19 | ) | (9.6 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
714 | 755 | (41 | ) | (5.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(285 | ) | (288 | ) | 3 | (1.0 | ) | |||||||||
| General administrative expenses |
(259 | ) | (262 | ) | 4 | (1.5 | ) | |||||||||
| Personnel |
(168 | ) | (169 | ) | 0 | (0.2 | ) | |||||||||
| Other general administrative expenses |
(90 | ) | (94 | ) | 4 | (3.8 | ) | |||||||||
| Depreciation and amortisation |
(27 | ) | (26 | ) | (1 | ) | 3.9 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
429 | 467 | (39 | ) | (8.2 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(14 | ) | (24 | ) | 10 | (41.3 | ) | |||||||||
| Other income |
(3 | ) | (2 | ) | (2 | ) | 102.1 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
412 | 442 | (30 | ) | (6.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(85 | ) | (97 | ) | 12 | (12.4 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
326 | 344 | (18 | ) | (5.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
326 | 344 | (18 | ) | (5.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
9 | 12 | (2 | ) | (19.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
317 | 333 | (16 | ) | (4.8 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Private Banking, Asset Management and Insurance
EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
126 | 124 | 123 | 125 | 118 | 109 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
136 | 143 | 128 | 140 | 140 | 148 | ||||||||||||||||||
| Gains (losses) on financial transactions |
10 | 17 | 9 | 7 | 8 | 11 | ||||||||||||||||||
| Other operating income * |
100 | 99 | 91 | 53 | 84 | 96 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
372 | 383 | 351 | 325 | 350 | 364 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(144 | ) | (144 | ) | (141 | ) | (146 | ) | (141 | ) | (144 | ) | ||||||||||||
| General administrative expenses |
(131 | ) | (131 | ) | (129 | ) | (132 | ) | (129 | ) | (130 | ) | ||||||||||||
| Personnel |
(85 | ) | (83 | ) | (83 | ) | (76 | ) | (83 | ) | (86 | ) | ||||||||||||
| Other general administrative expenses |
(46 | ) | (48 | ) | (45 | ) | (56 | ) | (46 | ) | (44 | ) | ||||||||||||
| Depreciation and amortisation |
(13 | ) | (13 | ) | (13 | ) | (13 | ) | (13 | ) | (14 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
228 | 239 | 210 | 180 | 209 | 220 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(7 | ) | (17 | ) | (17 | ) | (10 | ) | (26 | ) | 12 | |||||||||||||
| Other income |
(0 | ) | (1 | ) | (4 | ) | (14 | ) | (2 | ) | (1 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
221 | 221 | 189 | 156 | 180 | 231 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(48 | ) | (50 | ) | (32 | ) | (41 | ) | (38 | ) | (47 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
173 | 172 | 157 | 115 | 142 | 184 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
173 | 172 | 157 | 115 | 142 | 184 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
5 | 7 | 6 | 4 | 5 | 4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
168 | 165 | 151 | 110 | 137 | 180 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Private Banking, Asset Management and Insurance
Constant EUR million
| Variation | ||||||||||||||||
| 1H ’14 | 1H ’13 | Amount | % | |||||||||||||
| Income statement |
||||||||||||||||
| Net interest income |
227 | 240 | (13 | ) | (5.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net fees |
287 | 266 | 21 | 8.0 | ||||||||||||
| Gains (losses) on financial transactions |
20 | 26 | (6 | ) | (23.3 | ) | ||||||||||
| Other operating income * |
180 | 184 | (5 | ) | (2.5 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross income |
714 | 716 | (3 | ) | (0.3 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses |
(285 | ) | (277 | ) | (8 | ) | 2.9 | |||||||||
| General administrative expenses |
(259 | ) | (253 | ) | (6 | ) | 2.3 | |||||||||
| Personnel |
(168 | ) | (161 | ) | (7 | ) | 4.2 | |||||||||
| Other general administrative expenses |
(90 | ) | (91 | ) | 1 | (1.1 | ) | |||||||||
| Depreciation and amortisation |
(27 | ) | (24 | ) | (2 | ) | 9.3 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net operating income |
429 | 439 | (11 | ) | (2.4 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loan-loss provisions |
(14 | ) | (24 | ) | 10 | (41.2 | ) | |||||||||
| Other income |
(3 | ) | (1 | ) | (2 | ) | 167.6 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before taxes |
412 | 414 | (3 | ) | (0.7 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Tax on profit |
(85 | ) | (93 | ) | 8 | (8.6 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit from continuing operations |
326 | 321 | 5 | 1.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net profit from discontinued operations |
— | — | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Consolidated profit |
326 | 321 | 5 | 1.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Minority interests |
9 | 10 | (1 | ) | (7.1 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Attributable profit to the Group |
317 | 311 | 6 | 1.9 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
Private Banking, Asset Management and Insurance
Constant EUR million
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Income statement |
||||||||||||||||||||||||
| Net interest income |
121 | 119 | 120 | 125 | 119 | 108 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net fees |
130 | 136 | 125 | 139 | 140 | 147 | ||||||||||||||||||
| Gains (losses) on financial transactions |
10 | 16 | 8 | 7 | 8 | 11 | ||||||||||||||||||
| Other operating income * |
92 | 92 | 89 | 51 | 85 | 95 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Gross income |
353 | 363 | 343 | 321 | 352 | 362 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating expenses |
(139 | ) | (138 | ) | (139 | ) | (145 | ) | (142 | ) | (143 | ) | ||||||||||||
| General administrative expenses |
(127 | ) | (126 | ) | (126 | ) | (132 | ) | (129 | ) | (129 | ) | ||||||||||||
| Personnel |
(82 | ) | (80 | ) | (81 | ) | (76 | ) | (83 | ) | (85 | ) | ||||||||||||
| Other general administrative expenses |
(45 | ) | (46 | ) | (45 | ) | (56 | ) | (46 | ) | (44 | ) | ||||||||||||
| Depreciation and amortisation |
(12 | ) | (12 | ) | (12 | ) | (13 | ) | (13 | ) | (14 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net operating income |
214 | 225 | 204 | 176 | 210 | 219 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net loan-loss provisions |
(7 | ) | (17 | ) | (17 | ) | (10 | ) | (26 | ) | 12 | |||||||||||||
| Other income |
(0 | ) | (1 | ) | (4 | ) | (14 | ) | (2 | ) | (1 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit before taxes |
207 | 207 | 184 | 153 | 182 | 230 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Tax on profit |
(46 | ) | (47 | ) | (32 | ) | (41 | ) | (38 | ) | (47 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Profit from continuing operations |
161 | 160 | 151 | 112 | 143 | 183 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Net profit from discontinued operations |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Consolidated profit |
161 | 160 | 151 | 112 | 143 | 183 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Minority interests |
4 | 6 | 6 | 4 | 5 | 4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Attributable profit to the Group |
157 | 154 | 146 | 108 | 138 | 179 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (*).- | Including dividends, income from equity-accounted method and other operating income/expenses |
NPL ratios
%
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Continental Europe |
6.62 | 7.83 | 8.48 | 9.13 | 9.12 | 9.04 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spain |
4.12 | 5.75 | 6.40 | 7.49 | 7.61 | 7.59 | ||||||||||||||||||
| Portugal |
6.88 | 7.41 | 7.86 | 8.12 | 8.26 | 8.16 | ||||||||||||||||||
| Poland |
7.39 | 8.08 | 7.75 | 7.84 | 7.35 | 7.42 | ||||||||||||||||||
| Santander Consumer Finance |
3.98 | 4.04 | 3.96 | 4.01 | 4.14 | 4.07 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| United Kingdom |
2.03 | 2.01 | 1.98 | 1.98 | 1.88 | 1.91 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Latin America |
5.40 | 5.23 | 5.29 | 5.00 | 5.06 | 5.03 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Brazil |
6.90 | 6.49 | 6.12 | 5.64 | 5.74 | 5.78 | ||||||||||||||||||
| Mexico |
1.92 | 2.20 | 3.58 | 3.66 | 3.62 | 3.52 | ||||||||||||||||||
| Chile |
5.51 | 5.81 | 6.00 | 5.91 | 5.99 | 5.94 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| USA |
3.01 | 2.96 | 3.04 | 3.09 | 2.88 | 2.93 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating Areas |
4.70 | 5.13 | 5.39 | 5.61 | 5.54 | 5.46 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total Group |
4.75 | 5.15 | 5.40 | 5.61 | 5.52 | 5.45 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Coverage ratio
%
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Continental Europe |
71.0 | 63.3 | 61.1 | 57.3 | 58.0 | 58.3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spain |
50.3 | 43.1 | 45.0 | 44.0 | 44.6 | 44.9 | ||||||||||||||||||
| Portugal |
52.9 | 52.4 | 51.9 | 50.0 | 50.6 | 53.1 | ||||||||||||||||||
| Poland |
67.6 | 59.3 | 64.1 | 61.8 | 64.6 | 65.3 | ||||||||||||||||||
| Santander Consumer Finance |
108.7 | 106.9 | 109.2 | 105.3 | 105.1 | 105.2 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| United Kingdom |
42.1 | 42.1 | 41.6 | 41.6 | 42.9 | 41.1 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Latin America |
87.4 | 86.1 | 83.6 | 85.4 | 86.1 | 86.3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Brazil |
90.4 | 91.3 | 92.0 | 95.1 | 95.2 | 94.8 | ||||||||||||||||||
| Mexico |
157.1 | 142.7 | 99.0 | 97.5 | 98.6 | 96.6 | ||||||||||||||||||
| Chile |
53.9 | 49.9 | 49.7 | 51.1 | 50.7 | 51.7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| USA |
149.6 | 156.5 | 148.9 | 148.1 | 163.3 | 165.0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating Areas |
75.0 | 69.6 | 67.2 | 64.6 | 66.0 | 66.4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total Group |
74.1 | 69.7 | 67.1 | 64.9 | 66.3 | 66.7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Cost of credit
%
| 31.03.13 | 30.06.13 | 30.09.13 | 31.12.13 | 31.03.14 | 30.06.14 | |||||||||||||||||||
| Continental Europe |
3.13 | 2.33 | 1.71 | 1.23 | 1.21 | 1.14 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Spain |
1.23 | 1.26 | 1.36 | 1.36 | 1.37 | 1.31 | ||||||||||||||||||
| Portugal |
1.18 | 1.10 | 0.93 | 0.73 | 0.63 | 0.55 | ||||||||||||||||||
| Poland |
1.22 | 1.18 | 1.09 | 1.01 | 0.98 | 0.92 | ||||||||||||||||||
| Santander Consumer Finance |
1.26 | 1.15 | 1.13 | 0.96 | 0.89 | 0.87 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| United Kingdom |
0.29 | 0.26 | 0.26 | 0.24 | 0.23 | 0.22 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Latin America |
5.07 | 4.87 | 4.73 | 4.53 | 4.24 | 3.95 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Brazil |
7.46 | 7.07 | 6.72 | 6.34 | 5.82 | 5.38 | ||||||||||||||||||
| Mexico |
2.46 | 2.73 | 3.27 | 3.47 | 3.59 | 3.58 | ||||||||||||||||||
| Chile |
1.95 | 2.00 | 1.96 | 1.92 | 1.82 | 1.76 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| USA |
1.89 | 1.95 | 2.17 | 2.48 | 2.94 | 3.15 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Operating Areas |
2.49 | 2.15 | 1.85 | 1.65 | 1.61 | 1.55 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total Group |
2.45 | 2.14 | 1.89 | 1.69 | 1.65 | 1.56 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Spreads on loans and deposits
%
| 1Q 13 | 2Q 13 | 3Q 13 | 4Q 13 | 1Q 14 | 2Q 14 | |||||||||||||||||||
| Retail Banking Spain |
||||||||||||||||||||||||
| Loan spreads |
2.21 | 2.26 | 2.33 | 2.43 | 2.39 | 2.36 | ||||||||||||||||||
| Deposit spreads |
0.16 | 0.28 | 0.15 | 0.20 | 0.45 | 0.47 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
2.37 | 2.54 | 2.48 | 2.63 | 2.84 | 2.83 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking Portugal |
||||||||||||||||||||||||
| Loan spreads |
2.44 | 2.44 | 2.44 | 2.42 | 2.44 | 2.39 | ||||||||||||||||||
| Deposit spreads |
(1.22 | ) | (1.18 | ) | (1.06 | ) | (0.99 | ) | (0.93 | ) | (0.84 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
1.22 | 1.26 | 1.38 | 1.43 | 1.51 | 1.55 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking Poland |
||||||||||||||||||||||||
| Loan spreads |
2.41 | 2.45 | 2.43 | 2.53 | 2.51 | 2.47 | ||||||||||||||||||
| Deposit spreads |
0.73 | 0.72 | 0.73 | 0.98 | 1.12 | 1.22 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
3.14 | 3.17 | 3.16 | 3.51 | 3.63 | 3.69 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Santander Consumer Finance |
||||||||||||||||||||||||
| Loan spreads |
4.76 | 4.83 | 4.93 | 4.91 | 5.04 | 5.03 | ||||||||||||||||||
| Retail Banking United Kingdom |
||||||||||||||||||||||||
| Loan spreads |
2.78 | 2.80 | 2.85 | 2.84 | 2.83 | 2.76 | ||||||||||||||||||
| Deposit spreads |
(1.25 | ) | (1.17 | ) | (1.00 | ) | (0.86 | ) | (0.82 | ) | (0.70 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
1.53 | 1.63 | 1.85 | 1.98 | 2.01 | 2.06 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking Brazil |
||||||||||||||||||||||||
| Loan spreads |
13.09 | 12.51 | 11.93 | 11.82 | 11.76 | 11.60 | ||||||||||||||||||
| Deposit spreads |
0.72 | 0.75 | 0.84 | 0.95 | 0.90 | 0.92 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
13.81 | 13.26 | 12.77 | 12.77 | 12.66 | 12.52 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking Mexico |
||||||||||||||||||||||||
| Loan spreads |
8.46 | 8.41 | 8.34 | 8.23 | 8.17 | 7.83 | ||||||||||||||||||
| Deposit spreads |
1.86 | 1.64 | 1.56 | 1.51 | 1.52 | 1.46 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
10.32 | 10.05 | 9.90 | 9.74 | 9.69 | 9.29 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking Chile |
||||||||||||||||||||||||
| Loan spreads |
4.31 | 4.27 | 4.01 | 3.98 | 3.98 | 4.00 | ||||||||||||||||||
| Deposit spreads |
2.39 | 2.47 | 2.42 | 2.31 | 2.35 | 2.37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
6.70 | 6.74 | 6.43 | 6.29 | 6.33 | 6.37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Retail Banking USA |
||||||||||||||||||||||||
| Loan spreads |
2.51 | 2.52 | 2.52 | 2.49 | 2.44 | 2.57 | ||||||||||||||||||
| Deposit spreads |
0.34 | 0.33 | 0.57 | 0.41 | 0.73 | 0.65 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| TOTAL |
2.85 | 2.85 | 3.09 | 2.90 | 3.17 | 3.22 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Risk-weighted assets (1)
EUR million
| 31.03.14 | 30.06.14 | |||||||
| Continental Europe |
209,031 | 207,629 | ||||||
|
|
|
|
|
|||||
| Spain |
110,691 | 109,401 | ||||||
| Portugal |
16,854 | 16,776 | ||||||
| Poland |
16,156 | 16,285 | ||||||
| Santander Consumer Finance |
49,289 | 49,420 | ||||||
| Spain’s run-off real estate |
10,913 | 10,834 | ||||||
|
|
|
|
|
|||||
| United Kingdom |
95,469 | 99,475 | ||||||
|
|
|
|
|
|||||
| Latin America |
144,534 | 151,654 | ||||||
|
|
|
|
|
|||||
| Brazil |
81,709 | 86,235 | ||||||
| Mexico |
24,010 | 25,841 | ||||||
| Chile |
25,229 | 26,013 | ||||||
|
|
|
|
|
|||||
| USA |
57,799 | 60,771 | ||||||
|
|
|
|
|
|||||
| Operating Areas |
506,833 | 519,529 | ||||||
|
|
|
|
|
|||||
| Corporate Activities |
36,271 | 39,365 | ||||||
|
|
|
|
|
|||||
| Total Group |
543,104 | 558,894 | ||||||
|
|
|
|
|
|||||
| (1).- | Considering Spanish regulation homogeneous with European one regarding intangible assets |
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: August 5, 2014 | By: | /s/ José Antonio Álvarez | ||||
| Name: | José Antonio Álvarez | |||||
| Title: | Executive Vice President | |||||
