Financial statements
Download Excel
|
|
Million euros | ||
|---|---|---|---|
| Income statement | 2015 | Δ% | 2014 |
| Net interest income | (424) | (34.8) | (651) |
| Net fees and commissions | (100) | 10.1 | (91) |
| Net trading income | 141 | n.m. | 14 |
| Other income/expenses | 172 | 12.3 | 153 |
| Gross income | (212) | (63.1) | (575) |
| Operating expenses | (770) | 2.2 | (753) |
| Personnel expenses | (436) | 14.6 | (381) |
| General and administrative expenses | (109) | (8.8) | (120) |
| Depreciation and amortization | (224) | (11.2) | (253) |
| Operating income | (982) | (26.0) | (1,328) |
| Impairment on financial assets (net) | (13) | 200.7 | (4) |
| Provisions (net) and other gains (losses) | (157) | (44.4) | (282) |
| Income before tax | (1,152) | (28.6) | (1,615) |
| Income tax | 390 | 5.8 | 369 |
| Net income from ongoing operations | (762) | (38.8) | (1,246) |
| Results from corporate operations (1) | (1,109) | n.m. | - |
| Net income | (1,872) | 50.2 | (1,246) |
| Non-controlling interests | (19) | n.s. | (3) |
| Net attributable profit | (1,891) | 51.4 | (1,249) |
| Net attributable profit from ongoing operations (2) | (782) | (37.4) | (1,249) |
Download Excel
|
|
Million euros and percentage | ||
|---|---|---|---|
| Balance sheet | 31-12-15 | Δ% | 31-12-14 |
| Cash and balances with central banks | 2 | (85.6) | 14 |
| Financial assets | 2,885 | (9.7) | 3,194 |
| Loans and receivables | 136 | n.m. | 24 |
| Loans and advances to customers | 136 | n.m. | 24 |
| Loans and advances to credit institutions and other | - | n.m. | (0) |
| Inter-area positions | - | - | - |
| Tangible assets | 2,865 | 27.6 | 2,245 |
| Other assets | 22,524 | 23.8 | 18,199 |
| Total assets/liabilities and equity | 28,412 | 20.0 | 23,676 |
| Deposits from central banks and credit institutions | - | - | - |
| Deposits from customers | - | - | - |
| Debt certificates | 5,857 | (0.3) | 5,875 |
| Subordinated liabilities | 4,636 | 17.1 | 3,958 |
| Inter-area positions | (9,830) | (32.8) | (14,624) |
| Financial liabilities held for trading | - | - | - |
| Other liabilities | 5,249 | (22.8) | 6,801 |
| Shareholders' funds | 49,315 | 3.6 | 47,603 |
| Economic capital allocated | (26,814) | 3.4 | (25,936) |
As mentioned before, the Corporate Center’s income statement is affected by the reclassification of some of the operating expenses related to Technology from the Corporate Area to the Banking Activity area in Spain. To ensure comparable figures, the income statements of 2015 and 2014 have been modified. The highlights of the year-on-year comparison are summed up below:
- Performance of net interest income very much in line with previous quarters.
- Positive contribution from NTI over the last three months. Year-on-year growth was €126m, mainly as a result of capital gains from the Holdings in Industrial and Financial Companies unit.
- The other income/expenses heading basically includes the dividends from Telefónica (paid in the second and fourth quarters of 2015).
- Operating expenses in check.
- Earnings from corporate operations, a negative €1,109m, basically include €705m in capital gains, net of tax, for the various sale operations equivalent to 6.34% of BBVA Group’s stake in CNCB; €26m, also net of tax, for the badwill generated in the CX deal; and a negative €1,840m for the valuation at fair value of the 25.01% stake that BBVA owned in Garanti, after the acquisition of an additional 14.89% in the Turkish bank.
As a result, the Corporate Center registered cumulative negative earnings of €1,891m in 2015.