January-December 2012


CIB continues to show highly recurrent and resilient earnings. In 2012 it generated gross income of €2,767m, 9.2% up on the figure for the previous year. By geographical areas, revenue grew in South America, Mexico and Spain (up 32.6%, 27.1% and 16.7%, respectively) and fell in Eurasia and the United States (down 27.3% and 9.9%, respectively).

The trend in operating expenses shows the effort made by CIB to contain and control costs. This heading grew by only 3.5% over the previous year, despite the substantial investments made in systems and growth plans in emerging economies. As a result, the operating income increased by 12.1% year-on-year to €1,878m.

Impairment losses on financial assets amounted to €191m and show the deterioration in the asset quality of certain counterparties due to the current economic downturn. However, the NPA ratio remains low, at 1.5% at the end of 2012.

Net attributable profit at €1,049m, has continued at similar levels to the previous year.