Below are the Group’s financial statements with and without the early application of IFRS 10, 11 and 12. The early application of these standards means consolidating the stake in Garanti Group by the equity method instead of by the proportional consolidation method.
In terms of reporting to the market, the proportional consolidation method is better for evaluating the nature and financial effects of Garanti Group’s business activities, consistent with the information from previous periods, and more coherent in its effects on capital adequacy.
Consolidated income statement BBVA Group
(Million euros)
Download Excel
|
|
Garanti Group consolidated using the equity method 1Q13 |
Garanti Group consolidated using the proportional consolidation 1Q13 |
|---|---|---|
| Net interest income | 3,424 | 3,623 |
| Net fees and commissions | 1,003 | 1,052 |
| Net trading income | 682 | 719 |
| Dividend income | 19 | 19 |
| Income by the equity method | 157 | 51 |
| Other operating income and expenses | 0 | 7 |
| Gross income | 5,284 | 5,471 |
| Operating Costs | (2,656) | (2,758) |
| Personnel expenses | (1,406) | (1,458) |
| General and administrative expenses | (985) | (1,025) |
| Depreciation and amortization | (266) | (276) |
| Operating income | 2,628 | 2,712 |
| Impairment on financial assets (net) | (1,341) | (1,376) |
| Provisions (net) | (147) | (167) |
| Other gains (losses) | 342 | 343 |
| Income before tax | 1,482 | 1,513 |
| Income tax | (364) | (395) |
| Net income from ongoing operations | 1,118 | 1,118 |
| Net income from discontinued operations | 823 | 823 |
| Net income | 1,941 | 1,941 |
| Non-controlling interests | (206) | (206) |
| Net attributable profit | 1,734 | 1,734 |
Consolidated balance sheet BBVA Group
(Million euros)
Download Excel
|
|
Garanti Group consolidated using the equity method 31-03-13 |
Garanti Group consolidated using the proportional consolidation 31-03-13 |
|---|---|---|
| Cash and balances with central banks | 28,150 | 30,208 |
| Financial assets held for trading | 75,597 | 75,750 |
| Other financial assets designated at fair value through profit or loss | 2,728 | 3,079 |
| Available-for-sale financial assets | 69,982 | 74,135 |
| Loans and receivables | 374,604 | 387,551 |
| Loans and advances to credit institutions | 25,141 | 26,383 |
| Loans and advances to customers | 346,009 | 357,490 |
| Other | 3,453 | 3,678 |
| Held-to-maturity investments | 9,734 | 9,734 |
| Investments in entities accounted for using the equity method | 11,170 | 6,991 |
| Tangible assets | 7,615 | 7,831 |
| Intangible assets | 7,150 | 8,952 |
| Other assets | 28,528 | 28,843 |
| Total assets | 615,258 | 633,073 |
| Financial liabilities held for trading | 54,801 | 54,894 |
| Other financial liabilities at fair value through profit or loss | 2,673 | 3,001 |
| Financial liabilities at amortized cost | 482,195 | 499,038 |
| Deposits from central banks and credit institutions | 86,841 | 91,277 |
| Deposits from customers | 293,734 | 304,574 |
| Debt certificates | 82,739 | 83,813 |
| Subordinated liabilities | 11,985 | 12,009 |
| Other financial liabilities | 6,895 | 7,364 |
| Liabilities under insurance contracts | 10,302 | 10,314 |
| Other liabilities | 18,715 | 19,253 |
| Total liabilities | 568,686 | 586,500 |
| Non-controlling interests | 2,362 | 2,362 |
| Valuation adjustments | (1,006) | (1,005) |
| Shareholders' funds | 45,215 | 45,216 |
| Total equity | 46,571 | 46,573 |
| Total equity and liabilities | 615,258 | 633,073 |
| Memorandum item: |
|
|
| Contingent liabilities | 35,070 | 38,195 |