South America highlights in the first quarter
- Strong business activity in practically all the countries in the region.
- Favorable performance of revenue.
- Stable risk indicators.
- Successful placement of two issues on the international markets.
Income statement
(Million euros)
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South America | |||
|---|---|---|---|---|
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1Q13 | Δ % | Δ % (1) | 1Q12 |
| Net interest income | 1,042 | 10.2 | 19.7 | 946 |
| Net fees and commissions | 204 | 0.3 | 8.1 | 203 |
| Net trading income | 188 | 50.4 | 65.1 | 125 |
| Other income/expenses | (94) | 129.2 | 230.2 | (41) |
| Gross income | 1,340 | 8.7 | 17.1 | 1,233 |
| Operating costs | (568) | 12.4 | 20.7 | (506) |
| Personnel expenses | (289) | 12.9 | 20.5 | (256) |
| General and administrative expenses | (241) | 12.9 | 21.4 | (213) |
| Depreciation and amortization | (39) | 5.8 | 17.3 | (37) |
| Operating income | 772 | 6.1 | 14.6 | 727 |
| Impairment on financial assets (net) | (151) | 53.5 | 58.9 | (98) |
| Provisions (net) and other gains (losses) | (27) | 9.2 | 43.5 | (25) |
| Income before tax | 594 | (1.7) | 6.1 | 604 |
| Income tax | (141) | 3.9 | 10.9 | (136) |
| Net income from ongoing operations | 452 | (3.4) | 4.7 | 468 |
| Net income from discontinued operations | 61 | (16.7) | (18.8) | 73 |
| Net income | 513 | (5.2) | 1.2 | 541 |
| Non-controlling interests | (165) | (1.3) | 7.1 | (167) |
| Net attributable profit | 348 | (6.9) | (1.3) | 374 |
Balance sheet
(Million euros)
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South America | |||
|---|---|---|---|---|
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31-03-13 | Δ % | Δ % (1) | 31-03-12 |
| Cash and balances with central banks | 12,160 | 37.6 | 50.6 | 8,839 |
| Financial assets | 11,652 | 16.8 | 21.6 | 9,977 |
| Loans and receivables | 50,446 | 14.2 | 16.6 | 44,169 |
| Loans and advances to customers | 45,404 | 13.4 | 15.2 | 40,027 |
| Loans and advances to credit institutions and other | 5,042 | 21.7 | 30.6 | 4,142 |
| Tangible assets | 860 | 6.5 | 13.2 | 808 |
| Other assets | 2,045 | (16.8) | (16.7) | 2,459 |
| Total assets/Liabilities and equity | 77,164 | 16.5 | 20.3 | 66,251 |
| Deposits from central banks and credit institutions | 6,142 | 8.9 | 3.1 | 5,640 |
| Deposits from customers | 51,630 | 16.7 | 23.0 | 44,249 |
| Debt certificates | 3,682 | 37.6 | 29.6 | 2,676 |
| Subordinated liabilities | 1,402 | (11.7) | (16.0) | 1,589 |
| Financial liabilities held for trading | 906 | 0.4 | (6.1) | 902 |
| Other liabilities | 10,073 | 20.4 | 26.2 | 8,367 |
| Economic capital allocated | 3,330 | 17.8 | 22.0 | 2,827 |
Relevant business indicators
(Million euros and percentage)
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South America | ||
|---|---|---|---|
|
|
31-03-13 | 31-12-12 | 31-03-12 |
| Performing loans | 46,128 | 45,780 | 40,730 |
| Deposits from customers (1) | 55,595 | 56,937 | 47,033 |
| Mutual funds | 3,807 | 3,355 | 2,895 |
| Pension funds | 10,159 | 9,810 | 8,578 |
| Efficiency ratio (%) | 42.4 | 43.2 | 41.0 |
| NPA ratio (%) | 2.2 | 2.1 | 2.3 |
| NPA coverage ratio (%) | 143 | 146 | 141 |
| Risk premium (%) | 1.30 | 1.34 | 0.97 |