Spain highlights in the first quarter
- Pressure on margins in an environment of deleveraging.
- Deterioration of asset quality, as expected.
- Increased customer fund gathering.
- Significant contribution from NTI.
- Execution of a reinsurance operation.
Income statement
(Million euros)
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|
|
Spain | ||
|---|---|---|---|
|
|
1Q13 | Δ % | 1Q12 |
| Net interest income | 1,071 | (8.8) | 1,174 |
| Net fees and commissions | 345 | 1.1 | 342 |
| Net trading income | 220 | 75.6 | 125 |
| Other income/expenses | 33 | (50.9) | 68 |
| Gross income | 1,669 | (2.3) | 1,708 |
| Operating costs | (768) | 10.6 | (694) |
| Personnel expenses | (489) | 12.6 | (435) |
| General and administrative expenses | (254) | 8.2 | (235) |
| Depreciation and amortization | (25) | (0.2) | (25) |
| Operating income | 901 | (11.1) | 1,014 |
| Impairment on financial assets (net) | (618) | 37.6 | (449) |
| Provisions (net) and other gains (losses) | 540 | n.m. | (34) |
| Income before tax | 823 | 55.2 | 530 |
| Income tax | (248) | 54.6 | (160) |
| Net income | 576 | 55.5 | 370 |
| Non-controlling interests | (7) | n.m. | (1) |
| Net attributable profit | 569 | 53.9 | 370 |
Balance sheet
(Million euros)
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|
|
Spain | ||
|---|---|---|---|
|
|
31-03-13 | Δ % | 31-03-12 |
| Cash and balances with central banks | 4,299 | 0.0 | 4,298 |
| Financial assets | 104,815 | 9.4 | 95,791 |
| Loans and receivables | 208,890 | 2.3 | 204,210 |
| Loans and advances to customers | 192,983 | 2.8 | 187,743 |
| Loans and advances to credit institutions and other | 15,907 | (3.4) | 16,467 |
| Inter-area positions | 14,506 | 20.1 | 12,074 |
| Tangible assets | 814 | (9.1) | 896 |
| Other assets | 2,366 | 56.0 | 1,517 |
| Total assets/Liabilities and equity | 335,691 | 5.3 | 318,785 |
| Deposits from central banks and credit institutions | 56,456 | (6.4) | 60,296 |
| Deposits from customers | 151,782 | 11.1 | 136,587 |
| Debt certificates | 64,863 | (0.4) | 65,119 |
| Subordinated liabilities | 3,233 | (43.0) | 5,673 |
| Inter-area positions | - | - | - |
| Financial liabilities held for trading | 46,347 | 10.7 | 41,864 |
| Other liabilities | 1,650 | n.m. | 309 |
| Economic capital allocated | 11,361 | 27.1 | 8,937 |
Relevant business indicators
(Million euros and percentage)
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|
|
Spain | ||
|---|---|---|---|
|
|
31-03-13 | 31-12-12 | 31-03-12 |
| Performing loans | 188,385 | 186,458 | 184,581 |
| Deposits from customers (1) | 138,623 | 133,802 | 121,110 |
| Mutual funds | 19,259 | 19,116 | 19,747 |
| Pension funds | 18,779 | 18,313 | 17,590 |
| Efficiency ratio (%) | 46.0 | 43.3 | 40.6 |
| NPA ratio (%) | 4.3 | 4.0 | 3.1 |
| NPA coverage ratio (%) | 50 | 48 | 52 |
| Risk premium (%) | 1.28 | 0.94 | 0.95 |