Highlights of real-estate activity in Spain in the second quarter
- Another reduction of exposure to developers.
- Upward trend in retail foreclosures.
- Loan-loss provisions significantly lower than the first semester of 2012.
- Increased year-on-year disposal of foreclosed assets.
Income statement
(Million euros)
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Real-estate activity in Spain | ||
|---|---|---|---|
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1H13 | Δ % | 1H12 |
| Net interest income | 42 | n.m. | (2) |
| Net fees and commissions | 5 | (41.1) | 9 |
| Net trading income | 19 | n.m. | (44) |
| Other income/expenses | (64) | n.m. | (15) |
| Gross income | 2 | n.m. | (52) |
| Operating costs | (74) | 37.4 | (54) |
| Personnel expenses | (43) | 65.2 | (26) |
| General and administrative expenses | (20) | 19.1 | (17) |
| Depreciation and amortization | (11) | 0.0 | (11) |
| Operating income | (72) | (32.0) | (106) |
| Impairment on financial assets (net) | (271) | (80.2) | (1,370) |
| Provisions (net) and other gains (losses) | (505) | (5.0) | (531) |
| Income before tax | (847) | (57.8) | (2,007) |
| Income tax | 221 | (61.9) | 579 |
| Net income | (627) | (56.1) | (1,428) |
| Non-controlling interests | (2) | n.m. | 1 |
| Net attributable profit | (629) | (55.9) | (1,427) |
Balance sheet
(Million euros)
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Real-estate activity in Spain | ||
|---|---|---|---|
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30-06-13 | Δ % | 30-06-12 |
| Cash and balances with central banks | 5 | - | - |
| Financial assets | 1,154 | 15.5 | 999 |
| Loans and receivables | 11,508 | (4.4) | 12,040 |
| Loans and advances to customers | 11,527 | (4.3) | 12,040 |
| Loans and advances to credit institutions and other | (20) | - | - |
| Inter-area positions | - | - | - |
| Tangible assets | 1,783 | 15.7 | 1,541 |
| Other assets | 7,414 | 11.3 | 6,659 |
| Total assets/Liabilities and equity | 21,864 | 2.9 | 21,240 |
| Deposits from central banks and credit institutions | - | - | - |
| Deposits from customers | 155 | (45.7) | 285 |
| Debt certificates | 6 | (36.5) | 9 |
| Subordinated liabilities | 744 | 3.3 | 720 |
| Inter-area positions | 17,985 | 8.3 | 16,610 |
| Financial liabilities held for trading | - | - | - |
| Other liabilities | - | - | - |
| Economic capital allocated | 2,974 | (17.7) | 3,614 |