Highlights of real-estate activity in Spain in the third quarter
- Improvement in demand coming basically from foreign investors.
- New reduction of exposure linked to the developer sector.
- Maintenance of the rate of sales, despite the seasonality.
- Risk indicators affected by the new classification of refinanced loans.
Income statement
(Million euros)
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Real-estate activity in Spain | ||
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Jan.-Sep. 13 | Δ % | Jan.-Sep. 12 |
| Net interest income | 28 | n.m. | (23) |
| Net fees and commissions | 8 | (44.4) | 14 |
| Net trading income | 38 | n.m. | (31) |
| Other income/expenses | (86) | 130.1 | (38) |
| Gross income | (12) | (84.5) | (78) |
| Operating costs | (111) | 28.4 | (86) |
| Personnel expenses | (65) | 60.0 | (41) |
| General and administrative expenses | (29) | 1.0 | (29) |
| Depreciation and amortization | (17) | (1.0) | (17) |
| Operating income | (123) | (25.1) | (164) |
| Impairment on financial assets (net) | (510) | (77.9) | (2,305) |
| Provisions (net) and other gains (losses) | (677) | (51.7) | (1,401) |
| Income before tax | (1,310) | (66.2) | (3,870) |
| Income tax | 467 | (59.5) | 1,154 |
| Net income | (842) | (69.0) | (2,717) |
| Non-controlling interests | (2) | n.m. | 1 |
| Net attributable profit | (845) | (68.9) | (2,715) |
Balance sheet
(Million euros)
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Real-estate activity in Spain | ||
|---|---|---|---|
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30-09-13 | Δ % | 30-09-12 |
| Cash and balances with central banks | 5 | 117.3 | 2 |
| Financial assets | 1,104 | 13.5 | 973 |
| Loans and receivables | 10,748 | (23.9) | 14,122 |
| Loans and advances to customers | 10,768 | (23.7) | 14,120 |
| Loans and advances to credit institutions and other | (20) | n.m. | 1 |
| Inter-area positions | - | - | - |
| Tangible assets | 1,717 | (15.7) | 2,036 |
| Other assets | 7,380 | 3.4 | 7,136 |
| Total assets/Liabilities and equity | 20,954 | (13.7) | 24,269 |
| Deposits from central banks and credit institutions | - | - | - |
| Deposits from customers | 189 | (16.8) | 227 |
| Debt certificates | 4 | (75.8) | 15 |
| Subordinated liabilities | 567 | (21.4) | 721 |
| Inter-area positions | 17,925 | (8.4) | 19,559 |
| Financial liabilities held for trading | - | - | - |
| Other liabilities | - | - | - |
| Economic capital allocated | 2,269 | (39.4) | 3,748 |