South America highlights in the fourth quarter
- Year-on-year growth in activity above that of previous quarters.
- Strength of more recurring revenue.
- Stable risk indicators.
- Closing of the sale of BBVA Panama and AFP Provida in Chile.
Income statement
(Million euros)
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South America | |||
|---|---|---|---|---|
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2013 | Δ % | Δ % (1) | 2012 |
| Net interest income | 4,703 | 9.7 | 33.6 | 4,288 |
| Net fees and commissions | 976 | 6.9 | 27.7 | 913 |
| Net trading income | 764 | 72.3 | 100.7 | 443 |
| Other income/expenses | (812) | 185.8 | n.m. | (284) |
| Gross income | 5,630 | 5.0 | 25.3 | 5,360 |
| Operating expenses | (2,386) | 4.0 | 23.2 | (2,293) |
| Personnel expenses | (1,184) | 3.1 | 20.9 | (1,148) |
| General and administrative expenses | (1,029) | 5.9 | 25.9 | (972) |
| Depreciation and amortization | (173) | (0.5) | 23.5 | (173) |
| Operating income | 3,244 | 5.8 | 27.0 | 3,066 |
| Impairment on financial assets (net) | (701) | 18.3 | 39.2 | (593) |
| Provisions (net) and other gains (losses) | (157) | (22.6) | 12.8 | (202) |
| Income before tax | 2,387 | 5.1 | 24.8 | 2,271 |
| Income tax | (530) | 7.4 | 24.6 | (494) |
| Net income | 1,856 | 4.5 | 24.8 | 1,777 |
| Non-controlling interests | (608) | 5.1 | 29.5 | (578) |
| Net attributable profit | 1,249 | 4.1 | 22.6 | 1,199 |
Balance sheet
(Million euros)
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South America | |||
|---|---|---|---|---|
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31-12-13 | Δ % | Δ % (1) | 31-12-12 |
| Cash and balances with central banks | 13,507 | 4.6 | 37.0 | 12,908 |
| Financial assets | 9,765 | (3.8) | 18.8 | 10,146 |
| Loans and receivables | 51,881 | 0.5 | 23.4 | 51,638 |
| Loans and advances to customers | 46,962 | (0.4) | 21.8 | 47,146 |
| Loans and advances to credit institutions and other | 4,919 | 9.5 | 40.4 | 4,492 |
| Tangible assets | 943 | 7.1 | 37.4 | 881 |
| Other assets | 2,043 | 7.5 | 30.3 | 1,901 |
| Total assets/liabilities and equity | 78,141 | 0.9 | 25.2 | 77,474 |
| Deposits from central banks and credit institutions | 4,589 | (22.8) | (11.1) | 5,947 |
| Deposits from customers | 55,167 | 2.4 | 29.7 | 53,870 |
| Debt certificates | 3,556 | 9.0 | 24.9 | 3,263 |
| Subordinated liabilities | 1,252 | 4.7 | 19.6 | 1,196 |
| Financial liabilities held for trading | 1,069 | 11.9 | 27.8 | 955 |
| Other liabilities | 9,302 | 2.5 | 25.5 | 9,074 |
| Economic capital allocated | 3,205 | 1.1 | 25.5 | 3,169 |
Relevant business indicators
(Million euros and percentage)
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South America | ||
|---|---|---|---|
|
|
31-12-13 | 30-09-13 | 31-12-12 |
| Performing loans (1) | 47,753 | 43,724 | 39,241 |
| Customer deposits under management (1-2) | 58,881 | 52,796 | 45,306 |
| Mutual funds | 2,952 | 2,947 | 3,355 |
| Pension funds | 3,600 | 3,352 | 3,081 |
| Efficiency ratio (%) | 42.4 | 43.3 | 42.8 |
| NPA ratio (%) | 2.1 | 2.2 | 2.1 |
| NPA coverage ratio (%) | 141 | 137 | 146 |
| Risk premium (%) | 1.49 | 1.39 | 1.34 |