Balance sheet and business activity

The most relevant aspects of the Group’s balance sheet and business activity as of March 31, 2019 is summarized below:

  • Loans and advances to customers (gross) registered a growth of 1.8% in the quarter (up 1.4% at constant exchange rates), in all business areas, especially in Turkey, South America and Rest of Eurasia.
  • Non-performing loans continued to decrease year-on-year (down 11.4%), thanks to the positive performance showed, especially in Spain and, to a lesser extent, Rest of Eurasia. However, there was a slight rebound of 1.2% in the quarter due to increases in the United States, Turkey and, to a lesser extent, South America.
  • In terms of customer deposits, time deposits decreased by 3.3% in the quarter (down 12.6% year-on-year), offset by an increase of 2.7% in demand deposits in the quarter (up 10.7% year-on-year), particularly in Spain and, to a lesser extent, the United States.
  • Within off-balance-sheet funds, both investment funds and pension funds showed a positive trend in this quarter.
  • In tangible assets, the balance as of March 31, 2019 is affected by the impact of the implementation of IFRS 16 “Leases”, which entails an increase of 44.0% compared to the end of the previous fiscal year.

Consolidated balance sheet (Millions of euros)

31-03-19 ∆% 31-12-18 31-03-18
Cash, cash balances at central banks and other demand deposits 50,059 (14.0) 58,196 43,167
Financial assets held for trading 92,366 2.5 90,117 94,745
Non-trading financial assets mandatorily at fair value through profit or loss 5,535 7.8 5,135 4,360
Financial assets designated at fair value through profit or loss 1,311 (0.2) 1,313 1,330
Financial assets at fair value through accumulated other comprehensive income 60,204 6.9 56,337 59,212
Financial assets at amortized cost 433,008 3.2 419,660 417,646
Loans and advances to central banks and credit institutions 15,787 20.5 13,103 17,751
Loans and advances to customers 380,799 1.8 374,027 367,986
Debt securities 36,421 12.0 32,530 31,909
Investments in subsidiaries, joint ventures and associates 1,587 0.6 1,578 1,395
Tangible assets 10,408 44.0 7,229 7,238
Intangible assets 8,383 0.8 8,314 8,203
Other assets 28,338 (1.6) 28,809 48,392
Total assets 691,200 2.1 676,689 685,688
Financial liabilities held for trading 80,818 0.1 80,774 86,767
Other financial liabilities designated at fair value through profit or loss 7,846 12.2 6,993 6,075
Financial liabilities at amortized cost 520,464 2.2 509,185 497,298
Deposits from central banks and credit institutions 64,427 8.7 59,259 63,031
Deposits from customers 378,527 0.7 375,970 360,213
Debt certificates 62,365 2.1 61,112 60,866
Other financial liabilities 15,144 17.9 12,844 13,188
Liabilities under insurance contracts 10,577 7.6 9,834 9,624
Other liabilities 17,948 5.4 17,029 33,881
Total liabilities 637,653 2.2 623,814 633,645
Non-controlling interests 5,718 (0.8) 5,764 6,665
Accumulated other comprehensive income (6,656) (7.8) (7,215) (6,195)
Shareholders’ funds 54,485 0.3 54,326 51,573
Total equity 53,547 1.3 52,874 52,043
Total liabilities and equity 691,200 2.1 676,689 685,688
Memorandum item:
Guarantees given 46,406 (2.3) 47,574 47,519
  • General note: the application of accounting for hyperinflation in Argentina was performed for the first time in September 2018 with accounting effects on January 1, 2018, recording the impact of the nine months in the third quarter. In order to make the 2019 information comparable to 2018, the balance sheet of the first three quarters of 2018 has been reexpressed to reflect the impacts of inflation on its assets and liabilities.

Loans and advances to customers (Millions of euros)

31-03-19 ∆% 31-12-18 31-03-18
Public sector 29,138 2.2 28,504 28,176
Individuals 171,947 0.8 170,501 169,541
Mortgages 111,772 0.2 111,528 112,979
Consumer 36,159 3.5 34,939 33,335
Credit cards 13,644 1.0 13,507 13,263
Other loans 10,371 (1.5) 10,527 9,963
Business 175,678 2.8 170,872 165,398
Non-performing loans 16,559 1.3 16,348 18,569
Loans and advances to customers (gross) 393,321 1.8 386,225 381,683
Loan-loss provisions (12,522) 2.7 (12,199) (13,697)
Loans and advances to customers 380,799 1.8 374,027 367,986

Loans and advances to customers (gross)
(Billions of euros)

(1) At constant exchange rates: +1.4%.

Customer funds
(Billions of euros)


(1) At constant exchange rates: +1.1%.

Customer funds
(Millions of euros)

31-03-19 ∆% 31-12-18 31-03-18
Deposits from customers 378,527 0.7 375,970 360,213
Of which current accounts 267,614 2.7 260,573 239,360
Of which time deposits 104,698 (3.3) 108,313 113,469
Other customer funds 103,227 5.2 98,150 98,900
Mutual funds and investment companies 64,928 5.8 61,393 62,819
Pension funds 35,071 3.7 33,807 33,604
Other off-balance sheet funds 3,228 9.5 2,949 2,477
Total customer funds 481,754 1.6 474,120 459,113