Financial statements (Millions of euros and percentage)
| Income statement |
1H19 |
∆% |
1H18 |
| Net interest income |
(132) |
(4.1) |
(137) |
| Net fees and commissions |
(44) |
36.6 |
(32) |
| Net trading income |
(74) |
27.8 |
(58) |
| Other operating income and expenses |
13 |
(65.7) |
39 |
| Gross income |
(236) |
25.4 |
(188) |
| Operating expenses |
(482) |
11.3 |
(433) |
| Personnel expenses |
(280) |
10.4 |
(254) |
| Other administrative expenses |
(111) |
50.2 |
(74) |
| Depreciation |
(91) |
(13.6) |
(105) |
| Operating income |
(718) |
15.6 |
(621) |
| Impaiment on financial assets not measured at fair value through profit or loss |
- |
- |
- |
| Provisions or reversal of provisions and other results |
(44) |
(43.3) |
(77) |
| Profit/(loss) before tax |
(762) |
9.1 |
(698) |
| Income tax |
156 |
3.9 |
150 |
| Profit/(loss) after tax from ongoing operations |
(606) |
10.6 |
(548) |
| Results from corporate operations |
- |
- |
- |
| Profit/(loss) for the year |
(606) |
10.6 |
(548) |
| Non-controlling interests |
(10) |
2.4 |
(10) |
| Net attributable profit |
(616) |
10.4 |
(558) |
| Net attributable profit excluding results from corporate operations |
(616) |
10.4 |
(558) |
| Balance sheets |
30-06-19 |
∆% |
31-12-18 |
| Cash. cash balances at central banks and other demand deposits |
933 |
27.4 |
732 |
| Financial assets designated at fair value |
2,615 |
(4.5) |
2,738 |
| Of which: Loans and advances |
- |
- |
- |
| Financial assets at amortized cost |
2,034 |
(23.7) |
2,665 |
| Of which: Loans and advances to customers |
349 |
(64.8) |
990 |
| Inter-area positions |
(18,794) |
34.0 |
(14,026) |
| Tangible assets |
2,232 |
41.9 |
1,573 |
| Other assets |
21,546 |
(4.7) |
22,598 |
| Total assets/liabilities and equity |
10,567 |
(35.1) |
16,281 |
| Financial liabilities held for trading and designated at fair value through profit or loss |
16 |
(60,3) |
39 |
| Deposits from central banks and credit institutions |
874 |
19.2 |
733 |
| Deposits from customers |
302 |
n.s. |
36 |
| Debt certificates |
6,945 |
(15.4) |
8,212 |
| Inter-area positions |
(28,822) |
26.4 |
(22,808) |
| Other liabilities |
197 |
(90.0) |
1,975 |
| Economic capital allocated |
(22,442) |
2.8 |
(21,833) |
| Shareholders' funds |
53,496 |
7.1 |
49,927 |
The Corporate Center registered a net attributable loss of €616m in the first half of 2019, compared to the loss of €558m in the same period of 2018 (up 10.4%). The most relevant results in the first half of the year were:
- Negative contribution from NTI, mainly due to the solid performance of the Mexican peso, since this line includes results related to exchange rate hedges of the year’s results and those from operations with industrial and financial holdings.
- Other income/expenses mainly includes the dividends of Telefónica, S.A. and the earnings of the companies accounted for the equity method, including certain investments in companies in the real estate sector.
- Operating expenses include those expenses for central functions that are of corporate nature; the year- on- year increase is related to data and cybersecurity costs.
- Provisions (net) and other gains (losses) decreased 43.3% year-on-year, and includes various expenses such as the Group’s pension contributions and restructuring costs, etc.
