Balance sheet and business activity

The most relevant aspects of the Group's balance sheet and business activity as of June 30, 2019 are summarized below:

  • Loans and advances to customers (gross) registered a growth of 0.8% in the first half of 2019 (up 1.1% at constant exchange rates), with increases in the business areas of Mexico, South America, the Rest of Eurasia, and, to a lesser extent, Spain.
  • Non-performing loans fell by 2.2% in the first six months of 2019 (down 15.0% year-on-year), mainly due to the decrease registered in Spain resulting from the sale of non-performing loans portfolios and, to a lesser extent, in the Rest of Eurasia.
  • In terms of customer deposits, time deposits decreased by 8.0% in the first half (down 15.2% year-on-year), primarily in Spain, Turkey and the United States, which was not compensated by the 3.2% increase in demand deposits in the first six months of 2019 (up 6.7% year-on-year), especially in Spain. 
  • Off-balance-sheet funds registered a growth of 5.8% in the first half of the year, thanks to the strong performance of, both, mutual funds and pension funds.
  • In terms of tangible assets, the balance as of June 30, 2019 is affected, above all, by the implementation of IFRS 16 “Leases”, with a growth of 42.5% compared to the end of the previous fiscal year.

Consolidated balance sheet (Millions of euros)

30-06-19 ∆% 31-12-18 30-06-18
Cash, cash balances at central banks and other demand deposits 44,565 (23.4) 58,196 37,279
Financial assets held for trading 105,369 16.9 90,117 91,018
Non-trading financial assets mandatorily at fair value through profit or loss 4,918 (4.2) 5,135 4,377
Financial assets designated at fair value through profit or loss 1,403 6.9 1,313 1,487
Financial assets at fair value through accumulated other comprehensive income 63,364 12.5 56,337 63,212
Financial assets at amortized cost 430,930 2.7 419,660 426,349
Loans and advances to central banks and credit institutions 16,421 25.3 13,103 17,092
Loans and advances to customers 377,155 0.8 374,027 377,175
Debt securities 37,354 14.8 32,530 32,082
Investments in subsidiaries, joint ventures and associates 1,638 3.8 1,578 1,470
Tangible assets 10,302 42.5 7,229 6,987
Intangible assets 8,262 (0.6) 8,314 8,377
Other assets 26,876 (6.7) 28,809 49,295
Total assets 697,626 3.1 676,689 689,850
Financial liabilities held for trading 91,358 13.1 80,774 83,667
Other financial liabilities designated at fair value through profit or loss 8,922 27.6 6,993 6,221
Financial liabilities at amortized cost 513,937 0.9 509,185 503,073
Deposits from central banks and credit institutions 61,457 3.7 59,259 62,041
Deposits from customers 375,104 (0.2) 375,970 367,312
Debt certificates 62,685 2.6 61,112 62,349
Other financial liabilities 14,692 14.4 12,844 11,370
Liabilities under insurance and reinsurance contracts 10,634 8.1 9,834 9,500
Other liabilities 18,085 6.2 17,029 35,112
Total liabilities 642,936 3.1 623,814 637,573
Non-controlling interests 5,839 1.3 5,764 6,400
Accumulated other comprehensive income (6,923) (4.1) (7,215) (6,612)
Shareholders’ funds 55,774 2.7 54,326 52,490
Total equity 54,690 3.4 52,874 52,278
Total liabilities and equity 697,626 3.1 676,689 689,850
Memorandum item:
Guarantees given 45,650 1.0 45,831 45,207
  • 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 the 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)

30-06-19 ∆% 31-12-18 30-06-18
Public sector 29,062 2.0 28,504 28,716
Individuals 173,191 1.6 170,501 171,481
Mortgages 110,908 (0.6) 111,528 113,184
Consumer 36,413 4.2 34,939 34,317
Credit cards 13,928 3.1 13,507 13,105
Other loans 11,942 13.4 10,527 10,875
Business 171,053 0.1 170,872 171,836
Non-performing loans 15,999 (2.1) 16,348 18,627
Loans and advances to customers (gross) 389,306 0.8 386,225 390,661
Loan-loss provisions (12,151) (0.4) (12,199) (13,486)
Loans and advances to customers 377,155 0.8 374,027 377,175

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

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

Customer funds
(Billions of euros)


(1) At constant exchange rates: +1.2%.

Customer funds
(Millions of euros)

30-06-19 ∆% 31-12-18 30-06-18
Deposits from customers 375,104 (0.2) 375,970 367,312
Current accounts 269,010 3.2 260,573 249,579
Time deposits 99,693 (8.0) 108,313 110,548
Other deposits 6,401 (9.6) 7,084 7,185
Other customer funds 103,804 5.8 98,150 101,498
Mutual funds and investment companies 65,681 7.0 61,393 64,686
Pension funds 34,960 3.4 33,807 33,890
Other off-balance sheet funds 3,162 7.2 2,949 2,922
Total customer funds 478,907 1.0 474,120 468,811