Financial statements (Millions of euros and percentage)
| Income statement |
Jan.-Sep. 19 |
∆% |
Jan.-Sep. 18 |
| Net interest income |
(193) |
(6.5) |
(206) |
| Net fees and commissions |
(61) |
22.9 |
(50) |
| Net trading income |
(53) |
(44.1) |
(96) |
| Other operating income and expenses |
(0) |
n.s. |
37 |
| Gross income |
(308) |
(2.2) |
(315) |
| Operating expenses |
(718) |
8.7 |
(660) |
| Personnel expenses |
(425) |
9.2 |
(389) |
| Other administrative expenses |
(153) |
29.0 |
(118) |
| Depreciation |
(140) |
(8.3) |
(153) |
| Operating income |
(1,025) |
5.2 |
(975) |
| Impaiment on financial assets not measured at fair value through profit or loss |
- |
- |
- |
| Provisions or reversal of provisions and other results |
(64) |
18.3 |
(54) |
| Profit/(loss) before tax |
(1,089) |
5.8 |
(1,029) |
| Income tax |
203 |
(15.9) |
241 |
| Profit/(loss) after tax from ongoing operations |
(886) |
12.5 |
(788) |
| Results from corporate operations (1) |
- |
- |
633 |
| Profit/(loss) for the year |
(886) |
n.s. |
(154) |
| Non-controlling interests |
(5) |
n.s. |
3 |
| Net attributable profit |
(891) |
n.s. |
(151) |
| Net attributable profit excluding results from corporate operations |
(891) |
13.6 |
(784) |
| Balance sheets |
30-09-19 |
∆% |
31-12-18 |
| Cash. cash balances at central banks and other demand deposits |
811 |
10.8 |
732 |
| Financial assets designated at fair value |
2,610 |
(4.7) |
2,738 |
| Of which: Loans and advances |
- |
- |
- |
| Financial assets at amortized cost |
1,839 |
(31.0) |
2,665 |
| Of which: Loans and advances to customers |
125 |
(87.3) |
990 |
| Inter-area positions |
(19,145) |
36.5 |
(14,026) |
| Tangible assets |
2,217 |
40.9 |
1,573 |
| Other assets |
22,053 |
(2.4) |
22,598 |
| Total assets/liabilities and equity |
10,385 |
(36.2) |
16,281 |
| Financial liabilities held for trading and designated at fair value through profit or loss |
16 |
(58.0) |
39 |
| Deposits from central banks and credit institutions |
737 |
0.6 |
733 |
| Deposits from customers |
311 |
n.s. |
36 |
| Debt certificates |
7,985 |
(2.8) |
8,212 |
| Inter-area positions |
(29,988) |
31.5 |
(22,808) |
| Other liabilities |
682 |
(65.5) |
1,975 |
| Economic capital allocated |
(22,793) |
4.4 |
(21,833) |
| Shareholders' funds |
53,434 |
7.0 |
49,927 |
The Corporate Center registered a net attributable loss of €891m in the first nine months of 2019, compared to the loss of €151m in the same period of 2018, which included €633m profit of corporate operations generated by the capital gains (net of taxes) from the sale of BBVA Chile. The most relevant aspects as of September 30, 2019 were:
- Positive performance from NTI during the third quarter of the year, which contributed €20m to the income statement. As a result, the year-on-year comparison in this line is positive, since the losses generated in the first nine months of 2019 were lower than the cumulative amount during the same period of the previous year, mainly due to higher capital gains from the industrial and financial portfolio.
- Other operating income and expenses includes primarily the Telefónica, S.A. dividends, as well as the earnings of companies accounted for using the equity method, including holdings in real estate companies.
- Operating expenses include those expenses of the holding that have a corporate function and whose year-on-year increase (up 8.7%) is associated with those expenses related to data and cybersecurity.
