Corporate Center
Financial statements (Millions of euros and percentage)
| Income statement | 2Q21 | ∆% | 2Q20 |
|---|---|---|---|
| Net interest income | (82) | 3.3 | (79) |
| Net fees and commissions | (23) | (39.5) | (38) |
| Net trading income | 168 | (22.1) | 215 |
| Other operating income and expenses | 84 | n.s | 8 |
| Gross income | 147 | 38.3 | 106 |
| Operating expenses | (424) | 2.5 | (413) |
| Personnel expenses | (268) | 15.3 | (232) |
| Other administrative expenses | 61 | (28.2) | 85 |
| Depreciation | 95) | (1.1) | (96) |
| Operating income | (277) | (9.8) | (307) |
| Impairment on financial assets not measured at fair value through profit or loss | 0 | (48.4) | 0 |
| Provisions or reversal of provisions and other results | (19) | (82.5) | (109) |
| Profit/(loss) before tax | (296) | (28.8) | (416) |
| Income tax | 9 | (86.7) | 66 |
| Profit/(loss) for the period | (287) | (17.9) | (350) |
| Non-controlling interests | (5) | n.s. | (1) |
| Net attributable profit excluding non-recurring impacts | (292) | (16.7) | (350) |
| Profit/(loss) after tax from discontunued operations (1) | 280 | n.s. | (2,104) |
| Net cost related to the restructuring process | (696) | n.s. | - |
| Net attributable profit/(loss) | (708) | (71.2) | (2,454) |
- (1) Including the results generated by BBVA USA and the rest of the Group's companies in the United States sold to PNC on June 1, 2021.
| Balance sheets | 30-06-21 | ∆% | 31-12-20 |
|---|---|---|---|
| Cash, cash balances at central banks and other demand deposits | 10,201 | n.s. | 874 |
| Financial assets designated at fair value | 1,903 | 29.9 | 1,464 |
| Of which: Loans and advances | - | n.s. | - |
| Financial assets at amortized cost | 1,660 | (3.4) | 1,718 |
| Of which: Loans and advances to customers | 575 | 13.9 | 505 |
| Inter-area positions | - | - | - |
| Tangible assets | 2,020 | (2.1) | 2,063 |
| Other assets | 15,359 | (84.5) | 99,298 |
| Total assets/liabilities and equity | 31,142 | (70.5) | 105,416 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 8 | (89.5) | 72 |
| Deposits from central banks and credit institutions | 830 | (1.8) | 845 |
| Deposits from customers | 173 | (52.3) | 363 |
| Debt certificates | 1,882 | (56.7) | 4,344 |
| Inter-area positions | 6,842 | n.s. | 64 |
| Other liabilities | 5,871 | (93.0) | 83,707 |
| Regulatory capital allocated | (34,408) | 1.2 | (33,998) |
| Total equity | 49.944 | (0.2) | 50,020 |
The Corporate Center recorded a cumulative net attributable loss of €292m in the first half of 2021, excluding several non-recurring impacts, among them:
- The profit/(loss) after tax from discontinued operations which includes the results generated by the Group businesses in the United States included in the sale agreement with PNC until their sale on June 1, 2021, which amounted to €280m. The result at the end of June 2020 stood at €-2,104m, including the goodwill impairment in the United States which amounted to €-2,084m.
- The net cost related to the restructuring process in Spain, amounting to €-696m, of which €-754m, before tax, correspond to the collective layoff and €-240m, before tax, correspond to branches closures.
Including both non-recurring impacts, the Corporate center recorded a cumulative net attributable loss of €708m in the first half of 2021, considerably lower (-71.2%) than the net attributable loss in the same period of 2020 (€2,454m).