Balance sheet and business activity

The most relevant aspects related to the evolution of the Group's balance sheet and business activity as of December 31, 2022 are summarized below:

  • Loans and advances to customers grew by 1.4% compared to the end of December 2022, strongly favored by the evolution of retail loans (+2.9% at Group level), supported by the good performance of both credit cards and consumer loans (+6.2% overall at Group level) in Mexico and Turkey and, to a lesser extent, by the good evolution of mortgage loans in Mexico.
  • Customer funds increased by 2.3% compared to the end of December 2022, thanks to the good performance of off-balance sheet funds (+7.2%), also linked to increased customer preference for them, particularly mutual funds in Mexico and Spain. For its part, customer deposits remained stable compared to the end of the previous year (+0.4%), with a reduction in demand deposits in Spain, offset by an increase in time deposits in Turkey and, to a lesser extent, in South America.

CONSOLIDATED BALANCE SHEET (MILLIONS OF EUROS)

31-03-23 ∆% 31-12-22 31-03-22
Cash, cash balances at central banks and other demand deposits 83,267 4.4 79,756 70,937
Financial assets held for trading 119,877 8.3 110,671 112,131
Non-trading financial assets mandatorily at fair value through profit or loss 7,227 4.9 6,888 6,625
Financial assets designated at fair value through profit or loss 997 9.2 913 1,036
Financial assets at fair value through accumulated other comprehensive income 66,277 1.4 65,374 71,079
Financial assets at amortized cost 427,259 3.1 414,421 381,838
Loans and advances to central banks and credit institutions 22,256 8.9 20,431 16,750
Loans and advances to customers 362,317 1.4 357,351 334,553
Debt securities 42,686 16.5 36,639 30,536
Investments in joint ventures and associates 920 0.4 916 911
Tangible assets 8,945 2.4 8,737 7,628
Intangible assets 2,209 2.4 2,156 2,056
Other assets 22,586 1.5 22,259 21,465
Total assets 739,564 3.9 712,092 675,706
Financial liabilities held for trading 107,185 12.1 95,611 85,960
Other financial liabilities designated at fair value through profit or loss 11,309 6.9 10,580 9,761
Financial liabilities at amortized cost 542,326 2.5 529,172 504,940
Deposits from central banks and credit institutions 75,109 15.1 65,258 73,161
Deposits from customers 395,880 0.4 394,404 361,195
Debt certificates 54,586 (1.5) 55,429 53,540
Other financial liabilities 16,751 19.0 14,081 17,045
Liabilities under insurance and reinsurance contracts 11,010 8.7 10,131 9,620
Other liabilities 16,263 1.1 16,081 16,577
Total liabilities 688,093 4.0 661,575 626,859
Non-controlling interests 3,680 1.6 3,623 5,510
Accumulated other comprehensive income (16,195) (8.2) (17,642) (14,109)
Shareholders’ funds 63,986 (0.9) 64,535 57,446
Total equity 51,471 1.9 50,517 48,847
Total liabilities and equity 739,564 3.9 712,092 675,706
Memorandum item:
Guarantees given 55,042 (0.3) 55,182 48,891

General note: 2022 figures have been restated according to IFRS17 - Insurance contracts.


LOANS AND ADVANCES TO CUSTOMERS (MILLIONS OF EUROS)

31-03-23 ∆% 31-12-22 31-03-22
Public sector 21,752 4.2 20,884 20,517
Individuals 161,346 2.9 156,838 149,936
Mortgages 91,999 0.5 91,569 92,598
Consumer 37,663 4.7 35,965 32,845
Credit cards 18,997 9.3 17,382 13,326
Other loans 12,687 6.4 11,921 11,168
Business 177,168 (0.1) 177,374 160,785
Non-performing loans 13,215 (2.1) 13,493 14,731
Loans and advances to customers (gross) 373,481 1.3 368,588 345,970
Allowances (1) (11,164) (0.7) (11,237) (11,417)
Loans and advances to customers 362,317 1.4 357,351 334,553

(1) Allowances include valuation adjustments for credit risk throughout the expected residual life in those financial instruments that have been acquired (mainly originating from the acquisition of Catalunya Banc, S.A.). As of March 31, 2023, December 31, 2022 and March 31, 2022, the remaining amount was €173m, €190m and €245m, respectively.


LOANS AND ADVANCES TO CUSTOMERS (BILLIONS OF EUROS)

(1) At constant exchange rates: +0.8%.

CUSTOMER FUNDS (BILLIONS OF EUROS)



(1) At constant exchange rates: +1.7%.


CUSTOMER FUNDS (MILLIONS OF EUROS)

31-03-23 ∆% 31-12-22 31-03-22
Deposits from customers 395,880 0.4 394,404 361,195
Current accounts 308,918 (2.3) 316,082 301,333
Time deposits 83,516 10.4 75,646 58,649
Other deposits 3,446 28.8 2,676 1,213
Other customer funds 160,959 7.2 150,172 147,244
Mutual funds and investment companies and customer portfolios (1) 118,640 8.9 108,936 106,323
Pension funds 38,901 0.6 38,653 38,460
Other off-balance sheet funds 3,418 32.4 2,582 2,461
Total customer funds 556,839 2.3 544,576 508,439

(1) Includes the customer portfolios in Spain, Mexico, Colombia and Peru.