Corporate Center
Financial statements (Millions of euros and percentage)
| Income statement | Jan.-Sep. 23 | ∆% | Jan.-Sep. 22 |
|---|---|---|---|
| Net interest income | (253) | 159.8 | (97) |
| Net fees and commissions | (40) | 59.8 | (25) |
| Net trading income | (697) | n.s. | (80) |
| Other operating income and expenses | 48 | (18.1) | 59 |
| Gross income | (943) | n.s. | (144) |
| Operating expenses | (614) | 3.5 | (593) |
| Personnel expenses | (475) | 14.4 | (415) |
| Other administrative expenses | 16 | n.s. | (29) |
| Depreciation | (155) | 3.9 | (149) |
| Operating income | (1,557) | 111.1 | (737) |
| Impairment on financial assets not measured at fair value through profit or loss | 1 | n.s. | (1) |
| Provisions or reversal of provisions and other results | (2) | (44.1) | (3) |
| Profit (loss) before tax | (1,558) | 110.1 | (741) |
| Income tax | 232 | 38.2 | 168 |
| Profit (loss) for the period | (1,326) | 131.2 | (574) |
| Non-controlling interests | 5 | (36.3) | 7 |
| Net attributable profit (loss) | (1,321) | 133.4 | (566) |
| Balance sheets | 30-09-23 | ∆% | 31-12-22 |
|---|---|---|---|
| Cash, cash balances at central banks and other demand deposits | 649 | (24.2) | 856 |
| Financial assets designated at fair value | 2,422 | 1.3 | 2,390 |
| Of which: Loans and advances | 16 | n.s. | - |
| Financial assets at amortized cost | 3,446 | 5.7 | 3,262 |
| Of which: Loans and advances to customers | 129 | (53.5) | 278 |
| Inter-area positions | - | - | - |
| Tangible assets | 1,775 | (4.7) | 1,863 |
| Other assets | 14,379 | 0.2 | 14,349 |
| Total assets/liabilities and equity | 22,671 | (0.2) | 22,719 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 382 | 253.0 | 108 |
| Deposits from central banks and credit institutions | 779 | 14.3 | 682 |
| Deposits from customers | 191 | 2.3 | 187 |
| Debt certificates | 108 | n.s. | (863) |
| Inter-area positions | 3,850 | (51.7) | 7,963 |
| Other liabilities | 5,798 | 44.5 | 4,011 |
| Regulatory capital allocated | (41,890) | 5.0 | (39,887) |
| Total equity | 53,453 | 5.8 | 50,517 |
Results
The Corporate Center recorded, between January and September of 2023, a net attributable profit of €-1,321m , compared with €-566m recorded in the same period of the previous year, mainly due to a negative contribution in the NTI line from exchange rate hedges as a result of a better than expected currency performance, in particular the Mexican peso.
In the quarterly evolution of this aggregate, it is worth highlighting the favorable performance of NTI, which together with a contained operating expenses, have supported the improvement in the quarterly net attributable profit compared to the previous quarter.