2Q25 Report Group Balance Activity - Accionistas e Inversiones en Bolsa, Analistas de Mercados y Financieros

Balance sheet and business activity

During the first half of 2025, loans and advances to customers increased by 3.4%, driven by the dynamism of the wholesale segment. Of particular note within this segment was the higher volume of loans to companies, which grew by 3.4% at the Group level, and, to a lesser extent, loans to the public sector, up 18.6%. Loans to individuals increased by 1.8%, with growth in all segments except in credit cards (seasonal because of the campaigns at the end of the year).

Customer funds grew by 1.7% in the first six months of the year, driven by mutual funds and managed portfolios, which grew by 6.2%, while customer deposits remained virtually flat at the Group level (+0.1%).

CONSOLIDATED BALANCE SHEET (MILLIONS OF EUROS)

	30-06-25	𝚫 %	31-12-24	30-06-24
Cash, cash balances at central banks and other demand deposits	40,017	(21.8)	51,145	45,055
Financial assets held for trading	106,396	(2.3)	108,948	123,821
Non-trading financial assets mandatorily at fair value through profit or loss	10,841	2.8	10,546	10,584
Financial assets designated at fair value through profit or loss	980	17.2	836	856
Financial assets at fair value through accumulated other comprehensive income	58,182	(1.4)	59,002	60,691
Financial assets at amortized cost	523,662	4.2	502,400	481,213
Loans and advances to central banks and credit institutions	33,075	7.0	30,909	28,959
Loans and advances to customers	426,663	3.4	412,477	393,803
Debt securities	63,923	8.3	59,014	58,450
Investments in joint ventures and associates	998	0.9	989	964
Tangible assets	9,213	(5.6)	9,759	9,650
Intangible assets	2,563	2.9	2,490	2,379
Other assets	24,122	(8.2)	26,287	24,322
Total assets	776,974	0.6	772,402	759,534
Financial liabilities held for trading	82,995	(4.2)	86,591	93,546
Other financial liabilities designated at fair value through profit or loss	16,061	7.4	14,952	14,935
Financial liabilities at amortized cost	588,469	0.7	584,339	565,752
Deposits from central banks and credit institutions	49,913	1.7	49,074	49,436
Deposits from customers	448,018	0.1	447,646	430,984
Debt certificates	71,802	2.8	69,867	69,061
Other financial liabilities	18,736	5.5	17,753	16,271
Liabilities under insurance and reinsurance contracts	11,527	5.0	10,981	11,520
Other liabilities	17,036	9.7	15,525	16,690
Total liabilities	716,088	0.5	712,388	702,443
Non-controlling interests	4,059	(6.9)	4,359	3,851
Accumulated other comprehensive income	(18,896)	9.7	(17,220)	(16,416)
Shareholders’ funds	75,724	3.9	72,875	69,656
Total equity	60,887	1.5	60,014	57,091
Total liabilities and equity	776,974	0.6	772,402	759,534
Memorandum item:
Guarantees given	65,474	1.9	64,257	64,731

LOANS AND ADVANCES TO CUSTOMERS (MILLIONS OF EUROS)

	30-06-25	𝚫 %	31-12-24	30-06-24
Public sector	26,218	18.6	22,108	23,313
Individuals	180,875	1.8	177,751	174,604
Mortgages	95,713	1.2	94,577	94,362
Consumer	46,981	3.1	45,562	44,238
Credit cards	25,183	(3.4)	26,067	23,207
Other loans	12,999	12.6	11,544	12,797
Business	217,061	3.4	210,017	192,431
Non-performing loans	14,131	(0.6)	14,211	14,672
Loans and advances to customers (gross)	438,285	3.3	424,087	405,021
Allowances ⁽¹⁾	(11,621)	0.1	(11,611)	(11,218)
Loans and advances to customers	426,663	3.4	412,477	393,803
⁽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 June 30, 2025, December 31, 2024 and June 30, 2024 the remaining amount was €86m, €107m and €122m, respectively.

LOANS AND ADVANCES TO CUSTOMERS
(BILLIONS OF EUROS)

⁽¹⁾ At constant exchange rates: +8.1%.

CUSTOMER FUNDS
(BILLIONS OF EUROS)

⁽¹⁾ At constant exchange rates: +5.9%.

CUSTOMER FUNDS (MILLIONS OF EUROS)

	30-06-25	𝚫 %	31-12-24	30-06-24
Deposits from customers	448,018	0.1	447,646	430,984
Current accounts	332,549	0.2	331,780	316,246
Time deposits	103,519	(2.7)	106,362	100,617
Other deposits	11,949	25.7	9,503	14,120
Other customer funds	203,225	5.5	192,604	181,110
Mutual funds and investment companies and customer portfolios ⁽¹⁾	166,027	6.2	156,265	145,734
Pension funds	31,763	0.5	31,614	29,948
Other off-balance sheet funds	5,436	15.0	4,726	5,427
Total customer funds	651,243	1.7	640,250	612,094
⁽¹⁾ Includes the customer portfolios in Spain, Mexico, Peru and Colombia.

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Balance sheet and business activity

LOANS AND ADVANCES TO CUSTOMERS (BILLIONS OF EUROS)

CUSTOMER FUNDS (BILLIONS OF EUROS)

LOANS AND ADVANCES TO CUSTOMERS
(BILLIONS OF EUROS)

CUSTOMER FUNDS
(BILLIONS OF EUROS)