Corporate Center
| FINANCIAL STATEMENTS (MILLIONS OF EUROS AND PERCENTAGE) | |||
|---|---|---|---|
| Income statement | 6M26 | 𝚫 % | 6M25 (1) |
| Net interest income | (202) | 10.9 | (182) |
| Net fees and commissions | (74) | 35.8 | (54) |
| Net trading income | (232) | 173.2 | (85) |
| Other operating income and expenses | 78 | 25.6 | 62 |
| Gross income | (430) | 65.7 | (260) |
| Operating expenses | (399) | 32.9 | (300) |
| Personnel expenses | (501) | 22.8 | (408) |
| Other administrative expenses | 211 | (1.6) | 215 |
| Depreciation | (109) | 1.9 | (107) |
| Operating income | (829) | 48.1 | (560) |
| Impairment on financial assets not measured at fair value through profit or loss | 5 | n.s. | (2) |
| Provisions or reversal of provisions and other results | 2 | (87.9) | 20 |
| Profit (loss) before tax | (822) | 51.9 | (541) |
| Income tax | 139 | (12.7) | 160 |
| Profit (loss) for the period | (683) | 79.0 | (381) |
| Non-controlling interests | (14) | 56.6 | (9) |
| Net attributable profit (loss) | (696) | 78.5 | (390) |
| Balance sheets (1) | 30-06-26 | 𝚫 % | 31-12-25 (2) |
| Cash, cash balances at central banks and other demand deposits | 499 | (3.4) | 516 |
| Financial assets designated at fair value | 6,452 | (4.2) | 6,737 |
| Of which: Loans and advances | — | — | — |
| Financial assets at amortized cost | 5,201 | 25.4 | 4,146 |
| Of which: Loans and advances to customers | 672 | 86.2 | 361 |
| Inter-area positions | — | — | — |
| Tangible assets | 1,823 | (1.7) | 1,855 |
| Other assets | 15,134 | (3.7) | 15,714 |
| Total assets/liabilities and equity | 29,109 | 0.5 | 28,969 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 254 | 82.4 | 139 |
| Deposits from central banks and credit institutions | 4,208 | 10.9 | 3,793 |
| Deposits from customers | 2,037 | 1.8 | 2,001 |
| Debt certificates | 3,698 | (4.9) | 3,888 |
| Inter-area positions | 1,682 | n.s. | 398 |
| Other liabilities | 4,700 | (3.0) | 4,847 |
| Allocated regulatory capital | (51,261) | 7.0 | (47,895) |
| Total equity | 63,792 | 3.2 | 61,798 |
| (1) Excluding deletions. (2) Revised balances. For more information, please refer to the “Business Areas” section. |
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Results
The Corporate Center recorded in the first half of 2026 a net attributable loss of €696 million, representing a deterioration of 78.5% compared to the €-390 million recorded in the same period of the previous year. The evolution of this aggregate is largely explained by the recording of a more negative NTI in the first half of 2026, originating from exchange rate hedges, mainly due to the appreciation of the Mexican peso in the year. Additionally, operating expenses include, in the personnel expenses line of the first half of 2026, the impact of the voluntary redundancies and, in the general expenses line in both periods, the impact of the re-estimation of the applied pro-rata on the Value Added Tax.
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