Balance sheet and business activity



The most relevant aspects related to the evolution of the Group's balance sheet and business activity as of September 30, 2024 are summarized below:

  1. Loans and advances to customers recorded an increase of 2.4% compared to the end of December 2023, particularly driven by the evolution of corporate loans (+4.6% at Group level), and by the positive performance of loans to individuals, especially consumer loans and credit cards, that together grew by 2.6%.
  2. Customer funds increased by 7.4% compared to the end of the previous year, driven by the evolution of off-balance sheet funds (+11.4%, with a good performance in Spain and Turkey), and by the growth of customers deposits (+5.9%).

CONSOLIDATED BALANCE SHEET (MILLIONS OF EUROS)
30-09-24∆ %31-12-2330-09-23
Cash, cash balances at central banks and other demand deposits58,588(22.3)75,41666,859
Financial assets held for trading127,551(9.6)141,042134,804
Non-trading financial assets mandatorily at fair value through profit or loss9,5609.48,7378,490
Financial assets designated at fair value through profit or loss869(9.0)955939
Financial assets at fair value through accumulated other comprehensive income59,961(3.6)62,20563,792
Financial assets at amortized cost475,8615.3451,732446,046
Loans and advances to central banks and credit institutions31,61528.424,62721,674
Loans and advances to customers386,7312.4377,643376,336
Debt securities57,51516.349,46248,036
Investments in joint ventures and associates973(0.3)976926
Tangible assets9,3511.19,2539,385
Intangible assets2,322(1.7)2,3632,310
Other assets24,3046.222,87824,184
Total assets769,341(0.8)775,558757,736
Financial liabilities held for trading98,313(19.2)121,715118,276
Other financial liabilities designated at fair value through profit or loss14,4438.613,29912,862
Financial liabilities at amortized cost571,3812.5557,589544,853
Deposits from central banks and credit institutions48,547(19.6)60,34960,140
Deposits from customers437,8345.9413,487403,861
Debt certificates67,325(2.0)68,70765,241
Other financial liabilities17,67617.515,04615,612
Liabilities under insurance and reinsurance contracts10,970(9.4)12,11011,260
Other liabilities17,46112.115,58017,032
Total liabilities 712,568(1.1)720,293704,283
Non-controlling interests3,8838.93,5643,703
Accumulated other comprehensive income(17,647)8.6(16,254)(16,213)
Shareholders’ funds70,5363.867,95565,963
Total equity56,7722.755,26553,453
Total liabilities and equity 769,341(0.8)775,558757,736
Memorandum item:
Guarantees given63,5715.960,01957,520
LOANS AND ADVANCES TO CUSTOMERS (MILLIONS OF EUROS)
30-09-24∆ %31-12-2330-09-23
Public sector21,823(6.2)23,26923,178
Individuals169,9671.1168,123167,675
Mortgages92,707(0.7)93,35893,306
Consumer43,2111.242,69542,498
Credit cards22,7795.421,60921,350
Other loans11,2697.710,46110,521
Business191,5114.6183,076182,766
Non-performing loans14,5901.014,44413,947
Loans and advances to customers (gross)397,8912.3388,912387,565
Allowances (1)(11,160)(1.0)(11,269)(11,229)
Loans and advances to customers386,7312.4377,643376,336

(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 September 30, 2024, December 31, 2023 and September 30, 2023 the remaining amount was €114m, €142m and €153m respectively.

LOANS AND ADVANCES TO CUSTOMERS
(BILLIONS OF EUROS)

Chart. Loans & advances to customers


(1) At constant exchange rates: +8.5%.

CUSTOMER FUNDS
(BILLIONS OF EUROS)

Chart. Customer funds


(1) At constant exchange rates: +14.1%.



CUSTOMER FUNDS (MILLIONS OF EUROS)
30-09-24∆ %31-12-2330-09-23
Deposits from customers437,8345.9413,487403,861
Current accounts314,916(0.8)317,543309,847
Time deposits102,45411.991,52490,102
Other deposits20,464n.s.4,4203,911
Other customer funds183,05711.4164,367160,485
Mutual funds and investment companies and customer portfolios (1)147,61312.0131,849128,985
Pension funds30,6628.228,32627,304
Other off-balance sheet funds4,78214.14,1924,196
Total customer funds620,8917.4577,853564,346

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

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