Corporate Center
| FINANCIAL STATEMENTS (MILLIONS OF EUROS AND PERCENTAGE) | |||
|---|---|---|---|
| Income statement | 2024 | ∆ % | 2023 (1) |
| Net interest income | (546) | 41.3 | (386) |
| Net fees and commissions | (36) | (18.0) | (44) |
| Net trading income | 122 | n.s. | (686) |
| Other operating income and expenses | 39 | (55.1) | 87 |
| Gross income | (421) | (59.1) | (1,029) |
| Operating expenses | (776) | 2.1 | (760) |
| Personnel expenses | (774) | 12.3 | (689) |
| Other administrative expenses | 213 | 53.3 | 139 |
| Depreciation | (215) | 2.5 | (210) |
| Operating income | (1,197) | (33.1) | (1,789) |
| Impairment on financial assets not measured at fair value through profit or loss | 1 | (15.4) | 1 |
| Provisions or reversal of provisions and other results | 54 | n.s. | (21) |
| Profit (loss) before tax | (1,142) | (36.9) | (1,809) |
| Income tax | 225 | (14.2) | 262 |
| Profit (loss) for the period | (917) | (40.7) | (1,547) |
| Non-controlling interests | (7) | n.s. | 3 |
| Net attributable profit (loss) | (924) | (40.2) | (1,544) |
Balance sheets | 31-12-24 | ∆ % | 31-12-23 |
| Cash, cash balances at central banks and other demand deposits | 594 | (13.1) | 684 |
| Financial assets designated at fair value | 3,030 | 20.6 | 2,512 |
| Of which: Loans and advances | — | n.s. | — |
| Financial assets at amortized cost | 4,095 | 13.1 | 3,622 |
| Of which: Loans and advances to customers | 297 | 29.1 | 230 |
| Inter-area positions | — | — | — |
| Tangible assets | 1,912 | 10.8 | 1,727 |
| Other assets | 16,170 | 11.3 | 14,530 |
| Total assets/liabilities and equity | 25,802 | 11.8 | 23,074 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 69 | (44.9) | 125 |
| Deposits from central banks and credit institutions | 970 | 26.7 | 765 |
| Deposits from customers | 961 | n.s. | 181 |
| Debt certificates | 1,735 | n.s. | 380 |
| Inter-area positions | 5,917 | 1.9 | 5,809 |
| Other liabilities | 3,553 | (0.8) | 3,581 |
| Regulatory capital allocated | (47,416) | 10.2 | (43,033) |
| Total equity | 60,014 | 8.6 | 55,265 |
(1) Revised balances. For more information, please refer to the “Business Areas” section.
Results
The Corporate Center recorded a net attributable loss of €-924m between January and December of 2024, which is an improvement compared with the €-1,544m recorded in the previous year, mainly due to the favorable evolution of the NTI. The above is the result of the positive contribution from the second quarter of 2024 from the hedges of foreign currency positions, which contrasts with the negative contribution in 2023, originating in both periods in the Mexican peso.