Corporate Center
| FINANCIAL STATEMENTS (MILLIONS OF EUROS AND PERCENTAGE) | |||
|---|---|---|---|
| Income statement | 2025 | 𝚫 % | 2024 (1) |
| Net interest income | (469) | (5.3) | (495) |
| Net fees and commissions | (127) | 80.4 | (71) |
| Net trading income | (200) | n.s. | 138 |
| Other operating income and expenses | 118 | 201.7 | 39 |
| Gross income | (678) | 74.5 | (388) |
| Operating expenses | (786) | 0.9 | (779) |
| Personnel expenses | (869) | 12.0 | (776) |
| Other administrative expenses | 296 | 39.7 | 212 |
| Depreciation | (213) | (0.9) | (215) |
| Operating income | (1,464) | 25.4 | (1,168) |
| Impairment on financial assets not measured at fair value through profit or loss | (1) | n.s. | 3 |
| Provisions or reversal of provisions and other results | 25 | (54.3) | 54 |
| Profit (loss) before tax | (1,440) | 29.8 | (1,110) |
| Income tax | 361 | 68.1 | 215 |
| Profit (loss) for the period | (1,079) | 20.6 | (895) |
| Non-controlling interests | (7) | 5.9 | (7) |
| Net attributable profit (loss) | (1,086) | 20.5 | (901) |
| Balance sheets (1) | 31-12-25 | 𝚫 % | 31-12-24 (2) |
| Cash, cash balances at central banks and other demand deposits | 510 | (14.2) | 594 |
| Financial assets designated at fair value | 6,729 | (16.0) | 8,007 |
| Of which: Loans and advances | — | — | — |
| Financial assets at amortized cost | 3,935 | (3.9) | 4,095 |
| Of which: Loans and advances to customers | 360 | 21.1 | 297 |
| Inter-area positions | — | — | — |
| Tangible assets | 1,855 | (3.0) | 1,912 |
| Other assets | 15,716 | (2.8) | 16,168 |
| Total assets/liabilities and equity | 28,745 | (6.6) | 30,777 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 139 | 70.9 | 82 |
| Deposits from central banks and credit institutions | 3,793 | (19.7) | 4,721 |
| Deposits from customers | 2,001 | (2.7) | 2,057 |
| Debt certificates | 4,074 | 134.8 | 1,735 |
| Inter-area positions | 106 | (98.2) | 5,871 |
| Other liabilities | 4,730 | 33.7 | 3,539 |
| Allocated regulatory capital | (47,897) | 1.4 | (47,242) |
| Total equity | 61,798 | 3.0 | 60,014 |
| (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 2025 a net attributable loss of €-1,086m, representing a deterioration of 20.5% compared to the €-901m recorded in the previous year. The evolution of this aggregate is largely explained by the negative NTI registered at the end of December 2025, originating from exchange rate hedges, which contrast with the gains obtained in 2024 for the same reason.
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