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Operating income

Operating expenses amounted to €7,299m year to date, slowing their rate of year-on-year growth to 9.9%. This item continues to be influenced by the Group’s investments in emerging countries, in infrastructure, in its new technological platform and brand image.

Breakdown of operating costs and efficiency calculation
(Million euros)

January-Sep. 11 ∆% January-Sep. 10 2010
Personnel expenses 3.907 9.3 3.575 4.814
Wages and salaries 3.003 8.7 2.763 3.740
Employee welfare expenses 567 10.3 514 689
Training expenses and other 337 13.0 298 386
General and administrative expenses 2.771 10.6 2.506 3.392
Premises 633 12.7 562 750
IT 462 8.9 424 563
Communications 223 6.4 209 284
Advertising and publicity 271 8.2 250 345
Corporate expenses 77 19.1 65 89
Other expenses 829 8.1 767 1.040
Levies and taxes 276 20.8 228 322
Administration costs 6.678 9.8 6.080 8.207
Depreciation and amortization 620 10.4 562 761
Operating costs 7.299 9.9 6.642 8.967
Gross income 15.052 (5.7) 15.964 20.910
Efficiency ratio (Operating costs/Gross income, in %) 48.5 16.5 41.6 42.9
Operating costs
(Million euros)
Efficiency

At the close of September, the Bank employed 110,625 people, a year-on-year increase of 5.1% and a quarter-on-quarter increase of 0.9%. The branch network numbered 7,436 units as of 30-Sep-2011, 9 more than at the close of June and 74 more than the figure for 30-Sep-2010. The increase is the result of the expansion process undertaken in emerging countries (basically Mexico and South America). Finally, there is the ongoing increase in ATM numbers.

As of 30-Sep-2011 there were 18,192 units, 9.5% up year-on-year and 1.9% up quarter-on-quarter.

To sum up, this trend in income and costs has resulted in an operating income year to date (30-Sep-2011) of €7,753m (€9,322m in January-September 2010). Excluding the least recurring income, NTI and dividends, this figure is €6,358m, 13.8% down on that a year ago.

Number of employees (1)

Number of branches (1)
Number of ATMs (1)

Operating income
(Million euros)

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