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) |
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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 |
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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) |
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Number of ATMs (1) |
Operating income (Million euros) |