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January-June 2013

South America

South America highlights in the second quarter

  • Positive performance of activity, both in lending and customer funds.
  • Maintenance of spreads.
  • Favorable performance of revenue.
  • Stability of sound risk indicators.
Income statement

(Million euros)

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South America

1H13 Δ % Δ % (1) 1H12
Net interest income 2,147 8.8 24.0 1,973
Net fees and commissions 454 6.6 19.4 426
Net trading income 326 47.1 65.9 222
Other income/expenses (316) n.m. n.m. (80)
Gross income 2,611 2.8 15.4 2,540
Operating costs (1,147) 8.4 20.9 (1,058)
Personnel expenses (581) 7.7 19.0 (539)
General and administrative expenses (486) 10.1 23.2 (441)
Depreciation and amortization (80) 3.0 20.2 (78)
Operating income 1,464 (1.2) 11.4 1,482
Impairment on financial assets (net) (320) 36.4 51.2 (234)
Provisions (net) and other gains (losses) (48) (36.3) (10.8) (75)
Income before tax 1,097 (6.5) 4.5 1,173
Income tax (283) 9.3 20.0 (259)
Net income 814 (10.9) 0.0 914
Non-controlling interests (253) (11.2) 2.7 (285)
Net attributable profit 561 (10.8) (1.1) 629
(1) At constant exchange rates.
Balance sheet

(Million euros)

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South America

30-06-13 Δ % Δ % (1) 30-06-12
Cash and balances with central banks 10,444 23.6 49.7 8,453
Financial assets 11,284 4.1 21.5 10,840
Loans and receivables 50,433 4.2 19.5 48,399
Loans and advances to customers 45,055 2.8 17.3 43,819
Loans and advances to credit institutions and other 5,378 17.4 41.2 4,581
Tangible assets 808 (1.5) 18.5 820
Other assets 2,002 (16.3) (8.7) 2,393
Total assets/Liabilities and equity 74,972 5.7 22.2 70,906
Deposits from central banks and credit institutions 5,105 (22.0) (16.9) 6,546
Deposits from customers 51,520 7.9 27.6 47,752
Debt certificates 3,863 37.0 44.8 2,819
Subordinated liabilities 1,301 (27.5) (25.0) 1,794
Financial liabilities held for trading 1,195 23.6 28.6 967
Other liabilities 8,838 8.3 25.7 8,157
Economic capital allocated 3,151 9.7 27.3 2,871
(1) At constant exchange rates.
Relevant business indicators

(Million euros and percentage)

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South America

30-06-13 31-12-12 30-06-12
Performing loans (1) 45,929 42,627 39,166
Customer deposits under management (1-2) 55,560 49,160 43,112
Mutual funds 3,032 3,355 3,195
Pension funds 3,316 3,081 2,656
Efficiency ratio (%) 43.9 42.8 41.7
NPA ratio (%) 2.2 2.1 2.3
NPA coverage ratio (%) 136 146 139
Risk premium (%) 1.30 1.34 1.12
(1) Figures at constant exchange rates. (2) Excluding repos and including specific markeatable debt securites.

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