January-June 2013

The most relevant

In the United States, business activity has continued along the same lines as in previous quarters: growth in performing loans, with a special focus on the target portfolios (commercial and residential real estate), and increase in customer deposits under management, especially in lower-cost items.

In earnings, despite strong business activity, revenue continues to be strongly affected by the current environment of low rates and narrowing spreads, and new more restrictive regulations on fees and commissions. In the rest of the income statement headings, operating expenses are stable, while provisions remain at very moderate levels. As a result, the net attributable profit for the first half of 2013 stands at €213m.