Corporate Center
Financial statements (Millions of euros and percentage)
| Income statement | 1H23 | ∆% | 1H22 |
|---|---|---|---|
| Net interest income | (140) | 120.2 | (64) |
| Net fees and commissions | (30) | 48.9 | (20) |
| Net trading income | (595) | n.s. | (121) |
| Other operating income and expenses | 50 | (15.2) | 58 |
| Gross income | (716) | n.s. | (147) |
| Operating expenses | (414) | 5.5 | (392) |
| Personnel expenses | (308) | 13.3 | (272) |
| Other administrative expenses | (5) | (78.2) | (22) |
| Depreciation | (101) | 2.7 | (98) |
| Operating income | (1,129) | 109.7 | (539) |
| Impairment on financial assets not measured at fair value through profit or loss | 0 | (90.2) | 1 |
| Provisions or reversal of provisions and other results | 6 | 14.1 | 5 |
| Profit (loss) before tax | (1,123) | 111.0 | (532) |
| Income tax | 39 | (86.7) | 294 |
| Profit (loss) for the period | (1,084) | n.s. | (238) |
| Non-controlling interests | 13 | 58.5 | 8 |
| Net attributable profit (loss) | (1,072) | n.s. | (230) |
| Balance sheets | 30-06-23 | ∆% | 31-12-22 |
|---|---|---|---|
| Cash, cash balances at central banks and other demand deposits | 634 | (25.9) | 856 |
| Financial assets designated at fair value | 2,457 | 2.8 | 2,390 |
| Of which: Loans and advances | 50 | n.s. | - |
| Financial assets at amortized cost | 3,515 | 7.8 | 3,262 |
| Of which: Loans and advances to customers | 250 | (9.9) | 278 |
| Inter-area positions | - | - | - |
| Tangible assets | 1,746 | (6.3) | 1,863 |
| Other assets | 14,558 | 1.5 | 14,349 |
| Total assets/liabilities and equity | 22,910 | 0.8 | 22,719 |
| Financial liabilities held for trading and designated at fair value through profit or loss | 404 | 273.4 | 108 |
| Deposits from central banks and credit institutions | 694 | 1.8 | 682 |
| Deposits from customers | 185 | (1.1) | 187 |
| Debt certificates | (747) | (13,4) | (863) |
| Inter-area positions | 8,218 | 3.2 | 7,963 |
| Other liabilities | 3,665 | (8.6) | 4,011 |
| Regulatory capital allocated | (42,077) | 5.5 | (39,887) |
| Total equity | 52,568 | 4.1 | 50,517 |
Results
The Corporate Center recorded in the first half of the year 2023 a net attributable profit of €-1,072m , compared with €-230m recorded in the same period of the previous year, mainly due to a negative contribution in the NTI line from exchange rate hedges as a result of better than expected currency performance, in particular the Mexican peso.
In the quarterly evolution of this aggregate, it is worth highlighting the recording of Telefónica's dividend.