Corporate Center

Financial statements (Millions of euros and percentage)

Income statement Jan.-Sep. 23 ∆% Jan.-Sep. 22
Net interest income (253) 159.8 (97)
Net fees and commissions (40) 59.8 (25)
Net trading income (697) n.s. (80)
Other operating income and expenses 48 (18.1) 59
Gross income (943) n.s. (144)
Operating expenses (614) 3.5 (593)
Personnel expenses (475) 14.4 (415)
Other administrative expenses 16 n.s. (29)
Depreciation (155) 3.9 (149)
Operating income (1,557) 111.1 (737)
Impairment on financial assets not measured at fair value through profit or loss 1 n.s. (1)
Provisions or reversal of provisions and other results (2) (44.1) (3)
Profit (loss) before tax (1,558) 110.1 (741)
Income tax 232 38.2 168
Profit (loss) for the period (1,326) 131.2 (574)
Non-controlling interests 5 (36.3) 7
Net attributable profit (loss) (1,321) 133.4 (566)
Balance sheets 30-09-23 ∆% 31-12-22
Cash, cash balances at central banks and other demand deposits 649 (24.2) 856
Financial assets designated at fair value 2,422 1.3 2,390
Of which: Loans and advances 16 n.s. -
Financial assets at amortized cost 3,446 5.7 3,262
Of which: Loans and advances to customers 129 (53.5) 278
Inter-area positions - - -
Tangible assets 1,775 (4.7) 1,863
Other assets 14,379 0.2 14,349
Total assets/liabilities and equity 22,671 (0.2) 22,719
Financial liabilities held for trading and designated at fair value through profit or loss 382 253.0 108
Deposits from central banks and credit institutions 779 14.3 682
Deposits from customers 191 2.3 187
Debt certificates 108 n.s. (863)
Inter-area positions 3,850 (51.7) 7,963
Other liabilities 5,798 44.5 4,011
Regulatory capital allocated (41,890) 5.0 (39,887)
Total equity 53,453 5.8 50,517

Results

The Corporate Center recorded, between January and September of 2023, a net attributable profit of €-1,321m , compared with €-566m 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 a better than expected currency performance, in particular the Mexican peso.

In the quarterly evolution of this aggregate, it is worth highlighting the favorable performance of NTI, which together with a contained operating expenses, have supported the improvement in the quarterly net attributable profit compared to the previous quarter.