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Financial highlights(1)



  Euro million
  30 Sep. 20 30 Sep. 19 Change 20/19
       

Balance sheet

     
   Total assets 86,017 81,359 5.7%
   Loans to customers (net) 53,870 52,123 3.4%
   Total customer funds 83,284 80,166 3.9%
   Balance sheet total customer funds 64,494 61,296 5.2%
   Deposits and other resources from customers 62,997 59,559 5.8%
   Loans to customers (net) / Deposits and other resources from customers (2) 85.5% 87.5%  
   Loans to customers (net) / Balance sheet customer funds 83.5% 85.0%  
       

Results

     
   Net interest income 1,149.6 1,153.0 -0.3%
   Net operating revenues 1,687.8 1,740.6 -3.0%
   Operating costs 832.4 844.9 -1.5%
   Operating costs excluding specific items(3) 805.0 805.6 -0.1%
   Loan impairment charges (net of recoveries) 374.2 299.0 25.2%
   Other impairment and provisions 176.4 78.1 126.0%
   Income taxes 122.4 174.0 -29.7%
   Net income 146.3 270.3 -45.9%
       

Profitability and Efficiency

     
   Net operating revenues / Average net assets (2) 2.7% 3.0%  
   Return on average assets (ROA) 0.3% 0.6%  
   Income before tax and non-controlling interests / Average net assets (2) 0.5% 0.9%  
   Return on average equity (ROE) 3.4% 6.0%  
   Income before tax and non-controlling interests / Average equity (2) 5.8% 9.9%  
   Net interest margin 2.0% 2.2%  
   Cost to income (2) 49.3% 48.5%  
   Cost to income (2)(3) 47.7% 46.3%  
   Cost to income (Portugal activity) (2)(3) 47.6% 47.0%  
   Staff costs / Net operating revenues (2)(3) 27.4% 26.6%  
       

Credit quality

     
   Cost of risk (net of recoveries, in b.p.) 89 73  
   Non-Performing Exposures / Loans to customers 6.5% 8.4%  
   Total impairment (balance sheet) / NPE 62.2% 55.1%  
   Restructured loans / Loans to customers 5.2% 5.9%  
       

Liquidity

     
   Liquidity Coverage Ratio (LCR) 243% 223%  
   Net Stable Funding Ratio (NSFR) 140% 138%  
       

Capital (4)

     
   Common equity tier I phased-in ratio 12.4% 12.3%  
   Common equity tier I fully implemented ratio 12.4% 12.3%  
   Total fully implemented ratio 15.7% 15.7%  
       

Branches

     
   Portugal activity 489 526 -7.0%
   Foreign activity 927 1,029 -9.9%
       

Employees

     
   Portugal activity 7,152 7,259 -1.5%
   Foreign activity(5) 10,708 11,464 -6.6%


(1) Some indicators are presented according to management criteria of the Group, which concepts are described and detailed at the glossary and at "Alternative Performance Measures" chapter, being reconciled with the accounting values published in the consolidated financial statements. From 31 May 2019, financial statements of the Group reflect the consolidation of Euro Bank S.A., the entity acquired by Bank Millennium S.A.
(2) According to Instruction from the Bank of Portugal no. 16/2004, as the currently existing version.
(3) Excludes specific items: negative impact of 27.5 million euros in the first nine months of 2020, of which 15.8 million euros related to restructuring costs and compensation for temporary salary cuts, both recognized as staff costs in the activity in Portugal and 11.7 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized by the Polish subsidiary (6.9 million euros as staff costs, 4.4 million euros as other administrative costs and 0.4 million euros as depreciation). In the first nine months of 2019, the impact was also negative, in the amount of 39.4 million euros, of which 24.4 million euros related to restructuring costs and compensation for temporary salary cuts, both recognized as staff costs in the activity in Portugal and 14.9 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized as other administrative costs by the Polish subsidiary, that also recorded immaterial amounts in staff costs and depreciations. In the profitability and efficiency indicators, the specific items included in the net operating revenues, of non-material amount, related to costs with the acquisition, merger and integration of Euro Bank S.A., recognized in the Polish subsidiary are also not considered.
(4) As of 30 September 2020 and 30 September 2019, capital ratios include the positive cumulative net income of each period. Ratios as of 30 September 2020 are estimated and non-audited.
(5) Of which, in Poland: 7,997 employees as at 30 September 2020 (corresponding to 7,846 FTE - Full-time equivalent) and 8,710 employees as at 30 September 2019 (corresponding to 8,564 FTE - Full-time equivalent).