Financial highlights(1)
| |
Euro million |
| |
31 Mar. 20 |
31 Mar. 19 |
Change 20/19 |
| |
|
|
|
Balance sheet |
|
|
|
| Total assets |
81,499 |
77,118 |
5.7% |
| Loans to customers (net) |
52,507 |
48,561 |
8.1% |
| Total customer funds |
79,955 |
75,286 |
6.2% |
| Balance sheet total customer funds |
62,306 |
57,235 |
8.9% |
| Deposits and other resources from customers |
60,815 |
55,758 |
9.1% |
| Loans to customers (net) / Deposits and other resources from customers (2) |
86.3% |
87.1% |
|
| Loans to customers (net) / Balance sheet customer funds |
84.3% |
84.8% |
|
| |
|
|
|
Results |
|
|
|
| Net interest income |
385.5 |
362.7 |
6.3% |
| Net operating revenues |
597.8 |
597.7 |
0.0% |
| Operating costs |
286.4 |
259.5 |
10.3% |
| Operating costs excluding specific items(3) |
276.9 |
253.1 |
9.4% |
| Loan impairment charges (net of recoveries) |
86.1 |
86.5 |
-0.4% |
| Other impairment and provisions |
115.7 |
17.4 |
>200% |
| Income taxes |
65.6 |
65.4 |
0.3% |
| Net income |
35.3 |
153.8 |
-77.1% |
| |
|
|
|
Profitability and Efficiency |
|
|
|
| Net operating revenues / Average net assets (2) |
2.9% |
3.2% |
|
| Return on average assets (ROA) |
0.2% |
1.0% |
|
| Income before tax and non-controlling interests / Average net assets (2) |
0.5% |
1.3% |
|
| Return on average equity (ROE) |
2.4% |
10.6% |
|
| Income before tax and non-controlling interests / Average equity (2) |
6.3% |
14.2% |
|
| Net interest margin |
2.1% |
2.2% |
|
| Cost to income (2) |
47.9% |
43.4% |
|
| Cost to income (2)(3) |
46.3% |
42.3% |
|
| Cost to income (Portugal activity) (2)(3) |
42.8% |
40.2% |
|
| Staff costs / Net operating revenues (2)(3) |
26.2% |
24.5% |
|
| |
|
|
|
Credit quality |
|
|
|
| Cost of risk (net of recoveries, in b.p.) |
63 |
68 |
|
| Non-Performing Exposures / Loans to customers |
7.2% |
10.1% |
|
| Total impairment (balance sheet) / NPE |
55.5% |
54.6% |
|
| Restructured loans / Loans to customers |
5.0% |
6.9% |
|
| |
|
|
|
Liquidity |
|
|
|
| Liquidity Coverage Ratio (LCR) |
218% |
253% |
|
| Net Stable Funding Ratio (NSFR) |
132% |
134% |
|
| |
|
|
|
Capital (4) |
|
|
|
| Common equity tier I phased-in ratio |
11.9% |
12.7% |
|
| Common equity tier I fully implemented ratio |
12.0% |
12.7% |
|
| Total fully implemented ratio |
15.4% |
15.2% |
|
| |
|
|
|
Branches |
|
|
|
| Portugal activity |
501 |
539 |
-7.1% |
| Foreign activity |
1,000 |
562 |
77.9% |
| |
|
|
|
Employees |
|
|
|
| Portugal activity |
7,193 |
7,262 |
-1.0% |
| Foreign activity(5) |
11,303 |
9,023 |
25.3% |
(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 9.5 million euros in the first quarter of 2020, of which 2.6 million euros related to restructuring costs recognized as staff costs in the activity in Portugal and 6.9 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized by the Polish subsidiary, mainly as staff costs (5.5 million euros) and as other administrative costs (1.3 million euros). In the first quarter of 2019, the impact was also negative, in the amount of 6.5 million euros, mainly related to restructuring costs, recognized as staff costs in the activity in Portugal. In the profitability and efficiency indicators of the first quarter of 2020, 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 31 March 2020 and 31 March 2019, ratios include the positive cumulative net income of each period. Ratios as of 31 March 2020 are estimated and non-audited.
(5) Of which, in Poland: 8,556 employees as at 31 March 2020 (corresponding to 8,412 FTE - Full-time equivalent) and 6,319 employees as at 31 March 2019 (corresponding to 6,183 FTE - Full-time equivalent).