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Financial highlights(1)



  Euro million
  30 Sep. 21 30 Sep. 20 Change 21/20
       

Balance sheet

      
   Total assets 91,463 85,980 6.4%
   Equity 7,358 7,479 -1.6%
   Loans to customers (net) 56,414 53,833 4.8%
   Total customer funds 90,556 83,284 8.7%
   Balance sheet total customer funds 69,863 64,494 8.3%
   Deposits and other resources from customers 68,321 62,997 8.5%
   Loans to customers (net) / Deposits and other resources from customers (2) 82.6% 85.5%  
   Loans to customers (net) / Balance sheet customer funds 80.7% 83.5%  
       

Results

      
   Net interest income 1,168.6 1,153.7 1.3%
   Net operating revenues 1,706.4 1,662.7 2.6%
   Operating costs 851.7 812.7 4.8%
   Operating costs excluding specific items(3) 764.1 785.2 -2.7%
   Loan impairment charges (net of recoveries) 264.0 374.2 -29.4%
   Other impairment and provisions 462.0 176.4 161.9%
   Income taxes 143.1 121.6 17.7%
   Net income 59.5 146.3 -59.3%
       

Profitability and Efficiency

     
   Net operating revenues / Average net assets (2) 2.5% 2.6%  
   Return on average assets (ROA) 0.0% 0.3%  
   Income before tax and non-controlling interests / Average net assets (2) 0.2% 0.5%  
   Return on average equity (ROE) 1.4% 3.4%  
   Income before tax and non-controlling interests / Average equity (2) 2.5% 5.8%  
   Net interest margin 1.91% 2.03%  
   Cost to core income (2)(3) 44.9% 47.5%  
   Cost to income (2) 49.9% 48.9%  
   Cost to income (2)(3) 44.8% 47.2%  
   Cost to income (Portugal activity) (2)(3) 43.8% 47.6%  
   Staff costs / Net operating revenues (2)(3) 25.2% 26.9%  
       

Credit quality

      
   Cost of risk (net of recoveries, in b.p.) 60 90  
   Non-Performing Exposures / Loans to customers 4.9% 6.5%  
   Total impairment (balance sheet) / NPE 67.9% 62.2%  
   Restructured loans / Loans to customers 4.4% 5.2%  
       

Liquidity

      
   Liquidity Coverage Ratio (LCR) 264% 243%  
   Net Stable Funding Ratio (NSFR) 147% 140%  
       

Capital (4)

      
   Common equity tier I phased-in ratio 11.9% 12.4%  
   Common equity tier I fully implemented ratio 11.8% 12.4%  
   Total fully implemented ratio 15.2% 15.7%  
       

Branches

      
   Portugal activity 447 489 -8.6%
   Foreign activity 865 927 -6.7%
       

Employees

      
   Portugal activity 6,511 7,152 -9.0%
   Foreign activity(5) 9,884 10,708 -7.7%


(1) Some indicators are presented according to management criteria of the Group, which concepts are described and detailed at the glossary. Following the agreement concluded on 29 June 2021 with Union Bancaire Privée, UBP SA regarding the sale of the entire share capital of Banque Privée BCP (Suisse) SA (“Banque Privée”), the contribution of this subsidiary to the consolidated results of the Group is reflected as income from discontinued operations in the international activity and the historical information has been restated in order to ensure its comparability, as defined in the IFRS5. The accounting of assets and liabilities of Banque Privée BCP (Suisse) S.A. was not changed compared to the criteria considered in the financial statements published in previous periods. In this context, and taking into account the immateriality of the balance sheet balances of the Swiss subsidiary in the Group, the calculation of the indicators relating the performance of the profit and loss account to the balance sheet items was not adjusted, with the exception of net interest margin, that reflects the fact that the assets of that subsidiary were no longer considered interest earning assets in the current period or in historical information.
(2) According to Instruction from the Bank of Portugal no. 16/2004, as the currently existing version.              
(3) Excludes specific items: negative impact of 87.6 million euros in the first nine months of 2021, mainly related to headcount adjustment costs, recognized as staff costs in the activity in Portugal, including a provision to cover the costs related to the current adjustment of headcount in the amount of 81.4 million euros. In the first nine months of 2020, the impact was also negative, in the amount of 27.6 million euros, of which 15.8 million euros related to headcount adjustment costs and compensation for temporary remuneration of employees cuts, both recognized as staff costs in the activity in Portugal and 11.8 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized by the Polish subsidiary (7.1 million euros as staff costs, 4.4 million euros as other administrative costs and an 0.4 million euros as depreciation). In the efficiency indicators, the specific items included in the net operating revenues in the first half of 2020, in the amount of 0.1 million euros, 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 at 30 September 2021 and 30 September 2020, capital ratios include the positive cumulative net income of each period. Ratios as of 30 September 2021 are estimated and non-audited.
(5) Of which, in Poland: 7,172 employees as at 30 September 2021 (corresponding to 7,035 FTE - Full-time equivalent) and 7,997 employees as at 30 September 2020 (corresponding to 7,846 FTE - Full-time equivalent).

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