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Financial highlights(1)



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

Balance sheet

     
   Total assets 86,556 80,873 7.0%
   Loans to customers (net) 53,724 52,035 3.2%
   Total customer funds 83,163 79,224 5.0%
   Balance sheet total customer funds 65,009 60,698 7.1%
   Deposits and other resources from customers 63,464 59,020 7.5%
   Loans to customers (net) / Deposits and other resources from customers (2) 84.7% 88.2%  
   Loans to customers (net) / Balance sheet customer funds 82.6% 85.7%  
       

Results

     
   Net interest income 759.1 740.1 2.6%
   Net operating revenues 1,070.8 1,122.7 -4.6%
   Operating costs 561.8 546.7 2.8%
   Operating costs excluding specific items(3) 540.7 519.7 4.0%
   Loan impairment charges (net of recoveries) 237.3 200.3 18.5%
   Other impairment and provisions 114.0 42.8 166.2%
   Income taxes 58.9 121.1 -51.4%
   Net income 76.0 169.8 -55.3%
       

Profitability and Efficiency

     
   Net operating revenues / Average net assets (2) 2.6% 2.9%  
   Return on average assets (ROA) 0.2% 0.6%  
   Income before tax and non-controlling interests / Average net assets (2) 0.4% 0.9%  
   Return on average equity (ROE) 2.6% 5.7%  
   Income before tax and non-controlling interests / Average equity (2) 4.5% 9.7%  
   Net interest margin 2.0% 2.1%  
   Cost to income (2) 52.5% 48.7%  
   Cost to income (2)(3) 50.5% 46.3%  
   Cost to income (Portugal activity) (2)(3) 51.6% 47.0%  
   Staff costs / Net operating revenues (2)(3) 28.9% 26.9%  
       

Credit quality

     
   Cost of risk (net of recoveries, in b.p.) 85 74  
   Non-Performing Exposures / Loans to customers 7.0% 9.1%  
   Total impairment (balance sheet) / NPE 57.8% 53.6%  
   Restructured loans / Loans to customers 5.5% 6.3%  
       

Liquidity

     
   Liquidity Coverage Ratio (LCR) 249% 214%  
   Net Stable Funding Ratio (NSFR) 137% 135%  
       

Capital (4)

     
   Common equity tier I phased-in ratio 12.1% 12.2%  
   Common equity tier I fully implemented ratio 12.1% 12.2%  
   Total fully implemented ratio 15.5% 14.7%  
       

Branches

     
   Portugal activity 493 532 -7.3%
   Foreign activity 967 1,033 -6.4%
       

Employees

     
   Portugal activity 7,154 7,264 -1.5%
   Foreign activity(5) 11,016 11,406 -3.4%


(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 21.1 million euros in the first half of 2020, of which 13.2 million euros related to restructuring costs and compensation for temporary salary cuts, both recognized as staff costs in the activity in Portugal and 7.9 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized by the Polish subsidiary (5.4 million euros as staff costs, 2.3 million euros as other administrative costs and 0.2 million euros as depreciation). In the first half of 2019, the impact was also negative, in the amount of 27.0 million euros, of which 22.4 million euros related to restructuring costs and compensation for temporary salary cuts, both recognized as staff costs in the activity in Portugal and 4.6 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 an immaterial amount in staff costs. 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 June 2020 and 30 June 2019, ratios include the positive cumulative net income of each period. Ratios as of 30 June 2020 are estimated and non-audited.
(5) Of which, in Poland: 8,283 employees as at 30 June 2020 (corresponding to 8,141 FTE - Full-time equivalent) and 8,700 employees as at 30 June 2019 (corresponding to 8,550 FTE - Full-time equivalent).