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Financial highlights



  Euro million
  30 Sep. 18 30 Sep. 17 Change 18/17
       

Balance sheet

     
   Total assets 73,745 72,990 1.0%
   Loans to customers (gross) 51,150 50,754 0.8%
   Total customer funds (2) 72,786 68,984 5.5%
   Balance sheet total customer funds 54,922 52,265  5.1%
   Deposits and other resources from customers 53,624 50,690 5.8% 
   Loans to customers (net) / Deposits and other resources from customers (3) 89% 93%  
   Loans to customers (net) / Balance sheet customer funds 87% 91%  
       

Results

     
   Net income 257.5 133.3 93.1%
   Net interest income 1,052.8 1,023.2 2.9%
   Net operating revenues 1,634.6 1,594.3 2.5%
   Operating costs 754.2 694.6 8.6%
   Operating costs excluding specific items (4)  742.2 718.3 3.3%
   Loan impairment charges (net of recoveries) 337.1 458.6 -26.5%
   Other impairment and provisions 94.2 169.9 -44.5%
   Income taxes      
      Current 77.6 82.8  
      Deferred 32.0 (19.7)  
       

Profitability

     
   Net operating revenues / Average net assets (3) 3.0% 2.9%  
   Return on average assets (ROA) 0.6% 0.4%  
   Income before tax and non-controlling interests / Average net assets (3) 0.8% 0.5%  
   Return on average equity (ROE) 6.0% 3.2%  
   Income before tax and non-controlling interests / Average equity (3) 8.8% 5.6%  
       

Credit quality

     
   Total impairment (balance sheet) / Loans to customers 6.3% 6.7%  
   Cost of risk (net of recoveries, in b.p.) 88 120  
   Non-Performing Exposures / Loans to customers 12.3% 15.9%  
   Restructured loans / Loans to customers 7.7% 8.9%  
       

Efficiency Ratios (3) (4)

     
   Operating costs / Net operating revenues 45.4% 45.1%  
   Operating costs / Net operating revenues (Portugal activity) 46.3% 45.7%  
   Staff costs / Net operating revenues 25.9% 25.3%  
       

Capital (5)

     
   Common equity tier I phased-in ratio 11.8% 13.2%  
   Common equity tier I fully implemented ratio 11.8% 11.7%  
       

Branches

     
   Portugal activity 568 589 -3.6%
   Foreign activity 548 542 1.1%
       

Employees

     
   Portugal activity 7,130 7,281 -2.1%
   Foreign activity 8,656 8,538 1.4%


(1) Some indicators are presented according to management criteria of the Group, which descriptions and 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.
(2) As at 30 June 2018, the concepts underlying the determination of off-balance sheet customer funds were adjusted to reflect the new legal and regulatory framework imposed by the Financial Instruments Markets Directive II (MiFID II), as well as changes implemented regarding the perimeter considered and the criteria adopted, namely with regard to the inclusion of amounts held by customers in the context of the placement of third-party products that contribute to the recognition of commissions ("assets placed with customers"). The information with reference to 30 September 2017 is presented according to the new criteria. (3) According to Instruction from the Bank of Portugal no. 16/2004, as the currently existing version.
(4) Excludes specific items: negative impact of Euro 12.0 million in the first nine months of 2018, related to restructuring costs in the activity in Portugal and positive impact of Euro 23.7 million in the first nine months of 2017 related to restructuring costs and the revision of Collective Lab. Agt. also in the activity in Portugal, both in staff costs.
(5) September 2018 and September 2017 include the accumulated net income of each period. September 2018 figures are estimated.