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Financial highlights



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

Balance sheet

     
   Total assets 73,100 73,024 0.1%
   Loans to customers (gross) 50,468 51,684 -2.4%
   Total customer funds (2) 72,458 68,390 5.9%
   Balance sheet total customer funds 54,674 52,228 4.7%
   Deposits and other resources from customers 53,455 50,636 5.6%
   Loans to customers (net) / Deposits and other resources from customers (3) 88% 95%  
   Loans to customers (net) / Balance sheet customer funds 86% 92%  
       

Results

     
   Net income 150.6 89.9  67.5%
   Net interest income 687.7 678.5 1.3%
   Net operating revenues 1,056.8 1,048.8 0.8%
   Operating costs 500.8 450.2 11.2%
   Operating costs excluding specific items (4) 492.8 473.9 4.0%
   Loan impairment charges (net of recoveries) 220.8 305.0 -27.6%
   Other impairment and provisions 59.0 110.3 -46.5%
   Income taxes      
      Current 49.9 54.5  
      Deferred 22.0 (11.1)  
       

Profitability

     
   Net operating revenues / Average net assets (3) 2.9% 2.9%  
   Return on average assets (ROA)(5) 0.6% 0.4%  
   Income before tax and non-controlling interests / Average net assets (3) 0.8% 0.5%  
   Return on average equity (ROE) 5.3% 3.3%  
   Income before tax and non-controlling interests / Average equity (3) 8.3% 5.8%  
       

Credit quality

     
   Total impairment (balance sheet) / Loans to customers 6.6% 7.0%  
   Cost of risk (net of recoveries, in b.p.) 88 118  
   Non-Performing Exposures / Loans to customers 13.2% 17.0%  
   Restructured loans / Loans to customers 8.0% 9.6%  
       

Efficiency Ratios (3) (4)

     
   Operating costs / Net operating revenues 46.6% 45.2%  
   Operating costs / Net operating revenues (Portugal activity) 48.1% 45.9%  
   Staff costs / Net operating revenues 26.7% 25.3%  
       

Capital (6)

     
   Common equity tier I phased-in 11.7% 13.0%  
   Common equity tier I fully-implemented 11.7% 11.3%  
       

Branches

     
   Portugal activity 573 7,333 -3.9%
   Foreign activity 550 8,474 1.9%
       

Employees

     
   Portugal activity 7,151 7,303 -2.1%
   Foreign activity 8,562 8,506 0.7%


(1) Some of the presented indicators reflect the management criteria of the Group, being defined in the glossary and in the chapter of financial information, where applicable.
(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 (DMIF 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 the end of the first half of 2017 is presented according to the new criteria, on a comparable basis.
(3) According to Instruction from the Bank of Portugal no. 16/2004, as the currently existing version.
(4) Excludes specific items: related to restructuring costs and the revision of Collective Labour Agreements in the activity in Portugal (negative impact of Euro 8.0 million in the first half of 2018 and positive impact of Euro 23.7 million in the first half of 2017, both in staff costs).
(5) Considering net income before non-controlling interests.
(6) June 2018 and June 2017 include the accumulated net income of each period.