Financial highlights(1)
| |
Euro million |
| |
30 Sep. 19 |
30 Sep. 18 |
Change 19/18 |
| |
|
|
|
Balance sheet |
|
|
|
| Total assets |
81,359 |
73,745 |
10.3% |
| Loans to customers (net) |
52,123 |
47,944 |
8.7% |
| Total customer funds |
80,166 |
72,786 |
10.1% |
| Balance sheet total customer funds |
61,296 |
54,922 |
11.6% |
| Deposits and other resources from customers |
59,559 |
53,624 |
11.1% |
| Loans to customers (net) / Deposits and other resources from customers (2) |
87.5% |
89.4% |
|
| Loans to customers (net) / Balance sheet customer funds |
85.0% |
87.3% |
|
| |
|
|
|
Results |
|
|
|
| Net interest income |
1,153.0 |
1,052.8 |
9.5% |
| Net operating revenues |
1,743.0 |
1,636.5 |
6.5% |
| Operating costs |
847.3 |
754.2 |
12.3% |
| Operating costs excluding specific items(3) |
808.0 |
742.2 |
8.9% |
| Loan impairment charges (net of recoveries) |
299.0 |
336.7 |
-11.2% |
| Other impairment and provisions |
78.1 |
92.2 |
-15.4% |
| Income taxes |
174.0 |
109.5 |
58.9% |
| Net income |
270.3 |
257.5 |
5.0% |
| |
|
|
|
Profitability and Efficiency |
|
|
|
| Net operating revenues / Average net assets (2) |
3.0% |
3.0% |
|
| Return on average assets (ROA) |
0.6% |
0.6% |
|
| Income before tax and non-controlling interests / Average net assets (2) |
0.9% |
0.8% |
|
| Return on average equity (ROE) |
6.0% |
6.0% |
|
| Income before tax and non-controlling interests / Average equity (2) |
9.9% |
8.9% |
|
| Net interest margin |
2.2% |
2.2% |
|
| Cost to income (2)(3) |
46.4% |
45.4% |
|
| Cost to income (Portugal activity) (2)(3) |
47.2% |
46.2% |
|
| Staff costs / Net operating revenues (2)(3) |
26.6% |
25.9% |
|
| |
|
|
|
Credit quality |
|
|
|
| Cost of risk (net of recoveries, in b.p.) |
73 |
88 |
|
| Non-Performing Exposures / Loans to customers |
8.4% |
12.3% |
|
| Total impairment (balance sheet) / NPE |
55.1% |
50.8% |
|
| Restructured loans / Loans to customers |
5.9% |
7.7% |
|
| |
|
|
|
Liquidity |
|
|
|
| Liquidity Coverage Ratio (LCR) |
223% |
182% |
|
| Net Stable Funding Ratio (NSFR) |
138% |
128% |
|
| |
|
|
|
Capital (4) |
|
|
|
| Common equity tier I phased-in ratio |
12.3% |
11.8% |
|
| Common equity tier I fully implemented ratio |
12.3% |
11.8% |
|
| |
|
|
|
Branches |
|
|
|
| Portugal activity |
526 |
568 |
-7.4% |
| Foreign activity |
1,029 |
548 |
87.8% |
| |
|
|
|
Employees |
|
|
|
| Portugal activity |
7,259 |
7,130 |
1.8% |
| Foreign activity(5) |
11,464 |
8,786 |
30.5% |
(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 Eurobank 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 39.3 million euros in the first nine months of 2019, of which 24.4 million euros related to restructuring costs and compensation for temporary salary cuts recognized as staff costs in the activity in Portugal and 14.9 million euros related to acquisition, merger and integration of Euro Bank S.A., recognized as other administrative costs in the Polish subsidiary. In the same period of 2018, there was a negative impact of 12.0 million euros, related to restructuring costs, recognized as staff costs in the activity in Portugal.
(4) As of 30 September 2019 and 30 September 2018, ratios include the positive cumulative net income, non-audited, of each period. Ratios as of 30 September 2019 are estimated.
(5) Of which, in Poland: 8,710 employees as at 30 September 2019 (corresponding to 8,564 FTE - Full-time equivalent) and 6,080 employees as at 30 September 2018 (corresponding to 5,950 FTE - Full-time equivalent).