Quarterly report

Mar-13

Highlights
(Amounts in thousands of )

31.03.13

31.03.12

Variation %

Highlights
Total assets managed . . . . . . . . . . . . . . . . . . . . .
On-balance sheet total assets . . . . . . . . . . . . . . . . . . . . . .
Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjusted customer deposits . . . . . . . . . . . . . . . . . .
Lending to customers (gross) . . . . . . . . . . . . . . . . . . . .

175,029,145
159,936,521
10,792,775
82,729,627
116,090,476

172,902,676
158,207,172
10,514,501
84,405,135
117,954,679

10.05
10.24
11.01
14.47

7.13
9.84
10.23
14.15

155,141,866
15,428,446
9,088,437
9.94
68.41
58.91
112.09

150,982,311
9,594,016
4,749,617
6.35
67.46
49.51
107.48

1.2
1.1
2.6
(2.0)
(1.6)

Solvencia
Core capital EBA (%)
Tier 1 (%)
Ratio BIS (%)
Leverage (%)

Risk Management
Total risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Non-performing loans . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Allowance for credit losses . . . . . . . . . . . . . . . . . . . . .
Non performing loans ratio(%) . . . . . . . . . . . . . . . . . . . . . . . . .
% Coverage for non-performing and writen-offs balances. . . . .
% Coverage for non-performing balances excl. writen-offs balances
% Coverage with guarantees

2.8
60.8
91.4

Earnings
Net interest income . . . . . . . . . . . . . . . . . . . . . . .
Gross income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Profit before provisions. . . . . . . . . . . . . . . . . . . . . . . . .
Profit before tax . . . . . . . . . . . . . . . . . . . .
Consolidated profit for the year . . . . . . . . . . . . . . . . .
Profit attributed to the Group. . . . . . . . . . . . . . . . . . . . .

592,569
827,434
404,937
151,050
104,665
104,222

692,864
935,119
538,570
139,981
100,586
100,179

155,769,624
10,719,073
0.27
3.89
46.65

141,962,812
10,004,574
0.28
4.01
39.08

(14.5)
(11.5)
(24.8)
7.9
4.1
4.0

Net Return and Efficiency

Average total assets . . . . . . . . . . . . . . . . . . . . . . . . .
Average total equity . . . . . . . . . . . . . . . . . . . . . . . . .
ROA (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ROE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Operating Efficiency (%) . . . . . . . . . . . . . . . . . . . . . . . .

9.7
7.1

Per share data

Final number of shares fully diluted (thousands) . . . . . . . . . . . . . . . . . .
Average number of shares fully diluted (thousands) . . . . . . . . . . . . . . . .
Share closing market price (euros) . . . . . . . . . . . . . . . . . . . . . . .
Market capitalization . . . . . . . . . . . . . . . . . . . . . . . . . .
Share book value (euros) . . . . . . . . . . . . . . . .
Net earnings per share (euros) . . . . . . . . . . . . . . . . . . . . .
Dividend per share paid in the period (euros) .
Price/ Book value . . . . . . . . . . . . . . . . . . . . . . . . . .
Price/ Earnings (annualized) . . . . . . . . . . . . . . . . . . . .

10,171,610
10,032,238
0.58
5,879,190
1.17
0.012
0.49
12.04

2
2

1,796,728
1,368,527
2.69
4,833,198
5.85
0.073
0.040
0.46
9.21

>
>
(78.5)
21.6
(80.0)
(83.6)
(100.0)

224,014
18,059
16,236
10,456
5,780
1,823
1,123
700
2,765
2,529
236
2,814

39.6
(9.3)
(10.5)
(11.2)
(9.2)
1.3
3.3
(12.9)
(12.7)
(15.7)
7.7

Other data
Shareholders . . . . . . . . . . . . . . . . . . . . . . . . .
Employees
Spain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Men. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Women. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Abroad . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Men. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Women. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Branches
Spain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Abroad . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ATMs . . . . . . . . . . . . . . . . . .

313,029
16,377
14,531
9,281
5,250
1,846
1,123
723
2,407
2,208
199
3,031

1. Risk coverage ratio including the value guarantees after aplication of the discounts defined in Appendix IX of Bank of Spain Circular 4/2004.
2. Including 186,919 thousand of debentures necessarily convertible in November 2015; 1.084.549 thousands of debentures convertible in April 2018; 404,844
thousands of debentures in March 2014 and 86.505 thousands o debentures in December 2014.
3. Including the necessarily convertible debentures.
The Groups consolidated financial statements at 31 March 2012, the audit of which is being finalised, were prepared in accordance with the accounting principles
and methods established by the international Financial Reporting Standards adopted by the European Union (IFRS-EU). The regulatory changes introduced in
2011 did not affect the comparability of the financial information for preceding published in this Report.

Quarterly report

Mar-13

Balance Sheet
(Amounts in thousands of )

31.03.13

31.12.12

31.03.12

Variation %
3 months
12 months

Assets
Cash and balances with central banks . . . . . . . . . . . . . . . . . . . .
1,540,063
Financial
assetsassets
held for
trading
. . through
. . . . . . .profit
. . . . or
. . loss
. . . . .. .. .. . . . . . . . . . . . . . .1,998,396
.
Other
financial
at fair
value
.
487,837
Investment Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25,988,846
Loans and receivables . . . . . . . . . . . . . . . . . . . . . .
113,252,579
Loans and advances to other debtors . . . . . . . . .
107,649,039
Other loans and receivables . . . . . . . . . . . . . . . .
4,620,791
Of which interbank deposits . . . . . . . . . . . . . .
244,506
Fixed Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
982,749
Adjustments to financial assets on macro-hedging. . . . .
199,078
Hedging derivatives . . . . . . . . . . . . . . . . . . . . . . . .
717,782
Non-current assets held for sale . . . . . . . . . . . . . .
5,236,070
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
777,336
Insurance contracts linked to pensions . . . . . . . . .
144,238
Reinsurance assets . . . . . . . . . . . . . . . . . . . . . . . . .
6,755
Tangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,918,336
Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . .
2,674,590
Tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,474,883
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1,519,732

2,117,182
2,096,851
493,623
21,857,472
114,444,133
108,809,293
4,658,658
430,048
976,182
222,647
678,357
4,896,644
811,356
144,530
4,878
1,892,725
2,655,084
3,703,759
1,598,877

1,918,616
1,607,436
652,868
20,728,965
118,976,220
113,779,784
3,928,042
948,701
1,268,394
40,962
1,022,868
4,542,713
652,360
161,529
3,111
1,923,103
2,018,130
2,300,358
1,657,933

(27.3)
(4.7)
(1.2)
18.9
(1.0)
(1.1)
(0.8)
(43.1)
0.7
(10.6)
5.8
6.9
(4.2)
(0.2)
38.5
1.4
0.7
(6.2)
(5.0)

(19.7)
24.3
(25.3)
25.4
(4.8)
(5.4)
17.6
(74.2)
(22.5)
>
(29.8)
15.3
19.2
(10.7)
>
(0.2)
32.5
51.1
(8.3)

157,618,118

158,207,172

1.5

1.1

Financial liabilities held for trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,504,922

. . . . . . . . . . . . . . .1,491,141
. . . . .

1,007,207

0.9

49.4

Other financial liabilities at fair value through profit or loss . . . . . . .

3,238
93,060
Finacial liabilities at amortised cost: . . . . . . . . . . . . . . . . . . . . .144,133,521
. . . . . . . . .
141,726,166
Liabilities of credit institutions . . . . . . . . . . . . . . . . . . . . . . . . . . 29,638,489
. . . . . . . . . . . . .
34,966,637
Interbank deposits.2,675,568
4,093,661
Deposits from other creditors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,901,089
. . . . . . . . . . . . . . .79,830,212
. . .
Debt certificates including bonds . . . . . . . . . . . . . . . . . . . . . .20,222,141
. . . . . . . .
23,442,605
Subordinated liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2,202,987
. . . . . . . . . . . . . . 2,170,454
.
Other financial liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,168,815
. . . . . . . . . . . . . 1,316,258
Hedging derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,885,788
. . . . . . . . . . . .
2,048,864
Insurance contract liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .926,017
. . . . . . . . . .
814,599
Provisions for contingent exposures . . . . . . . . . . . . . . . . . . . . . . . . . . . . .490,864
. . . . . . . . . . . . . . 508,047
. . . . .
Tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,133
. . . . . . . . . . . .
461,230
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .366,063
. . . . . . . . . . . . . 519,590

206,799
143,772,315
28,072,850
2,838,689
84,612,354
26,886,963
2,993,131
1,207,017
1,592,511
678,516
543,913
360,529
365,274

(96.5)
1.7
(15.2)
(34.6)
13.9
(13.7)
1.5
(11.2)
(8.0)
13.7
(3.4)
(4.6)
(29.5)

(98.4)
0.3
5.6
(5.7)
7.4
(24.8)
(26.4)
(3.2)
18.4
36.5
(9.8)
22.1
0.2

Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

148,527,064

1.4

0.8

Total Assets. . . . . . . . . . . . . . . . . . . . . . . .

159,936,521

Liabilities

149,750,546

147,662,697

Equity
Total Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,792,775
. . . . . . . . . . . . .
Capital, reserves and retained earnings . . . . . . . . . . . . . . . . . . . . . .10,688,553
. . . . . . . . . . . . .
Profit or loss for the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104,222
. . . . . . . . . . . .
Dividends paid and declared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -. . . . . . . .
Valuation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (652,690)
. . . . . . . . . . . .
Minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,890
. . . . . . . . . .

10,797,878
. .13,258,901
. . . . .
. .(2,461,023)
. .
.
. (886,614)
44,157

10,514,501
10,414,322
100,179
(876,563)
42,170

(19.4)

2.6
2.6
4.0

(26.4)
3.9

(25.5)
8.8

2.3

5.2

Net Asset Value . . . . . . . . . . . . . . . . . . . . . .

10,185,975

9,955,421

9,680,108

Total liabilities and equity . . . . . . . . . . . . .

159,936,521

157,618,118

158,207,172

1.5

1.1

Quarterly report

Mar-13

Commercial Gap
(Amounts in thousands of )

31.03.13

Lending to customers
Other lending
Repos
Total lending to customers net (ex repos) (a)
Current accounts
Term deposits
Others and valuation adjustments
Subtotal customer deposits (ex repos)
Retail Commercial paper
ICO Funding
Securitizations sold to third parties
Marketable securities distributed through the branch network
Tax collection accounts
Total customer deposits (b)
GAP (a-b)
LTD (a/b)

107,649
(243)
(6,503)
100,903
22,337
47,263
446
70,046
3,176
5,479
539
1,304
414
80,958
19,945
125%

Quarterly report
Mar-13

Lending to customers
Variation %

(Amounts in thousands of )

31.03.13

31.12.12

31.03.12

3 months

12 months

General government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8,988,566

7,410,601

5,876,659

21.3

53.0

Other private sectors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

68,466,095

67,249,082

70,535,645

1.8

(2.9)

Residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,108,932
Non residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,357,163

58,802,462
8,446,620

62,174,461
8,361,184

2.2
(1.1)

(3.3)
-

233,576

303,718

(50.7)

(62.1)

77,569,701

74,893,259

76,716,022

3.6

1.1

Deposits at central counterparty entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,331,388

......

4,936,953

7,896,332

170.0

68.8

Total customer deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .90,901,089

.....

79,830,212

84,612,354

13.9

7.4

Unadjusted debt certificates including bonds: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,654,632

......

22,846,880

26,197,863

(14.0)

(25.0)

Bonds and other securities outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16,021,560

...
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3,633,072

15,740,074
7,106,806

19,237,688
6,960,175

1.8
(48.9)

(16.7)
(47.8)

567,509

595,725

689,100

(4.7)

(17.6)

20,222,141

23,442,605

26,886,963

(13.7)

(24.8)

2,202,987

2,170,454

2,993,131

1.5

(26.4)

Total on-balance sheet funds (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113,326,217

105,443,271

7.5

(1.0)

Customer deposit:

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,040

...........
Subtotal customer deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total debt certificates including bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subordinated liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

114,492,448.00

Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,546,397

.
Asset portfolio management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 743,992
. . . . . .
Pensions funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4,977,744
.
Insurance premiums . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,824,491
. . . .

7,271,865
720,438
4,914,876
1,733,741

7,437,074
835,474
4,792,079
1,630,877

3.8
3.3
1.3
5.2

1.5
(10.9)
3.9
11.9

Total other intermediated funds (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,092,624

. . . .

14,640,920

14,695,504

3.1

2.7

Total funds managed (a+b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128,418,841

. . . . . . . . . . . .120,084,191
. .

129,187,952

6.9

(0.6)

Retail funds
(Amounts in euros thousands)

Variation %
31.03.13

31.12.12

Demand deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22,336,775
21,886,235
Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
47,262,614
45,804,485
Asset repos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7,538,543
6,405,186
Other accounts and valuation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .431,769
...........
797,353
Subtotal customer deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .77,569,701
.
74,893,259
Marketable securities distributed through the branch network (*). . . . . . . . . . . . . . . . . . . . . . 5,159,926
. . . . . . . . . . . . . . . . . . 8,545,883
....
Total retail funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
82,729,627
83,439,142
(*) Included are: convertible notes, preferred shares, promissory notes and retail subordinated debt.

31.03.12
22,621,277
48,392,776
4,815,084
886,885
76,716,022
7,689,113
84,405,135

3 months

12 months

2.1
3.2
17.7
(45.8)
3.6
(39.6)
(0.9)

(1.3)
(2.3)
56.6
(51.3)
1.1
(32.9)
(2.0)

Quarterly report
Mar-13

Lending to customers
Variation %

(Amounts in thousands of )

31.03.13

Lending to general government . . . . . . . . . . . . . . . . . . . . . . . . . .

31.12.12

31.03.12

3 months

12 months

3,724,421

3,839,449

1,798,319

(3.0)

>

Lending to other private sectors . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112,123,070

.........

113,226,801

115,901,202

(1.0)

(3.3)

103,025,775
10,201,026

105,432,717
10,468,485

(1.0)
(0.4)

(3.3)
(3.0)

117,699,521

(1.0)

(1.6)

4.4

(4.8)

Total lending to customers and others. . . . . . . . . . . . . . . . . . . . . 116,090,476

. . . . . . . . . . . . . . . . 117,298,902
. . . . . . . . . . . . . . 117,954,679
. . . .

(1.0)

(1.6)

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,441,437)

. . . . . . . . . . . . . . .(8,489,609)
. . .

(0.6)

>

(1.1)

(5.4)

Residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Non residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

101,963,960
10,159,110

Total lending to customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . .115,847,491

. . . . . . . . . . . . . . 117,066,250
. . . . . . . . . . . .
Other loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

242,985

232,652

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107,649,039
. . . . . . . . . . . . . .108,809,293
. . . .

255,158

(4,174,895)
113,779,784

Lending to customers by type

(Amounts in euros thousands)

Trade loans and discounts . . . . . . . . . . .

Secured loans . . . . . . . . . . . . . . . . . . . .
Mortgage . . . . . . . . . . . . . . . . . . . . . .
Other . . . . . . . . . . . . . . . . . . . . . . . . .
Repos . . . . . . . . . . . . . . . . . . . . . . . . . .
Term loans and other lending. . . . . . . . .
Leasing . . . . . . . . . . . . . . . . . . . . . . . . .
Doubtful assets . . . . . . . . . . . . . . . . . . .
Total lending to customers . . . . . . . . . . . . . . . . . . . .

Variation %
31.03.13

31.12.12

31.03.12

3 months

12 months

3,660,331
50,711,298
49,259,275
1,452,023
6,501,730
37,430,284
2,632,653
15,154,180

3,740,553
54,023,003
52,299,261
1,723,742
6,792,524
36,301,223
2,732,177
13,709,422

4,567,187
59,388,295
56,750,196
2,638,099
6,591,643
34,930,061
3,137,031
9,340,462

(2.1)
(6.1)
(5.8)
(15.8)
(4.3)
3.1
(3.6)
10.5

(19.9)
(14.6)
(13.2)
(45.0)
(1.4)
7.2
(16.1)
62.2

116,090,476

117,298,902

117,954,679

(1.0)

(1.6)

Quarterly report

Mar-13

Risk Management Performance

(Amounts in thousands of )

31.03.13

31.03.12

Variation
Amount

Non performing loans

Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13,976,733
....
Additions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2,613,979
Recoveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
846,841
Other changes * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net variation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,767,138
% increase. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.6
Write-offs
(315,425)
Balance at the end of the period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15,428,446
...........

7,323,272
1,231,623
608,207
1,977,279
2,600,695
35.5
(329,951)
9,594,016

6,653,461
1,382,356
238,634
(1,977,279)
(833,557)

90.8
>
39.2
(100.0)
(32.1)

14,526
5,834,430

(4.4)
60.8

* Mainly Banco Pastor

31.03.13

31.03.12

Variation
Amount

Allowance for credit losses

Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9,146,044
...
Annual provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,478,753
....
Recoveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,180,494)
.....
Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 298,259
..........
Other variations * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(41,147)
Writte-offs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(314,719)
Balance at the end of the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,088,437
.............
Of which sub-standard risk provisions
1,066,645

2,530,076

6,615,968

578,333
(232,194)
346,139
2,202,841
(329,439)
4,749,617
872,290

900,420
(948,300)
(47,880)
(2,243,988)
14,720
4,338,820
194,355

>
>
>
(13.8)
(4.5)
91.4
22.3

* Mainly Banco Pastor

Specific
Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9,143,856
...

General

Country risk
-

2,188

Total
9,146,044

Net provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .298,822

. . . . . . . . . . . . . . .- . . . . . . . . .(70)
.
298,752
Amount used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315,212
. . . . . . . . . . . . . . . -. . . . . . . . . . 315,212
Other variations and transfers. . . . . . . . . . . . . . . . . . . . . . . . . . . (41,149)
. . . . . . . . . . . . . . . - . . . . . . . . . . 2. . . . . (41,147)
. . .
Balance at the end of the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,086,317
.............

31.03.13

31.03.12

2,120
Variation
Amount

9,088,437

Risk quality measures (%):

Total risks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

155,141,866

150,982,311

Nonperformance (Nonperforming loans/ Total risks) . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.94

. . . . . . . . . . . . . . . . .6.35
......
Credit risk premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0.94
1.15
1.55
2.10

4,159,555
3.59
(0.21)
(0.55)

2.8

31.03.13

Coverage by type of non-performing balance:

Non-performing balances without mortgage guarantee . . . . .

3,905,985

Non-performing balances with mortgage guarantee . . . . . . . .

Value of guarantees (incuding haircuts) . . . . . . . . . . . . . . . .

11,522,461
8,766,196

Total non-performing balances* . . . . . . . . . . . . . . . . . . . . . .

Loans fully writen off . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Non-performing balances+Loans fully writen off . . . . . . . .

15,428,446
4,640,557
20,069,003

Total value of guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . .

Provisions for insolvency. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Provisions for insolvency with writen-offs balances . . . . . . . .
% Coverage for non-performing and writen-offs balances. . . . .
% Coverage for non-performing balances excl. writen-offs balances
% Coverage with guarantees

8,766,196
9,088,437
13,728,994
68.41
58.91
112.09

* Written off collateral values not included

Variation
Amount

31.03.13

31.03.12

Financial assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Credit risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Of which: bad debts recovered
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

249,654
249,262
41,066
392

310,290
301,215
48,603
9,075

(60,636)
(51,953)
(7,537)
(8,683)

Non-financial assets and property . . . . . . . . . . . . . . . . . . . . .

198,108

88,534

109,574

Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

447,762

398,824

48,938

Asset impairment:
(19.5)
(17.3)
(15.5)
(95.7)
>
12.3

Quarterly report

Mar-13

Solvency - EBA
(Amounts in thousands of )

31.03.13

31.03.12

Capital
Reserves
Convertibles
Minority interest
Deductions
Total core capital EBA
Core capital EBA (%)

6,310,976
3,839,915
1,757,404
45,598
(3,038,641)
8,915,252
10.05

42,519
(3,017,755)
6,775,873
7.13

Preffered shares*
Total Own funds Tier 1
Ratio Tier 1 (%)

165,180
9,080,432
10.24

2,568,733
9,344,606
9.84

Own funds BIS computable

Ratio BIS (%)

9,770,003
11.01

9,719,578
10.23

14.47

14.15

88,702,636
80,932,346
6,782,694
987,596

94,998,961
87,163,638
7,132,336
702,988

Leverage (1)
Total risk weighted assets
from which credit risk
from which operational risk
from which market risk

* Includes MCN
(1) Calculated with data as of each period end

3,270,599
6,480,510

Quarterly report

Mar-13

Equity
(Amounts in thousands of )

Balance at 12/31/2012 . . . . . . . . . . . . . . . . . . . . . . . . . .
Capital raise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Variation in treasury stock . . . . . . . . . . . . . . . . . . . . . .
Gain on treasury stock transactions . . . . . . . . . . . . . . .
Actuarial differences . . . . . . . . . . . . . . . . . . . . . . . . . . .
Remuneration of mandatory convertible debentures . . .
Consolidation operations and other (net) . . . . . . . . . . .
Corporate actions . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Value adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net profit at 31 March 2013 . . . . . . . . . . . . . . . . .
Dividends paid in 2013 . . . . . . . . . . . . . . . . . . . . . . . . .
Balance at 03/31/2012 . . . . . . . . . . . . . . . . . . . . . . . .

Capital &
reserves

Valuation
adjustments

10,797,878
(15,284)
(45,100)
(32,742)
692
(9,235)
(8,391)
735
104,222
10,792,775

(886,614)
233,924
(652,690)

Minority
interests
44,157
256
1,034
443
45,890

Net Asset
Value
9,955,421
(15,284)
(45,100)
(32,742)
692
(9,235)
(8,135)
735
234,958
104,665
10,185,975

Mandatory convertible notes

(Amounts in thousands of )

Amount

BSOC I/2012
BSOC II/2012

BSOC III/2012

BSOC IV/2012
TOTAL

Balance sheet
consideration

Coupon payment
accounting
method

Conversion
price

Floating at market
835,103 Subordinated debt Net Interest Income price. Floor:0,77

31,024 Equity
648,754 Equity

Disposals
Disposals

Convertion
date

Abril 2018

Fixed price: 3,57 Octubre 2013

Fixed price: 3,64 Noviembre 2015

1/3 Marzo 2013

Floating at market 1/3 Sept. 2013
1/3 Marzo 2014
234,000 Subordinated debt Net Interest Income price. Floor:0,5

Floating at market
50,000 Subordinated debt Net Interest Income price. Floor:0,5

1,798,881

1/3 Dic. 2013

1/3 Junio 2014
1/3 Dic. 2014

Quarterly report

Mar-13

Consolidated income and profitability

(Amounts in thousands of Euros)

31.03.12 Variation %

(Annualized % of ATA)

31.03.13

31.03.12

Variation %

Interest and similar income . . . . . . . . . . . . . . . . . . . . . . . . 1,296,640

. . . . . . . . . 1,342,929
. . . .
(3.4)
3.33
- Interest expense and similar charges. . . . . . . . . . . . . . . . . . . . . 704,071
. . . . . . . . . 650,065
. . . . . . . . . . .8.3
.
1.81
=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 592,569
. . . . . . . . . 692,864
. . . . .
(14.5)
1.52
+ Return on equity instruments . . . . . . . . .
5,539
382
>
0.01
+Share of results of entities accounted for using
the equity method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,922
. . . . . . . . 12,794
(61.5)
0.01
+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190,285
. . . . . . . . . 186,316
. . . . . . . . . . .2.1
.
0.49
Gains or losses on financial assets and liabilities (net) . . . . . . . . . .41,821
. . . . . . . . .53,832
. . . . . . . . (22.3)
. . . . . .
0.11
Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,490
. . . . . . . . . 12,355
. . . . . .
1.1
0.03
+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20,192)
. . . . . . . . . (23,424)
. . . .
(13.8)
(0.05)
=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .827,434
. . . . . . . . .935,119
. . . . . . . . . (11.5)
. . .
2.12
-Administrative expenses:
386,018
365,464
5.6
0.99
Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230,707
. . . . . . . . . 221,706
. . . . . . . .
4.1
0.59
Other general administrative expenses . . . . . . . . . . . . . . . .155,311
. . . . . . . . .143,758
. . . . . .
8.0
0.40
- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36,479
. . . . . . . . .31,085
. . . . . . . . .17.4
. . . .
0.09
= Net Operating Income (Pre-provision Profit) . . . . . . . . . . . . . . . . .404,937
. . . . . . . . .538,570
. . . . . . . . . (24.8)
. . . . . . . . .1.04
. .
-Financial asset impairment losses (net) . . . . . . . . . . . . . . . .249,654
. . . . . . . . .310,290
. . . . .
(19.5)
0.64
-Non financial asset impairment losses (net) . . . . . . . . . . . . . 198,108
. . . . . . . . . . 88,534
. . . . . . .
>
0.51
Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . . . . . . . .193,875
. . . . . . . . . . . 235
. . . . . . . . . .> . . . . . . 0.50
=Profit before tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151,050
. . . . . . . . . 139,981
.
7.9
0.39
- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,385
. . . . . . . . 39,395
17.7
0.12
+Profit/ Loss from discontinued operations (net) . . . . . . . .
=Consolidated profit for the year. . . . . . . . . . . . . . . . . . . . . .104,665
. . . . . . . . .100,586
. . . . . .
4.1
0.27
- Profit/ Loss attributed to minority interests . . . . . . . . . . . . . . . . . . . . 443
. . . . . . . . . 407
. . . . . . . . 8.8
. . .
=Profit/ Loss attributed to the controlling company. . . . . . . . . . . . . 104,222
. . . . . . . . . 100,179
. . . . . . . . . . .4.0
. . . . . . . 0.27
. . .

3.78
1.83
1.95
-

(0.45)
(0.02)
(0.43)
0.01

0.04
0.53
0.14
0.03
(0.06)
2.63
1.03
0.62
0.41
0.09
1.51
0.87
0.25
0.39
0.11
0.28
0.28

(0.03)
(0.04)
(0.03)
0.01
(0.51)
(0.04)
(0.03)
(0.01)
(0.47)
(0.23)
0.26
0.50
0.01
(0.01)
(0.01)

Return on Assets
Return on Risk Weighted Assets (RORWA) (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Return on Equity (ROE) (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cost to Income ratio (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

0.12
3.89
46.65

0.43
4.01
39.08

(0.31)
(0.12)
7.57

155,770
88,730
10,719

141,963
92,639
10,005

13,807
(3,909)
714

31.03.13

In Euro Million:
Average Total Assets.
Average Risk Weighted Assets (RWA)
Average Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Quarterly report

Mar-13

Quarterly P&L
(Amounts in thousands of Euros)

2012
I

II

III

Interest and similar income . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,342,929

. . . . . . . . 1,440,890
.
1,375,087
- Interest expense and similar charges. . . . . . . . . . . . . . . . . . . . . . . . .650,065
. . . . . . . . 697,901
. . . . . . . . . 707,386
=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 692,864
. . . . . . . . .742,989
. .
667,701
+ Return on equity instruments . . . . . . . . .
382
1,980
867
+Share of results of entities accounted for using
the equity method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12,794
. . . . .
1,053
2,648
+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186,316
. . . . . . . . . 223,207
. . . . . . . . . 191,878
Gains or losses on financial assets and liabilities (net) . . . . . . . . . . . . . 53,832
. . . . . . . . 135,323
. . . . . . . . . . .53,102
.
Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,355
. . . . . . . . .15,498
. . .
14,794
+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (23,424)
. . . . . . . . .(29,415)
.
(40,281)
=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .935,119
. . . . . . . 1,090,635
. . . . . . . . . . . 890,709
-Administrative expenses:
365,464
414,851
395,417
Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221,706
. . . . . . . . .245,778
. . . . .
237,882
Other general administrative expenses . . . . . . . . . . . . . . . . . . .143,758
. . . . . . . . 169,073
. . . .
157,535
- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31,085
. . . . . . . . 35,871
. . . . . . . . . . 34,503
.
= Net Operating Income (Pre-provision Profit) . . . . . . . . . . . . . . . . . . . .538,570
. . . . . . . . 639,913
. . . . . . . . . . 460,789
. . . . . . . .
-Financial asset impairment losses (net) . . . . . . . . . . . . . . . . . . .310,290
. . . . . . . . 428,238
. . .
252,425
-Non financial asset impairment losses (net) . . . . . . . . . . . . . . . . . 88,534
. . . . . . . . 106,258
. . . . .
83,988
Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . . . . . . . . . . . . . 235
. . . . . . . (1,753)
. . . . . . . . . . (1,004)
. . . . .
=Profit before tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139,981
. . . . . . . 103,664
123,372
- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,395
. . . . .
28,544
48,002
+Profit/ Loss from discontinued operations (net) . . . . . . . .
=Consolidated profit for the year. . . . . . . . . . . . . . . . . . . . . . . . .100,586
. . . . . . . . .75,120
. . .
75,370
- Profit/ Loss attributed to minority interests . . . . . . . . . . . . . . . . . . . . . . . 407
. . . . . . . . .(292)
. . . . . . . . (208)
=Profit/ Loss attributed to the controlling company. . . . . . . . . . . . . . . . 100,179
. . . . . . . . . 75,412
. . . . . . . . . . 75,578
. . . . . . . .

IV
1,337,507
722,305
615,202
877
6,575
192,269
62,580
12,501
(28,651)
861,353
428,991
244,368
184,623
55,260
377,102
3,356,767
1,031,727
152,656
(3,858,736)
(1,146,717)
(2,712,019)
173
(2,712,192)

2013
I
1,296,640
704,071
592,569
5,539
4,922
190,285
41,821
12,490
(20,192)
827,434
386,018
230,707
155,311
36,479
404,937
249,654
198,108
193,875
151,050
46,385
104,665
443
104,222

Quarterly report

Mar-13

Yields and Costs

(Amounts in %, rates annualized)

2012
I

II

III

IV

Interest and similar income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.78

. . . . . . . . 3.76
3.58
3.43
- Interest expense and similar charges. . . . . . . . . . . . . . . . . . . . . . . . .1.83
. . . . . . . .1.82
. . . . . . . 1.84
. .
1.85
=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.95
. . . . . . . .1.94
. .
1.74
1.58
+ Return on equity instruments . . . . . . . . .
0.01
+Share of results of entities accounted for using
the equity method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.04
. . . . .
0.01
0.02
+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.53
. . . . . . . 0.58
. . . . . . . . 0.50
. .
0.49
Gains or losses on financial assets and liabilities (net) . . . . . . . . . . . . . 0.14
. . . . . . . .0.35
. . . . . . . .0.14
. . . .
0.16
Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.03
. . . . . . . . 0.04
. . . .
0.04
0.03
+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(0.06)
. . . . . . . .(0.07)
.
(0.11)
(0.07)
=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2.63
. . . . . . . 2.85
. . . . . . . . 2.32
. .
2.21
-Administrative expenses:
1.03
1.08
1.03
1.10
Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.62
. . . . . . . 0.64
. . . . . .
0.62
0.63
Other general administrative expenses . . . . . . . . . . . . . . . . . . . 0.41
. . . . . . . . 0.44
. . . .
0.41
0.47
- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.09
. . . . . . . 0.10
. . . . . . . . 0.09
. . . .
0.14
=Profit before provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.51
. . . . . . . . 1.67
. . . . .
1.20
0.97
-Financial asset impairment losses (net) . . . . . . . . . . . . . . . . . . . 0.87
. . . . . . . . 1.12
. . .
0.66
8.62
-Non financial asset impairment losses (net) . . . . . . . . . . . . . . . . . 0.25
. . . . . . . . 0.28
. . . . .
0.22
2.65
Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . . . . . . . . . . . . . -. . . . . . . . -. . . . . . . . -. . . . . . 0.39
= Net Operating Income (Pre-provision Profit) . . . . . . . . . . . . . . . . . . . . 0.39
. . . . . . . . 0.27
. . . . . . . . 0.32
. . . . . . . (9.90)
. . .
- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0.11
. . . . .
0.07
0.12
(2.94)
+Profit/ Loss from discontinued operations (net) . . . . . . . .
=Consolidated profit for the year. . . . . . . . . . . . . . . . . . . . . . . . . 0.28
. . . . . . . . 0.20
. . . .
0.20
(6.96)
- Profit/ Loss attributed to minority interests . . . . . . . . . . . . . . . . . . . . . . . .- . . . . . . . -. . . . . . . . -.
=Profit/ Loss attributed to the controlling company. . . . . . . . . . . . . . . . .0.28
. . . . . . . .0.20
. . . . . . . .0.20
. . . . . . . (6.96)
. . .

2013
I
3.33
1.81
1.52
0.01
0.01
0.49
0.11
0.03
(0.05)
2.12
0.99
0.59
0.40
0.09
1.04
0.64
0.51
0.50
0.39
0.12
0.27
0.27

Return on Assets
Return on Risk Weighted Assets (RORWA) (%) . . . . . . . . . . . . . . . . . .0.43
. . . . . . . .0.73
. . . . . . . 0.31
. . .
Return on Equity (ROE) (%) . . . . . . . . . . . . . . . . . . . . . . . . . . 4.01
. . . .
2.89
2.83
Cost to Income ratio (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39.08
. . . . . . . .38.04
. . . . .
44.39
In Euro Million:
Average Total Assets.
141,963
153,281
Average Risk Weighted Assets (RWA). . . . . . . . . . . . . . . . . . . .92,639
. . . . . . . .96,088
. . .
Average Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,005
. . . . . . . .10,420

153,487
96,007
10,685

(11.38)
(96.89)
49.80

155,875
95,296
11,197

0.12
3.89
46.65

155,770
88,730
10,719

Quarterly report

Mar-13

Quarterly profitability
(Amounts in % ATA, rates annualized)

Average
balance

Financial system . . . . . . . . . . . . . . . . . . . . . . . .
Lending to customers (a). . . . . . . . . . . . . . . . . . . . . . . .
Securities portfolio . . . . . . . . . . . . . . . . . . . . . . . .
Other earning assets . . . . . . . . . . . . . . . . . . . . . . . .

31.03.13
Weight
(%)

Income or
expense

Average rate
(%)

Average
balance

31.03.12
Weight
(%)

Income or
expense

Average
rate (%)

5,621,114
104,482,966
26,002,340
19,663,204

3.61
67.08
16.69
12.62

6,327
1,105,805
182,632
1,876

0.45
4.23
2.81
0.04

4,424,236
102,368,594
19,151,816
16,018,166

3.12
72.11
13.49
11.28

10,310
1,177,483
152,997
2,139

0.93
4.60
3.20
0.05

155,769,624

100.00

1,296,640

3.33

141,962,812

100.00

1,342,929

3.78

Financial system . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,772,633

.
Customer funds (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88,253,581
...
Demand accounts. . . . . . . . . . . . . . . . . . . . . . . .
15,192,775
Savings and time deposits . . . . . . . . . . . . . . . . . . . . . . . . 63,334,598
Deposits at central counterparty entities. . . . . . . .
5,120,316
Retail commercial paper. . . . . . . . . . . . . . . . .
4,605,892
Marketable debt securities & other . . . . . . . . . . . . . . . . . . . . . 20,015,235
...
Other interest-bearing liabilities. . . . . . . . . . . .
391,142
Other funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6,617,960
Capital and Reserves. . . . . . . . . . . . . . . . . . . . . . . .
10,719,073

19.11
56.66
9.75
40.66
3.29
2.96
12.85
0.25
4.25
6.88

101,966
439,982
17,146
372,811
3,659
46,366
158,308
3,815
-

1.37
1.99
0.45
2.35
0.29
4.03
3.16
3.90
-

25,730,856
78,257,360
14,774,540
51,164,541
9,624,490
2,693,789
23,415,352
277,527
4,277,143
10,004,574

18.13
55.13
10.41
36.04
6.78
1.90
16.49
0.20
3.00
7.05

103,981
409,645
26,293
338,677
19,794
24,881
132,241
4,198
-

1.62
2.09
0.71
2.65
0.82
3.69
2.26
6.05
-

Total liabilities and equity (d) . . . . . . . . . . . . . . . . . . .155,769,624

. . . . . . . . 100.00
. . . . . . . .704,071
. . . . .

1.81

141,962,812

100.00

650,065

1.83

Customer spread (a-c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Net Interest Margin (b-d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2.24
1.52

Total empleos (b)

2.51
1.95

Quarterly report

Mar-13

Quarterly Yields and Costs

(Amounts in %, rates annualized)

2012
I
Weight

Yield

II
Weight

Yield

III
Weight

Financial system . . . . . . . . . . . . . . . . . . . . . . . .
3.12
Lending to customers (a). . . . . . . . . . . . . . . . . . . . . . . .72.11
Securities portfolio . . . . . . . . . . . . . . . . . . . . . . . .
13.49
Other earning assets . . . . . . . . . . . . . . . . . . . . . . . . 11.28

0.93
4.60
3.19
0.05

2.56
71.52
13.51
12.41

1.10
4.63
3.09
0.05

Total assets (b)

3.78

100.00

Financial system . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18.13

. . . . . . 1.62
Customer funds (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . .55.13
. . . . . . . . 2.09
Demand accounts. . . . . . . . . . . . . . . . . . . . . . . .
10.41
0.71
Savings and time deposits . . . . . . . . . . . . . . . . . . . . 36.04
....
2.65
Deposits at central counterparty entities. . . . . . . .
6.78
0.82
Retail commercial paper. . . . . . . . . . . . . . . . .
1.90
3.69
Marketable debt securities & other . . . . . . . . . . . . . . . .16.49
. . . . . . . . 2.26
Other interest-bearing liabilities. . . . . . . . . . . .
0.20
6.05
Other funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3.00
.
Capital and Reserves. . . . . . . . . . . . . . . . . . . . . . . .
7.05
-

19.86
54.98
10.32
39.04
1.99
3.63
15.18
0.26
2.92
6.80

2013
I
Weight
Yield

Yield

IV
Weight

Yield

3.05
70.88
13.21
12.86

0.69
4.43
3.18
0.03

4.15
69.69
13.78
12.38

0.57
4.31
2.90
0.04

3.61
67.08
16.69
12.62

0.45
4.23
2.81
0.04

3.76

100.00

3.58

100.00

3.43

100.00

3.33

1.90
2.11
0.53
2.45
0.37
3.84
1.81
4.04
-

23.76
51.43
10.22
35.04
1.61
4.57
14.01
0.25
3.59
6.96

1.43
2.18
0.42
2.55
0.25
3.99
2.56
8.70
-

22.88
53.81
9.87
37.28
2.28
4.38
12.50
0.24
3.39
7.18

1.37
2.17
0.47
2.50
0.41
4.09
2.85
6.96
-

19.11
56.66
9.75
40.66
3.29
2.96
12.85
0.25
4.25
6.88

1.37
1.99
0.45
2.35
0.29
4.03
3.16
3.90
-

Total liabilities and equity (d) . . . . . . . . . . . . . . . 100.00

. . . . . . 1.83
. . . . .100.00
. . . . . . 1.82
. . . . 100.00
. . . .

1.84

100.00

1.85

100.00

1.81

Customer spread (a-c) . . . . . . . . . . . . . . . . . . . . . . . . .2.51

. . . . . . . . . . 2.52
.
Net Interest Margin (b-d) . . . . . . . . . . . . . . . . . . . . . 1.95
. . . . . . . . . . . 1.94

2.25
1.74

100.00

2.14
1.58

2.24
1.52

Mar-13

Quarterly report

Net fees and commision income

(Amounts in thousands of )

Weights %
Variation %

31.03.13

31.03.12

180,007

173,424

3.8

94.6

93.1

22,253
6,893
790
10,349
4,221

19,658
5,689
1,031
11,064
1,874

13.2
21.2
(23.4)
(6.5)
>

11.7
3.6
0.4
5.4
2.2

10.6
3.1
0.6
5.9
1.0

133,054
2,583
26,546
37,287
9,995
20,161
36,482

130,147
2,578
24,202
34,226
11,613
21,903
35,625

2.2
0.2
9.7
8.9
(13.9)
(8.0)
2.4

69.9
1.4
14.0
19.6
5.3
10.6
19.2

69.9
1.4
13.0
18.4
6.2
11.8
19.1

Means of payment . . . . . . . . . . . . . . . . . . . . . . . . . .

24,700

23,619

4.6

13.0

12.6

Defaults

10,278

12,892

(20.3)

5.4

6.9

100.0

100.0

Banking services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Portfolio administration. . . . . . . . . . . . . . . . . . . . . . .
Securities portfolios. . . . . . . . . . . . . . . . . . . . . . . .
Asset portfolio management . . . . . . . . . . . . . . . . .
Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pension plans. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other banking services . . . . . . . . . . . . . . . . . . . . . . .
Securities and foreign currency purchase and sale .
Demand account administration . . . . . . . . . . . . . . .
Provision of collateral and other guarantees. . . . . .
Asset transaction services. . . . . . . . . . . . . . . . . . .
Collection and payment handling . . . . . . . . . . . . . .
Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

....................................

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .190,285
. . . . . . . . . 186,316
. . . . . . . . . . .

2.1

31.03.13

31.03.12

Mar-13

Quarterly report

Personnel and general expenses

(Amounts in thousand of )

Weights %
Variation %

31.03.13

31.03.12

31.03.13

31.03.12

Personnel expenses:

230,707

221,706

4.1

59.8

60.7

Wages and salaries . . . . . . . . . . . . . . . . . . . . . . . .

Social security charges . . . . . . . . . . . . . . . . . . . . .
Other personnel expenses . . . . . . . . . . . . . . . . . .
Pensions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

172,311
45,585
6,609
6,202

167,179
40,617
6,832
7,078

3.1
12.2
(3.3)
(12.4)

44.6
11.8
1.7
1.6

45.7
11.1
1.9
1.9

General expenses

155,311

143,758

8.0

40.2

39.3

Rentals and commons services . . . . . . . . . . . . . . . . . . . . .37,253

. . . . . . . . . 36,363
. . . . . . . . . . .2.4
. . . . . . 9.7
Communications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8,629
. . . . . . . . . 8,764
. . . . . . . . . .(1.5)
. . . . . . 2.2
Fix assets conservation . . . . . . . . . . . . . . . . . . . . . . . . . 11,084
. . . . . . . . . 12,122
. . . . . . . . . . .(8.6)
. . .
2.9
IT and other technical expenses . . . . . . . . . . . . . . . . . . . . . .37,232
. . . . . . . . . . . 27,761
. . . . . . . . . . 34.1
. . . . . . . . 9.6
. . . . . .
Stationery and office supply . . . . . . . . . . . . . . . . . . . . . . . 2,134
. . . . . . . . . .1,884
. . . . . . . . . 13.3
. . . . .
0.6
Technical reports and legal expenses . . . . . . . . . . . . . . . . .9,048
. . . . . . . . 10,131
. . . . . . . . . .(10.7)
. . . . . . . 2.3
Advertising and publicity . . . . . . . . . . . . . . . . . . . . . . . . . . .9,063
. . . . . . . . . 7,647
. . . . . . . . . 18.5
. . . . . . . 2.3
Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,608
. . . . . . . . . .2,519
. . . . . . . . .(36.2)
. . . . . . . 0.4
Security and fund transport services . . . . . . . . . . . . . . . . 6,523
. . . . . . . . . 5,271
. . . . . . . . . 23.8
. . . .
1.7
Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,890
. . . . . . . . . 2,383
. . . . . . . . . (20.7)
. . . . . . .
0.5
VAT and others . . . . . . . . . . . . . . . . . . . . . . . . . . .25,721
. . . . . . . . . 19,169
. . . .
34.2
6.7
Other general expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,126
. . . . . . . . . .9,744
. . . . . . . . (47.4)
. . . . . . . . 1.3
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 386,018
. . . . . . . . . .365,464
. . . . . . . . .

5.6

100.0

9.9
2.4
3.3
7.6
0.5
2.8
2.1
0.7
1.4
0.7
5.2
2.7
100.0