banco popular 1q13 eng

8/12/2019 Banco Popular 1Q13 ENG

http://slidepdf.com/reader/full/banco-popular-1q13-eng 1/16

Quarterly report Mar

Highlights

(Amounts in thousands of €)

31.03.13 31.03.12 Variation

Highlights

Total assets managed . . . . . . . . . . . . . . . . . . . . . 175,029,145 172,902,676 1

On-balance sheet total assets . . . . . . . . . . . . . . . . . . . . . . 159,936,521 158,207,172 1

Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,792,775 10,514,501 2

Adjusted customer deposits . . . . . . . . . . . . . . . . . . 82,729,627 84,405,135 (2

Lending to customers (gross) . . . . . . . . . . . . . . . . . . . . 116,090,476 117,954,679 (1

Solvencia

Core capital EBA (%) 10.05 7.13Tier 1 (%) 10.24 9.84

Ratio BIS (%) 11.01 10.23

Leverage (%) 14.47 14.15

Risk Management

Total risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155,141,866 150,982,311 2

Non-performing loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,428,446 9,594,016 60

Allowance for credit losses . . . . . . . . . . . . . . . . . . . . . 9,088,437 4,749,617 91

Non performing loans ratio(%) . . . . . . . . . . . . . . . . . . . . . . . . . 9.94 6.35

% Coverage for non-performing and writen-offs balances. . . . . 68.41 67.46

% Coverage for non-performing balances excl. writen-offs balances 58.91 49.51

% Coverage with guarantees 112.09 1 107.48

Earnings

Net interest income . . . . . . . . . . . . . . . . . . . . . . . 592,569 692,864 (14

Gross income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 827,434 935,119 (11

Profit before provisions. . . . . . . . . . . . . . . . . . . . . . . . . 404,937 538,570 (24

Profit before tax . . . . . . . . . . . . . . . . . . . . 151,050 139,981 7

Consolidated profit for the year . . . . . . . . . . . . . . . . . 104,665 100,586 4

Profit attributed to the Group. . . . . . . . . . . . . . . . . . . . . 104,222 100,179 4

Net Return and Efficiency

Average total assets . . . . . . . . . . . . . . . . . . . . . . . . . 155,769,624 141,962,812 9

Average total equity . . . . . . . . . . . . . . . . . . . . . . . . . 10,719,073 10,004,574 7

ROA (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.27 0.28

ROE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.89 4.01

Operating Efficiency (%) . . . . . . . . . . . . . . . . . . . . . . . . 46.65 39.08

Per share data

Final number of shares fully diluted (thousands) . . . . . . . . . . . . . . . . . . 10,171,6102

1,796,728

Average number of shares fully diluted (thousands) . . . . . . . . . . . . . . . . 10,032,2382

1,368,527

Share closing market price (euros) . . . . . . . . . . . . . . . . . . . . . . . 0.58 2.69 (78

Market capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . 5,879,1903

4,833,198 21

Share book value (euros) . . . . . . . . . . . . . . . . 1.17 5.85 (80Net earnings per share (euros) . . . . . . . . . . . . . . . . . . . . . 0.012

20.073 (83

Dividend per share paid in the period (euros) . - 0.040 (100



Quarterly report

Balance Sheet


31.03.13 31.12.12 31.03.12

Assets

Cash and balances with central banks . . . . . . . . . . . . . . . . . 1,540,063 2,117,182 1,918,616

Financial assets held for trading . . . . . . . . . . . . . . . . . . . . . . 1,998,396 2,096,851 1,607,436

. 487,837 493,623 652,868

Investment Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,988,846 21,857,472 20,728,965

Loans and receivables . . . . . . . . . . . . . . . . . . . . . . 113,252,579 114,444,133 118,976,220

Loans and advances to other debtors . . . . . . . . . 107,649,039 108,809,293 113,779,784

Other loans and receivables . . . . . . . . . . . . . . . . 4,620,791 4,658,658 3,928,042

Of which interbank deposits . . . . . . . . . . . . . . 244,506 430,048 948,701

Fixed Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 982,749 976,182 1,268,394

Adjustments to financial assets on macro-hedging. . . . . 199,078 222,647 40,962

Hedging derivatives . . . . . . . . . . . . . . . . . . . . . . . . 717,782 678,357 1,022,868

Non-current assets held for sale . . . . . . . . . . . . . . 5,236,070 4,896,644 4,542,713

Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 777,336 811,356 652,360

Insurance contracts linked to pensions . . . . . . . . . 144,238 144,530 161,529

Reinsurance assets . . . . . . . . . . . . . . . . . . . . . . . . . 6,755 4,878 3,111

Tangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,918,336 1,892,725 1,923,103

Intangible assets . . . . . . . . . . . . . . . . . . . . . . . . . . 2,674,590 2,655,084 2,018,130

Tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,474,883 3,703,759 2,300,358

Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,519,732 1,598,877 1,657,933

Total Assets. . . . . . . . . . . . . . . . . . . . . . . . 159,936,521 157,618,118 158,207,172

Liabilities

Financial liabilities held for trading . . . . . . . . . . . . . . . . . . . . 1,504,922 1,491,141 1,007,207

Other financial liabilities at fair value through profit or loss . . 3,238 93,060 206,799

Finacial liabilities at amortised cost: . . . . . . . . . . . . . 144,133,521 141,726,166 143,772,315

Liabilities of credit institutions . . . . . . . . . . . . . . . . . . 29,638,489 34,966,637 28,072,850

Interbank deposits………………………………… 2,675,568 4,093,661 2,838,689

Deposits from other creditors . . . . . . . . . . . . . . . . . . . . . 90,901,089 79,830,212 84,612,354

Debt certificates including bonds . . . . . . . . . . . . . 20,222,141 23,442,605 26,886,963

Subordinated liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 2,202,987 2,170,454 2,993,131

Other financial liabilities . . . . . . . . . . . . . . . . . . . . . . . 1,168,815 1,316,258 1,207,017

Hedging derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,885,788 2,048,864 1,592,511

Insurance contract liabilities . . . . . . . . . . . . . . . . . . . . . 926,017 814,599 678,516

Provisions for contingent exposures . . . . . . . . . . . . . . . . . . . 490,864 508,047 543,913

Tax liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 440,133 461,230 360,529

Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 366,063 519,590 365,274

Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149,750,546 147,662,697 148,527,064

Equity

Total Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,792,775 10,797,878 10,514,501

Capital, reserves and retained earnings . . . . . . . . . . . . . . 10,688,553 13,258,901 10,414,322

Profit or loss for the period . . . . . . . . . . . . . . . . . . . . . . . 104,222 (2,461,023) 100,179

Dividends paid and declared . . . . . . . . . . . . . . . . . . . . - - -

Valuation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . (652,690) (886,614) (876,563)

Minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,890 44,157 42,170

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



Quarterly report Mar-13

Commercial Gap


31.03.13

Lending to customers 107,649

Other lending (243)

Repos (6,503)

Total lending to customers net (ex repos) (a) 100,903

Current accounts 22,337Term deposits 47,263

Others and valuation adjustments 446

Subtotal customer deposits (ex repos) 70,046

Retail Commercial paper 3,176

ICO Funding 5,479

Securitizations sold to third parties 539

Marketable securities distributed through the branch network 1,304

Tax collection accounts 414

Total customer deposits (b) 80,958

GAP (a-b) 19,945

LTD (a/b) 125%



Quarterly report

Lending to customers


31.03.13 31.12.12

Customer deposit:

General government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,988,566 7,410,601 5,

Other private sectors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68,466,095 67,249,082 70,

Residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,108,932 58,802,462 62, Non residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,357,163 8,446,620 8,

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,040 233,576

Subtotal customer deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77,569,701 74,893,259 76,

Deposits at central counterparty entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,331,388 4,936,953 7,

Total customer deposits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,901,089 79,830,212 84,

Unadjusted debt certificates including bonds: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,654,632 22,846,880 26,

Bonds and other securities outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,021,560 15,740,074 19,

Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,633,072 7,106,806 6,

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 567,509 595,725

Total debt certificates including bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,222,141 23,442,605 26,

Subordinated liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,202,987 2,170,454 2,

Total on-balance sheet funds (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113,326,217 105,443,271 114,49

Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,546,397 7,271,865 7,4

Asset portfolio management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 743,992 720,438

Pensions funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,977,744 4,914,876 4,

Insurance premiums . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,824,491 1,733,741 1,

Total other intermediated funds (b) . . . . . . . . . . . . . . . . . . . . . 15,092,624 14,640,920 14,

Total funds managed (a+b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128,418,841 120,084,191 129,

Retail funds

(Amounts in euros thousands) 31.03.13 31.12.12

Demand deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,336,775 21,886,235 22,

Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,262,614 45,804,485 48,

Asset repos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,538,543 6,405,186 4, Other accounts and valuation adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 431,769 797,353

Subtotal customer deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77,569,701 74,893,259 76,



Quarterly report

Lending to customers


31.03.13 31.12.12 31.03.12 3 mo

Lending to general government . . . . . . . . . . . . . . . . . . . . 3,724,421 3,839,449 1,798,319

Lending to other private sectors . . . . . . . . . . . . . . . . . . . . 112,123,070 113,226,801 115,901,202

Residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101,963,960 103,025,775 105,432,717

Non residents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,159,110 10,201,026 10,468,485

Total lending to customers . . . . . . . . . . . . . . . . . . . . . . 115,847,491 117,066,250 117,699,521

Other loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 242,985 232,652 255,158

Total lending to customers and others. . . . . . . . . . . . . 116,090,476 117,298,902 117,954,679

Valuation adjustments (+/-) . . . . . . . . . . . . . . . . . . . . . (8,441,437) (8,489,609) (4,174,895)

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107,649,039 108,809,293 113,779,784

Lending to customers by type

(Amounts in euros thousands)31.03.13 31.12.12 31.03.12 3 mo

Trade loans and discounts . . . . . . . . . . . 3,660,331 3,740,553 4,567,187

Secured loans . . . . . . . . . . . . . . . . . . . . 50,711,298 54,023,003 59,388,295

Mortgage . . . . . . . . . . . . . . . . . . . . . . 49,259,275 52,299,261 56,750,196

Other . . . . . . . . . . . . . . . . . . . . . . . . . 1,452,023 1,723,742 2,638,099

Repos . . . . . . . . . . . . . . . . . . . . . . . . . . 6,501,730 6,792,524 6,591,643

Term loans and other lending. . . . . . . . . 37,430,284 36,301,223 34,930,061

Leasing . . . . . . . . . . . . . . . . . . . . . . . . . 2,632,653 2,732,177 3,137,031

Doubtful assets . . . . . . . . . . . . . . . . . . . 15,154,180 13,709,422 9,340,462

Total lending to customers . . . . . . . . . . . . . . . . . . . . 116,090,476 117,298,902 117,954,679



Quarterly report

Risk Management Performance(Amounts in thousands of €)

31.03.13 31.03.12 Amount

Non performing loans

Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,976,733 7,323,272 6,653,461

Additions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,613,979 1,231,623 1,382,356

Recoveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 846,841 608,207 238,634

Other changes * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . - 1,977,279 (1,977,279)

Net variation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,767,138 2,600,695 (833,557)

% increase. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.6 35.5

Write-offs (315,425) (329,951) 14,526

Balance at the end of the period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,428,446 9,594,016 5,834,430

* Mainly Banco Pastor

31.03.13 31.03.12 Amount

Allowance for credit losses

Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,146,044 2,530,076 6,615,968

Annual provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,478,753 578,333 900,420

Recoveries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,180,494) (232,194) (948,300)

Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 298,259 346,139 (47,880)

Other variations * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (41,147) 2,202,841 (2,243,988) Writte-offs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (314,719) (329,439) 14,720

Balance at the end of the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,088,437 4,749,617 4,338,820

Of which sub-standard risk provisions 1,066,645 872,290 194,355

* Mainly Banco Pastor

Specific General Country risk T

Balance at 1 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,143,856 - 2,188 9,

Net provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 298,822 - (70)

Amount used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315,212 - -

Other variations and transfers. . . . . . . . . . . . . . . . . . . . (41,149) - 2

Balance at the end of the period . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,086,317 - 2,120 9,

31.03.13 31.03.12 Amount

Risk quality measures (%):

Total risks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155,141,866 150,982,311 4,159,555

Nonperformance (Nonperforming loans/ Total risks) . . . . . . . . . . . . . . 9.94 6.35 3.59

Credit risk premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.94 1.15 (0.21)

1.55 2.10 (0.55)

Variation

Variation

Variation



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 . . . . . . . . 11,522,461

Value of guarantees (incuding haircuts) . . . . . . . . . . . . . . . . 8,766,196

Total non-performing balances* . . . . . . . . . . . . . . . . . . . . . . 15,428,446

Loans fully writen off . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,640,557

Non-performing balances+Loans fully writen off . . . . . . . . 20,069,003

Total value of guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,766,196

Provisions for insolvency. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,088,437

Provisions for insolvency with writen-offs balances . . . . . . . . 13,728,994

% Coverage for non-performing and writen-offs balances. . . . . 68.41

% Coverage for non-performing balances excl. writen-offs balances 58.91

% Coverage with guarantees 112.09

* Written off collateral values not included

31.03.13 31.03.12 Amount

Asset impairment:

Financial assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249,654 310,290 (60,636)

Credit risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249,262 301,215 (51,953)

Of which: bad debts recovered 41,066 48,603 (7,537)

Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 392 9,075 (8,683)

Non-financial assets and property . . . . . . . . . . . . . . . . . . . . . 198,108 88,534 109,574

Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 447,762 398,824 48,938

Variation




Solvency - EBA

(Amounts in thousands of €) 31.03.13 31.03.12

Capital 6,310,976 3,270,599

Reserves 3,839,915 6,480,510

Convertibles 1,757,404 -

Minority interest 45,598 42,519

Deductions (3,038,641) (3,017,755)

Total core capital EBA 8,915,252 6,775,873

Core capital EBA (%) 10.05 7.13

Preffered shares* 165,180 2,568,733

Total Own funds Tier 1 9,080,432 9,344,606

Ratio Tier 1 (%) 10.24 9.84

Own funds BIS computable 9,770,003 9,719,578

Ratio BIS (%) 11.01 10.23

Leverage (1) 14.47 14.15

Total risk weighted assets 88,702,636 94,998,961

from which credit risk 80,932,346 87,163,638

from which operational risk 6,782,694 7,132,336

from which market risk 987,596 702,988

* Includes MCN

(1) Calculated with data as of each period end




Equity


Capital &

reserves

Valuation

adjustments

Minority

interests

Net Asset

Value

Balance at 12/31/2012 . . . . . . . . . . . . . . . . . . . . . . . . . 10,797,878 (886,614) 44,157 9,955,421

Capital raise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15,284) - - (15,284)

Variation in treasury stock . . . . . . . . . . . . . . . . . . . . . (45,100) - - (45,100)

Gain on treasury stock transactions . . . . . . . . . . . . . (32,742) - - (32,742)

Actuarial differences . . . . . . . . . . . . . . . . . . . . . . . . . 692 - - 692

Remuneration of mandatory convertible debentures . (9,235) - - (9,235)

Consolidation operations and other (net) . . . . . . . . . . (8,391) - 256 (8,135)

Corporate actions . . . . . . . . . . . . . . . . . . . . . . . . . . . 735 - - 735

Value adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . - 233,924 1,034 234,958

Net profit at 31 March 2013 . . . . . . . . . . . . . . . . . 104,222 - 443 104,665

Dividends paid in 2013 . . . . . . . . . . . . . . . . . . . . . . . - - - -

Balance at 03/31/2012 . . . . . . . . . . . . . . . . . . . . . . . . 10,792,775 (652,690) 45,890 10,185,975

Mandatory convertible notes(Amounts in thousands of €)

Amount

Balance sheet

consideration

Coupon payment

accounting

method

Conversion

price

Convertion

date

BSOC I/2012 835,103 Subordinated debt Net Interest Income

Floating at market

price. Floor:0,77€ Abril 2018

BSOC II/2012 31,024 Equity Disposals Fixed price: 3,57€ Octubre 2013

648,754 Equity Disposals Fixed price: 3,64€ Noviembre 20

BSOC III/2012 234,000 Subordinated debt Net Interest Income

Floating at market

price. Floor:0,5€

1/3 Marzo 201

1/3 Sept. 201

1/3 Marzo 201

BSOC IV/2012 50,000 Subordinated debt Net Interest Income

Floating at market

price. Floor:0,5€

1/3 Dic. 20131/3 Junio 201

1/3 Dic. 2014

TOTAL 1,798,881



Quarterly report

Consolidated income and profitability

31.03.13 31.03.12 Variation % 31.03.13 31.03.12 Var

Interest and similar income . . . . . . . . . . . . . . . . . . . . 1,296,640 1,342,929 (3.4) 3.33 3.78

- Interest expense and similar charges. . . . . . . . . . . . . . . . 704,071 650,065 8.3 1.81 1.83

=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . 592,569 692,864 (14.5) 1.52 1.95

+ 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 0.04

+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . 190,285 186,316 2.1 0.49 0.53

±Gains or losses on financial assets and liabilities (net) . . . 41,821 53,832 (22.3) 0.11 0.14

±Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . 12,490 12,355 1.1 0.03 0.03

+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . (20,192) (23,424) (13.8) (0.05) (0.06)

=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . 827,434 935,119 (11.5) 2.12 2.63 -Administrative expenses: 386,018 365,464 5.6 0.99 1.03

Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . 230,707 221,706 4.1 0.59 0.62

Other general administrative expenses . . . . . . . . . . 155,311 143,758 8.0 0.40 0.41

- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . 36,479 31,085 17.4 0.09 0.09

= Net Operating Income (Pre-provision Profit) . . . . . . . . 404,937 538,570 (24.8) 1.04 1.51

-Financial asset impairment losses (net) . . . . . . . . . . 249,654 310,290 (19.5) 0.64 0.87

-Non financial asset impairment losses (net) . . . . . . . . 198,108 88,534 > 0.51 0.25

±Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . 193,875 235 > 0.50 -

=Profit before tax . . . . . . . . . . . . . . . . . . . . . . . . . 151,050 139,981 7.9 0.39 0.39

- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,385 39,395 17.7 0.12 0.11

+Profit/ Loss from discontinued operations (net) . . . . . . . . - - - -

=Consolidated profit for the year. . . . . . . . . . . . . . . . 104,665 100,586 4.1 0.27 0.28

- 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 0.28

Return on Assets

Return on Risk Weighted Assets (RORWA) (%) . . . . . . . . 0.12 0.43

Return on Equity (ROE) (%) . . . . . . . . . . . . . . . . . 3.89 4.01

Cost to Income ratio (%) . . . . . . . . . . . . . . . . . . . . . . . . 46.65 39.08

In Euro Million:

Average Total Assets…………………………………………… 155,770 141,963

Average Risk Weighted Assets (RWA)……………………… 88,730 92,639

Average Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,719 10,005

(Amounts in thousands of Euros) (Annualized % of ATA)



Quarterly report

Quarterly P&L(Amounts in thousands of Euros)

2

I II III IV

Interest and similar income . . . . . . . . . . . . . . . . . . . . . . . 1,342,929 1,440,890 1,375,087 1,337,507 1

- Interest expense and similar charges. . . . . . . . . . . . . . . . . . . 650,065 697,901 707,386 722,305

=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 692,864 742,989 667,701 615,202

+ Return on equity instruments . . . . . . . . . 382 1,980 867 877

+Share of results of entities accounted for usingthe equity method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,794 1,053 2,648 6,575

+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . 186,316 223,207 191,878 192,269

±Gains or losses on financial assets and liabilities (net) . . . . . . . 53,832 135,323 53,102 62,580

±Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . . . . 12,355 15,498 14,794 12,501

+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . . . . (23,424) (29,415) (40,281) (28,651)

=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . 935,119 1,090,635 890,709 861,353

-Administrative expenses: 365,464 414,851 395,417 428,991

Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221,706 245,778 237,882 244,368

Other general administrative expenses . . . . . . . . . . . . . 143,758 169,073 157,535 184,623

- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . 31,085 35,871 34,503 55,260

= Net Operating Income (Pre-provision Profit) . . . . . . . . . . . . . 538,570 639,913 460,789 377,102

-Financial asset impairment losses (net) . . . . . . . . . . . . . 310,290 428,238 252,425 3,356,767

-Non financial asset impairment losses (net) . . . . . . . . . . . 88,534 106,258 83,988 1,031,727

±Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . . . . . 235 (1,753) (1,004) 152,656 =Profit before tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139,981 103,664 123,372 (3,858,736)

- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,395 28,544 48,002 (1,146,717)

+Profit/ Loss from discontinued operations (net) . . . . . . . . - - - -

=Consolidated profit for the year. . . . . . . . . . . . . . . . . . . 100,586 75,120 75,370 (2,712,019)

- Profit/ Loss attributed to minority interests . . . . . . . . . . . . . . . 407 (292) (208) 173

=Profit/ Loss attributed to the controlling company. . . . . . . . . 100,179 75,412 75,578 (2,712,192)

2012




Yields and Costs(Amounts in %, rates annualized)

2013

I II III IV I

Interest and similar income . . . . . . . . . . . . . . . . . . . . . . 3.78 3.76 3.58 3.43 3.

´- Interest expense and similar charges. . . . . . . . . . . . . . . . . 1.83 1.82 1.84 1.85 1.

=Net interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.95 1.94 1.74 1.58 1.

+ Return on equity instruments . . . . . . . . . - 0.01 - - 0.

+Share of results of entities accounted for using

the equity method. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.04 - 0.01 0.02 0.

´+Net fees and commissions . . . . . . . . . . . . . . . . . . . . . . . . . 0.53 0.58 0.50 0.49 0.

±Gains or losses on financial assets and liabilities (net) . . . . . . 0.14 0.35 0.14 0.16 0.

±Exchange differences (net) . . . . . . . . . . . . . . . . . . . . . . . 0.03 0.04 0.04 0.03 0.

+Other operating profits . . . . . . . . . . . . . . . . . . . . . . . . . (0.06) (0.07) (0.11) (0.07) (0.

=Gross operating income . . . . . . . . . . . . . . . . . . . . . . . . . . 2.63 2.85 2.32 2.21 2.

-Administrative expenses: 1.03 1.08 1.03 1.10 0.

Personnel expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.62 0.64 0.62 0.63 0.

Other general administrative expenses . . . . . . . . . . . . 0.41 0.44 0.41 0.47 0.

- Depreciation & amortisation . . . . . . . . . . . . . . . . . . . . . . . . . 0.09 0.10 0.09 0.14 0.

=Profit before provisions . . . . . . . . . . . . . . . . . . . . . . . . . . 1.51 1.67 1.20 0.97 1.

-Financial asset impairment losses (net) . . . . . . . . . . . . 0.87 1.12 0.66 8.62 0.

-Non financial asset impairment losses (net) . . . . . . . . . . 0.25 0.28 0.22 2.65 0.

±Gains/ (Losses) on assets held for sale (net) . . . . . . . . . . . . . . - - - 0.39 0

= Net Operating Income (Pre-provision Profit) . . . . . . . . . . . 0.39 0.27 0.32 (9.90) 0.

- Income tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.11 0.07 0.12 (2.94) 0.+Profit/ Loss from discontinued operations (net) . . . . . . . . - - - -

=Consolidated profit for the year. . . . . . . . . . . . . . . . . . 0.28 0.20 0.20 (6.96) 0.

- Profit/ Loss attributed to minority interests . . . . . . . . . . . . . . - - - -

=Profit/ Loss attributed to the controlling company. . . . . . . . 0.28 0.20 0.20 (6.96) 0.

Return on Assets

Return on Risk Weighted Assets (RORWA) (%) . . . . . . . . . . 0.43 0.73 0.31 (11.38) 0.

Return on Equity (ROE) (%) . . . . . . . . . . . . . . . . . . . 4.01 2.89 2.83 (96.89) 3.

Cost to Income ratio (%) . . . . . . . . . . . . . . . . . . . . . . . . . . 39.08 38.04 44.39 49.80 46.

In Euro Million:

Average Total Assets……………………………………………… 141,963 153,281 153,487 155,875 155,7 Average Risk Weighted Assets (RWA). . . . . . . . . . . . . . 92,639 96,088 96,007 95,296 88,7

Average Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,005 10,420 10,685 11,197 10,7

2012



Quarterly report

Quarterly profitability(Amounts in % ATA, rates annualized)

31.03.13 31.03.12

Average

balance

Weight

(%)

Income or

expense

Average

balance

Weight

(%)

Inco

exp

Financial system . . . . . . . . . . . . . . . . . . . . . . . . 5,621,114 3.61 6,327 0.45 4,424,236 3.12

Lending to customers (a). . . . . . . . . . . . . . . . . . . . . . . . 104,482,966 67.08 1,105,805 4.23 102,368,594 72.11 1,

Securities portfolio . . . . . . . . . . . . . . . . . . . . . . . . 26,002,340 16.69 182,632 2.81 19,151,816 13.49

Other earning assets . . . . . . . . . . . . . . . . . . . . . . . . 19,663,204 12.62 1,876 0.04 16,018,166 11.28

Total empleos (b) 155,769,624 100.00 1,296,640 3.33 141,962,812 100.00 1,

Financial system . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,772,633 19.11 101,966 1.37 25,730,856 18.13

Customer funds (c) . . . . . . . . . . . . . . . . . . . . . . . . . . 88,253,581 56.66 439,982 1.99 78,257,360 55.13

Demand accounts. . . . . . . . . . . . . . . . . . . . . . . . 15,192,775 9.75 17,146 0.45 14,774,540 10.41

Savings and time deposits . . . . . . . . . . . . . . . . . . . 63,334,598 40.66 372,811 2.35 51,164,541 36.04

Deposits at central counterparty entities. . . . . . . . 5,120,316 3.29 3,659 0.29 9,624,490 6.78

Retail commercial paper. . . . . . . . . . . . . . . . . 4,605,892 2.96 46,366 4.03 2,693,789 1.90

Marketable debt securities & other . . . . . . . . . . . . . . 20,015,235 12.85 158,308 3.16 23,415,352 16.49

Other interest-bearing liabilities. . . . . . . . . . . . 391,142 0.25 3,815 3.90 277,527 0.20

Other funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,617,960 4.25 - - 4,277,143 3.00

Capital and Reserves. . . . . . . . . . . . . . . . . . . . . . . . 10,719,073 6.88 - - 10,004,574 7.05

Total liabilities and equity (d) . . . . . . . . . . . . . . . 155,769,624 100.00 704,071 1.81 141,962,812 100.00

Customer spread (a-c) . . . . . . . . . . . . . . . . . . 2.24

Net Interest Margin (b-d) . . . . . . . . . . . . . . . 1.52

Average rate

(%)




Quarterly Yields and Costs

Weight Yield Weight Yield Weight Yield Weight Yield Weight Y

Financial system . . . . . . . . . . . . . . . . . . . . . . . . 3.12 0.93 2.56 1.10 3.05 0.69 4.15 0.57 3.61 0

Lending to customers (a). . . . . . . . . . . . . . . . . . 72.11 4.60 71.52 4.63 70.88 4.43 69.69 4.31 67.08 4

Securities portfolio . . . . . . . . . . . . . . . . . . . . . . 13.49 3.19 13.51 3.09 13.21 3.18 13.78 2.90 16.69 2

Other earning assets . . . . . . . . . . . . . . . . . . . . 11.28 0.05 12.41 0.05 12.86 0.03 12.38 0.04 12.62 0

Total assets (b) 100.00 3.78 100.00 3.76 100.00 3.58 100.00 3.43 100.00 3

Financial system . . . . . . . . . . . . . . . . . . . . . . . . 18.13 1.62 19.86 1.90 23.76 1.43 22.88 1.37 19.11 1

Customer funds (c) . . . . . . . . . . . . . . . . . . . . . . 55.13 2.09 54.98 2.11 51.43 2.18 53.81 2.17 56.66 1

Demand accounts. . . . . . . . . . . . . . . . . . . . . 10.41 0.71 10.32 0.53 10.22 0.42 9.87 0.47 9.75 0

Savings and time deposits . . . . . . . . . . . . . . 36.04 2.65 39.04 2.45 35.04 2.55 37.28 2.50 40.66 2

Deposits at central counterparty entities. . . . . . . 6.78 0.82 1.99 0.37 1.61 0.25 2.28 0.41 3.29 0

Retail commercial paper. . . . . . . . . . . . . . . . . 1.90 3.69 3.63 3.84 4.57 3.99 4.38 4.09 2.96 4

Marketable debt securities & other . . . . . . . . . . 16.49 2.26 15.18 1.81 14.01 2.56 12.50 2.85 12.85 3

Other interest-bearing liabilities. . . . . . . . . . . . 0.20 6.05 0.26 4.04 0.25 8.70 0.24 6.96 0.25 3

Other funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.00 - 2.92 - 3.59 - 3.39 - 4.25

Capital and Reserves. . . . . . . . . . . . . . . . . . . . 7.05 - 6.80 - 6.96 - 7.18 - 6.88

Total liabilities and equity (d) . . . . . . . . . . . . 100.00 1.83 100.00 1.82 100.00 1.84 100.00 1.85 100.00 1

Customer spread (a-c) . . . . . . . . . . . . . . . 2.51 2.52 2.25 2.14 2

Net Interest Margin (b-d) . . . . . . . . . . . . 1.95 1.94 1.74 1.58 1

(Amounts in %, rates annualized)

2012 2013

I II III IV I



Quarterly report Mar-

Net fees and commision income(Amounts in thousands of €)

31.03.13 31.03.12 Variation % 31.03.13 31.03.

Banking services . . . . . . . . . . . . . . . . . . . . . . . . . 180,007 173,424 3.8 94.6 93

Portfolio administration. . . . . . . . . . . . . . . . . . . . . . . 22,253 19,658 13.2 11.7 10

Securities portfolios. . . . . . . . . . . . . . . . . . . . . . . 6,893 5,689 21.2 3.6 3

Asset portfolio management . . . . . . . . . . . . . . . . 790 1,031 (23.4) 0.4 0Mutual funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,349 11,064 (6.5) 5.4 5

Pension plans. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,221 1,874 > 2.2 1

Other banking services . . . . . . . . . . . . . . . . . . . . 133,054 130,147 2.2 69.9 69

Securities and foreign currency purchase and sal 2,583 2,578 0.2 1.4 1

Demand account administration . . . . . . . . . . . . . 26,546 24,202 9.7 14.0 13

Provision of collateral and other guarantees. . . . . 37,287 34,226 8.9 19.6 18

Asset transaction services. . . . . . . . . . . . . . . . . . 9,995 11,613 (13.9) 5.3 6

Collection and payment handling . . . . . . . . . . . . . 20,161 21,903 (8.0) 10.6 11

Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,482 35,625 2.4 19.2 19

Means of payment . . . . . . . . . . . . . . . . . . . . . . . . . 24,700 23,619 4.6 13.0 12

Defaults . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,278 12,892 (20.3) 5.4 6

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190,285 186,316 2.1 100.0 100

Weights %




Personnel and general expenses(Amounts in thousand of €)

31.03.13 31.03.12 Variation % 31.03.13 31.03.12

Personnel expenses: 230,707 221,706 4.1 59.8 60.7

Wages and salaries . . . . . . . . . . . . . . . . . . . . . . . . 172,311 167,179 3.1 44.6 45.7

Social security charges . . . . . . . . . . . . . . . . . . . . . 45,585 40,617 12.2 11.8 11.1

Other personnel expenses . . . . . . . . . . . . . . . . . . 6,609 6,832 (3.3) 1.7 1.9

Pensions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,202 7,078 (12.4) 1.6 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 9.9

Communications . . . . . . . . . . . . . . . . . . . . . . . . . . 8,629 8,764 (1.5) 2.2 2.4

Fix assets conservation . . . . . . . . . . . . . . . . . . . . 11,084 12,122 (8.6) 2.9 3.3

IT and other technical expenses . . . . . . . . . . . . . . 37,232 27,761 34.1 9.6 7.6

Stationery and office supply . . . . . . . . . . . . . . . . . 2,134 1,884 13.3 0.6 0.5

Technical reports and legal expenses . . . . . . . . . 9,048 10,131 (10.7) 2.3 2.8

Advertising and publicity . . . . . . . . . . . . . . . . . . . . 9,063 7,647 18.5 2.3 2.1

Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,608 2,519 (36.2) 0.4 0.7

Security and fund transport services . . . . . . . . . . 6,523 5,271 23.8 1.7 1.4

Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,890 2,383 (20.7) 0.5 0.7

VAT and others . . . . . . . . . . . . . . . . . . . . . 25,721 19,169 34.2 6.7 5.2

Other general expenses . . . . . . . . . . . . . . . . . . . . 5,126 9,744 (47.4) 1.3 2.7

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 386,018 365,464 5.6 100.0 100.0

Weights %

banco popular 1q13 eng

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