Bankinter Group closed 2020 with growth in all margins and in its main business lines, despite the difficulties derived from the pandemic. In terms of profitability and asset quality, the Bank retained its leading position among Spanish listed banks for another year, while reinforcing a level of capital adequacy that continues to be much higher than that required by the European Central Bank (ECB).
The result of the recurring banking business (473 million euros) fell by 13.2% and the earnings before tax (230.5 million euros) fell by 62%, as a result of the provisions made to anticipate the macroeconomic deterioration (242.5 million euros) and the absence of the extraordinary results from purchasing EVO in 2019.
The Group's net profit stood at 317.1 million euros, 42.4% less than in 2019. Even so, the return on equity (RoE) stood at 7%. Without the impact of the extraordinary provisions, the RoE would have been 10.8%.
Bankinter strengthened its capital adequacy, with a CET1 fully-loaded capital ratio of 12.3%, well above the ECB's minimum requirement of 7.7% for the type of business and level of non-performing loans.
The NPL ratio, which has maintained its downward trend for years, was 2.37%, almost half that of the sector average and below the 2.51% of the previous year. NPL coverage grew notably, from 48.4% to 60.5%.
With regard to liquidity, Bankinter closed 2020 with a negative commercial gap, as the loan-to-deposit ratio was 103.2%.
Scheduled maturities for 2021 amount to 200 million euros, plus 1 billion euros for 2022, for which the Bank has liquid assets of 20.7 billion euros and a bond issuing capacity of 3.5 billion euros
The difficult economic and interest rate environment did not stop all income statement margins from improving year on year, thanks to the commercial momentum and good business management.
The Group's total assets amounted to 96.252.1 billion euros (+15%), while loans and receivables closed at 64.384.3 billion (+6.6%). Loans in Spain (excluding EVO Banco) grew by 6.1%, well above a sector average of 2.4% according to Banco de España figures to November.
Retail funds totaled 65.009.9 billion euros (+12.5%). In Spain (excluding EVO), the increase was 13.3%, compared with November's sector average of 8.4%.
In an environment as adverse as that of 2020, the Bank maintained its customer-related business activity at a good pace and even exceeded the revenues of 2019. During the most complicated months of the lockdown, multiple initiatives were launched to mitigate the impact of the crisis, providing liquidity to families and companies affected by the exceptional economic situation .
Corporate Banking. Loans and receivables closed 2020 at 28.4 billion euros (+11%). In Spain alone, the growth was 11.5% (vs 8.1% sector average with November figures). The loans guaranteed by the ICO contributed decisively to this, with 8.6 billion euros executed, of which 6 billion had already been drawn down at the end of the year. Bankinter kept the NPL ratio of its corporate loans and receivables under control: 7.4% in small SMEs and 3.4% in larger SMEs at the end of the year.
Commercial Retail Banking. Private Banking managed 42.8 billion euros (+6%) as at 31 December, after raising 2.7 billion of new equity. In Personal Banking, growth was 9%, with a new net worth of 2.3 billion euros. Even though real estate activity was practically stalled in the most complicated months of the pandemic, the mortgage portfolio (excluding EVO) grew in Spain by 1.7%, while the sector registered a 1.5% drop until November. New mortgage business totalled 2.9 billion euros in the year, just 3% lower than in 2019. The Salary Account kept performing well, with an increase in the portfolio of 22%, to 12.7 billion.
Bankinter Portugal. Its loans and receivables ended the year up 7% at 6.6 billion euros. Customer funds (4.8 billion) went up by 6% and off-balance-sheet managed funds (3.6 billion), 2%. Margins saw double-digit increases: 10% in net interest income and 13% in gross operating income, driven by the strong performance of fees and commissions. However, earnings before tax (45 million euros) decreased by 31%, mainly because the Bank stopped releasing provisions this year and began to allocate them.
Bankinter Consumer Finance. The consumer credit business in Spain, Portugal and Ireland had to face a reduction in household spending, as a result of the months of lockdown, restrictions on movement and the drop in general economic activity. The loan book reached a figure similar to that of the previous year: 2.9 billion euros with a contained non-performing loan (NPL) ratio of 6.2%. Avantcard consolidated its position in the Irish market as one of the leading consumer operators and expanded its business to include mortgages through the new brand Avant Money.
EVO Banco. The consumer credit business in Spain, Portugal and Ireland had to face a reduction in household spending, as a result of the months of lockdown, restrictions on movement and the drop in general economic activity. The loan book reached a figure similar to that of the previous year: 2.9 billion euros with a contained non-performing loan (NPL) ratio of 6.2%. Avantcard consolidated its position in the Irish market as one of the leading consumer operators and expanded its business to include mortgages through the new brand Avant Money.
Línea Directa Aseguradora. It obtained earnings before tax of 179.6 million euros (+25.7%) and a net profit of 135 million (+26%), with an RoE of 35% and a combined ratio of 83.4%. The capital adequacy ratio II was 276% as at 31 December. The number of insured risks rose to 3.22 million (+1.7%), with a volume of written premiums of 899 million euros, slightly higher than in 2019.
ASSETS |
31.12.2020 |
31.12.2019(*) |
Cash, cash balances at central banks and other demand deposits |
15,044,317 |
6,407,046 |
|
|
|
Financial assets held for trading |
2,158,742 |
3,848,150 |
Derivatives |
498,922 |
314,215 |
Equity instruments |
181,834 |
263,269 |
Debt securities |
400,254 |
1,309,400 |
Loans and advances |
1,077,732 |
1,961,266 |
Central banks |
- |
- |
Credit institutions |
1,020,568 |
1,688,819 |
Customers |
57,164 |
272,447 |
Memorandum items: loaned or pledged |
136,949 |
668,485 |
|
|
|
Non-trading financial assets mandatorily at fair value through profit or loss |
119,555 |
130,303 |
Equity instruments |
118,865 |
116,805 |
Debt securities |
690 |
13,498 |
Loans and advances |
- |
- |
Central banks |
- |
- |
Credit institutions |
- |
- |
Customers |
- |
- |
Memorandum items: loaned or pledged |
- |
- |
|
|
|
Financial assets designated at fair value through profit or loss |
- |
- |
Debt securities |
- |
- |
Loans and advances |
- |
- |
Central banks |
- |
- |
Credit institutions |
- |
- |
Customers |
- |
- |
Memorandum items: loaned or pledged |
- |
- |
|
|
|
Financial assets at fair value through other comprehensive income |
2,629,598 |
5,340,159 |
Equity instruments |
- |
106,288 |
Debt securities |
2,629,598 |
5,233,871 |
Loans and advances |
- |
- |
Central banks |
- |
- |
Credit institutions |
- |
- |
Customers |
- |
- |
Memorandum items: loaned or pledged |
560,373 |
406,692 |
|
|
|
Financial assets at amortised cost |
72,861,812 |
65,670,760 |
Debt securities |
7,579,330 |
4,850,360 |
Loans and advances |
65,282,482 |
60,820,400 |
Central banks |
- |
- |
Credit institutions |
2,122,461 |
1,649,634 |
Customers |
63,160,021 |
59,170,766 |
Memorandum items: loaned or pledged |
4,303,136 |
1,335,245 |
|
|
|
Derivatives – hedge accounting |
210,773 |
202,118 |
|
|
|
Fair value changes of the hedged items in portfolio hedge of interest rate risk |
195,805 |
107,439 |
|
|
|
Investments in joint ventures and associates |
109,526 |
140,875 |
Joint ventures |
36,679 |
47,734 |
Associates |
72,847 |
93,141 |
|
|
|
Assets under reinsurance and insurance contracts |
- |
12,108 |
|
|
|
Tangible assets |
455,070 |
600,654 |
Property, plant and equipment |
455,070 |
533,956 |
For own use |
435,540 |
509,658 |
Leased out under an operating lease |
19,530 |
24,298 |
Assigned to welfare projects (savings banks and credit cooperatives) |
- |
- |
Investment property |
- |
66,698 |
of which: Leased out under operating leases |
- |
66,698 |
Memorandum items: Acquired under finance leases |
115,221 |
117,687 |
|
|
|
Intangible assets |
258,075 |
391,936 |
Goodwill |
2,276 |
164,113 |
Other intangible assets |
255,799 |
227,823 |
|
|
|
Tax assets |
380,085 |
470,032 |
Current tax assets |
110,053 |
178,130 |
Deferred tax assets |
270,032 |
291,902 |
|
|
|
Other assets |
120,326 |
217,848 |
Insurance contracts linked to pensions |
- |
- |
Inventories |
- |
- |
Other assets |
120,326 |
217,848 |
|
|
|
Non-current assets and disposal groups classified as held for sale |
1,708,409 |
192,917 |
|
|
|
TOTAL ASSETS |
96,252,093 |
83,732,345 |
LIABILITIES AND EQUITY |
31.12.2020 |
31.12.2019(*) |
LIABILITIES |
91,287,936 |
78,932,381 |
|
|
|
Financial liabilities held for trading |
1,382,300 |
2,823,849 |
Derivatives |
440,711 |
387,041 |
Short positions |
496,886 |
865,012 |
Deposits |
444,703 |
1,571,796 |
Central banks |
- |
- |
Credit institutions |
- |
77,521 |
Customers |
444,703 |
1,494,275 |
Debt securities issued |
- |
- |
Other financial liabilities |
- |
- |
|
|
|
Financial liabilities designated at fair value through profit or loss |
- |
- |
Deposits |
- |
- |
Central banks |
- |
- |
Credit institutions |
- |
- |
Customers |
- |
- |
Debt securities issued |
- |
- |
Other financial liabilities |
- |
- |
Memorandum items: subordinated liabilities |
- |
- |
|
|
|
Financial liabilities at amortised cost |
87,472,834 |
73,970,770 |
Deposits |
78,028,886 |
64,641,613 |
Central banks |
12,885,116 |
7,336,682 |
Credit institutions |
2,072,639 |
1,377,447 |
Customers |
63,071,131 |
55,927,484 |
Debt securities issued |
7,623,285 |
7,688,413 |
Other financial liabilities |
1,820,663 |
1,640,744 |
Memorandum items: subordinated liabilities |
1,167,074 |
855,589 |
|
|
|
Derivatives – hedge accounting |
482,033 |
265,394 |
Fair value changes of the hedged items in portfolio hedge of interest rate risk |
38,775 |
40,022 |
Liabilities under reinsurance and insurance contracts |
- |
750,267 |
|
|
|
Provisions |
438,511 |
382,733 |
Pensions and other post-employment defined benefit obligations |
1,265 |
3,832 |
Other long-term employee benefits |
- |
- |
Pending legal issues and tax litigation |
100,098 |
75,233 |
Commitments and guarantees given |
37,787 |
14,137 |
Other provisions |
299,361 |
289,531 |
|
|
|
Tax liabilities |
220,102 |
421,254 |
Current tax liabilities |
90,490 |
206,012 |
Deferred tax liabilities |
129,612 |
215,242 |
|
|
|
Share capital repayable on demand |
- |
- |
|
|
|
Other liabilities |
264,433 |
278,092 |
Of which: welfare fund (savings banks and credit cooperatives only) |
- |
- |
|
|
|
Liabilities included in disposal groups classified as held for sale |
988,948 |
- |
TOTAL LIABILITIES |
91,287,936 |
78,932,381 |
LIABILITIES AND EQUITY (continued) |
31.12.2020 |
31.12.2019(*) |
Shareholders’ equity |
4,816,054 |
4,612,343 |
Capital |
269,660 |
269,660 |
a) Paid up capital |
269,660 |
269,660 |
b) Unpaid capital which has been called up |
- |
- |
Memorandum items: uncalled share capital |
- |
- |
Share premium |
1,184,265 |
1,184,265 |
Equity instruments issued other than share capital |
- |
- |
a) Equity component of compound financial instruments |
- |
- |
b) Other equity instruments issued |
- |
- |
Other equity |
7,482 |
12,567 |
Retained earnings |
3,051,137 |
2,762,882 |
Revaluation reserves |
4,806 |
4,716 |
Other reserves |
(14,778) |
4,252 |
Reserves or accumulated losses of investments in joint ventures and associates |
(14,778) |
4,252 |
Other |
- |
- |
(-) Treasury shares |
(3,641) |
(1,222) |
Profit or loss attributable to owners of the parent company |
317,123 |
550,665 |
(-) Interim dividends |
- |
(175,442) |
Accumulated other comprehensive income |
148,103 |
187,621 |
Items that will not be reclassified to profit or loss |
6,200 |
(1,897) |
a) Actuarial gains or (-) losses on defined benefit pension plans |
(976) |
(4,617) |
b) Non-current assets and disposal groups classified as held for sale |
7,176 |
- |
c) Share of other recognised income and expense of investments in joint ventures and associates |
- |
- |
d) Fair value changes of equity instruments measured at fair value through other comprehensive income |
- |
2,720 |
e) Hedge ineffectiveness of fair value hedges for equity instruments measured at fair value through other comprehensive income |
- |
- |
Fair-value changes of equity instruments measured at fair value with changes in other comprehensive income [hedged item] |
- |
- |
Fair-value changes of equity instruments measured at fair value through other comprehensive income [hedging instrument] |
- |
- |
f) Fair-value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk |
- |
- |
Items that may be reclassified to profit or loss |
141,903 |
189,518 |
a) Hedge of net investments in foreign operations [effective portion] |
- |
- |
b) Foreign currency translation |
- |
- |
c) Hedging derivatives. Cash flow hedges [effective part] |
(962) |
28 |
d) Fair value changes of debt instruments measured at fair value through other comprehensive income |
99,711 |
183,952 |
e) Hedging instruments [not designated elements] |
- |
- |
f) Non-current assets and disposal groups classified as held for sale |
37,550 |
- |
g) Share of other recognised income and expense of investments in joint ventures and associates |
5,604 |
5,538 |
Minority interests [Non-controlling interests] |
- |
- |
Accumulated other comprehensive income |
- |
- |
Other items |
- |
- |
TOTAL EQUITY |
4,964,157 |
4,799,964 |
TOTAL EQUITY AND LIABILITIES |
96,252,093 |
83,732,345 |
MEMORANDUM ITEMS: OFF-BALANCE-SHEET EXPOSURES |
||
Loan commitments given |
16,985,633 |
14,263,210 |
Financial guarantees given |
1,749,716 |
1,748,165 |
Other commitments given |
7,028,444 |
5,386,593 |
(Debit)/Credit |
(Debit)/Credit |
31.12.2020 |
31.12.2019(*) |
|
Interest income |
1,385,745 |
1,368,816 |
Financial assets at fair value through other comprehensive income |
71,069 |
91,860 |
Financial assets at amortised cost |
1,275,012 |
1,249,809 |
Other interest income |
39,664 |
27,147 |
Interest expenses |
(138,745) |
(200,934) |
Expenses on share capital repayable on demand |
- |
- |
A) NET INTEREST INCOME |
1,247,000 |
1,167,882 |
Dividend income |
19,032 |
10,315 |
Share of the profit or loss of entities accounted for using the equity method |
28,766 |
30,601 |
Fee and commission income |
631,565 |
593,226 |
Fee and commission expenses |
(134,805) |
(114,274) |
Gains or losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net |
45,807 |
37,887 |
Financial assets at amortised cost |
31,156 |
5,516 |
Other financial assets and liabilities |
14,651 |
32,371 |
Gains or losses on financial assets and liabilities held for trading, net |
6,017 |
22,777 |
Reclassification of financial assets out of fair value through other comprehensive income |
- |
- |
Reclassification of financial assets out of amortised cost |
- |
- |
Other gains or losses |
6,017 |
22,777 |
Gains or losses on non-trading financial assets mandatorily at fair value through profit or loss, net |
5,025 |
7,072 |
Reclassification of financial assets out of fair value through other comprehensive income |
- |
- |
Reclassification of financial assets out of amortised cost |
- |
- |
Other gains or losses |
5,025 |
7,072 |
Gains or losses on financial assets and liabilities designated at fair value through profit or loss, net |
- |
- |
Gains or losses from hedge accounting, net |
63 |
27 |
Exchange differences [gain or loss], net |
(7,813) |
(1,165) |
Other operating income |
36,928 |
41,996 |
Other operating expenses |
(168,545) |
(146,892) |
Of which: compulsory transfers to welfare funds (only savings banks and credit cooperatives) |
- |
- |
Income from assets under insurance and reinsurance contracts |
- |
- |
Expenses from liabilities under insurance and reinsurance contracts |
- |
- |
B) GROSS OPERATING INCOME |
1,709,040 |
1,649,452 |
Administrative expenses |
(753,281) |
(745,104) |
a) Staff expenses |
(446,695) |
(461,811) |
b) Other administrative expenses |
(306,586) |
(283,293) |
Depreciation and amortisation |
(75,577) |
(61,676) |
Provisions or reversal or provisions |
(204,766) |
(143,861) |
Impairment or reversal of impairment and gains or losses on modifications of cash flows of financial assets not measured at fair value through profit or loss or modification gains or losses, net |
(425,429) |
(138,358) |
a) Financial assets at fair value through other comprehensive income |
567 |
(393) |
b) Financial assets at amortised cost |
(425,996) |
(137,965) |
Impairment or reversal of impairment of investments in joint ventures and associates |
- |
- |
Impairment or reversal of impairment on non-financial assets |
(2,084) |
(296) |
Tangible assets |
- |
(296) |
Intangible assets |
(2,082) |
- |
Other |
(2) |
- |
Gains or losses on derecognition of non-financial assets |
(1,190) |
283 |
Negative goodwill recognised in profit or loss |
- |
62,071 |
Profit or loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations |
(16,174) |
(15,530) |
C) PROFIT OR LOSS BEFORE TAX FROM CONTINUING OPERATIONS |
230,539 |
606,981 |
Tax expense or income related to profit or loss from continuing operations |
(56,413) |
(158,064) |
D) PROFIT OR LOSS AFTER TAX FROM CONTINUING OPERATIONS |
174,126 |
448,917 |
Profit or loss after tax from discontinued operations |
142,997 |
101,748 |
E) PROFIT OR LOSS FOR THE PERIOD |
317,123 |
550,665 |
Attributable to minority interests (non-controlling interests) |
- |
- |
Attributable to the owners of the parent |
317,123 |
550,665 |
EARNINGS PER SHARE: |
||
Basic |
0.35 |
0.61 |
Diluted |
0.33 |
0.60 |
31.12.2020 |
31.12.2019(*) |
|
A) PROFIT OR LOSS FOR THE PERIOD |
317,123 |
550,665 |
B) OTHER COMPREHENSIVE INCOME |
(39,518) |
45,954 |
Items that will not be reclassified to profit or loss |
8,097 |
5,687 |
a) Actuarial gains or (-) losses on defined benefit pension plans |
5,159 |
(4,488) |
b) Non-current assets and disposal groups held for sale |
9,567 |
- |
c) Share of other recognised income and expense of investments in joint ventures and associates |
- |
- |
d) Fair value changes of equity instruments measured at fair value through other comprehensive income |
(3,627) |
11,792 |
e) Gains or (-) losses from hedge accounting of equity instruments at fair value through other comprehensive income, net |
- |
- |
f) Fair-value changes of equity instruments measured at fair value through other comprehensive income (hedged item) |
- |
- |
g) Fair-value changes of equity instruments measured at fair value through other comprehensive income (hedging instrument) |
- |
- |
h) Fair-value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk |
- |
- |
i) Income tax relating to items that will not be reclassified |
(3,002) |
(1,617) |
Items that may be reclassified to profit or loss |
(47,615) |
40,267 |
a) Hedge of net investments in foreign operations [effective portion] |
- |
- |
Valuation gains or (-) losses taken to equity |
- |
- |
Transferred to profit or loss |
- |
- |
Other reclassifications |
- |
- |
b) Foreign currency translation |
- |
- |
Translation gains or (-) losses taken to equity |
- |
- |
Transferred to profit or loss |
- |
- |
Other reclassifications |
- |
- |
c) Cash flow hedges [effective portion] |
(1,414) |
(114) |
Valuation gains or (-) losses taken to equity |
(1,414) |
(114) |
Transferred to profit or loss |
- |
- |
Transferred to initial carrying amount of hedged items |
- |
- |
Other reclassifications |
- |
- |
d) Hedging instruments [not designated elements] |
- |
- |
Valuation gains or (-) losses taken to equity |
- |
- |
Transferred to profit or loss |
- |
- |
Other reclassifications |
- |
- |
e) Debt instruments at fair value through other comprehensive income |
(117,052) |
52,167 |
Valuation gains or (-) losses taken to equity |
(64,605) |
81,798 |
Transferred to profit or loss |
(6,544) |
(29,631) |
Other reclassifications |
(45,903) |
- |
f) Non-current assets and disposal groups held for sale |
50,067 |
- |
Valuation gains or (-) losses taken to equity |
4,164 |
- |
Transferred to profit or loss |
- |
- |
Other reclassifications |
45,903 |
- |
g) Share of other recognised income and expense of investments in joint ventures and associates |
65 |
2,897 |
h) Income tax relating to items that may be reclassified to profit or (-) loss |
20,719 |
(14,683) |
C) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
277,605 |
596,619 |
Attributable to minority interests (non-controlling interests) |
- |
- |
Attributable to the owners of the parent |
277,605 |
596,619 |
Minority Interests |
||||||||||||||
Share capital |
Share premium |
Equity instruments issued other than share capital |
Other equity items |
Retained earnings |
Revaluation reserves |
Other reserves |
(-) Treasury shares |
Profit or loss attributable to the owners of the parent company |
(-) Interim dividends |
Accumulated other comprehensive income |
Accumulated other comprehensive income |
Other items |
Total |
|
Closing balance at 31.12.2019 |
269,660 |
1,184,265 |
- |
12,567 |
2,762,882 |
4,716 |
4,252 |
(1,222) |
550,665 |
(175,442) |
187,621 |
- |
- |
4,799,964 |
Effects of correction of errors |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Effects of changes in accounting policies |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Opening balance at 1.1.2020 |
269,660 |
1,184,265 |
- |
12,567 |
2,762,882 |
4,716 |
4,252 |
(1,222) |
550,665 |
(175,442) |
187,621 |
- |
- |
4,799,964 |
Total comprehensive income for the period |
- |
- |
- |
- |
- |
- |
- |
- |
317,123 |
- |
(39,518) |
- |
- |
277,605 |
Other changes in equity |
- |
- |
- |
(5,085) |
288,255 |
90 |
(19,030) |
(2,419) |
(550,665) |
175,442 |
- |
- |
- |
(113,412) |
Issuance of ordinary shares |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Issuance of preference shares |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Issuance of other equity instruments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Exercise or maturity of other equity instruments issued |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Conversion of debt to equity |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Share capital reductions |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividends (or shareholder remuneration) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
(87,757) |
- |
- |
- |
(87,757) |
Purchase of treasury shares |
- |
- |
- |
- |
(340) |
- |
- |
(59,003) |
- |
- |
- |
- |
- |
(59,343) |
Sale or cancellation of treasury shares |
- |
- |
- |
- |
- |
- |
- |
56,584 |
- |
- |
- |
- |
- |
56,584 |
Reclassification of financial instruments from equity to liability |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Reclassification of financial instruments from liabilities to equity |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Transfers between equity components |
- |
- |
- |
- |
287,466 |
- |
- |
- |
(550,665) |
263,199 |
- |
- |
- |
- |
Increases or decreases in equity arising from business combinations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Share-based payments |
- |
- |
- |
(5,085) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
(5,085) |
Other increases or (-) decreases in equity |
- |
- |
- |
- |
1,129 |
90 |
(19,030) |
- |
- |
- |
- |
- |
- |
(17,811) |
Of which: discretionary transfer to welfare funds (only savings banks and credit cooperatives) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Closing balance at 31.12.2020 |
269,660 |
1,184,265 |
- |
7,482 |
3,051,137 |
4,806 |
(14,778) |
(3,641) |
317,123 |
- |
148,103 |
- |
- |
4,964,157 |
Closing balance at 31.12.2018 (*) |
269,660 |
1,184,265 |
- |
18,151 |
2,523,867 |
7,425 |
(10,907) |
(693) |
526,398 |
(173,980) |
141,666 |
- |
- |
4,485,852 |
Effects of correction of errors |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Effects of changes in accounting policies |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Opening balance at 1.1.2019 |
269,660 |
1,184,265 |
- |
18,151 |
2,523,867 |
7,425 |
(10,907) |
(693) |
526,398 |
(173,980) |
141,666 |
- |
- |
4,485,852 |
Total comprehensive income for the period |
- |
- |
- |
- |
- |
- |
- |
- |
550,665 |
- |
45,954 |
- |
- |
596,619 |
Other changes in equity |
- |
- |
- |
(5,584) |
239,015 |
(2,709) |
15,159 |
(529) |
(526,398) |
(1,462) |
- |
- |
- |
(282,508) |
Issuance of ordinary shares |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Issuance of preference shares |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Issuance of other equity instruments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Exercise or maturity of other equity instruments issued |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Conversion of debt to equity |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Share capital reductions |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividends (or shareholder remuneration) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
(264,661) |
- |
- |
- |
(264,661) |
Purchase of treasury shares |
- |
- |
- |
- |
(295) |
- |
- |
(52,907) |
- |
- |
- |
- |
- |
(53,202) |
Sale or cancellation of treasury shares |
- |
- |
- |
- |
- |
- |
- |
52,378 |
- |
- |
- |
- |
- |
52,378 |
Reclassification of financial instruments from equity to liability |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Reclassification of financial instruments from liabilities to equity |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Transfers between equity components |
- |
- |
- |
- |
263,199 |
- |
- |
- |
(526,398) |
263,199 |
- |
- |
- |
- |
Increases or decreases in equity arising from business combinations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Share-based payments |
- |
- |
- |
(5,584) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
(5,584) |
Other increases or (-) decreases in equity |
- |
- |
- |
- |
(23,889) |
(2,709) |
15,159 |
- |
- |
- |
- |
- |
- |
(11,439) |
Of which: discretionary transfer to welfare funds (only savings banks and credit cooperatives) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Closing balance at 31.12.2019(*) |
269,660 |
1,184,265 |
- |
12,567 |
2,762,882 |
4,716 |
4,252 |
(1,222) |
550,665 |
(175,442) |
187,621 |
- |
- |
4,799,964 |
31.12.2020 |
31.12.2019 (*) |
|
A) CASH FLOWS FROM OPERATING ACTIVITIES |
8,538,308 |
156,475 |
Profit or loss for the period |
317,123 |
550,665 |
Adjustments to obtain cash flows from operating activities |
860,390 |
517,188 |
Depreciation and amortisation |
75,577 |
80,943 |
Other adjustments |
784,813 |
436,245 |
Net increase/(decrease) in operating assets |
4,355,843 |
4,454,544 |
Financial assets held for trading |
(1,689,408) |
(1,315,248) |
Non-trading financial assets mandatorily at fair value through profit or loss |
(10,748) |
(587) |
Financial assets designated at fair value through profit or loss |
- |
- |
Financial assets at fair value through other comprehensive income |
(1,816,622) |
366,277 |
Financial assets at amortised cost |
7,946,282 |
5,439,201 |
Other operating assets |
(73,661) |
(35,099) |
Net increase/(decrease) in operating liabilities |
11,837,451 |
3,668,701 |
Financial liabilities held for trading |
(1,441,548) |
(974,244) |
Financial liabilities designated at fair value through profit or loss |
- |
- |
Financial liabilities at amortised cost |
13,296,974 |
4,584,168 |
Other operating liabilities |
(17,975) |
58,777 |
Income tax recovered/(paid) |
(120,813) |
(125,535) |
B) CASH FLOWS FROM INVESTING ACTIVITIES |
(120,860) |
1,309,581 |
Payments |
(189,627) |
(352,621) |
Tangible assets |
(17,911) |
(57,699) |
Intangible assets |
(68,773) |
(87,578) |
Investments in joint ventures and associates |
- |
- |
Subsidiaries and other business units |
- |
(207,344) |
Non-current assets and liabilities classified as held for sale |
(102,943) |
- |
Other payments related to investing activities |
- |
- |
Proceeds |
68,767 |
1,662,202 |
Tangible assets |
- |
10,994 |
Intangible assets |
- |
- |
Investments in joint ventures and associates |
228 |
517 |
Subsidiaries and other business units |
- |
- |
Non-current assets and liabilities classified as held for sale |
68,539 |
91,950 |
Other proceeds related to investing activities |
- |
1,558,741 |
C) CASH FLOWS FROM FINANCING ACTIVITIES |
219,823 |
(562,438) |
Payments |
(186,761) |
(614,816) |
Dividends |
(87,758) |
(264,661) |
Subordinated liabilities |
(40,000) |
(297,250) |
Redemption of own equity instruments |
- |
- |
Acquisition of own equity instruments |
(59,003) |
(52,905) |
Other payments related to financing activities |
- |
- |
Proceeds |
406,584 |
52,378 |
Subordinated liabilities |
350,000 |
- |
Issuance of own equity instruments |
- |
- |
Disposal of own equity instruments |
56,584 |
52,378 |
Other proceeds related to financing activities |
- |
- |
D) EFFECT OF EXCHANGE RATE CHANGES |
- |
- |
E) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C+D) |
8,637,271 |
903,618 |
F) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD |
6,407,046 |
5,503,428 |
G) CASH AND CASH EQUIVALENTS AT END OF PERIOD |
15,044,317 |
6,407,046 |
Of which: Interest received |
1,413,935 |
1,375,623 |
Of which: Interest paid |
168,193 |
223,699 |
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