Bankinter Group's profit before tax amounted to 785 million euro in 2022, an improvement of 46.3% over the previous year. Net profit was 560.2 million euro, up 28.1%, from the previous year, even though results for 2021 still included four months of revenues from Línea Directa. Thus the goal of surpassing, in 2023, the profit levels obtained pre-pandemic and before the separation of Línea Directa has been achieved one year ahead of schedule.
The strength of the business is reflected in the Group's main ratios and indicators, which remain among the best in the sector at the European level.
Profitability. RoE (return on equity) was 12% at 31 December, compared to 9.6% a year earlier, excluding the extraordinary capital gain from Línea Directa. RoTE (return on tangible equity) was 12.7% and the efficiency ratio was 44% (40.5% in the case of Spain).
Capital adequacy. The highest quality capital (CET1 fully loaded) stood at 12% in 2022, well above the minimum requirement set for Bankinter by the European Central Bank for 2023, which is 7.726%, the same as for 2021
Non-performing loans. Despite the worsening macroeconomic environment, the non-performing loans ratio declined from 2.24% to 2.10% and coverage rose from 63.6% to 66.3%.
Liquidity. At the end of 2022, Bankinter displayed a negative customer funding gap, as it had a higher volume of deposits than loans (in a ratio of 102.8%), and it has no wholesale issues maturing in 2023.
Share price. Bankinter's share price also performed well, gaining 39% during the year and leaving a total shareholder return, including dividends, of 45%.
Loans The Group's total assets at 31 December were similar to those a year earlier: 107.507 billion euro. Lending to customers grew by 9.1% to 74.24 billion euros, reflecting the commercial strength of the Bank and its willingness to continue supporting household and business financing projects in a challenging environment.
Considering only data for Spain, loans and receivables increased by 5.3%, six times higher than the average for the sector, according to figures released in November by Banco de España. Growth was even stronger in other areas: 15% in Portugal, while Ireland doubled its loan portfolio.
Retail funds. They rose to 75.16 billion euros by the end of 2022, up 3.7%, in an environment of high competition among institutions. Off-balance sheet managed funds fell by 9.4%, mainly due to the poor performance of bond and equity markets, which impacted asset valuations. However, Bankinter Asset Management's investment fund assets rose by 3.3%.
All operating margins improved significantly compared to the previous year, as a result of the favourable changes in interest rates and the Bank's increased commercial drive, which translated into higher volumes, especially in loans and receivables.
Net interest income. By the end of 2022, it had risen to 1.54 billion euro, a 20.5% higher than in 2021, closing an excellent quarter, the best in recent years.
Gross operating income. By 31 December, it had surpassed for the first time the 2 billion euro mark (rising to 2.0843 billion euro), a 12.3% above the figures for 2021.
Operating profit. t reached 1.1663 billion euro before provisions, 16.4% more than in the previous year. Operating costs grew by 7.6% due to investments in new projects and increased staff remuneration to meet them. Regulatory costs rose 140 million euro (compared to 124 million in 2021), representing 7% of the gross operating income.
A strategic focus that is consistent over time and well defined, a solid reputation and increased commercial activity across the bank's network fed through to strong growth in all business lines, products and geographies.
Corporate. The unit contributed 33% of the Bank's gross operating income, with a 9.3% increase in loans and receivables and a 28% rise in new business. Corporate loans and receivables in Spain rose by 8.2%, far in excess of the 1.8% for the sector up to November, with the Bank continuing to gain market share.
Supporting companies in their foreign operations, with new services and increasingly specialised teams, helped drive a 25% increase in international business, to 8 billion euro
Supporting companies in their foreign operations, with new services and increasingly specialised teams, helped drive a 25% increase in international business, to 8 billion euro.
Commercial Retail Banking. Growth in assets under management was particularly strong. Wealth Management amounted to 51.1 billion euro, compared to 49.9 billion in 2021, despite the effects caused by the performance of the markets, which impacted the value of these assets by around 3.3 billion euro. Bankinter secured over 4 billion euro of new assets under management during the year. Managed assets in Retail Banking increased by 1.7 billion euro, to 41.4 billion, sustaining a negative effect from market performance of 1.5 billion euro. Net new assets raised in this area totalled 3.4 billion euro.
The salary account, the only one of its kind and that has kept its advantageous conditions since its launch more than ten years ago, continues to be the main product attracting Commercial Retail Banking customers. At 31 December 2022, the salary account portfolio totalled 16.7 billion euro, 2.4 times the volume five years ago.
The mortgage portfolio totalled 33.7 billion euro. It grew by 2.8% in Spain, compared to a sector average of 0.4% (figures up to November). New mortgages including all geographies and EVO totalled 6.7 billion euro in 2022, up 13% from 2021, representing 6.7% market share in new transactions.
Investment Banking. The Bankinter Investment subsidiary has launched 19 investment vehicles to date, with over 4 billion euro of capital committed by investors. This business, which generated gross operating income of 154 million euros in 2022, will embark on a new path of growth in 2023 through the new alternative investment manager, which will provide access to these assets for retail customers.
Bankinter Portugal. The volume of business under management has grown non-stop since the bank opened its subsidiary in the country. On- and offbalance sheet funds and loans amounted to 18.2 billion euro in 2022, compared to 11.4 billion euro in 2017. Loans rose by 15%, to 8 billion euro, and customer funds were up 9%, at 6.4 billion euro. Net interest income increased by 35%, while gross operating income grew by 25% and pre-provision profit by 47%. This resulted in pre-tax profit of 78 million euro (+54%).
Ireland. Mortgage activity performed excellently, with its strong results being reflected in gross operating income. Loans and receivables at Avant Money, the brand under which Bankinter operates in Ireland, reached 2.3 billion euro in 2022, up 132% from 2021. Of this amount, 1.6 billion euro corresponded to mortgages, triple the figure one year earlier, with an NPL ratio of barely 0.4%. Avant Money reported gross operating income of 80 million euros in 2022, 34% higher than in 2021.
Bankinter Consumer Finance. The Bank's subsidiary, which consolidates figures for Ireland, performed equally positively. Loans and receivables stood at yearend at 5.5 billion euro, of which 1.6 billion euro related to mortgages in Ireland and the remainder to the consumer business, of which 2.6 billion related to loans and the rest to the various types of bank cards.
The figures for loans are a testament to the acceptance of the subsidiary's new strategy by digital customers. Mortgages arranged in the year amounted to 984 million euro, 35% more than in 2021. Of these, 98% were at fixed rates, thanks to one of the market's most competitive offers. The balance of loans and receivables stood at 2.7 billion euro, up 45%. Gross operating income for this business was 37 million euro (+55%).
ASSETS | 31 December 2022 | 31 December 2021(*) |
---|---|---|
Cash, cash balances at central banks and other demand deposits | 13,351,217 | 22,373,090 |
Financial assets held for trading | 4,055,770 | 4,038,256 |
Derivatives | 1,181,732 | 342,071 |
Equity instruments | 164,756 | 197,862 |
Debt securities | 974,684 | 1,246,748 |
Loans and advances | 1,734,598 | 2,251,575 |
Central banks | - | - |
Credit institutions | 1,320,483 | 2,251,575 |
Customers | 414,115 | - |
Memorandum items: loaned or pledged | 524,832 | 667,722 |
Non-trading financial assets mandatorily at fair value through profit or loss | 161,397 | 131,316 |
Equity instruments | 160,047 | 130,328 |
Debt securities | 884 | 738 |
Loans and advances | 466 | 250 |
Central banks | - | - |
Credit institutions | - | - |
Customers | 466 | 250 |
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 | 2,810,920 | 2,751,517 |
Equity instruments | 195,617 | 304,893 |
Debt securities | 2,615,303 | 2,446,624 |
Loans and advances | - | - |
Central banks | - | - |
Credit institutions | - | - |
Customers | - | - |
Memorandum items: loaned or pledged | 618,859 | 868,516 |
Financial assets at amortised cost | 84,862,782 | 76,285,363 |
Debt securities | 9,352,619 | 7,595,987 |
Loans and advances | 75,510,163 | 68,689,376 |
Central banks | - | - |
Credit institutions | 3,758,565 | 2,407,309 |
Customers | 71,751,598 | 66,282,067 |
Memorandum items: loaned or pledged | 9,285,766 | 7,095,267 |
Derivatives - hedge accounting | 1,128,474 | 170,077 |
Fair value changes of the hedged items in portfolio hedge of interest rate risk | (648,517) | 46,124 |
Investments in joint ventures and associates | 178,203 | 169,971 |
Joint ventures | 118,243 | 91,329 |
Associates | 59,960 | 78,642 |
Assets under reinsurance and insurance contracts | - | - |
Tangible assets | 447,853 | 450,436 |
Property, plant and equipment | 447,853 | 450,436 |
For own use | 438,915 | 441,728 |
Leased out under an operating lease | 8,938 | 8,708 |
Assigned to welfare projects (savings banks and credit cooperatives) | - | - |
Investment property | - | - |
Of which: Leased out under operating leases | - | - |
Memorandum items: Acquired under finance leases | 135,048 | 130,740 |
Intangible assets | 278,940 | 269,685 |
Goodwill | 2,276 | 2,276 |
Other intangible assets | 276,664 | 267,409 |
Tax assets | 460,241 | 638,444 |
Current tax assets | 195,412 | 364,636 |
Deferred tax assets | 264,829 | 273,808 |
Other assets | 156,758 | 153,645 |
Insurance contracts linked to pensions | - | - |
Inventories | - | - |
Other assets | 156,758 | 153,645 |
Non-current assets and disposal groups classified as held for sale | 262,994 | 106,184 |
TOTAL ASSETS | 107,507,032 | 107,584,108 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated balance sheet as at 31 December 2022.
(*) Presented for comparison purposes only.
EQUITY AND LIABILITIES | 31 December 2022 | 31 December 2021(*) |
---|---|---|
LIABILITIES | 102,602,060 | 102,731,948 |
Financial liabilities held for trading | 3,347,198 | 3,696,496 |
Derivatives | 1,140,068 | 438,795 |
Short positions | 918,983 | 1,472,331 |
Deposits | 1,288,147 | 1,785,370 |
Central banks | - | - |
Credit institutions | - | 245,677 |
Customers | 1,288,147 | 1,539,693 |
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 | 97,817,081 | 97,809,974 |
Deposits | 87,965,731 | 87,995,644 |
Central banks | 11,699,869 | 14,190,714 |
Credit institutions | 3,363,826 | 3,026,174 |
Customers | 72,902,036 | 70,778,756 |
Debt securities issued | 6,433,093 | 7,689,865 |
Other financial liabilities | 3,418,257 | 2,124,465 |
Memorandum items: subordinated liabilities | 1,080,928 | 1,693,190 |
Derivatives - hedge accounting | 625,125 | 275,264 |
Fair value changes of the hedged items in portfolio hedge of interest rate risk | (203,914) | 1,957 |
Liabilities under reinsurance and insurance contracts | - | - |
Provisions | 376,159 | 419,911 |
Pensions and other post-employment defined benefit obligations | 1,293 | 1,669 |
Other long-term employee benefits | - | - |
Pending legal issues and tax litigation | 122,755 | 136,609 |
Commitments and guarantees given | 39,143 | 38,216 |
Other provisions | 212,968 | 243,417 |
Tax liabilities | 291,132 | 254,543 |
Current tax liabilities | 231,932 | 139,054 |
Deferred tax liabilities | 59,200 | 115,489 |
Share capital repayable on demand | - | - |
Other liabilities | 349,279 | 273,803 |
Of which: welfare fund (savings banks and credit cooperatives only) | - | - |
Liabilities included in disposal groups classified as held-for-sale | - | - |
TOTAL LIABILITIES | 102,602,060 | 102,731,948 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated balance sheet as at 31 December 2022.
(*) Presented for comparison purposes only.
LIABILITIES AND EQUITY (continued) | 31 December 2022 | 31 December 2021(*) |
---|---|---|
Shareholders' equity | 5,034,000 | 4,736,621 |
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 | - | - |
Equity instruments issued other than share capital | - | - |
a) Equity component of compound financial instruments | - | - |
b) Other equity instruments issued | - | - |
Other equity | 11,905 | 6,163 |
Retained earnings | 4,406,753 | 3,306,854 |
Revaluation reserves | - | - |
Other reserves | (13,290) | (12,093) |
Reserves or accumulated losses of investments in joint ventures and associates | (13,290) | (12,093) |
Other | - | - |
(-) Treasury shares | (1,393) | (1,025) |
RProfit or loss attributable to owners of the parent | 560,203 | 1,333,108 |
(-) Interim dividends | (199,838) | (166,046) |
Accumulated other comprehensive income | (129,028) | 115,539 |
Items that will not be reclassified to profit or loss | (47,171) | 57,602 |
a) Actuarial gains or (-) losses on defined benefit pension plans | 6,135 | 3,272 |
b) Non-current assets and disposal groups classified as held for sale | - | - |
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 | (53,306) | 54,330 |
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 through 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 | (81,857) | 57,937 |
a) Hedge of net investments in foreign operations [effective portion] | - | - |
b) Foreign currency translation | - | - |
c) Hedging derivatives. Cash flow hedges [effective portion] | 4,434 | (452) |
d) Fair value changes of debt instruments measured at fair value through other comprehensive income | (71,776) | 53,951 |
e) Hedging instruments [not designated elements] | - | - |
f) Non-current assets and disposal groups classified as held for sale | - | - |
g) Share of other recognised income and expense of investments in joint ventures and associates | (14,515) | 4,438 |
Minority interests [Non-controlling interests] | - | - |
Accumulated other comprehensive income | - | - |
Other items | - | - |
TOTAL EQUITY | 4,904,972 | 4,852,160 |
TOTAL EQUITY AND LIABILITIES | 107,507,032 | 107,584,108 |
MEMORANDUM ITEMS: OFF-BALANCE-SHEET EXPOSURES | ||
Loan commitments given | 16,370,121 | 15,963,920 |
Financial guarantees given | 1,976,956 | 1,676,285 |
Other commitments given | 9,682,797 | 8,405,185 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated balance sheet as at 31 December 2022.
(*) Presented for comparison purposes only.
(Debit)/Credit | (Debit)/Credit | |
---|---|---|
31 December 2022 | 31 December 2021(*) | |
Interest income | 1,767,606 | 1,446,347 |
Financial assets at fair value through other comprehensive income | 50,749 | 58,164 |
Financial assets at amortised cost | 1,650,888 | 1,273,523 |
Other interest income | 65,969 | 114,660 |
Interest expenses | (230,884) | (171,069) |
Expenses on share capital repayable on demand | - | - |
A) NET INTEREST INCOME | 1,536,722 | 1,275,278 |
Dividend income | 17,960 | 20,611 |
Share of the profit or loss of entities accounted for using the equity method | 36,600 | 33,368 |
Fee and commission income | 789,379 | 787,772 |
Fee and commission expenses | (183,287) | (184,313) |
Gains or losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net | 38,182 | 36,073 |
Financial assets at amortised cost | 34,403 | 32,134 |
Other financial assets and liabilities | 3,779 | 3,939 |
Gains or losses on financial assets and liabilities held for trading, net | 26,251 | 16,559 |
Reclassification of financial assets out of fair value through other comprehensive income | - | - |
Reclassification of financial assets out of amortised cost | - | - |
Other gains or losses | 26,251 | 16,559 |
Ganancias o pérdidas por activos financieros no destinados a negociación valorados obligatoriamente a valor razonable con cambios en resultados, netas | 14,079 | 19,401 |
Reclassification of financial assets out of fair value through other comprehensive income | - | - |
Reclassification of financial assets out of amortised cost | - | - |
Other gains or losses | 14,079 | 19,401 |
Gains or losses on financial assets and liabilities designated at fair value through profit or loss, net | - | - |
Gains or losses from hedge accounting, net | (109) | 12 |
Exchange differences [gain or loss], net | (7,611) | 2,254 |
Other operating income | 30,734 | 28,556 |
Other operating expenses | (214,598) | (180,244) |
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 | 2,084,302 | 1,855,327 |
Administrative expenses | (837,950) | (775,417) |
a) Staff expenses | (508,859) | (472,786) |
b) Other administrative expenses | (329,091) | (302,631) |
Depreciation and amortisation | (80,088) | (77,787) |
Provisions or reversal or provisions | (107,017) | (182,835) |
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 | (253,018) | (263,071) |
a) Financial assets at fair value through other comprehensive income | (80) | 166 |
b) Financial assets at amortised cost | (252,938) | (263,237) |
Impairment or reversal of impairment of investments in joint ventures and associates | - | - |
Impairment or reversal of impairment on non-financial assets | (9,192) | (7,185) |
Tangible assets | (56) | (1,142) |
Intangible assets | (9,136) | (6,046) |
Other | - | 3 |
Gains or losses on derecognition of non-financial assets | (1,313) | (742) |
Negative goodwill recognised in profit or loss | - | - |
Profit or loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations | (10,687) | (11,581) |
C) PROFIT OR LOSS BEFORE TAX FROM CONTINUING OPERATIONS | 785,037 | 536,709 |
Tax expense or income related to profit or loss from continuing operations | (224,834) | (139,276) |
D) PROFIT OR LOSS AFTER TAX FROM CONTINUING OPERATIONS | 560,203 | 397,433 |
Profit or loss after tax from discontinued operations | - | 935,675 |
E) PROFIT OR LOSS FOR THE PERIOD | 560,203 | 1,333,108 |
Attributable to minority interests (non-controlling interests) | - | - |
Attributable to the owners of the parent | 560,203 | 1,333,108 |
EARNINGS PER SHARE: | ||
Basic | 0.62 | 1.49 |
Diluted | 0.61 | 1.46 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated income statement for the year ended 31 December 2022.
(*) Presented for comparison purposes only.
31 December 2022 | 31 December 2021(*) | |
---|---|---|
A) PROFIT OR LOSS FOR THE PERIOD | 560,203 | 1,333,108 |
B) OTHER COMPREHENSIVE INCOME | (244,567) | (32,564) |
Items that will not be reclassified to profit or loss | (104,774) | 51,403 |
a) Actuarial gains or (-) losses on defined benefit pension plans | 4,060 | 6,029 |
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 | (109,276) | 52,875 |
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 | 442 | 2,066 |
Items that may be reclassified to profit or loss | (139,793) | (83,967) |
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] | 6,981 | 727 |
Valuation gains or (-) losses taken to equity | 6,981 | 727 |
Transferred to profit or loss | - | - |
Transferred to initial carrying amount of hedged items | - | - |
Other reclassification | - | - |
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 | (179,611) | (65,365) |
Valuation gains or (-) losses taken to equity | (177,545) | (61,544) |
Transferred to profit or loss | (2,066) | (3,821) |
Other reclassifications | - | - |
f) Non-current assets and disposal groups held for sale | - | (50,067) |
Valuation gains or (-) losses taken to equity | - | (50,067) |
Transferred to profit or loss | - | - |
Other reclassifications | - | - |
g) Share of other recognised income and expense of investments in joint ventures and associates | (18,952) | (1,166) |
h) Income tax relating to items that may be reclassified to profit or (-) loss | 51,789 | 31,904 |
C) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 315,636 | 1,300,544 |
Attributable to minority interests (non-controlling interests) | - | - |
Attributable to the owners of the parent | 315,636 | 1,300,544 |
Minority interests | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Share capital (Note 21) |
Share premium (Note 21) |
Equity instruments issued other than capital | Other equity | Retained earnings | Revaluation reserves (Note 21) |
Other reserves (Note 21) |
(-) Treasury shares (Note 21) |
Profit or loss attributable to owners of the parent | (-) Interim dividends (Note 21) |
Accumulated other comprehensive income (Note 22) |
Accumulated other comprehensive income | Other items | Total | |
Closing balance at 31/12/2021 | 269,660 | - | - | 6,163 | 3,306,854 | - | (12,093) | (1,025) | 1,333,108 | (166,046) | 115,539 | - | - | 4,852,160 |
Effects of correction of errors | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Effects of changes in accounting policies | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Opening balance 01/01/2022 | 269,660 | - | - | 6,163 | 3,306,854 | - | (12,093) | (1,025) | 1,333,108 | (166,046) | 115,539 | - | - | 4,852,160 |
Total comprehensive income for the period | - | - | - | - | - | - | - | - | 560,203 | - | (244,567) | - | - | 315,636 |
Other changes in equity | - | - | - | 5,742 | 1,099,899 | - | (1,197) | (368) | (1,333,108) | (33,792) | - | - | - | (262.824) |
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) | - | - | - | - | - | - | - | - | - | (252,480) | - | - | - | (252,480) |
Purchase of treasury shares | - | - | - | - | (145) | - | - | (84,469) | - | - | - | - | - | (84,614) |
Sale or cancellation of treasury shares | - | - | - | - | - | - | - | 84,101 | - | - | - | - | - | 84,101 |
Reclassification of financial instruments from equity to liability | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Reclassification of financial instruments from liabilities to equity | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Transfers between equity components | - | - | - | - | 1,114,420 | - | - | - | (1,333,108) | 218,688 | - | - | - | - |
Increases or (-) decreases in equity arising from business combinations | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Share-based payments | - | - | - | 5,742 | - | - | - | - | - | - | - | - | - | 5,742 |
Other increases or (-) decreases in equity | - | - | - | - | (14,376) | - | (1,197) | - | - | - | - | - | - | (15,573) |
Of which: discretionary transfer to welfare funds (only savings banks and credit cooperatives) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Closing balance at 12/31/2022 | 269,660 | - | - | 11,905 | 4,406,753 | - | (13,290) | (1,393) | 560,203 | (199,838) | (129,028) | - | - | 4,904,972 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated statement of total changes in equity for the year ended 31 December 2022
Minority interests | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Share capital (Note 21) |
Share premium (Note 21) |
Equity instruments issued other than capital | Other equity | Retained earnings | Revaluation reserves (Note 21) |
Other reserves (Note 21) |
(-) Treasury shares (Note 21) |
Profit or loss attributable to owners of the parent | (-) Interim dividends (Note 21) |
Accumulated other comprehensive income (Note 22) |
Accumulated other comprehensive income | Other items | Total | |
Closing balance at 12/31/2021 | 269,660 | 1,184,265 | - | 7,482 | 3,051,137 | 4,806 | (14,778) | (3,641) | 317,123 | - | 148,103 | - | - | 4,964,157 |
Effects of correction of errors | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Effects of changes in accounting policies | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Opening balance 01/01/2022 | 269,660 | 1,184,265 | - | 7,482 | 3,051,137 | 4,806 | (14,778) | (3,641) | 317,123 | - | 148,103 | - | - | 4,964,157 |
Total comprehensive income for the period | - | - | - | - | - | - | - | - | 1,333,108 | - | (32,564) | - | - | 1,300,544 |
Other changes in equity | - | (1,184,265) | - | (1,319) | 255,717 | (4,806) | 2,685 | 2,616 | (317,123) | (166,046) | - | - | - | (1,412,541) |
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) | - | (1,184,265) | - | - | - | - | - | - | - | (210,769) | - | - | - | (1,395,034) |
Purchase of treasury shares | - | - | - | - | 733 | - | - | (48,836) | - | - | - | - | - | (48,103) |
Sale or cancellation of treasury shares | - | - | - | - | - | - | - | 51,452 | - | - | - | - | - | 51,452 |
Reclassification of financial instruments from equity to liability | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Reclassification of financial instruments from liabilities to equity | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Transfers between equity components | - | - | - | - | 272,400 | - | - | - | (317,123) | 44,723 | - | - | - | - |
Increases or (-) decreases in equity arising from business combinations | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Share-based payments | - | - | - | (1,319) | - | - | - | - | - | - | - | - | - | (1,319) |
Other increases or (-) decreases in equity | - | - | - | - | (17,416) | (4,806) | 2,685 | - | - | - | - | - | - | (19,537) |
Of which: discretionary transfer to welfare funds (only savings banks and credit cooperatives) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Closing balance at 12/31/2022(*) | 269,660 | - | - | 6,163 | 3,306,854 | - | (12,093) | (1,025) | 1,333,108 | (166,046) | 115,539 | - | - | 4,852,160 |
(*) Presented for comparison purposes only.
12/31/2022 | 12/31/2021(*) | |
---|---|---|
A) CASH FLOWS FROM OPERATING ACTIVITIES | (8,034,976) | 7,050,834 |
Profit or loss for the period | 560,203 | 1,333,108 |
Adjustments to obtain cash flows from operating activities | 698,795 | (182,434) |
Depreciation and amortisation | 80,088 | 77,787 |
Other adjustments | 618,707 | (260,221) |
Net increase/(decrease) in operating assets | 9,405,758 | 5,615,322 |
Financial assets held for trading | 17,514 | 1,879,514 |
Non-trading financial assets mandatorily at fair value through profit or loss | 29,864 | 11,511 |
Financial assets designated at fair value through profit or loss | - | - |
Financial assets at fair value through other comprehensive income | 392,816 | (140,270) |
Financial assets at amortised cost | 8,182,913 | 3,599,962 |
Other operating assets | 782,651 | 264,605 |
Net increase/(decrease) in operating liabilities | 59,516 | 11,877,918 |
Financial liabilities held for trading | (349,298) | 2,314,196 |
Financial liabilities designated at fair value through profit or loss | - | - |
Financial liabilities at amortised cost | 295,483 | 9,971,341 |
Other operating liabilities | 113,331 | (407,619) |
Income tax recovered/(paid) | 52,268 | (362,436) |
B) CASH FLOWS FROM INVESTING ACTIVITIES | (234,051) | (63,908) |
Payments | (287,478) | (121,156) |
Tangible assets | (18,838) | (18,304) |
Intangible assets | (53,412) | (49,019) |
Investments in joint ventures and associates | - | - |
Subsidiaries and other business units | (27,081) | (53,833) |
Non-current assets and liabilities classified as held for sale | (188,147) | - |
Other payments related to investing activities | - | - |
Proceeds | 53,427 | 57,248 |
Tangible assets | 4,880 | 7,685 |
Intangible assets | 2,334 | - |
Investments in joint ventures and associates | 2,166 | - |
Subsidiaries and other business units | - | - |
Non-current assets and liabilities classified as held for sale | 44,047 | 49,563 |
Other proceeds related to investing activities | - | - |
C) CASH FLOWS FROM FINANCING ACTIVITIES | (752,846) | 341,847 |
Payments | (836,948) | (459,605) |
Dividends | (252,479) | (210,769) |
Subordinated liabilities | (500,000) | (200,000) |
Redemption of own equity instruments | - | - |
Acquisition of own equity instruments | (84,469) | (48,836) |
Other payments related to financing activities | - | - |
Proceeds | 84,102 | 801,452 |
Subordinated liabilities | - | 750,000 |
Issuance of own equity instruments | - | - |
Disposal of own equity instruments | 84,102 | 51,452 |
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) | (9,021,873) | 7,328,773 |
F) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 22,373,090 | 15,044,317 |
G) CASH AND CASH EQUIVALENTS AT END OF PERIOD | 13,351,217 | 22,373,090 |
Of which: Interest received | 1,692,647 | 1,317,773 |
Of which: Interest paid | 260,396 | 198,439 |
The accompanying notes 1 to 52 and annexes I through VI attached form an integral part of the consolidated statement of cash flows for the year ended 31 December 2022.
(*) Presented for comparison purposes only.
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