Spanish banks post profits of €11.156 billion through September
The effort in provisions and write-downs, which led to the 2020 losses, has been considerably reduced this year, bringing return on equity (ROE) to 7.2% in the third quarter.
Spanish Banks Report Profit of €3.17 Billion Through March
Spanish banks’ results return to pre-crisis normality in the first quarter of 2021, compared to losses of €1.125 billion in the same period of the previous year.
Spanish banks report losses of 6.955 billion euros in 2020 after strengthening their balance sheets with 12 billion euros to address the health crisis
The entirety of the negative results for the full year is attributable to the increased provisions and write-offs made during the first half of the year, while in the last two quarters, the aggregate result was 4.5 billion euros in profits.
Spanish banks strengthen their position with €30,000 million and reduce their losses to €8,390 million through September
Spanish banks recorded losses of €8,390 million during the first nine months of 2020. The positive results achieved in the third quarter of the year made it possible to reduce by €3,141 million the negative attributable result recorded through June.
Spanish banks strengthen their position in the face of COVID-19 with provisions and write-downs of €26.518 billion and record losses of €11.531 billion through June
The high volume of provisions and write-downs of intangible assets made to strengthen the position against the economic effects of the pandemic, totaling €17 billion more than in the previous year, account for the negative result for the half-year.
Spanish banks set aside €3.587 billion for COVID-19 and report a negative attributable result of €1.125 billion
The significant effort in provisions and write-downs, amounting to more than €5.6 billion, undertaken in the first quarter of 2020 to strengthen the balance sheet and mitigate the negative effects of the pandemic on households and businesses represents an increase of 160% compared with the same period of the previous year.
Spanish banks earn a profit of 11,904 million in 2019, down 18%
Higher provisions and intangible asset write-downs amounting to 4,000 million euros explain the decline in results. Net interest income, which reflects typical banking activity, maintained its growth path during this period, with a year-on-year increase of 2.6% that allowed it to exceed the 60,000 million euro threshold at the end of the fiscal year.
Spanish banks obtain a profit of 8,996 million until September, 19.7% less
Higher write-downs and one-off provisions made during the last two quarters and lower results from the sale of non-current assets explain the evolution of profit, despite the maintenance of the more recurring margins of the income statement. The improvement in net interest income and net fee income, with year-on-year increases of 4.1% and 3% respectively, have offset lower results from financial operations and other operating results.
Spanish banks posted profits of €6.779 billion through June, down 4.8%
The higher extraordinary provisions made in the second quarter and the lower results from financial transactions explain this performance, also marked by the containment of operating expenses. With average balance sheet growth of 2.7% year-on-year, net interest income maintained its upward trend and rose by 3.8% compared with June of the previous year, to exceed €30 billion.
Spanish banks obtain a profit of 3,538 million until March, 11.4% less
With limited balance sheet growth, the slight improvement in net interest income and the reduction in operating costs were not sufficient to offset the lower results obtained from financial operations.