{"id":38570,"date":"2021-03-22T00:00:00","date_gmt":"2021-03-21T23:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/notas-de-prensa\/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\/"},"modified":"2026-04-09T12:38:28","modified_gmt":"2026-04-09T10:38:28","slug":"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","status":"publish","type":"notas-de-prensa","link":"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/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\/","title":{"rendered":"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"},"content":{"rendered":"<ul>\n<li>The CET1 <em>fully loaded<\/em> solvency ratio stands at 11.86%, with an increase of 40 basis points<\/li>\n<li>The non-performing loan ratio decreases to 3.6% and coverage rises to 75% of non-performing assets<\/li>\n<li>Operating expenses decrease by 11.9% and improve the efficiency ratio to 48.9%<\/li>\n<\/ul>\n<p><strong> <\/strong><strong>CONSOLIDATED INCOME STATEMENT<\/strong><\/p>\n<p>Spanish banks registered losses of 6.955 billion euros in 2020 after strengthening their balance sheets with extraordinary provisions and write-offs totaling 12 billion euros to cope with the economic effects of the health crisis caused by the coronavirus.<\/p>\n<p>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.<\/p>\n<p>Gross margin decreased by 11.2% compared to 2019 due to the combined effect of sustained low interest rates, exchange rate differentials, and reduced activity as a consequence of the pandemic, which negatively impacted both the financial margin and net commission income.<\/p>\n<p>Operating expenses significantly decreased by 11.9% year-on-year, with an improvement of 23 basis points. This positive evolution of expenses allowed the efficiency ratio to stand at 48.9%, compared to 49.3% a year earlier. <\/p>\n<p>During 2020, provisions for insolvencies and write-offs were made, totaling over 35 billion euros, of which more than 12 billion were extraordinary, in anticipation of the potential consequences of the crisis on future asset quality.<\/p>\n<p>This effort in provisions and write-offs, together with lower extraordinary results and higher tax expenses, explains the losses of 6.955 billion euros recorded at year-end, compared to the 11.547 billion euros in profits obtained in 2019.<\/p>\n<p><strong>CONSOLIDATED BALANCE SHEET<\/strong><\/p>\n<p>The aggregate of consolidated balance sheets amounted to 2.7 trillion euros at the close of fiscal year 2020, an increase of 2.4% compared to December of the previous year.<\/p>\n<p>Customer loans, affected by the exchange rate, decreased by more than 5% year-on-year, with a non-performing loan ratio that fell to 3.64%, compared to 3.71% a year earlier. The coverage ratio increased, as a result of the high provisions made during the year, to 75% of non-performing assets, which is 7 percentage points higher than at the close of the previous year. <\/p>\n<p>Customer deposits remained at similar levels to those in December 2019, placing the loan-to-deposit ratio at 103%, compared to 109% a year earlier.<\/p>\n<p>Net equity was negatively affected by the year&#8217;s losses, decreasing by 12% year-on-year, although this effect was not transferred to the solvency ratio, which stood at 11.86% as of December 31 in terms of fully loaded Common Equity Tier 1 (CET1 <em>fully loaded<\/em>), 40 basis points higher than at the close of fiscal year 2019.<\/p>\n<p><a href=\"https:\/\/aebanca.es\/wp-content\/uploads\/2021\/03\/nota-de-prensa-sobre-los-resultados-de-los-bancos-espaoles-a-diciembre-2020-1.pdf\">Download the press release and the results table<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"featured_media":36541,"parent":0,"template":"","etiquetas-prensa":[907],"class_list":["post-38570","notas-de-prensa","type-notas-de-prensa","status-publish","has-post-thumbnail","hentry","etiquetas-prensa-aeb-results-spanish-banking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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