{"id":38599,"date":"2018-07-04T00:00:00","date_gmt":"2018-07-03T22:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/notas-de-prensa\/spanish-banks-post-profits-of-e3993-million-through-march-up-15-3\/"},"modified":"2026-04-09T09:39:46","modified_gmt":"2026-04-09T07:39:46","slug":"spanish-banks-post-profits-of-e3993-million-through-march-up-15-3","status":"publish","type":"notas-de-prensa","link":"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/spanish-banks-post-profits-of-e3993-million-through-march-up-15-3\/","title":{"rendered":"Spanish banks post profits of \u20ac3,993 million through March, up 15.3%"},"content":{"rendered":"

Consolidated income statement<\/strong><\/p>\n

Spanish banks recorded attributable profit of \u20ac3,993 million in the first quarter of 2018, representing an increase of 15.3% compared with the same period of the previous year. Lower provisioning needs and reduced expenses drove this growth. <\/p>\n

In a scenario of very low, even negative, official interest rates in Europe and with an average balance sheet 2.7% lower than a year earlier, net interest income stood at \u20ac14,449 million in the first three months of 2018, a year-on-year decrease of 2.4%.<\/p>\n

Lower gains on financial transactions and foreign exchange differences, around \u20ac530 million, were almost entirely offset by higher net fee and commission income and income from other operating results. As a result, gross income remained above \u20ac21,000 million through March, down 3.2%. <\/p>\n

<\/p>\n

Operating expenses posted a slight year-on-year reduction of 0.8%, bringing the cost-to-income ratio to 49%, one percentage point higher than in the first quarter of the previous year. Loan-loss provisions, affected by the significant write-downs recorded by one institution in the first three months of 2017, fell by \u20ac1,146 million through March, a decrease of 22%. <\/p>\n

Following a 17.6% increase in recognised income tax expense, profit for the period rose to \u20ac4,662 million, representing a return on average assets (ROA) of 0.74%, up seven basis points.<\/p>\n

Non-controlling interests, affected by extraordinary results recognised at the start of 2017, fell by 27%, bringing attributable profit to \u20ac3,993 million, up 15.3%. Return on equity (ROE) reached 7.97% and, despite a 1.9% annual increase in average equity, exceeded the ratio a year earlier by 92 basis points. <\/p>\n

Consolidated balance sheet<\/strong><\/p>\n

The aggregate consolidated balance sheets of Spanish banks stood at \u20ac2.53 trillion as of March 31, 2018, a 3% reduction (\u20ac79,000 million) compared with the same period of the previous year.<\/p>\n

Among the main balance-sheet items, lending to customers fell by 3.6% to \u20ac1.48 trillion. The non-performing loan ratio declined by almost one percentage point to 4.6%, while the coverage ratio rose to 69% of doubtful assets, an increase of four percentage points. <\/p>\n

Customer deposits, amounting to \u20ac1.37 trillion, fell by 2.5%, bringing the loans-to-deposits ratio (LtD, loan to deposits ratio<\/em>) to 108%, compared with 110% a year earlier.<\/p>\n

The remaining main balance-sheet headings, especially those related to fixed-income securities, also declined, and funding taken from central banks and credit institutions fell significantly to \u20ac47,000 million, representing just 1.9% of total assets.<\/p>\n

Equity, affected by negative translation-difference reserves recognised in the second half of 2017 and, to a lesser extent, by the entry into force of IFRS 9, fell by 5.1%, but still accounts for 7.5% of total assets. The CET1 capital ratio stood at 11.3%, 53 basis points lower. <\/p>\n

Press release on Spanish banks\u2019 results through March 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lower provisioning needs and cost containment explain the profit performance of Spanish banks in the first quarter of 2018, achieved in a scenario of very low, even negative, interest rates in Europe.<\/p>\n","protected":false},"featured_media":36045,"parent":0,"template":"","etiquetas-prensa":[800,805,803],"class_list":["post-38599","notas-de-prensa","type-notas-de-prensa","status-publish","has-post-thumbnail","hentry","etiquetas-prensa-aeb","etiquetas-prensa-results","etiquetas-prensa-spanish-banking"],"yoast_head":"\nSpanish banks post profits of \u20ac3,993 million through March, up 15.3% - Asociaci\u00f3n Espa\u00f1ola de Banca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/spanish-banks-post-profits-of-e3993-million-through-march-up-15-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spanish banks post profits of \u20ac3,993 million through March, up 15.3% - 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