{"id":38650,"date":"2015-09-11T00:00:00","date_gmt":"2015-09-10T22:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/notas-de-prensa\/the-attributed-profit-of-spanish-banks-amounted-to-8072-million-in-the-first-half-of-2015\/"},"modified":"2026-04-09T09:40:52","modified_gmt":"2026-04-09T07:40:52","slug":"the-attributed-profit-of-spanish-banks-amounted-to-8072-million-in-the-first-half-of-2015","status":"publish","type":"notas-de-prensa","link":"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/the-attributed-profit-of-spanish-banks-amounted-to-8072-million-in-the-first-half-of-2015\/","title":{"rendered":"The attributed profit of Spanish banks amounted to 8,072 million in the first half of 2015"},"content":{"rendered":"

COMMON EQUITY TIER 1 (CET1) CAPITAL INCREASED BY 110 BASIS POINTS AND REPRESENTS 12.3% OF RISK-WEIGHTED ASSETS <\/strong><\/p>\n

EFFICIENCY GAINS CONTINUE. OPERATING EXPENSES AS A PERCENTAGE OF AVERAGE TOTAL ASSETS IMPROVED BY 6 BASIS POINTS, REACHING LEVELS VERY CLOSE TO THOSE PRIOR TO THE CRISIS. <\/strong><\/p>\n

PROVISIONING EFFORTS ARE MAINTAINED AND COVERAGE OF DOUBTFUL ASSETS EXPANDS TO REACH 62% OF ATA <\/strong><\/p>\n

NEW LENDING OPERATIONS ARE GROWING AT ANNUAL RATES OF 13% FOR SMES, 16% FOR CONSUMER LOANS, AND 19% FOR HOUSING <\/strong><\/p>\n

BUSINESS MARGINS<\/strong>: In terms of return on average total assets (ATA), the most recurrent margins of the consolidated profit and loss account recorded during the first half of 2015 remained at levels similar to those of the same period in 2014.<\/p>\n

GROSS MARGIN: <\/strong>The gross margin, which includes all income and costs from typical financial activity, gained one basis point in profitability (3.35% of ATA) and its amount reached 41,916 million, 11% more than a year earlier, in line with the growth of the average balance sheet. This figure is not entirely comparable with the gross margin of the previous year, since as of June 2015, the accrued contributions to the Deposit Guarantee Fund corresponding to the elapsed semester were not included as had been done until now. According to the new accounting standard, from now on, this annual contribution will be recorded in a single entry at the end of each financial year. <\/p>\n

NET INTEREST INCOME: <\/strong>Net interest income represents 2.21% of ATA, four basis points and 3,154 million more than a year earlier; this growth has offset the 2,100 million decrease in results from financial operations. Net fee and commission income grew below the average balance sheet at an annual rate of 6.3%, while better results from exchange differences and other net operating results contributed significantly to the aforementioned evolution of the gross margin. <\/p>\n

OPERATING EXPENSES<\/strong>: The evolution of operating expenses once again allowed Spanish banks to improve their efficiency, in line with their performance in recent quarters and, in particular, in the second quarter of 2015, in which the efficiency ratio before provisions stood at 45.3%, a level very close to those existing before the crisis. Operating expenses represented 1.55% of ATA, 6 basis points less than in June 2014, while the efficiency ratio improved by two percentage points (46.4%). <\/p>\n

PROVISIONS AND EXTRAORDINARY RESULTS<\/strong>: The effort in allocations and provisions remained at high levels, 0.91% of ATA, although 14 basis points lower than in 2014, due to the decrease in non-performing loans and the extraordinary nature of some of the allocations made in 2014, in line with the high, also atypical, results recorded in that period.<\/p>\n

ATTRIBUTED PROFIT<\/strong>: With a volume of extraordinary and atypical results significantly lower than that of the previous year, the attributed profit as of June 30, 2015, rose to 8,072 million euros, an increase of 17.2% compared to the first half of 2014. Return on average total assets thus stood at 0.64%, three basis points more than a year earlier, while ROE reached 8.68%, half a percentage point higher than in June 2014. <\/p>\n

BALANCE SHEET EVOLUTION<\/strong>: As of June 30, the final balance of the consolidated balance sheet of Spanish banking groups amounted to 2.5 trillion euros, with a year-on-year increase of 8.6% which, in part, was due to the increase in the scope of consolidation following recent acquisitions made by AEB member banks. The volume of loans and customer deposits increased by nearly 8% at an annual rate, and the loan-to-deposit ratio remained at 112%. <\/p>\n

NON-PERFORMING LOANS<\/strong>: The decline in the non-performing loan rate continued, recording a drop of more than one percentage point in the last twelve months. As of June 2015, doubtful assets represented 6.7% of credit, compared to 7.9% a year earlier. The coverage level rose to 62% of doubtful assets, four percentage points above that recorded in June 2014. <\/p>\n

EQUITY<\/strong>: Equity grew at a year-on-year rate of 10%, driven mainly by the capitalization of earnings and capital increases carried out by the banks. Its balance of 191,629 million euros represents 7.5% of the total consolidated balance sheet. The solvency ratio, under Basel III criteria, stood at 14.2% of risk-weighted assets, compared to 12.9% a year earlier, with a level of highest quality capital, measured in terms of CET1, of 12.3%, 110 basis points higher than in June 2014. <\/p>\n

INDIVIDUAL FINANCIAL STATEMENTS <\/strong><\/p>\n

BUSINESS MARGINS<\/strong>: In the case of individual statements, the gross margin stood slightly below 16,000 million, with an annual decrease of 3.2%, which can be attributed to the lower results from financial operations achieved in this first half. Conversely, net interest income experienced an increase of 10.4% and gained 5 basis points in profitability over ATA, supported, above all, by the reduction in financial costs. <\/p>\n

PROFIT FOR THE YEAR<\/strong>: The containment of operating expenses (four percentage points less over ATA), lower allocations and provisions made, and lower losses on sales of non-current assets contributed to the profit of Spanish banks in this first half of 2015 reaching 3,947 million, an increase of 27.8% compared to June 2014. Profitability over ATA improved by 10 basis points to 0.54%. <\/p>\n

BALANCE SHEET<\/strong>: The aggregate of the individual balance sheets of Spanish banks increased by 38,000 million in the last 12 months to total 1.45 trillion euros as of June 30, 2015, 2.69% higher. The balance of loans and customer deposits decreased by around 3% annually, while the ratio between both figures remains close to 106%. Credit delinquency has been considerably reduced to 11.5%, compared to 13.7% a year earlier, with coverage maintained at 59%. The volume of new credit operations granted to SMEs has grown at annual rates of 13%, while consumer loans have increased by 16% and those granted to families for housing acquisition have done so by nearly 19%. <\/p>\n

EQUITY<\/strong>: As with the consolidated statements, the equity of Spanish banks reflected in their individual statements increased by 10% in the last twelve months to nearly reach 143,000 million. Equity now represents 9.8% of the total balance sheet, more than half a percentage point higher than at the close of the first half of 2014. <\/p>\n

Download press release<\/a><\/h6>\n","protected":false},"excerpt":{"rendered":"

Operating expenses over average total assets improved by 6 basis points, reaching levels very close to those existing before the crisis<\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","etiquetas-prensa":[868,918,805],"class_list":["post-38650","notas-de-prensa","type-notas-de-prensa","status-publish","hentry","etiquetas-prensa-credit","etiquetas-prensa-deposits","etiquetas-prensa-results"],"yoast_head":"\nThe attributed profit of Spanish banks amounted to 8,072 million in the first half of 2015 - Asociaci\u00f3n Espa\u00f1ola de Banca<\/title>\n<meta name=\"description\" content=\"Operating expenses over average total assets improved by 6 basis points, reaching levels very close to those existing before the crisis\" \/>\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\/the-attributed-profit-of-spanish-banks-amounted-to-8072-million-in-the-first-half-of-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The attributed profit of Spanish banks amounted to 8,072 million in the first half of 2015 - 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