Financial highlights(1)
| |
Euro million |
| |
31 Mar. 22 |
31 Mar. 21 |
Change 22/21 |
| |
|
|
|
Balance sheet |
|
|
|
| Total assets |
95,561 |
88,420 |
8.1% |
| Equity |
6,570 |
7,296 |
-10.0% |
| Loans to customers (net) |
56,656 |
54,199 |
4.5% |
| Total customer funds |
91,358 |
87,042 |
5.0% |
| Balance sheet total customer funds |
73,495 |
66,888 |
9.9% |
| Deposits and other resources from customers |
71,944 |
65,373 |
10.1% |
| Loans to customers (net) / Deposits and other resources from customers (2) |
78.7% |
82.9% |
|
| Loans to customers (net) / Balance sheet customer funds |
77.1% |
81.0% |
|
| |
|
|
|
Results |
|
|
|
| Net interest income |
465.1 |
374.8 |
24.1% |
| Net operating revenues |
700.7 |
577.9 |
21.2% |
| Operating costs |
255.0 |
252.1 |
1.1% |
| Operating costs excluding specific items(3) |
255.0 |
251.4 |
1.4% |
| Loan impairment charges (net of recoveries) |
89.9 |
111.0 |
-19.1% |
| Other impairment and provisions |
164.1 |
131.7 |
24.6% |
| Income taxes |
85.5 |
56.9 |
50.2% |
| Net income |
112.9 |
57.8 |
95.2% |
| |
|
|
|
Profitability and Efficiency |
|
|
|
| Net operating revenues / Average net assets (2) |
3.0% |
2.7% |
|
| Return on average assets (ROA) |
0.5% |
0.1% |
|
| Income before tax and non-controlling interests / Average net assets (2) |
0.8% |
0.4% |
|
| Return on average equity (ROE) |
8.2% |
4.0% |
|
| Income before tax and non-controlling interests / Average equity (2) |
12.1% |
5.0% |
|
| Net interest margin |
2.19% |
1.92% |
|
| Cost to core income (2)(3) |
38.8% |
46.1% |
|
| Cost to income (2) |
36.4% |
43.6% |
|
| Cost to income (2)(3) |
36.4% |
43.5% |
|
| Cost to income (Portugal activity) (2)(3) |
33.7% |
40.1% |
|
| Staff costs / Net operating revenues (2)(3) |
19.7% |
24.4% |
|
| |
|
|
|
Credit quality |
|
|
|
| Cost of risk (net of recoveries, in b.p.) |
62 |
80 |
|
| Non-Performing Exposures / Loans to customers |
4.6% |
5.5% |
|
| Total impairment (balance sheet) / NPE |
67.9% |
64.7% |
|
| Restructured loans / Loans to customers |
4.2% |
4.5% |
|
| |
|
|
|
Liquidity |
|
|
|
| Liquidity Coverage Ratio (LCR) |
283% |
270% |
|
| Net Stable Funding Ratio (NSFR) |
150% |
144% |
|
| |
|
|
|
Capital (4) |
|
|
|
| Common equity tier I phased-in ratio |
11.4% |
12.2% |
|
| Common equity tier I fully implemented ratio |
11.5% |
12.2% |
|
| Total fully implemented ratio |
15.5% |
15.5% |
|
| |
|
|
|
Branches |
|
|
|
| Portugal activity |
421 |
476 |
-11.6% |
| Foreign activity |
843 |
878 |
-4.0% |
| |
|
|
|
Employees |
|
|
|
| Portugal activity |
6,264 |
7,004 |
-10.6% |
| Foreign activity(5) |
9,480 |
10,064 |
-5.8% |
(1) Some indicators are presented according to management criteria of the Group, with concepts being described and detailed at the glossary. Following the sale of the entire share capital of Banque Privée BCP (Suisse) SA to Union Bancaire Privée, UBP SA and the sale of 70% of the investment held in Seguradora Internacional de Moçambique, S.A. ("SIM"), through its subsidiary BIM - Banco Internacional de Moçambique S.A., both in the fourth quarter of 2021, the contribution of these subsidiaries to the consolidated results of the Group, in the first quarter of 2021 is reflected as income from discontinued operations in the international activity, as defined in the IFRS 5. The accounting of assets and liabilities of Banque Privée BCP (Suisse) S.A. and of SIM was not changed compared to the criteria considered in the financial statements published in previous periods. In this context and taking into account the immateriality of the balance sheet balances of these operations in the Group, the calculation of the indicators relating the performance of the profit and loss account to the balance sheet items was not adjusted, with the exception of net interest margin, that reflects the fact that the assets of those subsidiaries were no longer considered interest earning assets in the period under analysis.
(2) According to Instruction from the Bank of Portugal no. 16/2004, as the currently existing version.
(3) Excludes specific items: negative impact of 0.7 million euros in the first quarter of 2021, fully recognized as staff costs in the activity in Portugal, related with costs arising from the adjustment of headcount.
(4) As at 31 March 2022 and 31 March 2021, capital ratios include the positive cumulative net income of each period. Ratios as of 31 March 2022 are estimated and non-audited.
(5) Of which, in Poland: 6,980 employees as at 31 March 2022 (corresponding to 6,842 FTE - Full-time equivalent) and 7,392 employees as at 31 March 2021 (corresponding to 7,238 FTE - Full-time equivalent).