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Financial highlights(1)



  Euro million
  30 June 23 30 June 22 (restated) Chg. %
23/22
       

Balance sheet

      
   Total assets 90,950 96,022 (5.3%)
   Equity 6,577 6,240 5.4%
   Loans to Customers (net) 56,336 57,039 (1.2%)
   Total customer funds 92,453 91,070 1.5%
   Balance sheet total customer funds 76,733 74,546 2.9%
   Deposits and other resources from Customers 75,355 73,190 3.0%
   Loans to Customers (net) / Deposits and other resources from Customers (2) 75% 78%  
   Loans to Customers (net) / Balance sheet customer funds 73% 77%  
       

Results

      
   Net interest income 1,374 985 39.5%
   Net operating revenues 1,844 1,273 44.9%
   Operating costs 562 516 8.8%
   Operating costs excluding specific items(3) 550 511 7.7%
   Results on modification (12) (2) <-200%
   Loan impairment charges (net of recoveries) 146 179 (18.9%)
   Other impairment and provisions 403 372 8.3%
   Income taxes 246 156 57.9%
   Net income 423 62 >200%
       

Profitability and Efficiency

     
   Net operating revenues / Average net assets (2) 4.1% 2.7%  
   Return on average assets (ROA) 1.1% 0.1%  
   Income before tax and non-controlling interests / Average net assets (2) 1.6% 0.4%  
   Return on average equity (ROE) 16.8% 2.4%  
   Income before tax and non-controlling interests / Average equity (2) 24.6% 6.7%  
   Net interest margin 3.34% 2.29%  
   Cost to core income (2)(3) 31.2% 37.2%  
   Cost to income (2) 30.4% 40.6%  
   Cost to income (2)(3) 32.0% 40.1%  
   Cost to income (Activity in Portugal) (2)(3) 31.0% 39.5%  
   Staff costs / Net operating revenues (2)(3) 17.3% 21.9%  
       

Credit quality

      
   Cost of risk (net of recoveries. in b.p.) 50 61  
   Non-Performing Exposures / Loans to Customers 3.7% 4.3%  
   Total impairment (balance sheet) / NPE (loans to Customers) 73.6% 64.5%  
   Restructured loans / Loans to Customers 3.2% 3.6%  
       

Liquidity

      
   Liquidity Coverage Ratio (LCR) 214% 261%  
   Net Stable Funding Ratio (NSFR) 155% 153%  
       

Capital (4)

      
   Common equity tier I phased-in ratio 14.0% 11.5%  
   Common equity tier I fully implemented ratio 14.0% 11.3%  
   Total ratio fully implemented 18.3% 15.3%  
       

Branches

      
   Activity in Portugal 402 415 (3.1%)
   International activity 817 832 (1.8%)
       

Employees

      
   Activity in Portugal 6,256 6,254 -%
   International activity(5) 9,393 9,413 (0.2%)


(1) Some indicators are presented according to management criteria of the Group, which concepts are described and detailed at the glossary and at alternative performance measures chapter, being reconciled with the accounting values in the respective chapters.
(2) According to Instruction no. 16/2004 from the Bank of Portugal, as the existing version as of 30 June 2023.
(3) Excludes specific items: positive impact of 115 million euros, recognised in the 1st half of 2023, including income of 127 million euros in the international activity, related to the sale of 80% of the shares in Millennium Financial Services sp. z o.o. (118 million euros recognised as net trading income and 9 million euros recognised as other net operating income) and costs of 12 million euros recognised as staff costs in the activity in Portugal ((i) costs related to the compensation for the temporary adjustment of remuneration in the period 2014/2017; (ii) costs with mortgage financing to former employees and (iii) income recognised after an agreement related to liabilities with former directors of the Bank). In the 1st half of 2022 the impact was negative in the amount of 6 million euros, mainly related to the compensation for the temporary adjustment of remuneration in the period 2014/2017.
(4) Presented figures include the cumulate net results of the respective periods.
(5) Of which, in Poland: 6,869 employees as at 30 June 2023 (corresponding to 6,746 FTE - Full-time equivalent) and 6,871 employees as at 30 June 2022 (corresponding to 6,735 FTE - Full-time equivalent). As of 30 June 2022, the number of employees associated with the international activity includes 3 employees of Cayman, non-existent as of 30 June 2023, since the operation was liquidated in 2022.​​​