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Financial Highlights

4Q16 figures

Operating income € 4,223 million
 
Operating profit  € 667 million
 
Net profit attributable to the Group € - 13,296 million
Cost/Income Ratio  64.50%

Common Equity Tier 1 Ratio fully loaded 7.54%
 
Loans and receivable with customers € 444,607 million

Deposits from customers € 567,855 million

Shareholders' equity € 39,336 million
 
Total Capital Ratio transitional 11.66%

 

Consolidated Balance Sheet

(€ million)

  4Q15 3Q16 4Q16 Y/Y% Q/Q%
ASSETS          
Cash and cash balances 9,611 15,582 13,858 +44.2% -11.1%
Financial assets held for trading 89,995 93,433 87,467 -2.8% -6.4%
Loans and receivables with banks 77,437 75,473 74,692 -3.5% -1.0%
Loans and receivables with customers 445,382 452,849 444,607 -0.2% -1.8%
Financial investments 147,634 148,859 149,004 +0.9% +0.1%
Hedging instruments 7,911 8,017 6,872 -13.1% -14.3%
Property, plant and equipment 9,673 9,220 9,092 -6.0% -1.4%
Goodwill 1,744 1,744 1,484 -14.9% -14.9%
Other intangible assets 1,908 1,885 1,708 -10.5% -9.4%
Tax assets 15,615 15,368 15,161 -2.9% -1.3%
Non-current assets and disposal groups classified as held for sale 44,576 43,540 45,854 +2.9% +5.3%
Other assets 8,948 8,557 9,735 +8.8% +13.8%
Total assets 860,433 874,527 859,533 -0.1% -1.7%
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks 110,333 113,838 103,852 -5.9% -8.8%
Deposits from customers  419,686 441,033 452,419 +7.8% +2.6%
Debt securities in issue 133,797 119,426 115,436 -13.7% -3.3%
Financial liabilities held for trading 68,029 67,800 68,361 +0.5% +0.8%
Financial liabilities designated at fair value 455 1,509 2,497 +449.1% +65.5%
Hedging instruments 11,004 11,545 9,405 -14.5% -18.5%
Provisions for risks and charges 9,720 9,733 10,541 +8.5% +8.3%
Tax liabilities 1,428 1,378 1,399 -2.1% +1.5%
Liabilities included in disposal groups classified as held for sale 35,985 35,418 35,869 -0.3% +1.3%
Other liabilities 16,511 17,704 16,566 +0.3% -6.4%
Minorities 3,399 3,906 3,853 +13.4% -1.4%
Group Shareholders' Equity: 50,087 51,237 39,336 -21.5% -23.2%
- Capital and reserves 48,336 50,409 51,881 +7.3% +2.9%
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve 56 (941) (755) -1446.5% -19.7%
- Net profit (loss) 1,694 1,768 (11,790) -795.9% -766.7%
Total liabilities and Shareholders' Equity 860,433 874,527 859,533 -0.1% -1.7%

Consolidated Balance Sheet - quarterly figures

(€ million)

  3Q15 4Q15 2Q16 3Q16 4Q16
ASSETS          
Cash and cash balances 10,555 9,611 11,904 15,582 13,858
Financial assets held for trading 90,306 89,995 104,047 93,433 87,467
Loans and receivables with banks 89,736 77,437 67,452 75,473 74,692
Loans and receivables with customers 444,999 445,382 462,069 452,849 444,607
Financial investments 146,023 147,634 157,463 148,859 149,004
Hedging instruments 8,847 7,911 8,025 8,017 6,872
Property, plant and equipment 9,702 9,673 9,229 9,220 9,092
Goodwill 1,736 1,744 1,744 1,744 1,484
Other intangible assets 1,778 1,908 1,905 1,885 1,708
Tax assets 14,934 15,615 15,604 15,368 15,161
Non-current assets and disposal groups classified as held for sale 45,920 44,576 43,179 43,540 45,854
Other assets 8,970 8,948 8,857 8,557 9,735
Total assets 873,506 860,433 891,477 874,527 859,533
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks 118,831 110,333 112,038 113,838 103,852
Deposits from customers  420,039 419,686 443,968 441,033 452,419
Debt securities in issue 136,637 133,797 123,569 119,426 115,436
Financial liabilities held for trading 66,473 68,029 79,304 67,800 68,361
Financial liabilities designated at fair value 455 455 1,465 1,509 2,497
Hedging instruments 11,465 11,004 12,427 11,545 9,405
Provisions for risks and charges 9,796 9,720 9,723 9,733 10,541
Tax liabilities 1,465 1,428 1,299 1,378 1,399
Liabilities included in disposal groups classified as held for sale 36,408 35,985 35,453 35,418 35,869
Other liabilities 18,371 16,511 18,933 17,704 16,566
Minorities 3,327 3,399 3,174 3,906 3,853
Group Shareholders' Equity: 50,239 50,087 50,123 51,237 39,336
- Capital and reserves 49,255 48,336 49,812 50,409 51,881
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve (558) 56 (1,011) (941) (755)
- Net profit (loss) 1,541 1,694 1,321 1,768 (11,790)
Total liabilities and Shareholders' Equity 873,506 860,433 891,477 874,527 859,533

Consolidated Income Statement

(€ million)

  FY15 FY16 FY/FY 4Q15 3Q16 4Q16 Y/Y% Q/Q%
Net interest 10,922 10,307 -5.6% 2,778  2,591 2,415 -13.1% -6.8%
Dividends and other income from equity investments 822 844 +2.6% 248  189 148 -40.3% -21.8%
Net fees and commissions 5,519 5,458 -1.1% 1,370  1,334 1,306 -4.7% -2.1%
Net trading, hedging and fair value income 1,485 2,080 +40.0% 261  478 405 +55.0% -15.2%
Net other expenses/income 118 112 -5.1% 67  49 (51) n.m. n.m.
OPERATING INCOME 18,866 18,801 -0.3% 4,724  4,642 4,223 -10.6% -9.0%
Staff expenses (7,486) (7,124) -4.8% (1,819)  (1,791) (1,665) -8.5% -7.0%
Other administrative expenses (4,750) (4,900) +3.2% (1,187)  (1,112) (1,561) +31.5% +40.5%
Recovery of expenses 807 768 -4.8% 209  191 207 -1.0% +8.6%
Amortisation, depreciation and impairment losses on intangible and tangible assets (837) (1,196) +42.9% (227)  (228) (536) n.m. n.m.
Operating costs (12,266) (12,453) +1.5% (3,025)  (2,940) (3,555) +17.5% +20.9%
OPERATING PROFIT (LOSS) 6,600 6,348 -3.8% 1,699  1,702 667 -60.7% -60.8%
Net write-downs on loans and provisions  (3,991) (12,207) n.m. (1,187)  (977) (9,586) n.m. n.m.
NET OPERATING PROFIT (LOSS) 2,609 (5,858) n.m. 513  726 (8,919) n.m. n.m.
Other charges and provisions  (1,447) (2,078) +43.6% (730)  (247) (973) +33.3% n.m.
Integration costs (386) (2,132) n.m. (383)  (26) (1,771) n.m. n.m.
Net income from investments (27) (910) n.m. (45)  (8) (885) n.m. n.m.
PROFIT (LOSS) BEFORE TAX 749 (10,978) n.m. (644)  445 (12,547) n.m. n.m.
Income tax for the period 98 (713) n.m. 682  (271) (103) n.m. -62.2%
NET PROFIT (LOSS) 848 (11,691) n.m. 38  173 (12,650) n.m. n.m.
Profit (Loss) from non-current assets held for sale, after tax 1,377 630 -54.3% 202  378 (525) n.m. n.m.
PROFIT (LOSS) FOR THE PERIOD 2,225 (11,061) n.m. 240  551 (13,175) n.m. n.m.
Minorities (352) (464) +31.9% (72)  (103) (121) +67.9% +17.2%
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 1,873 (11,524) n.m. 168  448 (13,296) n.m. n.m.
Purchase Price Allocation effect  (179) (5) -97.1% (15)  (1) (2) -85.8% n.m.
Goodwill impairment 0 -261 n.m. 0  -   -261 n.m. n.m.
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 1,694 (11,790) n.m. 153  447 (13,558) n.m. n.m.

Consolidated Income Statement - quarterly figures

(€ million)

  3Q15 4Q15 2Q16 3Q16 4Q16
Net interest 2,678 2,778 2,670 2,591 2,415
Dividends and other income from equity investments 191 248 295 189 148
Net fees and commissions 1,326 1,370 1,401 1,334 1,306
Net trading, hedging and fair value income 221 261 860 478 405
Net other expenses/income 54 67 37 49 (51)
OPERATING INCOME 4,471 4,724 5,262 4,642 4,223
Staff expenses (1,864) (1,819) (1,837) (1,791) (1,665)
Other administrative expenses (1,186) (1,187) (1,122) (1,112) (1,561)
Recovery of expenses 198 209 194 191 207
Amortisation, depreciation and impairment losses on intangible and tangible assets (205) (227) (218) (228) (536)
Operating costs (3,057) (3,025) (2,982) (2,940) (3,555)
OPERATING PROFIT (LOSS) 1,414 1,699 2,280 1,702 667
Net write-downs on loans and provisions  (975) (1,187) (884) (977) (9,586)
NET OPERATING PROFIT (LOSS) 439 513 1,397 726 (8,919)
Provisions for risks and charges (139) (730) (477) (247) (973)
Integration costs (3) (383) (83) (26) (1,771)
Net income from investments 5 (45) (0) (8) (885)
PROFIT (LOSS) BEFORE TAX 302 (644) 837 445 (12,547)
Income tax for the period (129) 682 (153) (271) (103)
NET PROFIT (LOSS) 173 38 684 173 (12,650)
Profit (Loss) from non-current assets held for sale, after tax 457 202 379 378 (525)
PROFIT (LOSS) FOR THE PERIOD 629 240 1,064 551 (13,175)
Minorities (78) (72) (147) (103) (121)
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 551 168 917 448 (13,296)
Purchase Price Allocation effect  (44) (15) (1) (1) (2)
Goodwill impairment 0 0 0 0 -261
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 507 153 916 447 (13,558)

Staff and Branches

(units)

  4Q15 3Q16 4Q16 Y/Y Δ Q/Q Δ
Employees1 125,510 122,990 117,659 -7,851 -5,331
Branches 6,934 6,592 6,221 -713 -371
- o/w, Italy 3,873 3,613 3,524 -349 -89
- o/w, other countries 3,061 2,979 2,697 -364 -282

Note: 1."Full Time Equivalent" data (FTE): number of employees counted for the rate of presence. Figures include Pioneer and Pekao

Updated on March 07, 2017.