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Financial Highlights

3Q16 figures

Operating income € 5,455 million
 
Operating profit  € 2,227 million
 
Net profit attributable to the Group € 447 million
Cost/Income Ratio  59.2%

Common Equity Tier 1 Ratio fully loaded 10.82%
 
Loans and receivable with customers € 480,926 million

Deposits from customers € 470,269 million

Shareholders' equity € 51,237 million
 
Total Capital Ratio transitional 14.50%

 

Consolidated Balance Sheet

(€ million)

  3Q15 2Q16 3Q16 Y/Y % Q/Q %
ASSETS          
Cash and cash balances        11,182   12,523  16,153 +44.5% +29.0%
Financial assets held for trading        91,612  105,075   94,110 +2.7% -10.4%
Loans and receivables with banks        90,689   69,078   76,750 -15.4% +11.1%
Loans and receivables with customers      474,122  489,155  480,926 +1.4% -1.7%
Financial investments      152,909  163,684  155,336 +1.6% -5.1%
Hedging instruments          8,939     8,085     8,094 -9.5% +0.1%
Property, plant and equipment        10,064     9,559     9,555 -5.1% -0.0%
Goodwill          3,601     3,563     3,591 -0.3% +0.8%
Other intangible assets          2,016     2,110     2,087 +3.6% -1.1%
Tax assets        15,036   15,700   15,469 +2.9% -1.5%
Non-current assets and disposal groups classified as held for sale          3,454     3,501     3,369 -2.4% -3.8%
Other assets         9,882 9,445 9,085 -8.1% -3.8%
Total assets 873,506 891,477 874,527 +0.1% -1.9%
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks      120,555 113,036  114,983 -4.6% +1.7%
Deposits from customers       450,204  472,369  470,296 +4.5% -0.4%
Debt securities in issue      137,491  124,039  119,803 -12.9% -3.4%
Financial liabilities held for trading        67,334   79,991   68,387 +1.6% -14.5%
Financial liabilities designated at fair value           455      1,465      1,509 n.m. +3.0%
Hedging instruments       11,717    12,703    11,797 +0.7% -7.1%
Provisions for risks and charges          9,958      9,876      9,849 -1.1% -0.3%
Tax liabilities          1,569      1,430      1,495 -4.7% +4.6%
Liabilities included in disposal groups classified as held for sale          1,415      2,770      2,651 +87.3% -4.3%
Other liabilities        19,242   20,501   18,615 -3.3% -9.2%
Minorities          3,327      3,174     3,906 +17.4% +23.1%
Group Shareholders' Equity:        50,239    50,123   51,237 +2.0% +2.2%
- Capital and reserves        49,248    49,814    50,411 +2.4% +1.2%
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve          (551)   (1,013)      (943) +71.2% -6.9%
- Net profit (loss)          1,541      1,321      1,768 +14.7% +33.8%
Total liabilities and Shareholders' Equity     873,506 891,477 874,527 +0.1% -1.9%

Consolidated Balance Sheet - quarterly figures

(€ million)

  3Trim15 4Trim15 1Trim16 2Trim16 3Trim16
ASSETS          
Cash and cash balances                     11,182      12,523      16,153 +44.5% +29.0%
Financial assets held for trading                     91,612   105,075      94,110 +2.7% -10.4%
Loans and receivables with banks                     90,689      69,078      76,750 -15.4% +11.1%
Loans and receivables with customers                  474,122   489,155   480,926 +1.4% -1.7%
Financial investments                  152,909   163,684   155,336 +1.6% -5.1%
Hedging instruments                        8,939         8,085         8,094 -9.5% +0.1%
Property, plant and equipment                     10,064         9,559         9,555 -5.1% -0.0%
Goodwill                        3,601         3,563         3,591 -0.3% +0.8%
Other intangible assets                        2,016         2,110         2,087 +3.6% -1.1%
Tax assets                     15,036      15,700      15,469 +2.9% -1.5%
Non-current assets and disposal groups classified as held for sale                        3,454         3,501         3,369 -2.4% -3.8%
Other assets                        9,882 9,445 9,085 -8.1% -3.8%
Total assets 873,506 891,477   874,527 +0.1% -1.9%
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks                  120,555   113,036   114,983 -4.6% +1.7%
Deposits from customers                   450,204   472,369   470,296 +4.5% -0.4%
Debt securities in issue                  137,491   124,039   119,803 -12.9% -3.4%
Financial liabilities held for trading                     67,334      79,991      68,387 +1.6% -14.5%
Financial liabilities designated at fair value                            455         1,465         1,509 n.m. +3.0%
Hedging instruments                     11,717      12,703      11,797 +0.7% -7.1%
Provisions for risks and charges                        9,958         9,876         9,849 -1.1% -0.3%
Tax liabilities                        1,569         1,430         1,495 -4.7% +4.6%
Liabilities included in disposal groups classified as held for sale                        1,415         2,770         2,651 +87.3% -4.3%
Other liabilities                     19,242      20,501      18,615 -3.3% -9.2%
Minorities                        3,327         3,174         3,906 +17.4% +23.1%
Group Shareholders' Equity:                     50,239      50,123      51,237 +2.0% +2.2%
- Capital and reserves                     49,248     49,814     50,411 +2.4% +1.2%
      - Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve                         (551)      (1,013)          (943) +71.2% -6.9%
- Net profit (loss)                       1,541         1,321         1,768 +14.7% +33.8%
Total liabilities and Shareholders' Equity                  873,506 891,477 874,527 +0.1% -1.9%

Consolidated Income Statement

(€ million)

  9M15 9M16 9M/9M 3Q15 2Q16 3Q16 Y/Y % Q/Q %
Net interest 8,864 8,766 -1.1%   2,930    2,963 2,900 -1.0% -2.1%
Dividends and other income from equity investments 579 700 +20.9% 192      299 189 -1.2% -36.7%
Net fees and commissions 5,862 5,763 -1.7%   1,886 1,943   
1,873 -0.7% -3.7%
Net trading, hedging and fair value income 1,329 1,799 +35.4% 247 945 510 n.m. -46.0%
Net other expenses/income 122 197 +61.2% 74    55 57 -23.8% +3.1%
OPERATING INCOME 16,756 17,224 +2.8% 5,330 6,205 5,529 +3.7% -10.9%
Staff expenses (6,183) (5,976) -3.4% (2,034) (2,011) (1,953) -4.0% -2.9%
Other administrative expenses (3,525) (3,372) -4.4% (1,171)  (1,148) (1,121) -4.3% -2.3%
Recovery of expenses 505 474 -6.1% 167  152 164 -1.8% +8.3%
Amortisation, depreciation and impairment losses on intangible and tangible assets (678) (727) +7.3% (227)  (240) (250) +10.1% +4.2%
Operating costs (9,881) (9,600) -2.8% (3,265)  (3,247) (3,159) -3.2% -2.7%
OPERATING PROFIT (LOSS) 6,875 7,623 +10.9% 2,065   2,958 2,370 +14.7% -19.9%
Net write-downs on loans and provisions  (1,716) (1,388) -19.1% (545)   (513)
(462) -15.3% -10.0%
NET OPERATING PROFIT (LOSS) 5,159 6,235 +20.9% 1,520    2,445 1,908 +25.5% -21.9%
Other charges and provisions  (717) (1,183) +65.1% (153)    (508)
(285) +86.3% -43.9%
Integration costs (12) (395) n.m. (8)   (88)
(48) n.m. -45.9%
Net income from investments 35 (14) n.m. 20   7
(7) n.m. n.m.
PROFIT (LOSS) BEFORE TAX 4,465 4,643 +4.0% 1,379  1,855 1,569 +13.8% -15.4%
Income tax for the period (1,270) (1,402) +10.4% (384)    (449)
(550) +43.2% +22.5%
NET PROFIT (LOSS) 3,195 3,242 +1.5% 995     1,406
1,019 +2.4% -27.6%
Profit (Loss) from non-current assets held for sale, after tax (152) 13 n.m. 27 (11)
9 -65.5% n.m.
PROFIT (LOSS) FOR THE PERIOD 3,043 3,254 +6.9% 1,023    1,396
1,028 +0.5% -26.3%
Minorities (280) (343) +22.6% (78)   (147)
(103) +31.6% -30.1%
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 2,763 2,911 +5.4% 944    1,249
925 -2.0% -25.9%
Purchase Price Allocation effect  (174) (13) -92.7% (48)   (4)
(4) -91.0% +0.7%
Goodwill impairment 0 0 n.m. 0   0
0 n.m. n.m.
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 2,589 2,898 +11.9% 897  1,244   921 +2.7% -26.0%

Consolidated Income Statement - quarterly figures

(€ million)

  3Q15 4Q15 1Q16 2Q16 3Q16
Net interest 2,930 3,065 2,903 2,963 2,900
Dividends and other income from equity investments 192 250 212 299 189
Net fees and commissions 1,886 1,935 1,946 1,943 1,873
Net trading, hedging and fair value income 247 299 344 945 510
Net other expenses/income 74 84 85 55 57
OPERATING INCOME 5,330 5,634 5,490 6,205 5,529
Staff expenses (2,034) (2,032) (2,013) (2,011) (1,953)
Other administrative expenses (1,171) (1,189) (1,103) (1,148) (1,121)
Recovery of expenses 167 184 159 152 164
Amortisation, depreciation and impairment losses on intangible and tangible assets (227) (250) (236) (240) (250)
Operating costs (3,265) (3,287) (3,194) (3,247) (3,159)
OPERATING PROFIT (LOSS) 2,065 2,347 2,296 2,958 2,370
Net write-downs on loans and provisions  (545) (724) (413) (513) (462)
NET OPERATING PROFIT (LOSS) 1,520 1,623 1,883 2,445 1,908
Provisions for risks and charges (153) (720) (390) (508) (285)
Integration costs (8) (389) (259) (88) (48)
Net income from investments 20 (39) (15) 7 (7)
PROFIT (LOSS) BEFORE TAX 1,379 474 1,219 1,855 1,569
Income tax for the period (384) 405 (402) (449) (550)
NET PROFIT (LOSS) 995 879 817 1,406 1,019
Profit (Loss) from non-current assets held for sale, after tax 27 (143) 14 (11) 9
PROFIT (LOSS) FOR THE PERIOD 1,023 736 830 1,396 1,028
Minorities (78) (72) (93) (147) (103)
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 944 664 737 1,249 925
Purchase Price Allocation effect  (48) (19) (4) (4) (4)
Goodwill impairment 0 0 0 0 0
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 897 645 733 1,244 921

Staff and Branches

(units)

  3Q15 2Q16 3Q16 Y/Y Δ Q/Q Δ
Employees1 126,849 123,888 122,990 -3,859 -898
Branches 7,055 6,606 6,592 -463 -14
- o/w, Italy 3,921 3,614 3,613 -308 -1
- o/w, other countries 3,134 2,992 2,979 -155 -13

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

Updated on August 03, 2016.