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Financial Highlights

1Q17 figures

Operating income € 4,833 million
 
Operating profit  € 1,947 million
 
Net profit attributable to the Group € 907 million
Cost/Income Ratio  59.7%

Common Equity Tier 1 Ratio fully loaded 11.45%
 
Loans and receivable with customers € 452,776 million

Deposits from customers € 437,996 million

Shareholders' equity € 52,723 million
 
Total Capital Ratio transitional 15.20%

 

Consolidated Balance Sheet

(€ million)

  1Q16 3Q16 1Q17 Y/Y% Q/Q%
ASSETS          
Cash and cash balances 8,793 13,858 32,261 n.m. n.m.
Financial assets held for trading 97,239 87,467 86,191 -11.4% -1.5%
Loans and receivables with banks 85,442 74,692 77,968 -8.7% +4.4%
Loans and receivables with customers 455,756 444,607 452,766 -0.7% +1.8%
Financial investments 154,422 149,004 142,123 -8.0% -4.6%
Hedging instruments 8,451 6,872 6,231 -26.3% -9.3%
Property, plant and equipment 9,285 9,092 9,054 -2.5% -0.4%
Goodwill 1,744 1,484 1,484 -14.9% +0.0%
Other intangible assets 1,893 1,708 1,687 -10.9% -1.2%
Tax assets 15,601 15,161 15,293 -2.0% +0.9%
Non-current assets and disposal groups classified as held for sale 43,386 45,854 46,603 +7.4% +1.6%
Other assets 10,192 9,735 9,424 -7.5% -3.2%
Total assets 892,203 859,533 881,085 -1.2% +2.5%
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks 111,175 103,852 138,581 +24.7% +33.4%
Deposits from customers  449,360 452,419 437,996 -2.5% -3.2%
Debt securities in issue 127,628 115,436 109,103 -14.5% -5.5%
Financial liabilities held for trading 71,154 68,361 60,631 -14.8% -11.3%
Financial liabilities designated at fair value 1,217 2,497 3,027 n.m. +21.2%
Hedging instruments 12,014 9,405 8,202 -31.7% -12.8%
Provisions for risks and charges 9,357 10,541 10,055 +7.5% -4.6%
Tax liabilities 1,534 1,399 1,443 -5.9% +3.2%
Liabilities included in disposal groups classified as held for sale 34,861 35,869 36,031 +3.4% +0.5%
Other liabilities 19,959 16,566 18,980 -4.9% +14.6%
Minorities 3,513 3,853 4,312 +22.8% +11.9%
Group Shareholders' Equity: 50,431 39,336 52,723 +4.5% +34.0%
- Capital and reserves 49,998 51,881 52,948 +5.9% +2.1%
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve              27                 (755)             (1,132) n.m. +49.8%
- Net profit (loss) 406          (11,790)                   907 n.m. n.m.
Total liabilities and Shareholders' Equity 892,203 859,533 881,085 -1.2% +2.5%

Consolidated Balance Sheet - quarterly figures

(€ million)

  1Q16 2Q16 3Q16 4Q16 1Q17
ASSETS          
Cash and cash balances 8,793 11,904 15,582 13,858 32,261
Financial assets held for trading 97,239 104,047 93,433 87,467 86,191
Loans and receivables with banks 85,442 67,452 75,473 74,692 77,968
Loans and receivables with customers 455,756 462,069 452,849 444,607 452,766
Financial investments 154,422 157,463 148,859 149,004 142,123
Hedging instruments 8,451 8,025 8,017 6,872 6,231
Property, plant and equipment 9,285 9,229 9,220 9,092 9,054
Goodwill 1,744 1,744 1,744 1,484 1,484
Other intangible assets 1,893 1,905 1,885 1,708 1,687
Tax assets 15,601 15,604 15,368 15,161 15,293
Non-current assets and disposal groups classified as held for sale 43,386 43,179 43,540 45,854 46,603
Other assets 10,192 8,857 8,557 9,735 9,424
Total assets 892,203 891,477 874,527 859,533 881,085
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks 111,175 112,038 113,838 103,852 138,581
Deposits from customers  449,360 443,968 441,033 452,419 437,996
Debt securities in issue 127,628 123,569 119,426 115,436 109,103
Financial liabilities held for trading 71,154 79,304 67,800 68,361 60,631
Financial liabilities designated at fair value 1,217 1,465 1,509 2,497 3,027
Hedging instruments 12,014 12,427 11,545 9,405 8,202
Provisions for risks and charges 9,357 9,723 9,733 10,541 10,055
Tax liabilities 1,534 1,299 1,378 1,399 1,443
Liabilities included in disposal groups classified as held for sale 34,861 35,453 35,418 35,869 36,031
Other liabilities 19,959 18,933 17,704 16,566 18,980
Minorities 3,513 3,174 3,906 3,853 4,312
Group Shareholders' Equity: 50,431 50,123 51,237 39,336 52,723
- Capital and reserves 49,998 49,812 50,409 51,881 52,948
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve              27    (1,011)         (941)             (755)    (1,132)
- Net profit (loss) 406 1,321      1,768     (11,790)           907
Total liabilities and Shareholders' Equity 892,203 891,477 874,527 859,533 881,085

Consolidated Income Statement

(€ million)

  1Q17 4Q16 1Q17 Y/Y% Q/Q%
Net interest 2,631 2,415 2,564 -2.5% +6.2%
Dividends and other income from equity investments 212 148 170 -19.7% +15.0%
Net fees and commissions 1,417 1,306 1,481 +4.5% +13.5%
Net trading, hedging and fair value income 337 405 590 +75.1% +45.7%
Net other expenses/income 77 (51) 28 -64.2% n.m.
OPERATING INCOME 4,674 4,223 4,833 +3.4% +14.5%
Staff expenses (1,832) (1,665) (1,755) -4.2% +5.4%
Other administrative expenses (1,105) (1,561) (1,114) +0.8% -28.7%
Recovery of expenses 176 207 176 +0.5% -14.8%
Amortisation, depreciation and impairment losses on intangible and tangible assets (214) (536) (193) -9.7% -63.9%
Operating costs (2,976) (3,555) (2,886) -3.0% -18.8%
OPERATING PROFIT (LOSS) 1,698 667 1,947 +14.6% n.m.
Net write-downs on loans and provisions  (760) (9,586) (670) -11.8% -93.0%
NET OPERATING PROFIT (LOSS) 938 (8,919) 1,277 +36.1% n.m.
Other charges and provisions  (381) (973) (463) +21.6% -52.4%
Integration costs (252) (1,771) (5) -98.1% -99.7%
Net income from investments (18) (885) 24 n.m. n.m.
PROFIT (LOSS) BEFORE TAX 288 (12,547) 833 n.m. n.m.
Income tax for the period (186) (103) (212) +13.8% n.m.
NET PROFIT (LOSS) 102 (12,650) 621 n.m. n.m.
Profit (Loss) from non-current assets held for sale, after tax 398 (525) 376 -5.5% n.m.
PROFIT (LOSS) FOR THE PERIOD 500 (13,175) 997 +99.4% n.m.
Minorities (93) (121) (89) -5.1% -26.5%
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 407 (13,296) 909 n.m. n.m.
Purchase Price Allocation effect  (1) (2) (1) +39.2% -38.0%
Goodwill impairment 0 (261) 0 n.m. n.m.
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 406 (13,558) 907 n.m. n.m.

Consolidated Income Statement - quarterly figures

(€ million)

  1Q16 2Q16 3Q16 4Q16 1Q17
Net interest 2,631 2,670 2,591 2,415 2,564
Dividends and other income from equity investments 212 295 189 148 170
Net fees and commissions 1,417 1,401 1,334 1,306 1,481
Net trading, hedging and fair value income 337 860 478 405 590
Net other expenses/income 77 37 49 (51) 28
OPERATING INCOME 4,674 5,262 4,642 4,223 4,833
Staff expenses (1,832) (1,837) (1,791) (1,665) (1,755)
Other administrative expenses (1,105) (1,122) (1,112) (1,561) (1,114)
Recovery of expenses 176 194 191 207 176
Amortisation, depreciation and impairment losses on intangible and tangible assets (214) (218) (228) (536) (193)
Operating costs (2,976) (2,982) (2,940) (3,555) (2,886)
OPERATING PROFIT (LOSS) 1,698 2,280 1,702 667 1,947
Net write-downs on loans and provisions  (760) (884) (977) (9,586) (670)
NET OPERATING PROFIT (LOSS) 938 1,397 726 (8,919) 1,277
Provisions for risks and charges (381) (477) (247) (973) (463)
Integration costs (252) (83) (26) (1,771) (5)
Net income from investments (18) (0) (8) (885) 24
PROFIT (LOSS) BEFORE TAX 288 837 445 (12,547) 833
Income tax for the period (186) (153) (271) (103) (212)
NET PROFIT (LOSS) 102 684 173 (12,650) 621
Profit (Loss) from non-current assets held for sale, after tax 398 379 378 (525) 376
PROFIT (LOSS) FOR THE PERIOD 500 1,064 551 (13,175) 997
Minorities (93) (147) (103) (121) (89)
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 407 917 448 (13,296) 909
Purchase Price Allocation effect  (1) (1) (1) (2) (1)
Goodwill impairment 0 0 0 (261) 0
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 406 916 447 (13,558) 907

Staff and Branches

(units)

  1Q16 4Q16 1Q17 Y/Y Δ Q/Q Δ
Employees1 100,139 98,304 96,423 -3,716 -1,881
Branches 6,842 6,221 6,137 -705 -84
- o/w, Italy 3,805 3,524 3,459 -346 -65
- o/w, other countries 3,037 2,697 2,678 -359 -19

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

Updated on May 12, 2017.