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Financial Highlights

1H17 figures

Operating income € 9,688million
 
Operating profit  € 3,944 million
 
Net profit attributable to the Group € 1,853 million
Cost/Income Ratio  59.3%

Common Equity Tier 1 Ratio fully loaded 12.80%
 
Loans and receivable with customers € 420,655 million

Deposits from customers € 394,944 million

Shareholders' equity € 55,161 million
 
Total Capital Ratio transitional 17.25%

 

Consolidated Balance Sheet

(€ million)

  2Q16 1Q17 2Q17 Y/Y% Q/Q%
ASSETS          
Cash and cash balances    11,904     32,261     48,428 n.m. +50.1%
Financial assets held for trading   104,047     86,191     79,529 -23.6% -7.7%
Loans and receivables with banks     67,452     77,968     65,225 -3.3% -16.3%
Loans and receivables with customers   462,069   452,766   450,298 -2.5% -0.5%
Financial investments   157,463   142,123   138,209 -12.2% -2.8%
Hedging instruments       8,025       6,231       5,975 -25.5% -4.1%
Property, plant and equipment       9,229       9,054       8,947 -3.1% -1.2%
Goodwill       1,744       1,484       1,484 -14.9% -0.0%
Other intangible assets       1,905       1,687       1,763 -7.4% +4.5%
Tax assets     15,604     15,293     14,252 -8.7% -6.8%
Non-current assets and disposal groups classified as held for sale      43,179      46,603         4,052 -90.6% -91.3%
Other assets         8,857         9,424         8,966 +1.2% -4.9%
Total assets 891,477 881,085 827,128 -7.2% -6.1%
LIABILITIES AND SHAREHOLDERS' EQUITY          
Deposits from banks   112,038   138,581   129,844 +15.9% -6.3%
Deposits from customers    443,968   437,996   433,017 -2.5% -1.1%
Debt securities in issue   123,569   109,103   110,664 -10.4% +1.4%
Financial liabilities held for trading     79,304     60,631     55,505 -30.0% -8.5%
Financial liabilities designated at fair value       1,465       3,027       3,045 n.m. +0.6%
Hedging instruments     12,427       8,202       7,245 -41.7% -11.7%
Provisions for risks and charges       9,723     10,055       8,665 -10.9% -13.8%
Tax liabilities       1,299       1,443       1,188 -8.5% -17.7%
Liabilities included in disposal groups classified as held for sale    35,453    36,031         618 -98.3% -98.3%
Other liabilities     18,933     18,980     21,354 +12.8% +12.5%
Minorities       3,174       4,312         822 -74.1% -80.9%
Group Shareholders' Equity:     50,123     52,723     55,161 +10.1% +4.6%
- Capital and reserves     49,812     52,948     53,955 +8.3% +1.9%
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve    (1,011)    (1,132)       (647) -36.0% -42.8%
- Net profit (loss)       1,321         907       1,853 +40.2% n.m.
Total liabilities and Shareholders' Equity   891,477   881,085   827,128 -7.2% -6.1%

Consolidated Balance Sheet - quarterly figures

(€ million)

  3Q16 4Q16 1Q17 2Q17
ASSETS        
Cash and cash balances 15,582 13,858 32,261 48,428
Financial assets held for trading 93,433 87,467 86,191 79,529
Loans and receivables with banks 75,473 74,692 77,968 65,225
Loans and receivables with customers 452,849 444,607 452,766 450,298
Financial investments 148,859 149,004 142,123 138,209
Hedging instruments 8,017 6,872 6,231 5,975
Property, plant and equipment 9,220 9,092 9,054 8,947
Goodwill 1,744 1,484 1,484 1,484
Other intangible assets 1,885 1,708 1,687 1,763
Tax assets 15,368 15,161 15,293 14,252
Non-current assets and disposal groups classified as held for sale 43,540 45,854 46,603 4,052
Other assets 8,557 9,735 9,424 8,966
Total assets 874,527 859,533 881,085 827,128
LIABILITIES AND SHAREHOLDERS' EQUITY        
Deposits from banks 113,838 103,852 138,581 129,844
Deposits from customers  441,033 452,419 437,996 433,017
Debt securities in issue 119,426 115,436 109,103 110,664
Financial liabilities held for trading 67,800 68,361 60,631 55,505
Financial liabilities designated at fair value 1,509 2,497 3,027 3,045
Hedging instruments 11,545 9,405 8,202 7,245
Provisions for risks and charges 9,733 10,541 10,055 8,665
Tax liabilities 1,378 1,399 1,443 1,188
Liabilities included in disposal groups classified as held for sale 35,418 35,869 36,031 618
Other liabilities 17,704 16,566 18,980 21,354
Minorities 3,906 3,853 4,312 822
Group Shareholders' Equity: 51,237 39,336 52,723 55,161
- Capital and reserves 50,409 51,881 52,948 53,955
- Available-for-sale assets fair value reserve, cash-flow hedging reserve and defined benefits plans reserve -941 -755 -1,132 -647
- Net profit (loss) 1,768 -11,790 907 1,853
Total liabilities and Shareholders' Equity 874,527 859,533 881,085 827,128

Consolidated Income Statement

(€ million)

  1H16 1H17 H/H% 2Q16 1Q17   
2Q17     
 Y/Y%   
 Q/Q% 
Net interest       5,301       5,216 -1.6%       2,670       2,564       2,652 -0.7% +3.4%
Dividends and other income from equity investments          507          353 -30.3%          295          170          183 -37.9% +7.7%
Net fees and commissions       2,818       2,988 +6.0%       1,401       1,481       1,507 +7.6% +1.8%
Net trading, hedging and fair value income       1,197       1,053 -12.0%           860          590           462 -46.2% -21.7%
Net other expenses/income          114             78 -31.8%             37            28             50 +35.7% +81.3%
OPERATING INCOME       9,937       9,688 -2.5%       5,262       4,833       4,855 -7.8% +0.4%
Staff expenses     (3,669)     (3,500) -4.6%     (1,837)     (1,755)     (1,744) -5.0% -0.6%
Other administrative expenses     (2,227)     (2,195) -1.4%     (1,122)     (1,114)     (1,081) -3.6% -2.9%
Recovery of expenses           370           344 -7.1%           194          176           167 -13.9% -5.1%
Amortisation, depreciation and impairment losses on intangible and tangible assets        (432)        (393) -9.2%        (218)        (193)        (199) -8.7% +3.0%
Operating costs     (5,958)     (5,744) -3.6%     (2,982)     (2,886)     (2,858) -4.2% -1.0%
OPERATING PROFIT (LOSS)       3,979       3,944 -0.9%       2,280       1,947       1,997 -12.4% +2.6%
Net write-downs on loans and provisions      (1,644)     (1,235) -24.9%        (884)        (670)        (564) -36.1% -15.8%
NET OPERATING PROFIT (LOSS)       2,335       2,709 +16.0%       1,397       1,277       1,433 +2.6% +12.2%
Other charges and provisions         (858)        (598) -30.3%        (477)        (463)        (135) -71.7% -70.9%
Integration costs        (334)          (12) -96.3%          (83)           (5)            (8) -90.9% +61.4%
Net income from investments       (18)     (149) n.m.     (0)     24  (173) n.m. n.m.
PROFIT (LOSS) BEFORE TAX       1,125       1,950 +73.3% 837  833       1,117 +33.4% +34.1%
Income tax for the period   (339)   (346) +2.0%  (153) (212) (134) -12.5% -36.8%
NET PROFIT (LOSS)   786       1,604 n.m.  684    621    983 +43.7% +58.3%
Profit (Loss) from non-current assets held for sale, after tax  778    456 -41.4%   379     376    79 -79.1% -79.0%
PROFIT (LOSS) FOR THE PERIOD       1,564       2,059 +31.7%       1,064   997       1,062 -0.2% +6.5%
Minorities      (240)    (204) -15.0%  (147)  (89) (116) -21.3% +30.6%
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA       1,323       1,855 +40.2% 917 909   946 +3.2% +4.2%
Purchase Price Allocation effect      (2)    (2) +18.6%        (1)   (1)  (1) -1.8% -28.8%
Goodwill impairment    -    -   n.m.   -        -      -   n.m. n.m.
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP       1,321       1,853 +40.2%  916     907  945 +3.3% +4.2%

Consolidated Income Statement - quarterly figures

(€ million)

  3Q16 4Q16 1Q16 2Q17
Net interest 2,591 2,415 2,564 2,652
Dividends and other income from equity investments 189 148 170 183
Net fees and commissions 1,334 1,306 1,481 1,507
Net trading, hedging and fair value income 478 405 590 462
Net other expenses/income 49 (51) 28 50
OPERATING INCOME 4,642 4,223 4,833 4,855
Staff expenses (1,791) (1,665) (1,755) (1,744)
Other administrative expenses (1,112) (1,561) (1,114) (1,081)
Recovery of expenses 191 207 176 167
Amortisation, depreciation and impairment losses on intangible and tangible assets (228) (536) (193) (199)
Operating costs (2,940) (3,555) (2,886) (2,858)
OPERATING PROFIT (LOSS) 1,702 667 1,947 1,997
Net write-downs on loans and provisions  (977) (9,586) (670) (564)
NET OPERATING PROFIT (LOSS) 726 (8,919) 1,277 1,433
Provisions for risks and charges (247) (973) (463) (135)
Integration costs (26) (1,771) (5) (8)
Net income from investments (8) (885) 24 (173)
PROFIT (LOSS) BEFORE TAX 445 (12,547) 833 1,117
Income tax for the period (271) (103) (212) (134)
NET PROFIT (LOSS) 173 (12,650) 621 983
Profit (Loss) from non-current assets held for sale, after tax 378 (525) 376 79
PROFIT (LOSS) FOR THE PERIOD 551 (13,175) 997 1,062
Minorities (103) (121) (89) (116)
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP BEFORE PPA 448 (13,296) 909 946
Purchase Price Allocation effect  (1) (2) (1) (1)
Goodwill impairment                 -            (261)                 -                   -  
NET PROFIT (LOSS) ATTRIBUTABLE TO THE GROUP 447 (13,558) 907 945

Staff and Branches

(units)

  2Q16 1Q17 2Q17 Y/Y Δ Q/Q Δ
Employees1 99,831 96,423 95,288 -4,543 -1,135
Branches 6,606 6,137 5,072 -1,534 -1,065
- o/w, Italy 3,614 3,459 3,329 -285 -130
- o/w, other countries 2,992 2,678 1,743 -1,249 -935

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.