Breakdown of yields and costs
Cash and balances with central banks
Financial assets and derivatives
Loans and advances to credit institutions
Loans and advances to customers
•Euros
- Domestic
- Other
•Foreign currencies
Other assets
TOTAL ASSETS
Deposits from central banks and credit institutions
Deposits from customers
•Euros
- Domestic
- Other
•Foreign currencies
Debt certificates and subordinated liabilities
Other liabilities
Equity
TOTAL LIABILITIES AND EQUITY
NET INTEREST INCOME/ATA
of 2008. Nonetheless, net interest income on average
total assets in Mexico increased to 5.65% in pesos,
compared to 5.53% in the previous quarter. This
improvement, together with an increase in business
volume, contributed to a 6.0% increase in net
interest income in local currency. South America is
reporting a 16.2% rise in net interest income at
constant exchange rates due to a higher volume of
lending and deposits, and the positive development
of spreads. Lastly, in the United States net interest
income grew 3.6% in local currency based on the
higher balance of lending and an increase in
deposits.
Gross income
In the first quarter of 2009 net fees and
commissions contributed €1,079m, compared to
1 st Quarter 09 4 th Quarter 08 3 rd Quarter 08 2 nd Quarter 08
% of ATA %Yield/Cost
% of ATA %Yield/Cost % of ATA %Yield/Cost % of ATA %Yield/Cost
3.0 2.15 2.9 2.98 2.9 3.48 2.4 3.74
24.2 3.38 23.7 3.43 21.7 3.89 22.6 3.97
5.3 2.86 6.0 3.42 6.6 4.61 6.1 4.51
61.5 6.40 60.9 7.29 62.5 7.55 62.8 7.30
41.3 5.16 40.0 6.11 42.3 6.07 43.6 5.90
36.4 5.38 36.6 6.08 39.3 5.93 40.6 5.79
4.9 3.54 3.4 6.46 3.0 7.83 3.0 7.51
20.2 8.94 21.0 9.53 20.1 10.66 19.2 10.47
6.0 0.36 6.5 0.71 6.3 0.82 6.1 0.65
100.0 4.99 100.0 5.59 100.0 6.02 100.0 5.89
13.4 4.01 14.9 4.59 15.1 4.95 13.9 5.10
44.8 2.46 45.8 3.46 46.3 3.35 46.7 3.32
21.0 1.94 21.0 3.06 22.3 2.77 23.3 3.01
16.4 2.15 16.0 2.87 16.5 2.80 16.4 2.59
4.7 1.23 5.0 3.70 5.7 2.69 6.9 4.00
23.7 2.92 24.8 3.79 24.1 3.94 23.3 3.61
23.4 3.57 22.1 4.24 22.7 5.48 23.6 5.15
13.4 0.69 12.3 1.29 10.7 1.36 10.5 1.40
5.1 - 5.0 - 5.2 - 5.4 -
100.0 2.57 100.0 3.36 100.0 3.69 100.0 3.62
2.42 2.23 2.33 2.26
€1,131m a year earlier. These revenues continue to
be affected by fees on mutual funds and pensions
(down 16.8%), although the rate of fall has slowed
since the fourth quarter of 2008. Nonetheless fees
and commissions on banking services are practically
at the same level as a year ago, with a slight rise of
0.5% year-on-year.
Net trading income came to €364m, dropping
38.4% compared to the first quarter last year when
it was particularly high because it included €125m
from the VISA IPO and the lower turnover this year
derived from the situation of the markets,
compensated to some extent by monetisation and
coverage strategies.
Dividend income contributed €41m in the quarter
(€56m in the same period last year) and income by
the equity method came to €4m. The latter was far
1Q09 GROUP INFORMATION
Earnings
9
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