14
GROUP INFORMATION 1Q09
Business activity
Year-on-year comparisons of items on the balance sheet
are no longer influenced by acquisitions. Nonetheless
off-balance-sheet funds are affected by the
nationalisation of pension funds in Argentina in the
fourth quarter of 2008 and by the sale of the business in
Miami in the second quarter of the same year.
Bank of Spain Circular 6/2008, dated 26th November,
required changes to the Group’s balance sheet that
reclassify some items, without changing shareholder
equity. It had a very limited effect on total assets and
this also applies to loans and customer funds on the
balance sheet. The most significant change occurs in
contingent liabilities, which no longer include credit
default swaps. The 2008 figures were recast in
accordance with this circular, including the above minor
variations, to provide a common basis for the
year-on-year comparisons.
Exchange rates had a slightly positive impact (about 0.3
percentage points) on year-on-year comparisons of the
balance sheet and business activity figures. This is
because in the last 12 months the depreciation of the
Mexican peso against the euro (10%) was offset by the
sharp rise in the US dollar (up 18.8%). We will also
provide comparisons at constant exchange rates for the
Total lending
(Million euros) 31-03-09
Δ%
31-03-08 31-12-08
Domestic sector
Public sector
Other domestic sectors
• Secured loans
• Commercial loans
• Financial leases
• Other term loans
• Credit card debtors
• Other demand and miscellaneous debtors
• Other financial assets
• Non performing loans
Non-domestic sector
Secured loans
Other loans
Non performing loans
TOTAL LENDING (GROSS)
Loan-loss provisions
TOTAL NET LENDING
main items because this helps to give a clearer picture of
business activity.
The Group’s total assets at 31-Mar-09 came to €543
billion, compared to €483 billion at the same point last
year. This was an increase of 12.5% and the amount
was very similar to the end of 2008.
Lending to customers
At the end of the first quarter gross lending to customers
came to €340 billion, rising 5.5% compared to €323
billion a year earlier (at constant exchange rates the
Total lending (gross)
(Billion euros)
273
March
March
March
2007 2008 2009
(1) At constant exchange rate: +5.0%.
207,036 (0.2) 207,479 210,080
18,249 11.0 16,446 17,599
188,786 (1.2) 191,033 192,481
105,445 0.0 105,411 105,832
7,475 (33.9) 11,313 9,543
7,354 (6.4) 7,853 7,702
54,239 (5.9) 57,638 55,448
1,471 (7.6) 1,593 1,971
3,622 36.0 2,663 3,474
2,292 (15.6) 2,714 3,029
6,889 272.9 1,847 5,483
133,205 15.8 115,039 132,591
40,739 42.1 28,662 39,390
89,149 5.5 84,476 90,326
3,317 74.4 1,901 2,875
340,241 5.5 322,518 342,671
(7,594) 4.8 (7,244) (7,412)
332,647 5.5 315,274 335,260
323
340
+5.5% (1)
To view a Ceros magazine you need to have JavaScript enabled in your browser and have the flash player 8 or higher installed. To install the latest flash player, click the icon above, install the flash plugin and then click here to refresh this page.