Consolidated income statement: quarterly evolution
(Million euros)
NET INTEREST INCOME
Net fees and commissions
Net trading income
Dividend income
Income by the equity method
Other operating income and expenses
GROSS INCOME
Operating costs
Personnel expenses
General and administrative expenses
Depreciation and amortization
OPERATING INCOME
Impairment on financial assets (net)
Provisions (net)
Other gains (losses)
INCOME BEFORE TAX
Income tax
NET INCOME
Minority interests
NET ATTRIBUTABLE PROFIT
One-off operations (1)
NET ATTRIBUTABLE PROFIT (excluding
one-off operations)
EARNING PER SHARE
Earning per share (euros)
Earning per share excluding one-off
operations (euros)
incorporation of Guaranty Financial Group in
August 2009 had almost no impact on earnings.
The above circumstances helped the Group to
continue generating core capital organically and the
amount is higher than anticipated.
Net interest income
Net interest income is the main support of the Group’s
revenues. In the third quarter it came to €3,434m, an
3Q
2009 2008
2Q 1Q
(1) In 2008, capital gains from Bradesco in the first quarter, provisions for non-recurrent early retirements in the second and fourth quarters and provision for the loss originated by
the Madoff fraud in the fourth quarter. In the third quarter of 2009, capital gains on the sale and lease-back of properties which have been allotted to generic provisions for NPLs.
increase of 12.9% over the same quarter of last year.
The amount for the first nine months is €10,292m, an
increase of 19.7% compared to €8,599m in the same
period last year (up 23.5% at constant exchange rates).
The main reasons behind this growth are the active
commercial policies of the business areas and the
appropriate management of structural risks on the
balance sheet.
4Q
3,434 3,586 3,272 3,088 3,043 2,829 2,726
1,086 1,102 1,079 1,105 1,138 1,153 1,131
325 435 364 139 260 568 591
42 207 41 45 161 186 56
(21) 22 4 25 95 34 139
130 140 129 157 96 83 130
4,998 5,491 4,889 4,558 4,794 4,854 4,772
(2,017) (2,017) (2,070) (2,203) (2,099) (2,069) (2,084)
(1,127) (1,130) (1,161) (1,188) (1,185) (1,165) (1,178)
(716) (709) (734) (827) (740) (743) (730)
(174) (178) (175) (187) (174) (161) (177)
2,981 3,474 2,819 2,355 2,695 2,784 2,688
(1,741) (1,029) (916) (859) (917) (607) (557)
(82) (48) (104) (837) 18 (467) (145)
789 (228) 36 (30) 11 (2) 796
1,947 2,168 1,834 629 1,807 1,708 2,783
(457) (480) (480) (12) (316) (476) (738)
1,490 1,688 1,354 617 1,491 1,232 2,045
(110) (127) (116) (98) (99) (75) (94)
1,380 1,561 1,238 519 1,392 1,157 1,951
- - - (575) - (329) 509
1,380 1,561 1,238 1,094 1,392 1,486 1,442
0.37 0.42 0.34 0.14 0.38 0.31 0.53
0.37 0.42 0.34 0.30 0.38 0.40 0.39
In recent quarters commercial policies have focused on
three factors: passing on the higher cost of credit risk
3Q
3Q09 GROUP INFORMATION
Earnings
2Q
1Q
7
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