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)
excluded, the year-on-year decline in profit is 4.4% (or
1.7% if exchange-rate effects are also omitted).
Once again earnings were supported by operating
income, which came to €3,474m in the second
quarter, setting a new record for a single quarter.
Compared to the €2,784m obtained in same quarter
last year, the increase was 24.8%. The main factors
behind this increase were the 26.7% rise in net
interest income and the improvement in operating
costs, which continue falling (down 2.5%
year-on-year).
In the first half, operating income rose 15.0%
year-on-year to €6,293m for the same reasons. Net
2Q
2009 2008
(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.
1Q
interest income grew strongly (23.5%) and operating
costs fell 1.6% compared to a year earlier. This
Net attributable profit (1)
(Million euros)
1,442 1,486
4Q
3,586 3,272 3,088 3,043 2,829 2,726
1,102 1,079 1,105 1,138 1,153 1,131
435 364 139 260 568 591
207 41 45 161 186 56
22 4 25 95 34 139
140 129 157 96 83 130
5,491 4,889 4,558 4,794 4,854 4,772
(2,017) (2,070) (2,203) (2,099) (2,069) (2,084)
(1,130) (1,161) (1,188) (1,185) (1,165) (1,178)
(709) (734) (827) (740) (743) (730)
(178) (175) (187) (174) (161) (177)
3,474 2,819 2,355 2,695 2,784 2,688
(1,029) (916) (859) (917) (607) (557)
(48) (104) (837) 18 (467) (145)
(228) 36 (30) 11 (2) 796
2,168 1,834 629 1,807 1,708 2,783
(480) (480) (12) (316) (476) (738)
1,688 1,354 617 1,491 1,232 2,045
(127) (116) (98) (99) (75) (94)
1,561 1,238 519 1,392 1,157 1,951
- - (575) - (329) 509
1,561 1,238 1,094 1,392 1,486 1,442
0.42 0.34 0.14 0.38 0.31 0.53
0.42 0.34 0.30 0.38 0.40 0.39
1Q 2Q 3Q 4Q
1Q
2Q
2008
2009
(1) Excluding results of one-off operations.
(2) At constant exchange rate: –1.7%.
3Q
1,392
–4.4% (2)
2,928 2,799
2Q09 GROUP INFORMATION
Earnings
1,094
2Q
1,238
1Q
1,561
7
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