10
GROUP INFORMATION 4Q09
Earnings
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
the customer spread has fallen slightly compared to
the third quarter (by 3 basis points) to 2.80%. At
the same time the risk on the balance sheet is lower
because consumer finance now plays a lesser role
and low-cost funds have increased. This spread is
compatible with the year-on-year increase of 3.2% in
4 th Quarter 09 3 rd Quarter 09 2 nd Quarter 09 1 st Quarter 09
%of ATA %Yield/Cost
%of ATA %Yield/Cost %of ATA %Yield/Cost %of ATA %Yield/Cost
3.5 1.08 3.8 1.02 3.5 1.34 3.0 2.15
26.7 2.82 25.8 2.88 25.1 3.15 24.2 3.38
4.6 1.97 4.6 2.14 4.8 3.62 5.3 2.86
59.8 5.20 60.2 5.09 60.9 5.78 61.5 6.40
40.6 3.41 40.9 3.68 41.0 4.41 41.3 5.16
36.0 3.50 36.2 3.82 36.4 4.44 36.4 5.38
4.5 2.77 4.7 2.64 4.7 4.16 4.9 3.54
19.2 8.97 19.3 8.07 19.8 8.62 20.2 8.94
5.5 0.29 5.7 0.37 5.8 0.51 6.0 0.36
100.0 4.01 100.0 3.97 100.0 4.56 100.0 4.99
14.0 2.16 14.1 2.16 13.1 3.35 13.4 4.01
46.3 1.11 46.1 1.29 45.5 1.72 44.8 2.46
21.3 0.61 21.6 0.85 21.0 1.22 21.0 1.94
14.8 0.83 15.8 1.06 15.5 1.53 16.4 2.15
6.5 0.12 5.8 0.27 5.5 0.35 4.7 1.23
25.0 1.54 24.5 1.67 24.4 2.14 23.7 2.92
21.7 1.87 21.7 2.12 22.6 2.59 23.4 3.57
12.2 1.18 12.5 0.75 13.5 0.80 13.4 0.69
5.7 - 5.7 - 5.4 - 5.1 -
100.0 1.37 100.0 1.45 100.0 1.91 100.0 2.57
2.64 2.52 2.65 2.42
net interest income in Spain & Portugal and in those
units of Wholesale Banking & Asset Management
that operate in the euro zone. Another significant
measure of profitability is the ratio of net interest
income to average total assets (NII/ATA). This was
stable in the first three quarters of 2009 and
increased slightly in the fourth quarter at all Spanish
units (retail businesses and CBB).
In Mexico interbank rates fell sharply in the first half
of the year but stabilised in the third and fourth
quarters (the average TIIE was 4.9%). This stability
was reflected in the cost of funds, which hardly
changed in the last quarter (down 5 basis points to
1.9%). The yield on loans is still affected by the
change in the portfolio mix (with less consumer
finance and credit card lending) and therefore it
declined 13 basis points compared to the third quarter.
Consequently customer spreads also remain practically
stable at 11.35% (11.43% in the previous quarter).
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