it sept 13 web eng

8/12/2019 IT SEPT 13 WEB ENG

1/15

Quarterly Report Sep

Highlights (Amounts in thousands of )

30.09.13 30.09.12 Variatio

Business Volume

Total assets managed 169,792,453 172,835,910 (

On-balance sheet total assets 154,000,898 158,162,708 (

Equity 11,127,680 10,923,011

Adjusted customer deposits 85,012,621 84,443,212

Lending to customers (gross) 113,263,322 117,971,520 (

Solvency

Core capital EBA (%) 10.95 10.33Tier 1 (%) 11.14 10.56

Ratio BIS (%) 11.93 11.30

Leverage (%) 14.27 14.43

Risk Management

Total risks 149,915,307 156,863,528 (

Non-performing loans 17,748,286 12,247,927 4

Allowance for credit losses 8,454,715 5,355,030 5

Non performing loans ratio(%) 11.84 7.81

% Coverage for non-performing and writen-offs balances 58.29 60.92

% Coverage for non-performing balances excl writen-offs balances 47.64 43.72

% Coverage with guarantees 104.80 1 100.39

Earnings

Net interest income 1,856,161 2,103,554 (1

Gross income 2,819,150 2,916,463 (

Profit before provisions 1,532,727 1,639,272 (

Profit before tax 309,376 367,017 (1

Consolidated profit for the year 228,984 251,076 (

Net profit attributed to the Group 227,229 251,169 (

Net Return and Efficiency

Average total assets 155,631,745 149,576,910

Average total equity 10,812,267 10,384,053

ROA (%) 0.20 0.22

ROE (%) 2.80 3.23

Operating Efficiency (%) 41.57 40.31

Per share data

Final number of shares fully diluted (thousands) 2,007,9022

584,878

Average number of shares fully diluted (thousands) 1,971,7812

575,593

Share closing market price (euros) 3.97 4.624

(1

Market capitalization 7,969,3613

4,974,387 6

Share book value (euros) 6.05 20.94 (7Net earnings per share (euros) 0.125

20.435 (7

Dividend per share paid in the period (euros) - 0.024 (10


2/15

Quarterly Report

Balance Sheet

(Amounts in thousands of )

30.09.13 31.12.12 30.09.12

Assets

Cash and balances with central banks 1,767,907 2,117,182 1,695,518

Financial assets held for trading 2,782,895 2,096,851 2,055,437

Other financial assets at fair value through profit or loss 370,879 493,623 548,583

Investment Portfolio 21,106,358 21,857,472 20,138,875

Loans and receivables 110,719,913 114,444,133 118,534,846

Loans and advances to other debtors 105,470,433 108,809,293 113,309,645

Other loans and receivables 4,104,322 4,658,658 4,245,110

Of which interbank deposits 237,404 430,048 398,022

Fixed Income 1,145,158 976,182 980,091

Adjustments to financial assets on macro-hedging 158,873 222,647 175,260

Hedging derivatives 589,478 678,357 889,273

Non-current assets held for sale 5,881,382 4,896,644 5,153,225

Investments 797,862 811,356 866,835

Insurance contracts linked to pensions 141,080 144,530 168,974

Reinsurance assets 5,779 4,878 3,005

Tangible assets 1,885,574 1,892,725 1,970,365

Intangible assets 2,658,330 2,655,084 1,937,828

Tax assets 3,348,439 3,703,759 2,370,463

Other assets 1,786,149 1,598,877 1,654,221

Total Assets 154,000,898 157,618,118 158,162,708

Liabilities

Financial liabilities held for trading 1,013,066 1,491,141 1,466,583

Other financial liabilities at fair value through profit or loss 571,861 560,157 556,055

Finacial liabilities at amortised cost: 138,262,225 141,726,166 142,618,587

Liabilities of credit institutions 25,823,495 34,966,637 31,569,343

Of which interbank deposits 1,804,355 4,093,661 2,800,646

Customer deposits 93,418,919 79,830,212 81,681,433

Debt certificates including bonds 16,039,750 23,442,605 25,645,417

Subordinated liabilities 2,057,013 2,170,454 2,548,907

Other financial liabilities 923,048 1,316,258 1,173,487

Hedging derivatives 1,625,014 2,048,864 1,933,168

Insurance contract liabilities 370,663 347,502 238,441

Provisions for contingent exposures 473,262 508,047 467,786

Tax liabilities 386,872 461,230 450,454

Other liabilities 550,060 519,590 489,092

Total liabilities 143,253,023 147,662,697 148,220,166

Equity

Total Equity 11,127,680 10,797,878 10,923,011

Capital, reserves and retained earnings 10,900,451 13,258,901 10,671,842

Profit or loss for the period 227,229 (2,461,023) 251,169

Dividends paid and declared - - -

Valuation adjustments (427,232) (886,614) (1,022,778)

Minority interests 47,427 44,157 42,309

Net Asset Value 10,747,875 9,955,421 9,942,542

Total liabilities and equity 154 000 898 157 618 118 158 162 708


3/15

Quarterly Report Sep-13

Commercial Gap

(Amounts in millions of )

30.09.13

Lending to customers 105,470

Other lending -

Repos (6,517)

Total lending to customers net (ex repos) (a) 98,954

Current accounts 24,219

Term deposits 51,322

Valuation adjustments 254Subtotal customer deposits (ex repos) 75,796

Retail Commercial paper 1,023

Mediation loans (1) 6,902

Securitizations sold to third parties 576

Marketable securities distributed through the branch network 1,283

Tax collection accounts 464

Total customer deposits (b) 86,045

-

GAP (a-b) 12,909

LTD (a/b) 115%

(1) Funding from ICO and BEI public credit lines (prefunded for corporates loans)


4/15

Quarterly Report

Funds managed (Amounts in thousands of )

30.09.13 31.12.12

Customer deposit:

General government 8,746,805 7,410,601 10,

Other private sectors 73,277,983 67,249,082 66,

Residents 64,581,711 58,802,462 57,

Non residents 8,696,272 8,446,620 8,

Valuation adjustments (+/-) 254,960 233,576

Deposits at central counterparty entities 11,139,171 4,936,953 5,

Total customer deposits 93,418,919 79,830,212 81,

Unadjusted debt certificates including bonds: 15,694,342 22,846,880 24,

Bonds and other securities outstanding 14,165,510 15,740,074 16,

Commercial paper 1,528,832 7,106,806 7,

Valuation adjustments (+/-) 345,408 595,725

Total debt certificates including bonds 16,039,750 23,442,605 25,

Subordinated liabilities 2,057,013 2,170,454 2,

Total on-balance sheet funds (a) 111,515,682 105,443,271 109

Mutual funds 8,119,220 7,271,865 7,

Asset portfolio management 756,761 720,438

Pensions funds 5,122,856 4,914,876 4,

Insurance premiums 1,792,718 1,733,741 1,

Total other intermediated funds (b) 15,791,555 14,640,920 14,

Total funds managed (a+b) 127,307,237 120,084,191 124,

Retail funds (Amounts in euros thousands) 30.09.13 31.12.12

Demand deposits 24,218,803 22,449,180 23,

Time deposits 51,321,764 45,804,207 44,

Commercial paper distributed through the branch network 1,023,372 6,561,110 7,

Marketable securities distributed through the branch network (*) 1,283,102 1,303,879 1,

Adjustments and other customer deposits 7,165,580 6,932,927 7,

Total Retail Funds 85,012,621 83,051,303 84,

(*) Including mandatory convertible notes, preferred shares and subordinated debt distributed through the branch network.


5/15

Quarterly Report

Lending to customers (Amounts in thousands of )

30.09.13 31.12.12 30.09.12 9 mo

Lending to general government 3,902,881 3,839,449 4,025,991

Lending to other private sectors 109,111,758 113,226,801 113,713,284

Residents 99,254,238 103,025,775 103,095,865

Non residents 9,857,520 10,201,026 10,617,419

Total lending to customers 113,014,639 117,066,250 117,739,275

Other loans 248,683 232,652 232,245

Total lending to customers and others 113,263,322 117,298,902 117,971,520

Valuation adjustments (+/-) (7,792,889) (8,489,609) (4,661,875)

Total 105,470,433 108,809,293 113,309,645

Lending to customers by type (Amounts in thousands of ) 30.09.13 31.12.12 30.09.12 9 mo

Trade loans and discounts 3,170,308 3,740,553 3,689,289 (

Secured loans 46,637,599 54,023,003 58,184,968 ( Mortgage 45,366,807 52,299,261 56,318,709 (

Other 1,270,792 1,723,742 1,866,259 (

Repos 6,515,347 6,792,524 6,767,807

Term loans and other lending 37,091,948 36,301,223 34,435,705

Leasing 2,433,895 2,732,177 2,902,219 (

Doubtful assets 17,414,225 13,709,422 11,991,532

Total lending to customers 113,263,322 117,298,902 117,971,520


6/15


Risk Management Performance(Amounts in thousands of )

30.09.13 30.09.12 Amount %

Non performing loans

Balance at 1 January 13,976,733 7,323,272 6,653,461 90.9

Additions 7,990,561 6,138,344 1,852,217 30.2

Recoveries 2,729,142 2,416,516 312,626 12.9

Other changes * - 2,163,204 (2,163,204) (100.0)

Net variation 5,261,419 5,885,032 (623,613) (10.6)

% increase 37.6 80.4

Write-offs (1,489,866) (960,377) (529,489) 55.1

Balance at 30 September 17,748,286 12,247,927 5,500,359 44.9

* Mainly Banco Pastor

30.09.13 30.09.12 Amount %

Credit loss allowances

Balance at 1 January 9,146,044 2,530,076 6,615,968 >

Annual provision

Gross 4,722,599 2,320,677 2,401,922 >

Recoveries (3,723,532) (1,268,130) (2,455,402) >

Net 999,067 1,052,547 (53,480) (5.1)

Other variations * (202,320) 2,732,466 (2,934,786)

Writte-offs (1,488,076) (960,059) (528,017) 55.0

Balance at 30 September 8,454,715 5,355,030 3,099,685 57.9

Of which sub-standard risk provisions 834,124 1,042,187 (208,063) (20.0)

* Mainly Banco Pastor

Specific General Country risk Total

Balance at 1 January 9,143,856 - 2,188 9,146,044

Net provisions 999,599 - (532) 999,067

Amount used 1,488,076 - - 1,488,076

Other variations and transfers (202,317) - (3) (202,320)

Balance at 30 September 8,453,062 - 1,653 8,454,715

30.09.13 30.09.12 Amount %

Risk quality measures (%):

Total risks 149,915,307 156,863,528 (6,948,221) (4.4)

Nonperformance (Nonperforming loans/ Total risks) 11.84 7.81 4.03

Credit risk premium 1.01 1.11 (0.10)

Pre-provision margin over lending 1.97 2.04 (0.07)

30.09.13

Coverage by type of non-performing balance:

Non-performing balances without mortgage guarantee 4,235,953

Non-performing balances with mortgage guarantee 13,512,333

Value of guarantees (incuding haircuts) 10,362,313

Total non-performing balances 17,748,286

Variation

Variation

Variation


7/15


Solvency - EBA (Amounts in thousands of ) 30.09.13 30.09.12

Capital 6,598,272 3,783,867

Reserves 3,875,627 6,578,483

Convertibles 1,664,598 1,940,604

Minority interest 46,762 45,379

Deductions (3,054,093) (2,550,692)

Total core capital EBA 9,131,165 9,797,642

Core capital EBA (%) 10.95 10.33

Preffered shares* 162,390 215,408

Total Own funds Tier 1 9,293,555 10,013,050

Ratio Tier 1 (%) 11.14 10.56

Own funds BIS computable 9,945,675 10,718,509

Ratio BIS (%) 11.93 11.30

Leverage (1) 14.27 14.43

Total risk weighted assets 83,399,033 94,837,602

from which credit risk 75,923,314 86,699,743

from which operational risk 6,782,694 7,132,336

from which market risk 693,025 1,005,523

* Includes MCN

(1) Calculated with data as of each period end


8/15


Equity (Amounts in thousands of )

Capital &

reserves

Valuation

adjustments

Minority

interests

Net Asset

Value

Balance at 12/31/2012 10,797,878 (886,614) 44,157 9,955,421

Capital raise 92,134 - - 92,134

Variation in treasury stock 134,267 - - 134,267

Gain on treasury stock transactions (35,121) - - (35,121)

Actuarial differences 1,041 - - 1,041

Remuneration of mandatory convertible debentures (55,781) - - (55,781)

Consolidation operations and other (net) (34,790) - (132) (34,922)

Corporate actions 823 - - 823

Value adjustments - 459,382 1,647 461,029

Net profit at 31 30 September 2013 227,229 - 1,755 228,984

Dividends paid/announced in 2013 - - - -

Balance at 30/09/2013 11,127,680 (427,232) 47,427 10,747,875

Mandatory convertible notes(Amounts in thousands of )

Amount

Balance sheet

consideration

Conversion

price

Conversion

date

BSOC I/2012 814,307 Subordinated debt

Floating atmarket price.

Floor:3,85 April 2018

BSOC II/2012 30,631 Equity

Fixed price:

17,85 October 2013

647,105 Equity

Fixed price:

18,20 November 2015

BSOC III/2012 156,000 Subordinated debt

Floating at

market price.

Floor:2,5 March 2014

BSOC IV/2012 50,000 Subordinated debt

Floating at

market price.

Floor:2,5

1/3 Dec. 2013

1/3 June 2014

1/3 Dec. 2014

TOTAL 1,698,043


9/15

Quarterly Report

Consolidated income and profitability

30.09.13 30.09.12 Variation % 30.09.13 30.09.12 Va

Interest and similar income 3,787,395 4,158,906 (8.9) 3.24 3.71

- Interest expense and similar charges 1,931,234 2,055,352 (6.0) 1.65 1.83

=Net interest income 1,856,161 2,103,554 (11.8) 1.59 1.88

+ Return on equity instruments 14,207 3,229 > 0.01 -

+Share of results of entities accounted for using

the equity method 21,727 16,495 31.7 0.02 0.01

+Net fees and commissions 582,823 601,401 (3.1) 0.50 0.54

Gains or losses on financial assets and liabilities (net) 333,940 242,257 37.8 0.29 0.22

Exchange differences (net) 40,661 42,647 (4.7) 0.03 0.04

Other operating results (net) (30,369) (93,120) (67.4) (0.02) (0.09)

=Gross operating income 2,819,150 2,916,463 (3.3) 2.42 2.60-Administrative expenses: 1,171,788 1,175,732 (0.3) 1.00 1.05

Personnel expenses 701,666 705,366 (0.5) 0.60 0.63

Other general administrative expenses 470,122 470,366 (0.1) 0.40 0.42

- Depreciation & amortisation 114,635 101,459 13.0 0.11 0.09

= Net Operating Income (Pre-provision Profit) 1,532,727 1,639,272 (6.5) 1.31 1.46

-Financial asset impairment losses (net) 816,706 990,953 (17.6) 0.70 0.88

-Impairment of other assets 657,789 278,780 > 0.56 0.25

Gains/ (Losses) on assets held for sale (net) 251,144 (2,522) 0.22 -

=Profit before tax 309,376 367,017 (15.7) 0.27 0.33

- Income tax 80,392 115,941 (30.7) 0.07 0.11

Gains/ Loss from discontinued operations (net) - - - -

=Consolidated profit for the year 228,984 251,076 (8.8) 0.20 0.22

- Profit/ Loss attributed to minority interests 1,755 (93) - -

=Profit/ Loss attributed to the controlling company 227,229 251,169 (9.5) 0.20 0.22

Net Return on Risk Weighted Assets (RORWA) (%) 0.19 0.20

Net Return on Equity (ROE) (%) 2.80 3.23

Operating efficiency ratio (%) 41.57 40.31

In Euro Million:

Average Total Assets 155,632 149,577

Average Risk Weighted Assets (RWA) 87,466 94,562

Average Equity 10,812 10,384

(Annualized % of ATA(Amounts in thousands of Euros)


10/15

Quarterly Report Se

Quarterly P&L(Amounts in thousands of Euros)

III IV I II III

Interest and similar income 1,375,087 1,337,507 1,296,640 1,276,911 1,213

- Interest expense and similar charges 707,386 722,305 704,071 617,010 610

=Net interest income 667,701 615,202 592,569 659,901 603

+ Return on equity instruments 867 877 5,539 5,053 3


the equity method 2,648 6,575 4,922 6,731 10

+Net fees and commissions 191,878 192,269 190,285 197,767 194

Gains or losses on financial assets and liabilities (net) 53,102 62,580 41,821 134,658 157

Exchange differences (net) 14,794 12,501 12,490 13,641 14

Other operating results (net) (40,281) (28,651) (20,192) (17,087) 6

=Gross operating income 890,709 861,353 827,434 1,000,664 991

-Administrative expenses: 395,417 428,991 386,018 393,434 392

Personnel expenses 237,882 244,368 230,707 236,248 234

Other general administrative expenses 157,535 184,623 155,311 157,186 157

- Depreciation & amortisation 34,503 55,260 36,479 39,528 38

= Net Operating Income (Pre-provision Profit) 460,789 377,102 404,937 567,702 560

-Financial asset impairment losses (net) 252,425 3,356,767 249,654 252,874 314

-Impairment of other assets 83,988 1,031,727 198,108 265,709 180

Gains/ (Losses) on assets held for sale (net) (1,004) 152,656 193,875 34,268 9

=Profit before tax 123,372 (3,858,736) 151,050 83,387 74

- Income tax 48,002 (1,146,717) 46,385 16,444 17

Gains/ Loss from discontinued operations (net) - - - -

=Consolidated profit for the year 75,370 (2,712,019) 104,665 66,943 57- Profit/ Loss attributed to minority interests (208) 173 443 805

=Profit/ Loss attributed to the controlling company 75,578 (2,712,192) 104,222 66,138 56

2012 2013


11/15

Quarterly Report Se

Quarterly profitability

III IV I II III

Interest and similar income 3.58 3.43 3.33 3.25 3

- Interest expense and similar charges 1.84 1.85 1.81 1.57 1

=Net interest income 1.74 1.58 1.52 1.68 1

+ Return on equity instruments - - 0.01 0.01 0


the equity method 0.01 0.02 0.01 0.02 0

+Net fees and commissions 0.50 0.49 0.49 0.50 0

Gains or losses on financial assets and liabilities (net) 0.14 0.16 0.11 0.34 0

Exchange differences (net) 0.04 0.03 0.03 0.04 0

Other operating results (net) (0.11) (0.07) (0.05) (0.04) 0

=Gross operating income 2.32 2.21 2.12 2.55 2

-Administrative expenses: 1.03 1.10 0.99 1.00 1

Personnel expenses 0.62 0.63 0.59 0.60 0

Other general administrative expenses 0.41 0.47 0.40 0.40 0

- Depreciation & amortisation 0.09 0.14 0.09 0.10 0

= Net Operating Income (Pre-provision Profit) 1.20 0.97 1.04 1.45 1

-Financial asset impairment losses (net) 0.66 8.62 0.64 0.65 0

-Impairment of other assets 0.22 2.65 0.51 0.68 0

Gains/ (Losses) on assets held for sale (net) - 0.39 0.50 0.09 0

=Profit before tax 0.32 (9.90) 0.39 0.21 0

- Income tax 0.12 (2.94) 0.12 0.04 0Gains/ Loss from discontinued operations (net) - - - -

=Consolidated profit for the year 0.20 (6.96) 0.27 0.17 0

- Profit/ Loss attributed to minority interests - - - -

=Profit/ Loss attributed to the controlling company 0.20 (6.96) 0.27 0.17 0

Net Return on Risk Weighted Assets (RORWA) (%) 0.31 (11.38) 0.12 0.30 0

Net Return on Equity (ROE) (%) 2.83 (96.89) 3.89 2.45 2

Operating efficiency ratio (%) 44.39 49.80 46.65 39.32 39

In Euro Million:

Average Total Assets 153,487 155,875 155,770 157,223 153,

Average Risk Weighted Assets (RWA) 96,007 95,296 88,730 88,160 85,Average Equity 10,685 11,197 10,719 10,799 10,

(Amounts in % ATA, rates annualized)

2012 2013


12/15

Quarterly Report

Yields and Costs(Amounts in %, rates annualized)

30.09.13 30.09.12

Average

balance

Weight

(%)

Income or

expense

Average

balance

Weight

(%)

Inco

exp

Financial system 6,054,926 3.89 19,942 0.44 4,339,577 2.90

Lending to customers (a) 103,788,415 66.69 3,223,212 4.14 106,926,672 71.49 3,

Securities portfolio 25,755,699 16.55 538,683 2.79 20,044,485 13.40

Other earning assets 20,032,705 12.87 5,558 0.04 18,266,176 12.21

Total earning assets (b) 155,631,745 100.00 3,787,395 3.24 149,576,910 100.00 4,

Financial system 28,831,731 18.53 282,460 1.31 30,883,574 20.65

Customer funds (c) 90,660,765 58.26 1,229,151 1.81 80,499,630 53.82 1,

Demand accounts 15,668,124 10.07 52,812 0.45 15,426,463 10.31

Savings and time deposits 67,155,918 43.15 1,087,324 2.16 56,763,407 37.95 1,

Deposits at central counterparty entities 5,351,437 3.44 14,377 0.36 3,208,706 2.15

Retail commercial paper 2,485,286 1.60 74,638 4.00 5,101,054 3.41

Marketable debt securities & other 19,517,260 12.54 409,744 2.80 22,720,975 15.19

Other interest-bearing liabilities 375,084 0.24 9,879 3.51 352,235 0.24

Other funds 5,434,638 3.48 - - 4,736,443 3.16

Equity 10,812,267 6.95 - - 10,384,053 6.94

Total funds (d) 155,631,745 100.00 1,931,234 1.65 149,576,910 100.00 2,

Customer spread (a-c) 2.33

Spread (b-d)1.59

Average rate

(%)


13/15

Quarterly Report Se

Quarterly Yields and Costs

Weight Yield Weight Yield Weight Yield Weight Yield Weight Y

Financial system 3.05 0.69 4.15 0.57 3.61 0.45 3.99 0.43 4.07

Lending to customers (a) 70.88 4.43 69.69 4.31 67.08 4.23 66.13 4.15 66.87

Securities portfolio 13.21 3.18 13.78 2.90 16.69 2.81 17.15 2.81 15.79

Other assets 12.86 0.03 12.38 0.04 12.62 0.04 12.73 0.04 13.27

Total earning assets (b) 100.00 3.58 100.00 3.43 100.00 3.33 100.00 3.25 100.00

Financial system 23.76 1.43 22.88 1.37 19.11 1.37 18.76 1.27 17.70

Customer funds (c) 51.43 2.18 53.81 2.17 56.66 1.99 58.42 1.74 59.67

Demand accounts 10.22 0.42 9.87 0.47 9.75 0.45 10.05 0.45 10.40

Savings and time deposits 35.04 2.55 37.28 2.50 40.66 2.35 43.46 2.10 45.36

Deposits at central counterparty entities 1.61 0.25 2.28 0.41 3.29 0.29 3.74 0.39 3.28

Retail commercial paper 4.57 3.99 4.38 4.09 2.96 4.03 1.17 3.97 0.63

Marketable debt securities & other 14.01 2.56 12.50 2.85 12.85 3.16 12.37 2.46 12.43

Other interest-bearing liabilities 0.25 8.70 0.24 6.96 0.25 3.90 0.24 3.34 0.23

Other funds 3.59 - 3.39 - 4.25 - 3.34 - 2.90

Equity 6.96 - 7.18 - 6.88 - 6.87 - 7.07

Total funds (d) 100.00 1.84 100.00 1.85 100.00 1.81 100.00 1.57 100.00

Customer spread (a-c) 2.25 2.14 2.24 2.41Spread (b-d) 1.74 1.58 1.52 1.68

(Amounts in %, rates annualized)

III

2013

IIIII IV I

2012


14/15

Quarterly Report Sep-

Net fees and commision income(Amounts in thousands of )

30.09.13 30.09.12 Variation % 30.09.13 30.09.

Banking services 555,020 565,598 (1.9) 95.2 94

Portfolio administration 70,534 57,631 22.4 12.1 9

Securities portfolios 21,412 20,792 3.0 3.7 3

Asset portfolio management 2,711 2,221 22.1 0.5 0

Mutual funds 33,369 29,555 12.9 5.7 4

Pension plans 13,042 5,063 > 2.2 0

Other banking services 403,847 428,937 (5.8) 69.3 71

Securities and foreign currency purchase and sal 8,387 7,616 10.1 1.4 1

Demand account administration 88,155 80,642 9.3 15.1 13

Provision of collateral and other guarantees 111,478 109,273 2.0 19.1 18

Asset transaction services 29,815 34,125 (12.6) 5.1 5

Collection and payment handling 61,364 67,196 (8.7) 10.6 11

Other 104,648 130,085 (19.6) 18.0 21

Means of payment 80,639 79,030 2.0 13.8 13

Defaults 27,803 35,803 (22.3) 4.8 6

Total 582,823 601,401 (3.1) 100.0 100

Weights %


15/15

Quarterly Report Sep

Personnel and general expenses(Amounts in thousand of )

30.09.13 30.09.12 Variation % 30.09.13 30.09

Personnel expenses: 701,666 705,366 (0.5) 59.9 60

Wages and salaries 529,024 537,092 (1.5) 45.2 45

Social security charges 133,385 129,631 2.9 11.4 11

Other personnel expenses 20,093 20,798 (3.4) 1.7 1

Pensions 19,164 17,845 7.4 1.6 1

General expenses 470,122 470,366 (0.1) 40.1 40

Rentals and commons services 109,103 118,307 (7.8) 9.3 10

Communications 23,571 26,843 (12.2) 2.0 2

Maintenance of premises and equipment 36,829 33,509 9.9 3.1 2

IT and other technical expenses 107,520 102,859 4.5 9.2 8

Stationery and office supply 6,211 6,408 (3.1) 0.5 0

Technical reports and legal expenses 31,876 30,335 5.1 2.7 2

Advertising and publicity 25,119 32,031 (21.6) 2.1 2

Insurance 5,570 7,933 (29.8) 0.5 0

Security and fund transport services 16,331 17,745 (8.0) 1.4 1

Travel 6,673 7,832 (14.8) 0.6 0

VAT and others 84,228 64,958 29.7 7.2 5

Other general expenses 17,091 21,606 (20.9) 1.5 1

Total 1,171,788 1,175,732 (0.3) 100.0 100

Weights %

it sept 13 web eng

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