Change

1Q '17

1Q '16

Amount

%

2016

Key consolidated data

Balance sheet (€ million)

Total assets

1,351,956

1,324,200

27,756

2.1

1,339,125

Net customer loans

795,312

773,452

21,859

2.8

790,470

Customer deposits

705,786

670,627

35,159

5.2

691,111

Customer funds

898,110

836,377

61,733

7.4

873,618

Total equity

104,869

98,781

6,088

6.2

102,699

Income statement (€ million)

Net interest income

8,402

7,624

778

10.2

31,089

Gross income

12,029

10,730

1,299

12.1

43,853

Net operating income

6,486

5,572

914

16.4

22,766

Underlying profit before taxes

3,311

2,732

579

21.2

11,288

Underlying attributable profit to the Group

1,867

1,633

234

14.3

6,621

Attributable profit to the Group

1,867

1,633

234

14.3

6,204

(*).- Change in constant euro

Net interest income: +4.0%; Gross income: +6.2%; Net operating income: +8.9%; Underlying attributable profit: +10.0%; Attributable profit: +10.0%

EPS, profitability and efficiency (%)

Underlying EPS (euro) *

0.122

0.108

0.02

13.6

0.436

EPS (euro)

0.122

0.108

0.02

13.6

0.407

RoE

8.19

7.46

6.99

Underlying RoTE *

12.13

11.13

11.08

RoTE

12.13

11.13

10.38

RoA

0.65

0.58

0.56

Underlying RoRWA *

1.48

1.33

1.36

RoRWA

1.48

1.33

1.29

Efficiency ratio (with amortisations)

46.1

48.1

48.1

Solvency and NPL ratios (%)

CET1 fully-loaded

10.66

10.27

10.55

CET1 phase-in

12.12

12.36

12.53

NPL ratio

3.74

4.33

3.93

Coverage ratio

74.6

74.0

73.8

Market capitalisation and shares

Shares (millions)

14,582

14,434

148

1.0

14,582

Share price (euros)

5.745

3.874

1.871

48.3

4.959

Market capitalisation (€ million)

83,776

55,919

27,856

49.8

72,314

Tangible book value (euro)

4.26

4.07

4.22

Price / Tangible book value (X)

1.35

0.95

1.17

P/E ratio (X)

11.74

8.99

12.18

Other data

Number of shareholders

3,957,838

3,682,927

274,911

7.5

3,928,950

Number of employees

188,182

194,519

(6,337)

(3.3)

188,492

Number of branches

12,117

12,962

(845)

(6.5)

12,235

(*).- Excluding non-recurring net capital gains and provisionS

Note: The financial information in this report has not been audited, but it was approved by the Board of Directors at its meeting on April, 25 2017, following a favourable report from the Audit Committee on April, 19 2017. The Audit Committee verified that the information for 2017 was based on the same principles and practices as those used to draw up the annual financial statements.

€ million

Change

1Q 17

1Q 16

Amount

%

Net interest income

8,402

7,624

778

10.2

Net fee income

2,844

2,397

446

18.6

Gains (losses) on financial transactions

573

504

68

13.6

Other operating income

211

204

6

3.0

Dividends

41

44

(3)

(6.6)

Income from equity-accounted method

133

83

50

60.2

Other operating income/expenses

37

78

(41)

(52.7)

Gross income

12,029

10,730

1,299

12.1

Operating expenses

(5,543)

(5,158)

(386)

7.5

General administrative expenses

(4,915)

(4,572)

(343)

7.5

Personnel

(2,912)

(2,683)

(229)

8.5

Other general administrative expenses

(2,002)

(1,889)

(113)

6.0

Depreciation and amortisation

(629)

(586)

(43)

7.3

Net operating income

6,486

5,572

914

16.4

Net loan-loss provisions

(2,400)

(2,408)

9

(0.4)

Impairment losses on other assets

(68)

(44)

(24)

56.1

Other income

(707)

(389)

(318)

81.8

Underlying profit before taxes

3,311

2,732

579

21.2

Tax on profit

(1,125)

(810)

(315)

38.8

Underlying profit from continuing operations

2,186

1,922

265

13.8

Net profit from discontinued operations

-

-

-

-

Underlying consolidated profit

2,186

1,922

265

13.8

Minority interests

319

288

31

10.7

Underlying attributable profit to the Group

1,867

1,633

234

14.3

Net capital gains and provisions

-

-

-

-

Attributable profit to the Group

1,867

1,633

234

14.3

Underlying EPS (euros)

0.122

0.108

0.015

13.6

Underlying diluted EPS (euros)

0.122

0.107

0.015

13.7

EPS (euros)

0.122

0.108

0.015

13.6

Diluted EPS (euros)

0.122

0.107

0.015

13.7

Pro memoria:

Average total assets

1,353,495

1,335,115

18,380

1.4

Average stockholders' equity

91,171

87,571

3,600

4.1

Quarterly income statement

€ million

1Q 16

2Q 16

3Q 16

4Q 16

1Q 17

Net interest income

7,624

7,570

7,798

8,096

8,402

Net fee income

2,397

2,549

2,597

2,637

2,844

Gains (losses) on financial transactions

504

366

440

412

573

Other operating income

204

270

245

142

211

Dividends

44

209

37

124

41

Income from equity-accounted method

83

112

119

130

133

Other operating income/expenses

78

(51)

90

(112)

37

Gross income

10,730

10,755

11,080

11,288

12,029

Operating expenses

(5,158)

(5,227)

(5,250)

(5,453)

(5,543)

General administrative expenses

(4,572)

(4,632)

(4,692)

(4,828)

(4,915)

Personnel

(2,683)

(2,712)

(2,726)

(2,876)

(2,912)

Other general administrative expenses

(1,889)

(1,920)

(1,966)

(1,952)

(2,002)

Depreciation and amortisation

(586)

(595)

(558)

(626)

(629)

Net operating income

5,572

5,528

5,831

5,835

6,486

Net loan-loss provisions

(2,408)

(2,205)

(2,499)

(2,406)

(2,400)

Impairment losses on other assets

(44)

(29)

(16)

(159)

(68)

Other income

(389)

(515)

(376)

(432)

(707)

Underlying profit before taxes

2,732

2,779

2,940

2,838

3,311

Tax on profit

(810)

(915)

(904)

(767)

(1,125)

Underlying profit from continuing operations

1,922

1,864

2,036

2,071

2,186

Net profit from discontinued operations

-

0

(0)

0

-

Underlying consolidated profit

1,922

1,864

2,036

2,072

2,186

Minority interests

288

338

341

305

319

Underlying attributable profit to the Group

1,633

1,526

1,695

1,766

1,867

Net capital gains and provisions*

-

(248)

-

(169)

-

Attributable profit to the Group

1,633

1,278

1,695

1,598

1,867

Underlying EPS (euros)

0.108

0.100

0.112

0.116

0.122

Underlying diluted EPS (euros)

0.107

0.100

0.112

0.116

0.122

EPS (euros)

0.108

0.083

0.112

0.104

0.122

Diluted EPS (euros)

0.107

0.083

0.112

0.104

0.122

(*).- Including

- In 2Q'16, capital gains from the disposal of the stake in Visa Europe (€227 million) and restructuring costs (-€475 million).

- In 4Q'16 PPI UK (-€137 million) and restatement Santander Consumer USA (-€32 million).

Constant € million

Change 1Q 17 1Q 16 Amount %

Net interest income

8,402

8,080

322

4.0

Net fee income

2,844

2,536

307

12.1

Gains (losses) on financial transactions

573

501

72

14.4

Other operating income

211

213

(2)

(1.0)

Dividends

41

44

(3)

(7.7)

Income from equity-accounted method

133

90

43

47.8

Other operating income/expenses

37

78

(42)

(53.2)

Gross income

12,029

11,330

700

6.2

Operating expenses

(5,543)

(5,377)

(167)

3.1

General administrative expenses

(4,915)

(4,770)

(144)

3.0

Personnel

(2,912)

(2,798)

(115)

4.1

Other general administrative expenses

(2,002)

(1,973)

(30)

1.5

Depreciation and amortisation

(629)

(606)

(23)

3.7

Net operating income

6,486

5,953

533

8.9

Net loan-loss provisions

(2,400)

(2,640)

240

(9.1)

Impairment losses on other assets

(68)

(47)

(21)

46.0

Other income

(707)

(433)

(275)

63.5

Underlying profit before taxes

3,311

2,834

477

16.8

Tax on profit

(1,125)

(833)

(292)

35.0

Underlying profit from continuing operations

2,186

2,001

185

9.3

Net profit from discontinued operations

-

-

-

-

Underlying consolidated profit

2,186

2,001

185

9.3

Minority interests

319

304

15

5.0

Underlying attributable profit to the Group

1,867

1,697

170

10.0

Net capital gains and provisions

-

-

-

-

Attributable profit to the Group

1,867

1,697

170

10.0

Quarterly income statement

Constant € million

1Q 16

2Q 16

3Q 16

4Q 16

1Q 17

Net interest income

8,080

7,930

8,053

8,283

8,402

Net fee income

2,536

2,677

2,676

2,709

2,844

Gains (losses) on financial transactions

501

382

464

404

573

Other operating income

213

279

250

149

211

Dividends

44

211

37

131

41

Income from equity-accounted method

90

117

122

135

133

Other operating income/expenses

78

(50)

90

(118)

37

Gross income

11,330

11,268

11,442

11,544

12,029

Operating expenses

(5,377)

(5,410)

(5,393)

(5,572)

(5,543)

General administrative expenses

(4,770)

(4,798)

(4,821)

(4,936)

(4,915)

Personnel

(2,798)

(2,810)

(2,801)

(2,935)

(2,912)

Other general administrative expenses

(1,973)

(1,988)

(2,020)

(2,002)

(2,002)

Depreciation and amortisation

(606)

(612)

(572)

(636)

(629)

Net operating income

5,953

5,858

6,049

5,972

6,486

Net loan-loss provisions

(2,640)

(2,384)

(2,627)

(2,487)

(2,400)

Impairment losses on other assets

(47)

(30)

(16)

(158)

(68)

Other income

(433)

(543)

(376)

(446)

(707)

Underlying profit before taxes

2,834

2,900

3,031

2,880

3,311

Tax on profit

(833)

(956)

(932)

(770)

(1,125)

Underlying profit from continuing operations

2,001

1,944

2,099

2,111

2,186

Net profit from discontinued operations

-

0

(0)

0

-

Underlying consolidated profit

2,001

1,944

2,099

2,111

2,186

Minority interests

304

355

351

311

319

Underlying attributable profit to the Group

1,697

1,589

1,748

1,800

1,867

Net capital gains and provisions*

-

(258)

3

(161)

-

Attributable profit to the Group

1,697

1,331

1,751

1,639

1,867

(*).- Including

- In 2Q'16, capital gains from the disposal of the stake in Visa Europe and restructuring costs.

- In 4Q'16 PPI UK and restatement Santander Consumer USA.

Exchange rates: 1 euro / currency parity

Average

Period-end

1Q 17

1Q 16

31.03.17

31.12.16

31.03.16

US$

1.065

1.102

1.069

1.054

1.139

Pound sterling

0.860

0.770

0.856

0.856

0.792

Brazilian real

3.346

4.296

3.380

3.431

4.117

Mexican peso

21.577

19.877

20.018

21.772

19.590

Chilean peso

697.904

772.566

710.337

707.612

762.943

Argentine peso

16.682

15.890

16.424

16.705

16.666

Polish zloty

4.320

4.363

4.227

4.410

4.258

Net fee income

€ million

Change 1Q 17 1Q 16 Amount %

Fees from services

1,785

1,449

336

23.2

Mutual & pension funds

196

182

14

7.7

Securities and custody

270

224

46

20.5

Insurance

592

542

50

9.3

Net fee income

2,844

2,397

446

18.6

Personnel expenses

2,912

2,683

229

8.5

General expenses

2,002

1,889

113

6.0

Information technology

317

289

28

9.7

Communications

131

130

1

0.8

Advertising

169

146

23

15.6

Buildings and premises

449

437

12

2.7

Printed and office material

34

34

(1)

(1.8)

Taxes (other than profit tax)

124

119

5

4.1

Other expenses

779

733

45

6.2

Personnel and general expenses

4,915

4,572

343

7.5

Depreciation and amortisation

629

586

43

7.3

Total operating expenses

5,543

5,158

386

7.5

1Q 17 1Q 16 Amount %

Non performing loans

2,873

2,771

103

3.7

Country-risk

4

(3)

7

-

Recovery of written-off assets

(478)

(360)

(118)

32.9

Total

2,400

2,408

(9)

(0.4)

Change

31.03.17

31.03.16

Amount

%

31.12.16

Assets

Cash, cash balances at central banks and other demand deposits

74,804

67,545

7,259

10.7

76,454

Financial assets held for trading

143,109

151,550

(8,441)

(5.6)

148,187

Debt securities

46,944

50,060

(3,116)

(6.2)

48,922

Equity instruments

16,174

14,584

1,590

10.9

14,497

Loans and advances to customers

11,375

6,866

4,509

65.7

9,504

Loans and advances to central banks and credit institutions

3,449

3,397

52

1.5

3,221

Derivatives

65,167

76,643

(11,476)

(15.0)

72,043

Financial assets designated at fair value

46,026

48,771

(2,745)

(5.6)

31,609

Loans and advances to customers

17,865

13,884

3,981

28.7

17,596

Loans and advances to central banks and credit institutions

24,038

30,714

(6,676)

(21.7)

10,069

Other (debt securities an equity instruments)

4,123

4,173

(50)

(1.2)

3,944

Available-for-sale financial assets

118,195

118,298

(103)

(0.1)

116,774

Debt securities

112,946

113,656

(710)

(0.6)

111,287

Equity instruments

5,249

4,642

607

13.1

5,487

Loans and receivables

844,804

824,174

20,630

2.5

840,004

Debt securities

12,901

12,487

414

3.3

13,237

Loans and advances to customers

766,072

752,702

13,370

1.8

763,370

Loans and advances to central banks and credit institutions

65,831

58,985

6,846

11.6

63,397

Held-to-maturity investments

14,268

4,566

9,702

212.5

14,468

Investments in subsidaries, joint ventures and associates

5,275

3,350

1,925

57.5

4,836

Tangible assets

22,807

25,465

(2,658)

(10.4)

23,286

Intangible assets

29,645

28,693

952

3.3

29,421

o/w: goodwill

26,939

26,209

730

2.8

26,724

Other assets

53,023

51,788

1,235

2.4

54,086

Total assets

1,351,956

1,324,200

27,756

2.1

1,339,125

Liabilities and shareholders' equity

Financial liabilities held for trading

99,550

108,567

(9,017)

(8.3)

108,765

Customer deposits

10,649

9,570

1,079

11.3

9,996

Debt securities issued

-

-

-

-

-

Deposits by central banks and credit institutions

644

976

(332)

(34.0)

1,395

Derivatives

67,580

78,608

(11,028)

(14.0)

74,369

Other

20,677

19,413

1,264

6.5

23,005

Financial liabilities designated at fair value

56,606

63,404

(6,798)

(10.7)

40,263

Customer deposits

27,495

28,484

(989)

(3.5)

23,345

Debt securities issued

3,373

3,445

(72)

(2.1)

2,791

Deposits by central banks and credit institutions

25,738

31,474

(5,736)

(18.2)

14,127

Other

-

1

(1)

(100.0)

-

Financial liabilities measured at amortized cost

1,048,447

1,012,407

36,040

3.6

1,044,240

Customer deposits

667,642

632,573

35,069

5.5

657,770

Debt securities issued

218,019

218,143

(124)

(0.1)

226,078

Deposits by central banks and credit institutions

137,029

138,323

(1,294)

(0.9)

133,876

Other

25,757

23,368

2,389

10.2

26,516

Liabilities under insurance contracts

635

656

(21)

(3.2)

652

Provisions

14,411

14,292

119

0.8

14,459

Other liabilities

27,438

26,093

1,345

5.2

28,047

Total liabilities

1,247,087

1,225,419

21,668

1.8

1,236,426

Shareholders' equity

107,706

103,264

4,442

4.3

105,977

Capital stock

7,291

7,217

74

1.0

7,291

Reserves

100,215

94,414

5,801

6.1

94,149

Attributable profit to the Group

1,867

1,633

234

14.3

6,204

Less: dividends

(1,667)

-

(1,667)

-

(1,667)

Accumulated other comprehensive income

(15,122)

(15,949)

827

(5.2)

(15,039)

Minority interests

12,285

11,466

819

7.1

11,761

Total equity

104,869

98,781

6,088

6.2

102,699

Total liabilities and equity

1,351,956

1,324,200

27,756

2.1

1,339,125

Balance sheet

€ million

31.03.16

30.06.16

30.09.16

31.12.16

31.03.17

Assets

Cash, cash balances at central banks and other demand deposits

67,545

65,368

63,717

76,454

74,804

Financial assets held for trading

151,550

157,497

152,814

148,187

143,109

Debt securities

50,060

45,077

41,233

48,922

46,944

Equity instruments

14,584

14,237

14,764

14,497

16,174

Loans and advances to customers

6,866

8,747

9,390

9,504

11,375

Loans and advances to central banks and credit institutions

3,397

2,161

3,671

3,221

3,449

Derivatives

76,643

87,275

83,756

72,043

65,167

Financial assets designated at fair value

48,771

42,846

45,158

31,609

46,026

Loans and advances to customers

13,884

13,928

15,433

17,596

17,865

Loans and advances to central banks and credit institutions

30,714

24,810

25,645

10,069

24,038

Other (debt securities an equity instruments)

4,173

4,108

4,080

3,944

4,123

Available-for-sale financial assets

118,298

116,385

113,947

116,774

118,195

Debt securities

113,656

111,672

109,241

111,287

112,946

Equity instruments

4,642

4,713

4,706

5,487

5,249

Loans and receivables

824,174

842,878

828,539

840,004

844,804

Debt securities

12,487

13,672

13,396

13,237

12,901

Loans and advances to customers

752,702

760,781

748,467

763,370

766,072

Loans and advances to central banks and credit institutions

58,985

68,425

66,676

63,397

65,831

Held-to-maturity investments

4,566

4,820

12,276

14,468

14,268

Investments in subsidaries, joint ventures and associates

3,350

3,411

3,481

4,836

5,275

Tangible assets

25,465

26,314

25,979

23,286

22,807

Intangible assets

28,693

29,146

28,748

29,421

29,645

o/w: goodwill

26,209

26,541

26,148

26,724

26,939

Other assets

51,788

54,241

54,879

54,086

53,023

Total assets

1,324,200

1,342,906

1,329,538

1,339,125

1,351,956

Liabilities and shareholders' equity

Financial liabilities held for trading

108,567

118,582

116,249

108,765

99,550

Customer deposits

9,570

8,755

5,943

9,996

10,649

Debt securities issued

-

-

-

-

-

Deposits by central banks and credit institutions

976

960

2,393

1,395

644

Derivatives

78,608

87,254

85,407

74,369

67,580

Other

19,413

21,613

22,506

23,005

20,677

Financial liabilities designated at fair value

63,404

48,548

47,149

40,263

56,606

Customer deposits

28,484

25,425

24,465

23,345

27,495

Debt securities issued

3,445

2,995

2,965

2,791

3,373

Deposits by central banks and credit institutions

31,474

20,127

19,718

14,127

25,738

Other

1

1

1

-

-

Financial liabilities measured at amortized cost

1,012,407

1,031,650

1,021,138

1,044,240

1,048,447

Customer deposits

632,573

637,723

637,031

657,770

667,642

Debt securities issued

218,143

227,991

225,709

226,078

218,019

Deposits by central banks and credit institutions

138,323

138,366

134,590

133,876

137,029

Other

23,368

27,570

23,808

26,516

25,757

Liabilities under insurance contracts

656

644

665

652

635

Provisions

14,292

15,174

14,883

14,459

14,411

Other liabilities

26,093

27,962

28,332

28,047

27,438

Total liabilities

1,225,419

1,242,560

1,228,416

1,236,426

1,247,087

Shareholders' equity

103,264

103,637

105,221

105,977

107,706

Capital stock

7,217

7,217

7,217

7,291

7,291

Reserves

94,414

94,303

94,192

94,149

100,215

Attributable profit to the Group

1,633

2,911

4,606

6,204

1,867

Less: dividends

-

(794)

(794)

(1,667)

(1,667)

Accumulated other comprehensive income

(15,949)

(15,027)

(16,326)

(15,039)

(15,122)

Minority interests

11,466

11,736

12,227

11,761

12,285

Total equity

98,781

100,346

101,122

102,699

104,869

Total liabilities and equity

1,324,200

1,342,906

1,329,538

1,339,125

1,351,956

Customer loans

€ million

Change

31.03.17

31.03.16

Amount

%

31.12.16

Commercial bills

22,654

16,777

5,876

35.0

23,894

Secured loans

454,881

462,213

(7,332)

(1.6)

454,563

Other term loans

236,224

222,180

14,044

6.3

232,289

Finance leases

25,703

22,755

2,948

13.0

25,357

Receivable on demand

8,017

8,387

(371)

(4.4)

8,102

Credit cards receivable

21,306

19,222

2,084

10.8

21,363

Impaired assets

31,143

35,442

(4,298)

(12.1)

32,687

Gross customer loans (w/o repos)

799,927

786,976

12,952

1.6

798,254

Repos

18,866

12,631

6,234

49.4

16,609

Gross customer loans

818,793

799,607

19,186

2.4

814,863

Loan-loss allowances

23,481

26,155

(2,673)

(10.2)

24,393

Net customer loans

795,312

773,452

21,859

2.8

790,470

Banco Santander SA published this content on 26 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 April 2017 09:49:46 UTC.

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