Variation

9M '16

9M '15

Amount

%

2015

Key consolidated data

Balance sheet (€ million)

Total assets

1,329,538

1,320,427

9,111

0.7

1,340,260

Net customer loans

773,290

777,020

(3,729)

(0.5)

790,848

Customer deposits

667,439

669,255

(1,816)

(0.3)

683,142

Managed and marketed customer funds

1,075,162

1,045,507

29,655

2.8

1,075,563

Total equity

101,122

98,687

2,435

2.5

98,753

Total managed and marketed funds

1,508,587

1,479,841

28,746

1.9

1,506,520

Underlying income statement* (€ million)

Net interest income

22,992

24,302

(1,309)

(5.4)

32,189

Gross income

32,740

34,378

(1,638)

(4.8)

45,272

Net operating income

17,106

18,229

(1,124)

(6.2)

23,702

Underlying profit before taxes

8,625

8,766

(141)

(1.6)

10,939

Underlying attributable profit to the Group

4,975

5,106

(131)

(2.6)

6,566

(*).- Currency-neutral basis

Net interest income: +2.2%; Gross income: +2.7%; Net operating income: +1.4%; Attributable profit: +8.4%

Underlying EPS, profitability and efficiency (%)

EPS (euro)

0.33

0.35

(0.02)

(5.9)

0.45

RoE

7.52

7.49

7.23

RoTE

11.19

11.42

10.99

RoA

0.59

0.61

0.58

RoRWA

1.37

1.35

1.30

Efficiency ratio (with amortisations)

47.8

47.0

47.6

Solvency and NPL ratios (%)

CET1 fully-loaded

10.47

9.85

10.05

CET1 phase-in

12.44

12.39

12.55

NPL ratio

4.15

4.50

4.36

Coverage ratio

72.7

71.1

73.1

Market capitalisation and shares

Shares (millions)

14,434

14,317

118

0.8

14,434

Share price (euros)

3.947

4.744

(0.797)

(16.8)

4.558

Market capitalisation (€ million)

56,973

67,918

(10,945)

(16.1)

65,792

Tangible book value (euro)

4.18

4.10

4.07

Price / Tangible book value (X)

0.94

1.16

1.12

P/E ratio (X)

9.02

10.19

10.23

Other data

Number of shareholders

3,920,700

3,209,138

711,562

22.2

3,573,277

Number of employees

189,675

191,504

(1,829)

(1.0)

193,863

Number of branches

12,391

12,901

(510)

(4.0)

13,030

Information on total profit **

Attributable profit to the Group (€ million)

4,606

5,941

(1,335)

(22.5)

5,966

EPS (euro)

0.30

0.41

(0.11)

(25.9)

0.40

RoE

7.10

8.41

6.57

RoTE

10.57

12.82

9.99

RoA

0.57

0.68

0.54

RoRWA

1.31

1.51

1.20

P/E ratio (X)

9.78

8.71

11.30

(*).- Excluding non-recurring net capital gains and provisions (9M'16: -€368 million; 9M'15: €835 million; 2015: -€600 million) (**).- Including non-recurring net capital gains and provisions (9M'16: -€368 million; 9M'15: €835 million; 2015: -€600 million)

Note: The financial information in this report was approved by the Executive Committee of Board of Directors at its meeting on October, 24 2016, following a favourable report from the Audit Committee on October, 20 2016.

€ million

Variation

9M '16

9M '15

Amount

%

Net interest income

22,992

24,302

(1,309)

(5.4)

Net fee income

7,543

7,584

(42)

(0.5)

Gains (losses) on financial transactions

1,311

1,702

(391)

(23.0)

Other operating income

894

790

104

13.2

Dividends

289

347

(58)

(16.8)

Income from equity-accounted method

314

293

21

7.1

Other operating income/expenses

291

149

142

94.8

Gross income

32,740

34,378

(1,638)

(4.8)

Operating expenses

(15,634)

(16,149)

514

(3.2)

General administrative expenses

(13,896)

(14,342)

446

(3.1)

Personnel

(8,121)

(8,308)

187

(2.3)

Other general administrative expenses

(5,775)

(6,034)

259

(4.3)

Depreciation and amortisation

(1,738)

(1,806)

68

(3.8)

Net operating income

17,106

18,229

(1,124)

(6.2)

Net loan-loss provisions

(7,112)

(7,550)

438

(5.8)

Impairment losses on other assets

(88)

(247)

159

(64.4)

Other income

(1,280)

(1,666)

385

(23.1)

Underlying profit before taxes

8,625

8,766

(141)

(1.6)

Tax on profit

(2,684)

(2,649)

(35)

1.3

Underlying profit from continuing operations

5,942

6,117

(176)

(2.9)

Net profit from discontinued operations

0

-

0

-

Underlying consolidated profit

5,942

6,117

(176)

(2.9)

Minority interests

967

1,011

(44)

(4.4)

Underlying attributable profit to the Group

4,975

5,106

(131)

(2.6)

Net capital gains and provisions*

(368)

835

(1,203)

-

Attributable profit to the Group

4,606

5,941

(1,335)

(22.5)

Underlying EPS (euros)

0.33

0.35

(0.02)

(5.9)

Underlying diluted EPS (euros)

0.33

0.35

(0.02)

(5.7)

EPS (euros)

0.30

0.41

(0.11)

(25.9)

Diluted EPS (euros)

0.30

0.41

(0.10)

(25.7)

Pro memoria:

Average total assets

1,335,554

1,340,924

(5,370)

(0.4)

Average stockholders' equity

88,235

90,861

(2,627)

(2.9)

(*).- In 9M'16, capital gains from the disposal of the stake in Visa Europe (€227 million), restructuring costs (-€475 million) and contribution to the SRF (-

€120 million). In 9M'15, net result of the reversal of tax liabilities in Brazil (€835 million).

Quarterly income statement

€ million

1Q 15

2Q 15

3Q 15

4Q 15

1Q 16

2Q 16

3Q 16

Net interest income

8,038

8,281

7,983

7,888

7,624

7,570

7,798

Net fee income

2,524

2,586

2,474

2,448

2,397

2,549

2,597

Gains (losses) on financial transactions

695

372

634

684

504

366

440

Other operating income

186

379

225

(126)

204

445

245

Dividends

33

239

75

107

44

209

37

Income from equity-accounted method

99

101

93

82

83

112

119

Other operating income/expenses

53

39

57

(315)

78

124

90

Gross income

11,444

11,618

11,316

10,894

10,730

10,929

11,080

Operating expenses

(5,377)

(5,429)

(5,342)

(5,422)

(5,158)

(5,227)

(5,250)

General administrative expenses

(4,785)

(4,826)

(4,731)

(4,810)

(4,572)

(4,632)

(4,692)

Personnel

(2,755)

(2,836)

(2,717)

(2,799)

(2,683)

(2,712)

(2,726)

Other general administrative expenses

(2,030)

(1,989)

(2,015)

(2,011)

(1,889)

(1,920)

(1,966)

Depreciation and amortisation

(592)

(603)

(611)

(612)

(586)

(595)

(558)

Net operating income

6,067

6,189

5,974

5,472

5,572

5,703

5,831

Net loan-loss provisions

(2,563)

(2,508)

(2,479)

(2,558)

(2,408)

(2,205)

(2,499)

Impairment losses on other assets

(60)

(78)

(110)

(215)

(44)

(29)

(16)

Other income

(454)

(605)

(606)

(526)

(389)

(515)

(376)

Underlying profit before taxes

2,990

2,998

2,778

2,173

2,732

2,954

2,940

Tax on profit

(922)

(939)

(787)

(471)

(810)

(970)

(904)

Underlying profit from continuing operations

2,067

2,059

1,991

1,702

1,922

1,984

2,036

Net profit from discontinued operations

0

0

(0)

-

-

0

(0)

Underlying consolidated profit

2,067

2,059

1,991

1,702

1,922

1,984

2,036

Minority interests

350

350

311

242

288

338

341

Underlying attributable profit to the Group

1,717

1,709

1,680

1,460

1,633

1,646

1,695

Net capital gains and provisions*

-

835

-

(1,435)

-

(368)

-

Attributable profit to the Group

1,717

2,544

1,680

25

1,633

1,278

1,695

Underlying EPS (euros)

0.12

0.12

0.11

0.10

0.11

0.11

0.11

Underlying diluted EPS (euros)

0.12

0.12

0.11

0.10

0.11

0.11

0.11

EPS (euros)

0.12

0.18

0.11

(0.01)

0.11

0.08

0.11

Diluted EPS (euros)

0.12

0.17

0.11

(0.01)

0.11

0.08

0.11

(*).- Including

- In 2Q'16, capital gains from the disposal of the stake in Visa Europe (€227 million), restructuring costs (-€475 million) and contribution to the Single Resolution Fund (-€120 million).

- In 4Q'15, Banif's badwill in Portugal (€283 million), PPI (-€600 million), impairment of intangible assets (€683 million) and goodwill and other assets (-€435 million)

- In 2Q'15, net result of the reversal of tax liabilities in Brazil (€835 million).

€ million (currency-neutral basis)

Variation 9M '16 9M '15 Amount %

Net interest income

22,992

22,508

485

2.2

Net fee income

7,543

6,982

561

8.0

Gains (losses) on financial transactions

1,311

1,606

(296)

(18.4)

Other operating income

894

793

102

12.8

Dividends

289

339

(50)

(14.7)

Income from equity-accounted method

314

266

48

18.1

Other operating income/expenses

291

187

103

55.2

Gross income

32,740

31,889

851

2.7

Operating expenses

(15,634)

(15,018)

(616)

4.1

General administrative expenses

(13,896)

(13,308)

(588)

4.4

Personnel

(8,121)

(7,754)

(367)

4.7

Other general administrative expenses

(5,775)

(5,554)

(221)

4.0

Depreciation and amortisation

(1,738)

(1,710)

(28)

1.7

Net operating income

17,106

16,871

235

1.4

Net loan-loss provisions

(7,112)

(7,077)

(35)

0.5

Impairment losses on other assets

(88)

(238)

150

(63.0)

Other income

(1,280)

(1,566)

286

(18.2)

Underlying profit before taxes

8,625

7,990

635

7.9

Tax on profit

(2,684)

(2,450)

(234)

9.5

Underlying profit from continuing operations

5,942

5,540

401

7.2

Net profit from discontinued operations

0

-

0

-

Underlying consolidated profit

5,942

5,540

402

7.2

Minority interests

967

951

16

1.7

Underlying attributable profit to the Group

4,975

4,589

386

8.4

Net capital gains and provisions*

(368)

835

(1,203)

-

Attributable profit to the Group

4,606

5,424

(818)

(15.1)

(*).- In 9M'16, capital gains from the disposal of the stake in Visa Europe (€227 million), restructuring costs (-€475 million) and contribution to the SRF (-

€120 million). In 9M'15, net result of the reversal of tax liabilities in Brazil (€835 million).

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