Banif's 1Q2013 net income was severely affected by extraordinary  adjustments related to the Brazilian subsidiaries.
On the positive side, we highlight the evolution of the domestic  operations, which posted a net income of Euro -6.4 million at the end of  the 1Q2013, a significant improvement over 1Q2012 net loss of Euro  49.1 million.
In 1Q2013, Banif posted a consolidated net loss of Euro 69.2 million,  which compares with a net loss of Euro 75.9 million obtained in 1Q2012.  In this period, the results were severely penalized by the increase in  provision and impairments associated with credit to customers that  amounted to Euro 73.7 million at the end of 1Q2013 (versus Euro 67.7  million at the end of 1Q2012) and which were mainly related to nonresident  entities (Euro 78.5 million, of which Euro 78.1 million concerns  to the Brazilian business).

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