Financial Summary. December 2016

Transkript

1 4Q 2016 Financial Summary December 2016

2 Index Economic and financial environment 2. Financial highlights 3. Results 4. Condensed balance sheet 5. Customer funds and lending Quality of assets 7. Change in NPLs 8. Consolidated statements of income 9. Quarterly statements of income 10. Fees and commissions Cumulative yields and costs 12. Quarterly yields and costs 13. Contribution by business area Shareholder value 17. People 18. Quarterly events 14. Shareholders equity and ratings 15. Change in net worth

3 3 2. Financial highlights Variation Balance sheet 31/12/ /12/2015 Amount % Total assets 67,182,467 58,659,810 8,522, Credit facilities and loans 51,184,773 44,182,634 7,002, Total customer funds 75,411,758 65,317,531 10,094, On balance sheet 51,869,456 44,314,476 7,554, Retail customer funds ex repos 44,127,812 34,603,553 9,524, Marketable debt securities 6,923,396 8,920,997-1,997, Off-balance-sheet managed funds 23,542,302 21,003,055 2,539, Shareholders equity 4,097,376 3,798, , Earnings Net interest income 979, , , Gross operating income 1,717,389 1,568, , Pre-provision profit 815, ,761 7, Profit before taxes 676, , , Net attributable income 490, , , RATIOS (%) Non-performing loans/total risk exposure Recorded allowance/non-performing loans Cost-to-income RoE RoA CET 1 capital Bankinter shares Number of shares 898,866, ,866, Closing price ( ) EPS ( ) DPS ( ) Branches and BUSINESS UNITS Number of branches Other business units Corporate bkg SMEs Private bkg Corporate partnerships Number of financial agents Telephone and on-line banking EMPLOYEES Banking group employees 5,486 4,405 1, Insurance business (LDA) employees 2,049 1,

4 6 4. Condensed balance sheet Var. 12/16-12/15 31/12/ /12/2015 Thousand % ASSETS Cash, balances with central banks and other demand deposits 3,556,750 1,448,882 2,107, Financial assets held for trading 2,676,719 4,473,638-1,796, Financial assets at fair value through profit or loss 0 57,209-57, Available-for-sale financial assets 4,140,057 3,530, , Loans and receivables 52,816,104 44,955,793 7,860, Debt instruments 499, ,230 52, Loans and advances 52,317,100 44,509,564 7,807, To credit institutions 1,132, , , To customers 51,184,773 44,182,634 7,002, Held-to-maturity investments 2,019,546 2,404, , Derivatives/hedge accounting 215, ,073 55, Investments in joint ventures and associates 112,708 39,424 73, Assets under insurance and reinsurance contracts 3,124 2, Tangible assets 503, ,114 10, Intangible assets 245, ,693-21, Tax assets and other assets 589, ,899 80, Non-current assets held for sale 303, ,287-15, TOTAL ASSETS 67,182,467 58,659,810 8,522, LIABILITIES Financial liabilities held for trading 2,195,816 3,769,080-1,573, Financial liabilities at amortised cost 59,338,635 49,836,994 9,501, Deposits 48,788,810 37,630,699 11,158, From central banks 4,750,000 3,017,983 1,732, From credit institutions 1,472,286 1,792, , From customers 42,566,523 32,820,399 9,746, Issued debt instruments 8,915,470 11,079,445-2,163, Other financial liabilities 1,634,355 1,126, , Derivatives/hedge accounting 109,154 11,489 97, Liabilities under insurance contracts 683, ,983 52, Provisions 153,707 95,868 57, Tax liabilities and other liabilities 604, ,219 86, TOTAL LIABILITIES 63,085,091 54,861,633 8,223, Shareholders equity 3,987,518 3,689, , Total comprehensive income 109, ,741 1, TOTAL SHAREHOLDERS EQUITY 4,097,376 3,798, , TOTAL LIABILITIES AND EQUITY 67,182,467 58,659,810 8,522,

5 7 5. Customer funds and lending Bankinter Group Like-forlike* Variation 31/12/ /12/ /12/2015 Amount % Retail funds 44,127,812 40,451,444 34,603,553 5,847, Public sector deposits 904, , , , Private sector deposits 41,349,852 37,676,497 32,065,587 5,610, Current accounts 31,242,882 28,904,263 22,293,479 6,610, Term deposits 10,087,466 8,755,485 9,727, , Valuation adjustments 19,504 16,750 44,928-28, Other demand accounts 300, , ,214 77, Retail marketable securities 1,573,676 1,573,676 1,781, , Repurchase agreements 818, , ,927 28, Wholesale marketable securities 6,923,396 6,923,396 8,920,997-1,997, Promissory notes and bills , , Securitisations 1,076,633 1,076,633 1,357, , Covered bonds 5,153,683 5,153,683 6,194,371-1,040, Senior debt 497, , , , Valuation adjustments 195, , ,523 40, TOTAL ON-BALANCE-SHEET FUNDS 51,869,456 48,193,088 44,314,476 3,878, Off-balance-sheet funds 23,542,302 21,120,536 21,003, , Own mutual funds 7,619,966 7,619,966 7,417, , External mutual funds marketed 8,803,782 6,493,644 6,187, , Pension funds 2,261,755 2,221,515 2,085, , Wealth management and SICAVs 4,856,800 4,785,412 5,312, , Loans and advances to customers Loans to public sector 1,513,810 1,513,810 1,676, , Loans to private sector 49,670,963 45,263,293 42,506,338 2,756, Commercial credit 1,963,758 1,951,011 1,793, , Secured loans 30,124,036 26,628,231 25,915, , Other credit facilities 13,865,228 13,143,407 11,540,110 1,603, Personal loans 7,480,439 6,772,972 6,319, , Credit lines 6,370,436 6,370,436 5,220,789 1,149, Other lending 14, n,r Finance leases 1,181,996 1,128, , , Non-performing loans 2,227,808 1,807,191 1,990, , Loan-loss allowances -1,105, , , , Other term lending 1,413,429 1,350,597 1,142, , Loans and advances to customers 51,184,773 46,777,103 44,182,634 2,594, Fixed-income securities to customers 148, TOTAL LOANS TO CUSTOMERS 51,333,772 46,777,103 44,182,634 2,594, Off-balance-sheet risks 14,471,212 14,021,658 12,601,692 1,419, Contingent risks 3,934,041 3,822,620 3,229, , Drawable by third parties 10,537,171 10,199,038 9,384, , *Does not include Portugal and consolidation and strategic projects.

6 8 6. Quality of assets Variation 31/12/ /12/2015 Amount % Total risk exposure 57,308,266 49,415,783 7,892, Total non-performing loans 2,296,743 2,039, , Credit risk provisions 1,131, , , NPL ratio (%) NPL coverage ratio (%) Foreclosed assets 523, ,348-7, Provision for foreclosed assets 220, ,061 7, Foreclosed asset coverage(%) Changes in NPLs Variation 31/12/ /12/2015 Amount % Initial balance 2,039,239 2,232, , Net additions 423,277 39, , Write-offs -165, ,877 67, Final balance 2,296,743 2,039, , NPL ratios: Bankinter vs Sector (%) 9.23% 4.01% Q16 l Bankinter l Sector Sector source: Bank of Spain, November 2016

7 9 8. Consolidated statements of income 31/12/ /12/2015 Variation Bankinter Group Amount Amount Amount % Interest and similar income 1,271,458 1,283,765-12, Interest expense and similar -292, , , Net interest income 979, , , Dividend income 10,253 6,681 3, Share of results of entities accounted for under equity method 22,093 18,223 3, Net fees and commissions 379, ,329 21, Gains on financial transactions and exchange differences 71,449 71, Other operating income/expenses 255, ,477 9, Gross operating income 1,717,389 1,568, , Staff costs -462, ,459-69, General & admin. expenses and amortisation charge -439, ,594-71, Pre-provision profit 815, ,761 7, Provisions -38,611-25,254-13, Impairment charges -169, ,592 20, Operating profit net of provisions 607, ,915 14, Gains/(losses) on disposal of assets -75,770-72,585-3, Negative goodwill recognised 145, ,140 - Profit before taxes 676, , , Income tax -186, ,410-42, Consolidated net income 490, , ,

8 10 9. Quarterly statements of income Bankinter Group Like-for-like* Variation in % Bankinter Group 4Q16 3Q16 2Q16 4Q16 3Q16 2Q16 4Q16/4Q15 4Q16/3Q16 1Q16 4Q15 Interest and similar income 330, , , , , , , ,664 Interest and similar charges -64,707-65,536-79,347-61,573-64,038-76, ,851-90,325 Net interest income 266, , , , , , , ,339 Dividend income 2,057 1,953 3,904 2,057 1,953 3, , Share of results of entities 6,097 5,946 5,399 4,892 5,652 3, ,650 4,526 accounted for under equity method Net fees and commissions 105,093 93,775 95,074 96,613 85,378 86, ,169 88,576 Gains/(losses) on financial 15,390 6,640 32,131 15,394 6,642 32, ,288 22,845 transactions and exchange differences Other operating income/expenses 52,616 76,922 44,711 54,769 76,777 44, ,218 30,852 Gross operating income 447, , , , , , , ,106 Staff costs -128, , , , , , ,546-98,471 General & admin. expenses and -118, , ,288-96,460-92,040-88, ,359-90,173 amortisation charge Pre-provision profit 200, , , , , , , ,462 Provisions -10,277-11,752-8,598-13,766-9,645-7, ,983-5,237 Impairment charges -34,526-36,811-52,574-28,017-33,065-46, ,278-57,127 Operating profit net of 155, , , , , , , ,098 provisions Gains/(losses) on disposal of -30,745-6,540-27,489-31,708-7,040-10, ,996-16,850 assets Negative goodwill recognised 4,460-7, , Profit before taxes 128, , , , , , , ,249 Income tax -38,849-32,138-72,815-46,006-32,571-41, ,801-24,854 Consolidated net income 90, , ,219 90, ,502 98, ,788 76,395 *Does not include Portugal and consolidation and strategic projects. Gross operating income (millions of euros) and quarterly cost-to-income ratio (%) Pre-provision profit (millions of euros) Q15 1Q16 2Q16 3Q16 4Q16 4Q15 1Q16 2Q16 3Q16 4Q16 l Cost-to-income ratio l Gross operating income

9 Fees and commissions Variation 31/12/ /12/2015 Amount % FEE AND COMMISSION EXPENSE 91,740 80,275 11, FEE AND COMMISSION INCOME On guarantees and documentary credits 31,158 30, On foreign exchange and foreign banknotes 60,145 56,350 3, On contingent liabilities 12,641 14,590-1, On collection and payment services 81,512 64,380 17, On securities services 83,085 85,587-2, Securities underwriting and placement 3,877 2, Securities trading 31,672 36,583-4, Securities administration and custody 32,188 27,466 4, Wealth management 15,347 18,567-3, On marketed non-banking financial products 168, ,775 14, Asset management 113, ,792 5, Insurance and pension funds 54,264 44,983 9, Other fees and commissions 34,207 32,220 1, Total fee and commission income 470, ,604 33, NET FEES AND COMMISSIONS 379, ,329 21,

10 Cumulative yields and costs in % 31/12/ /12/2015 Weighting Rate Weighting Rate Cash and deposits with central banks Loans and advances to credit institutions Loan and advances to customers (a) Debt securities Of which ALCO portfolio Equity portfolio Other unweighted income Average earning assets (b) Other assets Average total assets Deposits from central banks Deposits from credit institutions Customer funds (c) Customer deposits Marketable debt securities Subordinated liabilities Other unweighted costs Average interest-bearing funds (d) Other liabilities Average total funds Customer margin (a-c) Net interest margin (b-d)

11 Quarterly yields and costs in % 4Q2016 3Q2016 2Q2016 1Q2016 4Q2015 Weighting Rate Weighting Rate Weighting Rate Weighting Rate Weighting Rate Deposits with central banks Loans and advances to credit institutions Loans and advances to customers (a) Debt securities Of which ALCO portfolio Equity portfolio Other unweighted assets Average earning assets (b) Other assets Average total assets Deposits from central banks Deposits from credit institutions Customer funds (c) Customer deposits Marketable debt securities Subordinated liabilities Other unweighted liabilities Average interest-bearing funds (d) Other liabilities Average total funds Customer margin (a-c) Net interest margin (b-d) Average Total Assets (ATA, in thousands of euros) 66,419,976 65,142,804 64,358,475 58,837,625 58,000,873 Quarterly customer margin / credit yield and cost of funds (%) Q15 1Q16 2Q16 3Q16 4Q16 l Cost of customer funds l Customer margin l Yield on customer lending

12 Contribution by business area Variation 31/12/ /12/2015 Amount % Customer segments 1,108,332 1,004, , Commercial and private banking 454, ,948 60, Corporate banking 532, ,562 7, Bankinter Consumer Finance 121,189 86,135 35, Bankinter Portugal 90, ,227 - Capital markets 240, ,147-4, Línea Directa Aseguradora 359, ,308 8, Corporate Centre -80,906-32,284-48, Gross operating income 1,717,389 1,568, , Shareholders equity and ratings Variation 31/12/ /12/2015 Amount % Share capital and reserves 3,961,056 3,609, , Treasury shares CET1 deductions -338, ,534 62, Common Equity Tier 1 3,622,038 3,206, , AT1 instruments 200, ,000 - AT1 deductions -153, ,504 - Tier 1 3,668,534 3,206, , T2 instruments 273, ,412-66, T2 deductions -70,537-79,800 9, Tier 2 203, ,613-57, Total Equity 3,871,657 3,467, , Risk-weighted assets 30,763,487 27,238,576 3,525, CET 1 capital ratio (%) Tier 1 (%) Tier 2 (%) Capital adequacy ratio (%) (*) The CET1 amount includes forth-quarter retained earnings. Long term Short term Outlook Date Moody s Baa2 P-2 Stable June 2015 Standard & Poor s BBB- A3 Positive April 2016 DBRS BBB (high) R-1 (low) Positive July 2016

13 Change in net worth Balance at 1 January ,643,445 Dividends for the period -206,215 Valuation adjustments -20,790 Profit for the period 375,920 Other changes 5,817 Balance at 31 December ,798,177 Balance at 1 January ,798,177 Dividends for the period -189,453 Valuation adjustments 1,117 Profit for the period 490,109 Other changes -2,574 Balance at 31 December ,097,376

14 Shareholder value Period per share data ( ) Earnings per share 0.55 Dividend per share 0.21 Book value per share 4.56 Opening price 6.54 Lowest price 6.27 Highest price 7.69 Closing price 7.36 Revaluation in last quarter (%) Revaluation in last 12 months (%) Stock market ratios Price/Book value (times) 1.61 Price/Earnings Ratio (times) Dividend yield (%) 2.86 Number of shareholders 57,750 Number of shares 898,866,154 Number of shares held by non-residents 414,227,135 Average daily trading (number of shares) 2,575,659 Average daily trading () 18,174 Market capitalisation () 6,615,655 Share price. Relative variation (%) (Dec 15 base 100) Dec. 15 Dec. 16 l Ibex 35 l Bankinter l Eurostoxx Banca (SX7P)

15 People 31/12/ /12/2015 Variation % Banking group employees (*) 5,486 4,405 1, % Average number of years with Bankinter Group % Average age (in years) % Employee distribution by gender (%) Men % Women % Internal job rotation (%) % External rotation (%) % (*)Data on average mobile turnover in last 12 months.

16 Bankinter SA Paseo de la Castellana, Madrid T bankinter.com