Note: The financial information contained in this document is unaudited and, accordingly, is subject to change. The consolidated income statement and the consolidated balance sheet and the corresponding breakdowns of those statements provided in this report, are presented under management criteria, but have still been prepared in accordance with International Financial Reporting Standards (IFRS-EU) as adopted by the European Union under the terms of Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002, as subsequently modified. In preparing these statements, Circular 4/2017 of the Bank of Spain of 6 December, as subsequently modified, has also been taken into due account in that it adapts IFRS-EU to Spanish credit institutions.
This report has been prepared from the accounting records of CaixaBank, S.A. and the other Group companies, and includes certain adjustments and reclassifications required to apply the policies and criteria used by the Group companies on a consistent basis with those of CaixaBank. For this reason, and specifically in the case of BPI, the information contained in this document does not coincide with certain aspects presented in BPI's publication of financial information. Likewise, the financial information regarding investees has been prepared primarily on the basis of estimates made by the Group's directors, hereinafter the "Company".
Figures are presented in millions of euros unless the use of another monetary unit is stated explicitly, and may be expressed as either million euros or € million. Certain financial information in this report was rounded off and, specifically, the figures shown herein as totals may differ slightly from the arithmetic sum of the individual figures given before them.
In accordance with the Guidelines on Alternative Performance Measures (APMs) published by the European Securities and Markets Authority on 30 June 2015 (ESMA/2015/1057), the appendices hereto provide the definition of certain alternative financial measures and, where appropriate, the reconciliation with the items contained on the financial statements for the period in question.
In accordance with the Amendments to IFRS 4 and subsequent reviews, the Group has decided to apply temporary exemption from applying IFRS 9 to the financial investments of the Group's insurance firms for all periods that come before 1 January 2023, aligning its first application with the entry into force of the new IFRS 17: Insurance Contracts (expected on 1 January 2023), which will govern the presentation and measurement of insurance contracts (including technical provisions). Accordingly, these investments are measured in accordance with IAS 39 and grouped under the heading "Assets under the insurance business" on the balance sheet. To make the information more readily comparable, the Group has also grouped together the technical provisions corresponding to Unit Link and Flexible Investment Life Annuity (the part managed), which are now reported jointly under 'Liabilities under the insurance business'.
Key Figures
Key Group figures
June
December
Change
March
Quarter-on-quarter
2022
2021
2022
BALANCE SHEET
Total assets
704,505
680,036
3.6%
689,217
2.2%
Equity
34,843
35,425
(1.6%)
35,916
(3.0%)
BUSINESS ACTIVITY
0
0
0
0
Customer funds
624,087
619,971
0.7%
619,892
0.7%
Loans and advances to customers, gross
362,770
352,951
2.8%
353,404
2.7%
RISK MANAGEMENT
0
0
0
0
Non-performing loans (NPL)
12,424
13,634
(1,209)
13,361
(937)
Non-performing loan ratio
3.2%
3.6%
(0.4)
3.5%
(0.3)
Provisions for insolvency risk
8,126
8,625
(498)
8,648
(522)
NPL coverage ratio
65%
63%
2
65%
- 0
Net foreclosed available for sale real estate assets
2,110
2,279
(169)
2,223
(113)
LIQUIDITY
0
0
0
0
Total Liquid Assets
162,847
168,349
(5,502)
171,202
(8,355)
Liquidity Coverage Ratio (last 12 months)
323%
320%
3
325%
(2)
Net Stable Funding Ratio (NSFR)
150%
154%
(4)
154%
-4
Loan to deposits
88%
89%
(1)
89%
(1)
CAPITAL ADEQUACY
0
0
0
0
Common Equity Tier 1 (CET1)
12.4%
13.1%
(0.7)
13.4%
(1.0)
Tier 1
14.4%
15.5%
(1.1)
15.7%
(1.3)
Total capital
16.6%
17.9%
(1.3)
17.9%
(1.3)
MREL
24.6%
25.7%
(1.1)
25.7%
(1.1)
Risk-Weighted Assets (RWAs)
215,521
215,651
(130)
214,249
1,272
Leverage ratio
4.6%
5.3%
(0.7)
5.2%
(0.6)
SHARE INFORMATION
0
0
0
0
Share price (€/share)
3.317
2.414
0.903
3.077
0.240
Market capitalisation
26,079
19,441
6,638
24,779
1,300
Book value per share (€/share)
4.43
4.39
0.03
4.46
(0.03)
Tangible book value per share (€/share)
3.75
3.73
0.01
3.80
(0.05)
Net income (ex M&A impacts) attributable per share (€/share) (12 months)
0.30
0.28
0.02
0.28
0.01
PER (Price/Profit, ex M&A impacts ; times)
11.21
8.65
2.56
10.85
0.35
Tangible PBV (Market value/ book value of tangible assets)
0.88
0.65
0.24
0.81
0.07
OTHER DATA (units)
0
0
0
0
Employees
45,022
49,762
(4,740)
0
46,480
(1,458)
Branches2
4,543
5,317
(774)
0
4,824
(281)
of which: retail branches in Spain
3,934
4,615
(681)
0
4,213
(279)
ATMs
13,095
14,426
(1,331)
0
13,568
(473)
(1) The 2021 ratios do not include in the numerator the results generated by Bankia before 31 March 2021, which is the recognition date of the merger for accounting purposes or, for consistency, the contribution of the incorporated RWAs or balance items in the denominator. They neither consider the extraordinary impacts associated with the merger. (2) The March 2022 ratio Includes issues of Senior non-preferred debt for €1,000 million and £500 million in April 2022 (25.9% without considering this). (3) Data for December 2021 has been restated.
P&L acc
Income statement: Year-on-year and quarterly performance
1H22
1H21
Chg. %
1H22 ex M&A
Chg. %
€ million
Net interest income
3,156
2,827
11.6
2,827
11.6
Dividend income
131
152
(13.4)
152
(13.4)
Share of profit/(loss) of entities accounted for using the equity method
112
205
(45.5)
205
(45.5)
Net fee and commission income
1,994
1,640
21.6
1,640
21.6
Trading income
247
80
0.0
80
208.8
Income and expense under insurance or reinsurance contracts
411
318
29.3
318
29.3
Other operating income and expense
(397)
(339)
17.0
(339)
17.0
Gross income
5,655
4,883
15.8
4,883
15.8
Recurring administrative expenses, depreciation and amortisation
(3,011)
(2,747)
9.6
(2,747)
9.6
Extraordinary expenses
(23)
(1,970)
(98.8)
(1)
1,974.2
Pre-impairment income
2,621
166
0.0
2,135
22.8
Pre-impairment income stripping out extraordinary expenses
2,644
2,136
23.8
2,136
23.8
Allowances for insolvency risk
(376)
(328)
14.3
(328)
14.3
Other charges to provisions
(90)
(155)
(42.2)
(129)
(30.5)
Gains/(losses) on disposal of assets and others
(36)
4,284
0.0
(16)
126.4
Profit/(loss) before tax
2,120
3,966
(46.6)
1,662
27.6
Income tax expense
(546)
214
0.0
(384)
42.0
Profit/(loss) after tax
1,574
4,180
(62.4)
1,277
23.2
Profit/(loss) attributable to minority interest and others
1
(0)
(0)
(0)
(506.8)
Profit/(loss) attributable to the Group
1,573
4,181
(62.4)
1,278
23.1
Core income acc
Core income: Year-on-year and quarterly performance
Core income
1H22
1H21
Change
Chg. %
Net interest income
3,156
2,827
329
11.6
Income from Bancassurance equity investments
88
115
(26)
(23.1)
Net fee and commission income
1,994
1,640
354
21.6
Income and expense under insurance or reinsurance contracts
411
318
93
29.3
Total core income
5,649
4,899
750
15.3
P&L yoy PF
Comparative proforma income statement: Year-on-year performance
1H22
1H21
Change
Chg. %
€ million
Net interest income
3,156
3,275
(119)
(3.6)
Dividend income
131
152
(21)
(13.5)
Share of profit/(loss) of entities accounted for using the equity method
112
217
(105)
(48.4)
Net fee and commission income
1,994
1,922
72
3.8
Trading income
247
90
157
Income and expense under insurance or reinsurance contracts
411
318
93
29.3
Other operating income and expense
(397)
(380)
(16)
4.3
Gross income
5,655
5,593
62
1.1
Recurring administrative expenses, depreciation and amortisation
(3,011)
(3,191)
179
(5.6)
Extraordinary expenses
(23)
(1)
(22)
Pre-impairment income
2,621
2,402
219
9.1
Pre-impairment income stripping out extraordinary expenses
2,644
2,403
241
10.0
Allowances for insolvency risk
(376)
(451)
76
(16.8)
Other charges to provisions
(90)
(152)
63
(41.2)
Gains/(losses) on disposal of assets and others
(36)
(38)
3
(6.8)
Profit/(loss) before tax
2,120
1,760
360
20.5
Income tax expense
(546)
(417)
(129)
31.0
Profit/(loss) after tax
1,574
1,343
231
17.2
Profit/(loss) attributable to minority interest and others
1
(0)
1
Comparative proforma Profit/(loss)
1,573
1,343
229
17.1
- Profit/(loss) Bankia pre-merger stripping out extraordinary expenses, net
0
(65)
65
+ M&A impacts, net
0
2,903
(2,903)
Profit/(loss) attributable to the Group (accounting profit/(loss))
Income and expense under insurance or reinsurance contracts
411
318
93
29.3
Total core income
5,649
5,641
8
0.1
Average total assets
Returns on average total assets1
2Q22
1Q22
4Q21
3Q21
2Q21
In %
Interest income
1.20
1.20
1.18
1.20
1.25
Interest expense
(0.29)
(0.31)
(0.29)
(0.28)
(0.27)
Net interest income
0.91
0.89
0.89
0.92
0.98
Dividend income
0.07
0.00
0.02
0.00
0.09
Share of profit/(loss) of entities accounted for using the equity method
0.04
0.03
0.04
0.08
0.07
Net fee and commission income
0.58
0.56
0.63
0.55
0.59
Trading income
0.06
0.08
0.05
0.03
0.02
Income and expense under insurance or reinsurance contracts
0.12
0.12
0.10
0.09
0.09
Other operating income and expense
(0.15)
(0.08)
(0.27)
(0.05)
(0.16)
Gross income
1.63
1.59
1.46
1.62
1.68
Recurring administrative expenses, depreciation and amortisation
(0.84)
(0.88)
(0.90)
(0.92)
(0.95)
Extraordinary expenses
(0.01)
0.00
0.00
0.00
0.00
Pre-impairment income
0.78
0.71
0.56
0.70
0.73
Allowances for insolvency risk
(0.08)
(0.13)
(0.20)
(0.09)
(0.09)
Other charges to provisions
(0.03)
(0.03)
(0.10)
(0.04)
(0.05)
Gains/(losses) on disposal of assets and others
(0.02)
(0.01)
(0.02)
(0.01)
(0.01)
Profit/(loss) before tax
0.66
0.55
0.24
0.56
0.58
Income tax expense
(0.17)
(0.14)
(0.05)
(0.13)
(0.12)
Profit/(loss) after tax
0.49
0.41
0.19
0.43
0.46
Profit/(loss) attributable to minority interest and others
0.00
0.00
0.00
0.00
0.00
Profit/(loss) attributable to the Group
0.49
0.41
0.19
0.43
0.46
Average total net assets (€ million)
707,629
706,116
695,346
690,460
671,368
(1) Annualised quarterly proforma income/cost to average total assets.
Yields and Costs
x
Quarterly cost and income1
2Q22
1Q22
4Q21
€ million
Average balance
Income or expense
Rate %
Average balance
Income or expense
Rate %
Average balance
Income or expense
Rate %
Financial Institutions
135,615
276
0.82
136,446
278
0.83
123,090
266
0.86
Loans and advances
(a)
335,025
1,358
1.63
329,860
1,306
1.61
333,254
1,355
1.61
Debt securities
90,495
85
0.38
87,510
59
0.28
81,945
53
0.26
Other assets with returns
62,310
385
2.48
67,682
427
2.56
63,773
388
2.42
Other assets
84,184
17
- 0
84,618
17
- 0
93,284
4
- 0
Total average assets
(b)
707,629
2,121
1.20
706,116
2,087
1.20
695,346
2,066
1.18
Financial Institutions
132,871
(182)
0.55
125,900
(168)
0.54
116,988
(144)
0.49
Retail customer funds
(c)
387,613
24
(0.03)
382,008
16
(0.02)
376,774
(1)
- 0
Wholesale marketable debt securities & other
47,441
(38)
0.32
47,624
(27)
0.23
48,003
(35)
0.29
Subordinated liabilities
9,265
(3)
0.11
9,936
(5)
0.21
10,380
(8)
0.31
Other funds with cost
75,937
(295)
1.56
82,045
(332)
1.64
82,184
(308)
1.49
Other funds
54,502
(21)
- 0
58,603
(21)
- 0
61,018
(11)
- 0
Total average funds
(d)
707,629
(515)
0.29
706,116
(537)
0.31
695,346
(507)
0.29
Net interest income
1,606
ERROR:#N/A
ERROR:#N/A
1,550
ERROR:#N/A
ERROR:#N/A
1,559
ERROR:#N/A
ERROR:#N/A
Customer spread (%)
(a-c)
1.66
ERROR:#N/A
ERROR:#N/A
1.63
ERROR:#N/A
ERROR:#N/A
1.61
ERROR:#N/A
ERROR:#N/A
Balance sheet spread (%)
(b-d)
0.91
ERROR:#N/A
ERROR:#N/A
0.89
ERROR:#N/A
ERROR:#N/A
0.89
ERROR:#N/A
ERROR:#N/A
3Q21
2Q21
€ million
Average balance
Income or expense
Rate %
Average balance
Income or expense
Rate %
Financial Institutions
114,742
252
0.87
90,624
237
1.05
Loans and advances
(a)
336,605
1,386
1.63
339,866
1,418
1.67
Debt securities
78,021
46
0.23
81,848
49
0.24
Other assets with returns
63,755
392
2.44
63,497
379
2.40
Other assets
97,337
9
- 0
95,533
4
- 0
Total average assets
(b)
690,460
2,085
1.20
671,368
2,087
1.25
Financial Institutions
115,452
(126)
0.43
109,060
(96)
0.35
Retail customer funds
(c)
371,366
2
- 0
362,009
(2)
- 0
Wholesale marketable debt securities & other
48,122
(37)
0.30
47,690
(35)
0.29
Subordinated liabilities
9,841
(8)
0.34
9,727
(7)
0.30
Other funds with cost
83,215
(313)
1.49
75,907
(297)
1.57
Other funds
62,464
(14)
- 0
66,975
(14)
- 0
Total average funds
(d)
690,460
(496)
0.28
671,368
(451)
0.27
Net interest income
1,589
ERROR:#N/A
ERROR:#N/A
1,636
ERROR:#N/A
ERROR:#N/A
Customer spread (%)
(a-c)
1.63
ERROR:#N/A
ERROR:#N/A
1.67
ERROR:#N/A
ERROR:#N/A
Balance sheet spread (%)
(b-d)
0.92
ERROR:#N/A
ERROR:#N/A
0.98
ERROR:#N/A
ERROR:#N/A
To help readers interpret the information contained in this report, the following aspects should be taken into account: • According to applicable accounting standards, income resulting from the application of negative interest rates should be reported in the appropriate income classification. Financial intermediaries on the assets side includes the negative interest on the balances of financial intermediaries held on the liabilities side, the most significant being income from ECB funding measures (TLTRO and MRO). Conversely, the heading financial intermediaries on the liabilities side shows the negative interest on the balances of financial intermediaries on the assets side. Only the net amount between income and expense for both headings has economic significance. • "Other assets with returns" and "Other funds with cost" relate largely to the Group's life insurance activity. • The balances of all headings except "Other assets" and "Other funds" correspond to balances with returns/cost. "Other assets" and "Other funds" incorporate balance items that do not have an impact on the Net interest income and on returns and costs that are not assigned to any other item.
Fees
Fees and commissions
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
ERROR:#REF!
Banking services, securities and other fees
524
529
(1.1)
524
583
536
569
529
Recurring
471
488
(3.3)
471
527
493
503
488
Wholesale banking
52
43
22.0
52
56
43
66
43
Sale of insurance products
100
98
2.3
100
116
79
85
98
Long-term savings products
345
312
10.3
345
402
350
327
312
Mutual funds, managed accounts and SICAVs
216
195
11.0
216
242
220
204
195
Pension plans
76
75
1.7
76
95
79
76
75
Unit Link and other1
53
43
22.1
53
65
51
47
43
Net fee and commission income
969
941
2.9
969
1,101
964
981
941
(1) Includes income corresponding to Unit Link and Flexible Investment Life Annuity (the part managed).
Income from investments
Income from equity instruments
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Dividend income
1
0
1
39
1
151
0
Share of profit/(loss) of entities accounted for using the equity method
50
89
(43.1)
50
70
150
129
89
Income from equity investments
51
89
(42.2)
51
109
150
280
89
Trading income
Trading income
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Trading income
144
52
144
90
50
38
52
Income insurance
Income and expenses arising from insurance or reinsurance contracts
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Income and expense under insurance or reinsurance contracts
202
164
22.9
202
172
162
154
164
Other operating income&exp.
Other operating income and expense
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Contributions and levies
(21)
(19)
10.6
(21)
(396)
0
(181)
(19)
Other real estate operating income and expense (including Spanish property tax in Q1)
(38)
(29)
30.8
(38)
(1)
(18)
(14)
(29)
Other
(80)
(63)
27.9
(80)
(70)
(69)
(73)
(63)
Other operating income and expense
(140)
(111)
25.7
(140)
(466)
(88)
(268)
(111)
Operating expenses
Administrative expenses, depreciation and amortisation
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Gross income
2,775
2,774
0.1
2,775
2,563
2,828
2,820
2,774
Personnel expenses
(937)
(989)
(5.3)
(937)
(977)
(1,009)
(997)
(989)
General expenses
(391)
(421)
(7.2)
(391)
(404)
(413)
(423)
(421)
Depreciation and amortisation
(195)
(182)
7.1
(195)
(196)
(184)
(178)
(182)
Recurring administrative expenses, depreciation and amortisation
(1,523)
(1,593)
(4.3)
(1,523)
(1,577)
(1,606)
(1,598)
(1,593)
Cost-to-income ratio stripping out extraordinary expenses (%) (12 months)
57.4
55.4
2.0
57.4
58.0
56.4
55.8
55.4
Core income
2,761
2,808
(1.7)
2,761
2,889
2,809
2,833
2,808
Recurring administrative expenses, depreciation and amortisation
(1,523)
(1,593)
(4.3)
(1,523)
(1,577)
(1,606)
(1,598)
(1,593)
Core cost-to-income ratio (12 months)
55.8
54.6
1.2
55.8
56.2
55.3
54.6
54.6
Impairment losses
Impairment losses
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Allowances for insolvency risk
(228)
(297)
(23.2)
(228)
(344)
(165)
(155)
(297)
Other charges to provisions
(45)
(72)
(37.7)
(45)
(182)
(73)
(80)
(72)
Allowances for insolvency risk and other charges to provisions
(273)
(369)
(26.0)
(273)
(526)
(238)
(235)
(369)
G_L disposal of assets
Gains/(losses) on disposal of assets and others
1Q22
1Q21
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
€ million
Real estate results
8
2
8
15
1
(5)
2
Other
(18)
(22)
(21.2)
(18)
(47)
(13)
(13)
(22)
Gains/(losses) on disposal of assets and others
(9)
(20)
(52.6)
(9)
(32)
(12)
(18)
(20)
0
0
0
0
0
0
Balance sheet
x
Balance sheet
31 Mar. 2022
31 Dec. 2021
Change
Chg. %
€ million
- Cash and cash balances at central banks and other demand deposits
110,471
104,216
6,255
6.0
- Financial assets held for trading
9,374
10,925
(1,551)
(14.2)
- Financial assets not designated for trading compulsorily measured at fair value through profit or loss
209
237
(28)
(11.9)
Equity instruments
139
165
(26)
(15.8)
Debt securities
5
5
0
2.4
Loans and advances
64
67
(2)
(3.3)
-Financial assets at fair value with changes in other comprehensive income
16,977
16,403
574
3.5
- Financial assets at amortised cost
431,735
420,599
11,136
2.6
Credit institutions
9,060
7,869
1,191
15.1
Customers
347,090
344,524
2,566
0.7
Debt securities
75,585
68,206
7,379
10.8
- Derivatives - Hedge accounting
620
1,038
(418)
(40.2)
- Investments in joint ventures and associates
2,531
2,533
(2)
(0.1)
- Assets under the insurance business1
78,230
83,464
(5,234)
(6.3)
- Tangible assets
7,901
8,264
(363)
(4.4)
- Intangible assets
4,921
4,933
(12)
(0.2)
- Non-current assets and disposal groups classified as held for sale
3,019
3,038
(19)
(0.6)
- Other assets
23,230
24,387
(1,157)
(4.7)
Total assets
689,217
680,036
9,182
1.4
Liabilities
653,301
644,611
8,690
1.3
- Financial liabilities held for trading
4,583
5,118
(535)
(10.4)
- Financial liabilities at amortised cost
561,790
547,026
14,765
2.7
Deposits from central banks and credit institutions
100,228
94,050
6,178
6.6
Customer deposits
400,604
392,479
8,124
2.1
Debt securities issued
51,985
53,684
(1,699)
(3.2)
Other financial liabilities
8,974
6,812
2,161
31.7
- Liabilities under the insurance business1
75,875
79,834
(3,959)
(5.0)
- Provisions
6,219
6,535
(315)
(4.8)
- Other liabilities
4,833
6,098
(1,265)
(20.7)
Equity
35,916
35,425
491
1.4
- Shareholders' equity
37,641
37,013
629
1.7
- Minority interest
32
31
1
4.2
- Accumulated other comprehensive income
(1,757)
(1,619)
(139)
8.6
Total liabilities and equity
689,217
680,036
9,182
1.4
1- In accordance with the Amendments to IFRS 4 and subsequent reviews, the Group has decided to apply temporary exemption from applying IFRS 9 to the financial investments of the Group's insurance firms for all periods that come before 1 January 2023, aligning its first application with the entry into force of the new IFRS 17: Insurance Contracts (expected on 1 January 2023), which will govern the presentation and measurement of insurance contracts (including technical provisions). Accordingly, these investments are measured in accordance with IAS 39 and grouped under the heading "Assets under the insurance business" on the balance sheet. To make the information more readily comparable, the Group has also grouped together the technical provisions corresponding to Unit Link and Flexible Investment Life Annuity (the part managed), which are now reported jointly under 'Liabilities under the insurance business'.
Customer Loans
Breakdown of loans and advances to customers
31 Mar. 2022
31 Dec. 2021
Change
Chg. %
€ million
Loans to individuals
182,923
184,752
(1,828)
(1.0)
Home purchases
138,666
139,792
(1,127)
(0.8)
Other
44,258
44,959
(702)
(1.6)
of which: Consumer lending
18,825
18,716
109
0.6
Loans to business
148,575
147,419
1,155
0.8
Public sector
21,906
20,780
1,126
5.4
Loans and advances to customers, gross1
353,404
352,951
453
0.1
Of which:
0
Performing loans
340,699
339,971
728
0.2
Provisions for insolvency risk
(8,277)
(8,265)
(12)
0.1
Loans and advances to customers, net
345,127
344,686
441
0.1
Contingent liabilities
27,491
27,209
281
1.0
(1) See 'Reconciliation of activity indicators using management criteria' in the 'Appendices'.
ICOs
Breakdown of government guaranteed loans
31 Mar. 2022
31 Dec. 2021
Amounts drawn, in € million
Total
Spain (ICO)
Total
Spain (ICO)
Loans to individuals
1,360
1,321
0
1,415
1,378
Other (self-employed workers)
1,360
1,321
0
1,415
1,378
Loans to business
19,930
18,792
0
20,337
19,265
Public sector
9
9
0
10
9
Loans and advances to customers, gross2
21,299
20,122
0
21,762
20,653
(2) Refers to the amount of loans and advances disposed by clients.
Customer Funds
Customer funds
31 Mar. 2022
31 Dec. 2021
Change
Chg. %
€ million
Customer funds
385,816
384,270
1,546
0.4
Demand deposits
354,337
350,449
3,888
1.1
Time deposits1
31,479
33,821
(2,342)
(6.9)
Insurance contract liabilities2
67,694
67,376
317
0.5
of which: Unit Link and other3
19,584
19,366
218
1.1
Reverse repurchase agreements and others
4,210
3,322
888
26.7
On-balance sheet funds
457,720
454,968
2,752
0.6
Mutual funds, managed accounts and SICAVs
106,241
110,089
(3,848)
(3.5)
Pension plans
46,581
47,930
(1,349)
(2.8)
Assets under management
152,823
158,020
(5,197)
(3.3)
Other accounts
9,350
6,983
2,367
33.9
Total customer funds4
619,892
619,971
(79)
0.0
(1) Includes retail debt securities amounting to €1,369 million at 31 March 2022. (2) Excluding the impact of the change in value of the associated financial assets, with the exception of Unit Link and Flexible Investment Life Annuity products (the part managed). (3) Includes technical provisions corresponding to Unit Link and Flexible Investment Life Annuity products (the part managed). (4) See 'Reconciliation of activity indicators using management criteria' in the 'Appendices'.
Credit risk quality
NPL ratio by segment
31 Dec. 2021
31 Mar. 2022
Loans to individuals
4.2%
4.1%
Home purchases
3.6%
3.5%
Other
6.4%
6.3%
of which: Consumer lending
4.4%
4.2%
Loans to business
3.5%
3.4%
Public sector
0.3%
0.1%
NPL Ratio (loans and contingent liabilities)
3.6%
3.5%
Changes in non-performing loans
1Q21
2Q21
3Q21
4Q21
1Q22
€ million
ERROR:#REF!
ERROR:#REF!
ERROR:#REF!
ERROR:#REF!
ERROR:#REF!
Opening balance
8,601
14,077
14,005
13,955
13,634
Exposures recognized as non-performing (NPL-inflows)
610
1,509
1,292
1,633
1,133
Derecognitions from non-performing exposures
(561)
(1,582)
(1,341)
(1,955)
(1,406)
of which: written off
(129)
(435)
(151)
(375)
(170)
Exposures recognized as non-performing (NPL-inflows), net, Bankia at 31 Mar. 2021
5,427
0
0
0
0
Closing balance
14,077
14,005
13,955
13,634
13,361
Changes in provisions for insolvency risk1
1Q21
2Q21
3Q21
4Q21
1Q22
€ million
3Q17
4Q17
1Q18
2Q18
3Q18
Opening balance
5,755
9,415
9,001
8,955
8,625
Allowances for insolvency risk
174
155
165
344
228
Amounts used
(125)
(560)
(206)
(666)
(202)
Transfers and other changes
(7)
(8)
(5)
(8)
(3)
Provisions for insolvency risk, Bankia at 31 Mar. 2021
3,618
0
0
0
-
Closing balance
9,415
9,001
8,955
8,625
8,648
(1) Including loans and contingent liabilities.
Refinancing
31 Dec. 2021
31 Mar. 2022
€ million
Total
of which: NPL
Total
of which: NPL
Individuals
6,430
4,420
5,912
4,209
Corporates and SMEs
6,045
2,783
5,881
2,848
Public sector
186
13
178
10
Total
12,661
7,216
11,971
7,067
Provisions
2,702
2,441
2,877
2,637
IFRS9 Stages
IFRS9 Stages
31 Mar. 2022
Loan book exposure
Provisions
€ million
Stage 1
Stage 2
Stage 3
TOTAL
Stage 1
Stage 2
Stage 3
TOTAL
Loans and advances
310,454
30,245
12,705
353,404
(1,007)
(1,539)
(5,731)
(8,277)
Contingent liabilities
25,174
1,661
657
27,491
(36)
(77)
(258)
(371)
Total loans and contingent liabilities
335,628
31,905
13,361
380,895
(1,043)
(1,616)
(5,989)
(8,648)
31 Dec. 2021
Loan book exposure
Provisions
€ million
Stage 1
Stage 2
Stage 3
TOTAL
Stage 1
Stage 2
Stage 3
TOTAL
Loans and advances
308,423
31,548
12,980
352,951
(971)
(1,637)
(5,657)
(8,265)
Contingent liabilities
24,705
1,850
654
27,209
(21)
(38)
(301)
(360)
Total loans and contingent liabilities
333,128
33,398
13,634
380,160
(992)
(1,676)
(5,957)
(8,625)
Financing home purchasing LtV
Loan-to-value breakdown1
31 Mar. 2022
€ million
LTV ≤ 40%
40% < LTV ≤ 60%
60% < LTV ≤ 80%
LTV > 80%
TOTAL
Gross amount
41,230
47,405
33,307
15,380
137,322
of which: Non-performing
439
710
898
2,730
4,776
31 Dec. 2021
€ million
LTV ≤ 40%
40% < LTV ≤ 60%
60% < LTV ≤ 80%
LTV > 80%
TOTAL
Gross amount
40,497
47,524
34,325
16,285
138,630
of which: Non-performing
442
708
914
2,868
4,932
(1) Loan-to-value calculated on the basis of latest appraisals according to the criteria set out in Circular 4/2016.
Funding Issuances
Information on the Group's issuances in 2022
€ million
Issue
Amount
Issue date
Maturity
Cost1
Demand
Issuer
Senior preferred debt2
1.000
21 Jan. 2022
6 years
0.673% (mid-swap +0.62%)
1.500
Social bond
(1) Meaning the yield on the issuance. (2) Option of early redemption in the fifth year by the issuer. The issuance included in the table is callable, meaning that the option to redeem them early can be executed before the maturity date.
Solvency
Performance and key capital adequacy indicators
€ million
31 Mar. 2021
30 Jun. 2021
30 Sep. 2021
31 Dec. 2021
31 Mar. 2022
Quarter-on-quarter
CET1 Instruments
36,017
34,528
34,828
34,824
35,011
187
Shareholders' equity
37,172
36,271
36,708
37,013
37,641
628
Capital
8,061
8,061
8,061
8,061
8,061
Profit/(loss) attributable to the Group
4,786
4,181
4,801
5,226
707
(4,519)
Reserves and other
24,326
24,029
23,846
23,727
28,874
5,147
Other CET1 instruments1
(1,155)
(1,743)
(1,880)
(2,189)
(2,630)
(441)
Deductions from CET1
(6,547)
(6,135)
(6,126)
(6,487)
(6,292)
195
CET1
29,470
28,393
28,702
28,337
28,719
382
AT1 instruments
4,235
4,237
4,984
4,984
4,985
1
AT1 Deductions
TIER 1
33,705
32,630
33,685
33,322
33,705
383
T2 instruments
5,837
5,888
5,720
5,192
4,677
(515)
T2 Deductions
TIER 2
5,837
5,888
5,720
5,192
4,677
(515)
TOTAL CAPITAL
39,542
38,518
39,405
38,514
38,382
(132)
Other computable subordinated instruments. MREL
8,842
10,598
10,603
10,628
9,375
(1,253)
MREL, subordinated
48,384
49,116
50,008
49,141
47,757
(1,384)
Other computable instruments. MREL
6,375
6,378
6,379
6,382
7,384
1,002
MREL
54,759
55,494
56,387
55,524
55,141
(383)
Risk-weighted assets
208,585
220,881
220,201
215,651
214,004
(1,647)
CET1 Ratio
14.1%
12.9%
13.0%
13.1%
13.4%
0.3%
Tier 1 Ratio
16.2%
14.8%
15.3%
15.5%
15.7%
0.2%
Total Capital Ratio
19.0%
17.4%
17.9%
17.9%
17.9%
MDA Buffer2
12,571
10,314
10,678
10,686
10,935
249
MREL Ratio, subordinated
23.2%
22.2%
22.7%
22.8%
22.3%
(0.5%)
MREL Ratio3
26.3%
25.1%
25.6%
25.7%
25.8%
0.1%
Leverage ratio
5.4%
5.1%
5.2%
5.3%
5.2%
(0.1%)
CET1 Ratio - CABK (non-consolidated basis)
15.9%
13.4%
13.4%
13.9%
14.1%
0.2%
Tier 1 Ratio CABK (non-consolidated basis)
18.1%
15.5%
15.8%
16.4%
16.7%
0.3%
Total Capital Ratio - CABK (non-consolidated basis)
21.2%
18.4%
18.7%
18.9%
19.0%
0.1%
Risk-weighted assets (non-consolidated basis)
189,616
203,417
202,300
200,755
196,810
(3,945)
Profit/loss (non-consolidated basis)
4,601
3,490
3,565
4,215
790
ADIs4
7,655
6,572
6,466
6,987
7,707
720
MDA Buffer- CABK (non-consolidated basis)2
16,842
12,986
12,891
13,782
14,007
225
Leverage Ratio - CABK (non-consolidated basis)
5.8%
5.2%
5.2%
5.5%
5.4%
(0.1%)
0
0
0
Data at December 2021 updated using the latest official information. (1) Mainly includes the forecast for dividends, IFRS 9 transitional adjustment and OCIs. (2) MDA (Maximum Distributable Amount) Buffer: the capital threshold below which limitations exist on dividend payments, variable remuneration and interest payments to holders of Additional Tier 1 capital instruments. It is defined as Pillar 1 + Pillar 2 capital requirements + capital buffers + possible AT1 and T2 deficits. Either the non-consolidated or the consolidated, whichever is lower. (3) On 31 March, the proforma subordinated MREL ratio, with the issues disbursed in April, would be 23.1% (26.5% total). (4) Does not include the issue premium.
Segment P&L PF
CaixaBank Group income statement, by business segment (proforma)
Banking and insurance
BPI
Corporate Center
Group
€ million
Banking and insurance
BPI
Corporate Center
Group
Net interest income
1,435
112
2
1,550
Dividend income and share of profit/(loss) of entities accounted for using the equity method
44
5
2
51
Net fee and commission income
897
71
969
Trading income
119
9
16
144
Income and expense under insurance or reinsurance contracts
202
202
Other operating income and expense
(120)
(19)
(140)
Gross income
2,578
178
19
2,775
Recurring administrative expenses, depreciation and amortisation
(1,394)
(114)
(15)
(1,523)
Extraordinary expenses
(8)
(8)
Pre-impairment income
1,176
64
4
1,244
Pre-impairment income stripping out extraordinary expenses
1,184
64
4
1,252
Allowances for insolvency risk
(262)
34
(228)
Other charges to provisions
(45)
(0)
(45)
Gains/(losses) on disposal of assets and others
(9)
0
(9)
Profit/(loss) before tax
860
98
4
962
Income tax expense
(224)
(29)
(1)
(254)
Profit/(loss) after tax
636
69
3
708
Profit/(loss) attributable to minority interest and others
1
1
Profit/(loss) attributable to the Group
635
69
3
707
Banking & insur P&L yoy
Banking & insurance business - Income statement: Year-on-year performance
Proforma
€ million
1Q22
1Q21
Chg. %
1Q21
Chg. %
INCOME STATEMENT
Net interest income
1,435
1,091
31.5
1,539
(6.7)
Dividend income and share of profit/(loss) of entities accounted for using the equity method
44
50
(11.6)
62
(28.9)
Net fee and commission income
897
595
50.8
877
2.3
Trading income
119
32
42
Income and expense under insurance or reinsurance contracts
202
164
22.9
164
22.9
Other operating income and expense
(120)
(57)
(98)
22.9
Gross income
2,578
1,875
37.5
2,587
(0.3)
Recurring administrative expenses, depreciation and amortisation
(1,394)
(1,023)
36.2
(1,462)
(4.7)
Extraordinary expenses
(8)
(40)
(81.1)
Pre-impairment income
1,176
812
44.9
1,125
4.6
Pre-impairment income stripping out extraordinary expenses
1,184
852
39.0
1,125
5.3
Allowances for insolvency risk
(262)
(189)
38.9
(312)
(16.0)
Other charges to provisions
(45)
(48)
(6.2)
(72)
(37.1)
Gains/(losses) on disposal of assets and others
(9)
4,302
(20)
(52.9)
Profit/(loss) before tax
860
4,877
(82.4)
721
19.2
Income tax expense
(224)
(154)
45.3
(200)
12.1
Profit/(loss) after tax
636
4,723
(86.5)
521
22.0
Profit/(loss) attributable to minority interest and others
1
(0)
0
Profit/(loss) attributable to the Group
635
4,723
(86.6)
522
21.7
0
0
0
0
INCOME STATEMENT BREAKDOWN
0
0
0
0
Core income
2,570
1,897
35.5
2,639
(2.6)
Banking services, securities and other fees
483
313
54.5
493
(2.0)
Recurring
431
278
55.3
452
(4.5)
Wholesale banking
52
35
47.9
42
23.8
Sale of insurance products
87
43
85
1.9
Long-term savings products
328
240
36.8
299
9.6
Mutual funds, managed accounts and SICAVs
206
142
45.6
186
11.2
Pension plans
76
59
28.9
74
2.4
Unit Link and other
46
39
16.9
39
16.7
Net fee and commission income
897
595
50.8
877
2.3
Personnel expenses
(868)
(646)
34.4
(916)
(5.3)
General expenses
(350)
(259)
35.2
(381)
(8.2)
Depreciation and amortisation
(176)
(119)
48.5
(165)
7.1
Recurring administrative expenses, depreciation and amortisation
(1,394)
(1,023)
36.2
(1,462)
(4.7)
Extraordinary expenses
(8)
(40)
(81.1)
0
0
0
0
0
OTHER INDICATORS
0
0
0
ROTE1
7.9%
8.5%
(0.6)
Cost-to-income ratio stripping out extraordinary expenses (12 months) (12 months)
58.4%
53.0%
5.4
Cost of risk (12 months)
0.25%
0.67%
(0.4)
(1) In 2022, the ratio (last 12 months) excludes the extraordinary impacts associated with the integration of Bankia from 2Q21 (€-1,405 million). In 2021, the ratio excludes €4,272 million corresponding to the extraordinary impacts associated with the integration of Bankia and the gains on the partial sale of Comercia (€+420 million in 4Q20). The coupon for the part of the AT1 issue assigned to this business has also been deducted.
Banking & insur BS
Banking & insurance business - Balance sheet
31 Mar. 2022
31 Dec. 2021
Change
Chg. %
€ million
BALANCE SHEET
Assets
639,638
632,422
7,216
1.1
Liabilities
611,997
604,170
7,827
1.3
Assigned capital
27,609
28,221
(612)
(2.2)
LOANS AND ADVANCES TO CUSTOMERS
Loans to individuals
167,675
169,873
(2,198)
(1.3)
Home purchases
125,230
126,709
(1,479)
(1.2)
Other
42,445
43,164
(718)
(1.7)
of which: Consumer lending
17,306
17,218
88
0.5
Loans to business
137,708
136,882
826
0.6
Public sector
19,782
18,689
1,092
5.8
Loans and advances to customers, gross
325,165
325,444
(279)
(0.1)
of which: performing loans
313,096
313,090
6
of which: non-performing loans
12,069
12,355
(286)
(2.3)
Provisions for insolvency risk
(7,740)
(7,689)
(50)
0.7
Loans and advances to customers, net
317,426
317,755
(330)
(0.1)
Contingent Liabilities
25,609
25,382
227
0.9
CUSTOMER FUNDS
Customer funds
356,371
355,628
743
0.2
Demand deposits
333,380
330,323
3,057
0.9
Time deposits
22,991
25,306
(2,315)
(9.1)
Insurance contract liabilities
67,694
67,376
317
0.5
of which: Unit Link and other
19,584
19,366
218
1.1
Reverse repurchase agreements and other
4,205
3,315
890
26.8
On-balance sheet funds
428,269
426,320
1,950
0.5
Mutual funds, managed accounts and SICAVs
100,105
103,632
(3,527)
(3.4)
Pension plans
46,581
47,930
(1,349)
(2.8)
Assets under management
146,687
151,563
(4,876)
(3.2)
Other accounts
8,794
6,411
2,383
37.2
Total customer funds
583,751
584,294
(543)
(0.1)
0
0
ASSET QUALITY
0
0
Non-performing loan ratio (%)
3.6%
3.7%
(0.1)
Non-performing loan coverage ratio (%)
64%
62%
2
ASSET QUALITY
Customers (milion)
18.6
18.8
(0.2)
(1.3)
Customers individuals vinculated (%)
68.6%
67.9%
0.7
Employees
41,994
45,284
(3,290)
(7.3)
Branches
4,485
4,970
(485)
(9.8)
of which Retail
4,213
4,615
(402)
(8.7)
ATMs
12,175
13,008
(833)
(6.4)
(1) In December, CaixaBank acquired Bankia Vida. As a result, the savings insurance marketed by Bankia (previously recognised in Other accounts) is included in Insurance contract liabilities (on-balance sheet) for €4,091 million. Without considering this, the change in the quarter of Insurance contract liabilities was 2.7% of which Unit Link and other was 8.8%. After adjusting this effect, the change in the quarter of Other accounts was -15.5%.
Banking & insur P&L qoq PF
Banking & insurance business - Income statement: Quarterly performance PF
€ million
4Q21
3Q21
2Q21
1Q21
INCOME STATEMENT PROFORMA
Net interest income
1,447
1,484
1,530
1,539
Dividend income and share of profit/(loss) of entities accounted for using the equity method
57
95
63
62
Net fee and commission income
1,017
890
915
877
Trading income
87
39
34
42
Income and expense under insurance or reinsurance contracts
172
162
154
164
Other operating income and expense
(470)
(91)
(242)
(98)
Gross income
2,310
2,579
2,452
2,587
Recurring administrative expenses, depreciation and amortisation
(1,457)
(1,474)
(1,471)
(1,462)
Extraordinary expenses
Pre-impairment income
853
1,105
981
1,125
Pre-impairment income stripping out extraordinary expenses
853
1,105
981
1,125
Allowances for insolvency risk
(309)
(151)
(148)
(312)
Other charges to provisions
(161)
(63)
(75)
(72)
Gains/(losses) on disposal of assets and others
(76)
(12)
(19)
(20)
Profit/(loss) before tax
307
879
740
721
Income tax expense
(84)
(217)
(200)
(200)
Profit/(loss) after tax
223
662
540
521
Profit/(loss) attributable to minority interest and others
2
0
1
0
Profit/(loss) attributable to the Group
221
662
540
522
0
0
0
0
INCOME STATEMENT BREAKDOWN
0
0
0
0
Core Income
2,686
2,624
2,656
2,639
Personnel expenses
(907)
(935)
(927)
(916)
General expenses
(374)
(374)
(384)
(381)
Depreciation and amortisation
(176)
(164)
(160)
(165)
Recurring administrative expenses, depreciation and amortisation
(1,457)
(1,474)
(1,471)
(1,462)
0
0
0
0
Insurance P&L yoy
Insurance activity: Year-on-year performance
VidaCaixa1
Proforma2
1Q22
1Q21
Chg. %
1Q22
1Q21
Chg. %
€ million
Net interest income
93
81
15.3
93
81
15.3
Dividend income and share of profit/(loss) of entities accounted for using the equity method
41
47
(11.1)
42
59
(28.5)
Net fee and commission income
(31)
(23)
34.3
(28)
(9)
Trading income
26
2
26
2
Income and expense under insurance or reinsurance contracts
201
164
22.3
201
164
22.3
Other operating income and expense
(0)
0
(0)
0
Gross income
331
271
22.2
334
296
12.8
Recurring administrative expenses, depreciation and amortisation
(60)
(35)
73.2
(62)
(38)
61.1
Extraordinary expenses
(2)
0
(2)
0
Pre-impairment income
269
236
14.0
271
258
5.0
Pre-impairment income stripping out extraordinary expenses
271
236
14.7
272
258
0
Profit/(loss) before tax
269
236
14.0
271
258
4.9
Income tax expense
(70)
(56)
25.1
(70)
(59)
19.0
Profit/(loss) after tax
200
180
10.6
201
199
0.7
Profit/(loss) attributable to minority interest and others
0
0
0
0
0
0
Profit/(loss) attributable to the Group
200
180
10.6
201
199
0.7
(1) At VidaCaixa level prior to consolidation adjustments. After acquiring control over 100% of Bankia Vida at the end of 2021 and its transfer to VidaCaixa, the results of Bankia are integrated by global consolidation in 2022, mainly impacting the performance of Net interest income, Income and expense under insurance or reinsurance contracts and Recurring administrative expenses, depreciation and amortisation. (2) The proforma performance of the insurance activity includes the following results: VidaCaixa Group and other Bankia insurance investees: Bankia Mediación (100%), SegurBankia (100%) and Sa Nostra Vida (18.7%). In the proforma vision of 2021 the contribution of 49% of Bankia Vida is recognised in Share of profit/(loss) of entities accounted for using the equity method and is integrated by global consolidation in 2022.
BPI
BPI
€ million
2022
2021
Chg. %
1Q22
4Q21
3Q21
2Q21
1Q21
INCOME STATEMENT
Net interest income
112
112
0.6
112
113
111
112
112
Dividend income and share of profit/(loss) of entities accounted for using the equity method
5
6
(9.5)
5
7
5
7
6
Net fee and commission income
71
64
11.8
71
84
74
67
64
Trading income
9
9
(5.1)
9
0
(2)
3
9
Income and expense under insurance or reinsurance contracts
0
0
0
0
0
0
0
0
Other operating income and expense
(19)
(13)
46.3
(19)
4
4
(19)
(13)
Gross income
178
177
0.6
178
209
193
170
177
Recurring administrative expenses, depreciation and amortisation
(114)
(113)
1.5
(114)
(104)
(116)
(110)
(113)
Extraordinary expenses
0
0
0
0
0
0
(1)
0
Pre-impairment income
64
64
(1.2)
64
104
76
59
64
Pre-impairment income stripping out extraordinary expenses
64
64
(1.2)
64
104
76
60
64
Allowances for insolvency risk
34
15
34
(35)
(13)
(7)
15
Other charges to provisions
(0)
(1)
(93.8)
(0)
(21)
(10)
(5)
(1)
Gains/(losses) on disposal of assets and others
0
0
(70.1)
0
(7)
0
0
0
Profit/(loss) before tax
98
79
23.8
98
42
53
47
79
Income tax expense
(29)
(21)
39.9
(29)
(10)
(12)
(10)
(21)
Profit/(loss) after tax
69
58
18.1
69
32
41
36
58
Profit/(loss) attributable to minority interest and others
0
0
0
0
0
0
0
0
Profit/(loss) attributable to the Group
69
58
18.1
69
32
41
36
58
INCOME STATEMENT BREAKDOWN
Core income
189
181
4.2
189
204
191
183
181
Banking services, securities and other fees
41
36
11.5
41
48
43
41
36
Recurring
40
36
11.9
40
48
43
40
36
Wholesale banking
0
1
(16.6)
0
1
0
0
1
Sale of insurance products
14
14
0.6
14
16
13
12
14
Long-term savings products
17
14
23.6
17
20
18
14
14
Mutual funds, managed accounts and SICAVs
10
9
8.2
10
13
12
8
9
Pension plans
0
0
8.8
0
0
0
0
0
Unit Link and other
7
4
56.2
7
6
6
5
4
Net fee and commission income
71
64
11.8
71
84
74
67
64
Personnel expenses
(58)
(59)
(1.9)
(58)
(58)
(61)
(57)
(59)
General expenses
(38)
(36)
5.3
(38)
(27)
(36)
(36)
(36)
Depreciation and amortisation
(18)
(17)
5.3
(18)
(19)
(19)
(18)
(17)
Recurring administrative expenses, depreciation and amortisation
(114)
(113)
1.5
(114)
(104)
(116)
(110)
(113)
Extraordinary expenses
0
0
0
0
0
0
(1)
0
OTHER INDICATORS
0
0
0
0
0
0
ROTE stripping out one-off impacts1
5.7%
6.6%
(0.9)
5.7%
5.4%
7.1%
7.4%
6.6%
Cost-to-income ratio stripping out extraordinary expenses (12 months)
59.5%
60.6%
(1.1)
59.5%
59.3%
59.1%
60.0%
60.6%
BALANCE SHEET
Assets
42,210
38,888
8.5
42,210
41,308
40,174
39,552
38,888
Liabilities
39,484
36,420
8.4
39,484
38,763
37,505
36,905
36,420
Assigned capital
2,726
2,467
10.5
2,726
2,546
2,669
2,647
2,467
(1) The different period's ratios (12 months) exclude the following amounts net of taxes: - Extraordinary expenses. - Release of provisions corresponding to the quarterly recalculation carried out by the passing of time in relation to the expected losses associated with the funds due to credit risk adjustments made at the time BPI was acquired (€18 million and €30 million in the first quarter of 2022 and 2021, respectively). - Deduction of the coupon for the part of the AT1 issue assigned to this business.
€ million
31 Mar. 2022
31 Dec. 2021
Change
Chg. %
BALANCE SHEET
Assets
42,210
41,308
902
2.2
Liabilities
39,484
38,763
722
1.9
Assigned capital
2,726
2,546
180
7.1
LOANS AND ADVANCES TO CUSTOMERS
Loans to individuals
15,248
14,879
369
2.5
Home purchases
13,435
13,083
353
2.7
Other
1,813
1,796
17
0.9
of which: Consumer lending
1,519
1,498
21
1.4
Loans to business
10,867
10,537
329
3.1
Public sector
2,124
2,091
33
1.6
Loans and advances to customers, gross
28,239
27,507
732
2.7
of which: Performing loans
27,603
26,882
721
2.7
of which: Non-performing loans
636
625
11
1.7
Provisions for insolvency risk
(537)
(576)
38
(6.7)
Loans and advances to customers, net
27,701
26,931
770
2.9
Contingent liabilities
1,882
1,828
55
3.0
CUSTOMER FUNDS
Customer funds
29,444
28,641
803
2.8
Demand deposits
20,957
20,126
831
4.1
Time deposits
8,488
8,515
(28)
(0.3)
Reverse repurchase agreements and other
6
7
(1)
(17.8)
On-balance sheet funds
29,450
28,648
802
2.8
Mutual funds, managed accounts and SICAVs
6,136
6,457
(321)
(5.0)
Assets under management
6,136
6,457
(321)
(5.0)
Other accounts
555
572
(17)
(2.9)
Total customer funds
36,142
35,677
464
1.3
Memorandum items
Insurance contracts sold1
4,520
4,588
(68)
(1.5)
ASSET QUALITY
Non-performing loan ratio (%)
2.3%
2.3%
-0
Non-performing loan coverage ratio (%)
79%
87%
(8)
OTHER INDICATORS
Customers
1.8
1.8
(0.0)
(0.1)
Employees
4,486
4,478
8
0.2
Branches
339
347
(8)
(2.3)
of which retail
290
297
(7)
(2.4)
ATMs
1,393
1,418
(25)
(1.8)
(1) The activity indicators (loans and advances and customer funds) are not affected by reconfiguration of the business sectors. (2) Relate to the insurance products of BPI Vida e Pensões, for which VidaCaixa is responsible under the Group's corporate structure. While reported under the banking and insurance business, the policies are marketed by BPI.
Corporate Center P&L yoy
Corporate centre - Income statement: Year-on-year performance
Proforma
€ million
!Q22
1Q21
Chg. %
1Q21
Chg. %
Net interest income
2
(12)
(12)
Dividend income
0
0
0
0
0
Share of profit/(loss) of entities accounted for using the equity method
2
21
(91.3)
21
(91.1)
Net fee and commission income
0
0
0
0
0
Trading income
16
1
1
Income and expense under insurance or reinsurance contracts
0
0
0
0
0
Other operating income and expense
0
0
0
0
0
Gross income
19
10
87.5
10
97.9
Recurring administrative expenses, depreciation and amortisation
(15)
(13)
16.6
(18)
(16.2)
Extraordinary expenses
0
0
0
0
0
Pre-impairment income
4
(3)
(8)
Pre-impairment income stripping out extraordinary expenses
4
(3)
(8)
Allowances for insolvency risk
0
0
0
0
0
Other charges to provisions
0
0
0
0
0
Gains/(losses) on disposal of assets and others
0
0
0
0
0
Profit/(loss) before tax
4
(3)
(8)
Income tax expense
(1)
7
8
Profit/(loss) after tax
3
4
(20.4)
0
Profit/(loss) attributable to minority interest and others
0
0
0
0
0
Profit/(loss) attributable to the Group
3
4
(20.4)
0
(1) The ROTE for 2021 excludes the gains on the sale of the stake held in Erste Group Bank (€+54 million) and for 2020 the provision established for this investee for €-311 million, net. The coupon for the part of the AT1 issue assigned to this business has also been deducted.
Corporate Center BS
Corporate centre - Balance sheet
€ million
31 Mar. 2022
31 Dec. 2021
Variación
Chg. %
BALANCE SHEET
Assets
7,369
6,305
1,064
16.9
Investments (Financial assets at fair value with changes in OCI and Investments in JVs and associates) and other1
2,352
2,176
176
8.1
Cash, cash balances at central banks and other demand deposits
5,016
4,129
887
21.5
Liabilities
Intra-group financing and other liabilities
1,820
1,678
142
8.4
Assigned capital
5,549
4,627
922
19.9
of which: associated with investees
533
498
35
7.0
(1) The figures at the end of 31 December 2020 do not include the investment in Gramina Homes, incorporated in the merger. (2) The capital assigned to BFA and BCI is the amount required at sub-consolidated level for BPI for those interests.
Corporate Center P&L qoq PF
Corporate centre - Income statement: Quarterly performance PF
€ million
4Q21
3Q21
2Q21
1Q21
1Q21 Proforma1
INCOME STATEMENT
Net interest income
(1)
(6)
(6)
(12)
(12)
Dividend income
38
0
149
0
0
Share of profit/(loss) of entities accounted for using the equity method
6
49
62
21
21
Net fee and commission income
0
0
0
0
0
Trading income
2
12
1
1
1
Income and expense under insurance or reinsurance contracts
0
0
0
0
0
Other operating income and expense
0
0
(8)
0
0
Gross income
45
56
198
10
10
Recurring administrative expenses, depreciation and amortisation
(16)
(16)
(17)
(13)
(18)
Extraordinary expenses
0
0
0
0
0
Pre-impairment income
30
39
181
(3)
(8)
Pre-impairment income stripping out extraordinary expenses
30
39
181
(3)
(8)
Allowances for insolvency risk
0
0
0
0
0
Other charges to provisions
0
0
0
0
0
Gains/(losses) on disposal of assets and others1
51
0
0
0
0
Profit/(loss) before tax
81
39
181
(3)
(8)
Income tax expense
4
3
6
7
8
Profit/(loss) after tax
84
42
187
4
0
Profit/(loss) attributable to minority interest and others
0
0
0
0
0
Profit/(loss) attributable to the Group
84
42
187
4
0
BALANCE SHEET
Assets
6,305
7,202
6,493
8,531
8,531
Liabilities
1,678
2,912
2,823
2,938
2,938
Assigned capital
4,627
4,290
3,670
5,594
5,594
0
0
0
0
0
Disclaimer
This document is intended exclusively for information purposes and does not aim to provide financial advice or constitutes in any way an offer to sell, exchange, or acquire, or an invitation to acquire any type of security or any financial service or product of CaixaBank, S.A. (hereinafter, "CaixaBank" or the "Company" indistinctly) or of any other company mentioned herein. Anyone who purchases a security at any time must do so solely on the basis of their own judgement and/or the suitability of the security for their own purposes, and exclusively on the basis of the public information set out in the documentation drawn up and registered by the issuer in the context of the specific security issue or offer, having availed themselves of the corresponding professional advice if they consider this necessary or appropriate in accordance with the circumstances, and not on the basis of the information set out in this document.
This document may contain statements relating to projections or estimates in respect of future business or returns, particularly in relation to information regarding investments and investees, prepared primarily on the basis of estimates made by the Company. While these projections and estimates reflect the Company's current opinion or view of future business prospects, certain risks, uncertainties and other relevant factors may cause the actual results or outcome to be substantially different to what the Company currently expects. These variables include market conditions, macroeconomic matters, regulatory and government requirements, fluctuations in national or international stock markets or in interest and exchange rates, changes in the financial position or our customers, debtors or counterparties, and so forth. These risk factors, together with any others mentioned in past or future reports, could adversely affect our business and the levels of performance and results described. Other unknown or unforeseeable factors, or in which there is a degree of uncertainty about their performance and/or potential impact, could also make the results or outcome differ significantly from those described in our projections and estimates.
Past financial statements and previous growth rates are no guarantee of the future performance, results or price of shares (including earnings per share). Nothing contained in this document should be construed as constituting a forecast of future results or profit. Furthermore, this document was drawn up on the basis of the accounting records held by CaixaBank and the other Group companies, and includes certain adjustments and reclassifications to apply the principles and criteria operated by the Group companies on a consistent basis with those of CaixaBank, such as in the specific case of Banco Portugués de Investimento (BPI). Therefore, certain aspects of the information provided herein may not match the financial information reported by this bank. With regard to the historical information of Bankia, S.A. and its group (hereinafter, jointly "Bankia") and that related to the performance of Bankia presented in this document, it should be considered that it has been subject to certain adjustments and reclassifications for the purpose of adapting it to the CaixaBank Group's presentation criteria. In addition, with the aim of showing the recurring performance of the results of the new company arising from the merger, a proforma income statement for 2021 has been drawn up by adding the result of Bankia in the first quarter of 2021. The extraordinary impacts associated with the integration of Bankia have been reported separately from the results.
This document features data supplied by third parties generally considered to be reliable information sources. However, the accuracy of the data has not been verified. None of the directors, officers or employees of the company are obliged, either explicitly or implicitly, to ensure that these contents are accurate or complete, or to keep them updated or correct them in the event any deficiencies, errors or omissions are detected. Moreover, in reproducing these contents via any medium, CaixaBank may introduce any changes it deems suitable and may partially or completely omit any portions of this document it chooses. CaixaBank assumes no liability for any discrepancies with this version. The contents of this disclaimer should be taken into account by any persons or entities that may have to make decisions or prepare or share opinions relating to securities issued by CaixaBank, including, in particular, decisions reached by the analysts and investors that rely on this document. All such parties are urged to consult the public documentation and information CaixaBank submits to the Spanish securities market regulator (Comisión Nacional del Mercado de Valores, CNMV). Be advised that this document contains unaudited financial information.
This report contains a number of the Alternative Performance Measures (APMs) set out in the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authority on 30 June 2015 (ESMA/2015/1057) ("the ESMA Guidelines") so as to provide a clearer picture of the company's financial performance and situation. Please be advised that these APMs have not been audited. These measures constitute additional information and should be treated accordingly. In no event are they intended to replace the financial information drawn up in accordance with International Financial Reporting Standards (IFRS). Moreover, the way the Group defines and calculates these measures may differ to the way similar measures are calculated by other companies. As such, they may not be comparable. Please consult the report's section that includes the details of the APMs used. The report also provides a reconciliation between certain management indicators and the indicators presented in the consolidated financial statements prepared under IFRS.
This document has not been approved by or filed with the Spanish National Securities Market Regulator (Comisión Nacional del Mercado de Valores, or CNMV), or by or with any other authority operating in other jurisdictions. In any event, its contents are regulated by the Spanish law applicable at time of writing. This report is not addressed to any person or legal entity located in any other jurisdiction. Consequently, it may not necessarily comply with the prevailing standards or legal requisites of other jurisdictions.
Without prejudice to applicable legal requirements or to any other limitations imposed by the CaixaBank Group, permission to use the contents of this document or the signs, trademarks and logos it contains is expressly denied. This prohibition extends to any reproduction, distribution, transmission to third parties, public communication or conversion, in any medium, for commercial purposes, without the prior express consent of the respective proprietary titleholders. Failure to observe this prohibition may constitute a legal infraction sanctionable under prevailing legislation.
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CaixaBank SA published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 07:44:08 UTC.
CaixaBank, S.A. is a financial services group organized around 2 areas of activity:
- banking and insurance: retail banking, investment banking, capital market banking, etc.;
- other: essentially shares acquiring business.
At the end of 2023, the group manages EUR 416.9 billion of outstanding deposits and EUR 356.3 billion in outstanding loans.
Products and services are marketed through a network of 4,199 branches located mainly in Spain (4,199), and through 17 representative offices worldwide.
CAIXABANK, S.A. 
