Investor Presentation • Jul 31, 2020
Investor Presentation
Open in ViewerOpens in native device viewer
31 July 2020
The purpose of this presentation is purely informative and should not be considered as a service or offer of any financial product, service or advice, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by Banco BPI ("BPI") or any of the companies mentioned herein. The information contained herein is subject to, and must be read in conjunction with, all other publicly available information. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information set out in the relevant documentation filed by the issuer, having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation.
BPI cautions that this presentation might contain forward‐looking statements concerning the development of its business and economic performance. While these statements are based on BPI's current projections, judgments and future expectations concerning the development of the Bank's business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from BPI's expectations. Such factors include, but are not limited to the market general situation, macroeconomic factors, regulatory, political or government guidelines and trends, movements in domestic and international securities markets, currency exchange rates and interest rates, changes in the financial position, creditworthiness or solvency of BPI customers, debtors or counterparts.
Statements as to historical performance or financial accretion are not intended to mean that future performance or future earnings for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. In addition, it should be noted that although this presentation has been prepared based on accounting registers kept by BPI and by the rest of the Group companies it may contain certain adjustments and reclassifications in order to harmonize the accounting principles and criteria followed by such companies with those followed by BPI.
In particular, regarding the data provided by third parties, BPI does not guarantee that these contents are exact, accurate, comprehensive or complete, nor it is obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents by any means, BPI may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, BPI assumes no liability for any discrepancy.
In relation to Alternative Performance Measures (APMs) as defined in the guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 5 October 2015 (ESMA/2015/1415), this report uses certain APMs, which have not been audited, for a better understanding of the company's financial performance. These measures are considered additional disclosures and in no case replace the financial information prepared under the 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. Accordingly, they may not be comparable. Please refer to the Glossary section for a list of the APMs used along with the relevant reconciliation between certain indicators.
This document has not been submitted to the Comissão do Mercado of Valores Mobiliários (CMVM) (Autoridade Portuguesa do Mercado of Capitais) for review or for approval. Its content is regulated by the Portuguese law applicable at the date hereto, and it is not addressed to any person or any legal entity located in any other jurisdiction. For this reason it may not necessarily comply with the prevailing norms or legal requisites as required in other jurisdictions.
Notwithstanding any legal requirements, or any limitations imposed by BPI which may be applicable, permission is hereby expressly refused for any type of use or exploitation of the content of this presentation, and for any use of the signs, trademarks and logotypes contained herein. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion by any other mean, for commercial purposes, without the previous express consent of BPI and/or other respective proprietary title holders. Any failure to observe this restriction may constitute a legal offence which may be sanctioned by the prevailing laws in such cases.
| i i l N P t t e n c o m e n o r u g a h l d i i d d t t a n n e c o n s o a e |
(‐ ) f i i l f h h l f N P 6. 5 M € i 1 2 0 2 0 9 3 % t t t t t e p r o n o r g a o u n e s a y o y (‐ ) l i d d f i f h h l f % C 4 2. 6 M € i 1 2 0 2 0 6 8 t t t t t o n s o a e n e p r o o n e s a o y y ( ) f h h l f i i 8 3 i L M € 1 2 0 2 0 t t t t o a n m p a r m e n s n e o n e s a |
|---|---|
| C t u s o m e r r e s o u r c e s d l a n o a n s |
d d ( d ) C i i 8 € 8. 3 % 1 7 7 M t t t + u s o m e r e p o s s n c r e a s e y f l d ( d ) i i 9 6 € 2. % L 5 M 4 t t + o a n p o r o o n c r e a s e y |
| h l i i H t t g a s s e q a u y |
f i i ( d f i i i ) d d N N P E E B A 2. 0 % i J 2 0 2 0 t t t o n‐ p e r o r m n g e x p o s u r e s r a o e n o n e c r e a s e o n u n e – – b d l l l f f ( ) d C i i i N P E i 1 3 4 % t t t o v e r a g e y m p a r m e n s a n c o a e r a o n o n‐ p e r o r m n g e x p o s u r e s n c r e a s e o |
| l S i i i t t t r o n g c a p a s a o n |
) 1 l ( h ) d d l l C i i i ‐i i C E T 1 1 3. 8 % T 1 1 5. 3 % i 1 7. 0 % t t t t t t t t a p a r a o s p a s n g n n c r e a s e : o o a n o a c a p a o , ) 1 ( h ) f L i i ‐i 7. 2 % t e v e r a g e r a o p a s n g n o |
| d b d I B P t e a n d i i t t t e p o s s r a n g s a i d t t n v e s m e n g r a e |
i d b d b d 's, b h d b B P I B 3 M B B B F i B B B S & P. t t t + s e n o r e r a e a a y o o y y c a n y : d d b d 's d b h B P I i B 1 M B B B F i R i t t t t + e p o s s : r a e a a y o o y a n y c a n g s |
1) With the phasing of the impact from IFRS9 implementation (‐0.2 p.p.).
4
| In M € |
9 Ju 1 n |
2 0 Ju n |
% |
|
|---|---|---|---|---|
| f i in l Ne Po t t tu p ro r g a |
8 6. 9 |
6. 5 |
9 3 % ‐ |
|
| bu i io B F A tr t co n n |
3 8. 1 |
3 3. 0 |
||
| bu B C I c i io tr t on n |
9. 5 |
3. 1 |
||
| l d d f C i i t t t o ns o a e ne p ro |
3 1 4. 5 |
2. 6 4 |
‐6 8 % |
| y o y |
|
|---|---|
| ) 1 i l b k i i C o m m e r c a a n n g g r o s s n c o m e |
6 M € ‐ |
| i i L t o a n m p a r m e n s |
9 4 M € ‐ |
| h O t e r |
1 9 € M + |
| l O i R R T E P t t e c u r r e n n o r u g a |
||||
|---|---|---|---|---|
| 9 Ju 1 n. |
Ju 2 0 n. |
|||
| R R O T E t e c u r r e n ( ) 2 m hs Las 1 t t on |
7. 7 % |
5. 4 % |
51) Net interest income, net fees and commissions, dividends and equity accounted income.
6
| fo l Gr io, in M € t os s p or |
De 1 9 c |
Ju 2 0 n |
Y D t |
Yo Y / ( ) Jun .20 Jun .19 |
|---|---|---|---|---|
| in d iv i du ls I. Lo to an s a |
1 3 0 4 5 |
1 3 3 1 1 |
% 2. 0 |
% 5. 0 |
| loa M tg or ag e ns |
1 1 3 7 7 |
1 1 6 3 8 |
2. 3 % |
4. 7 % |
| he loa ls O in d iv i du t to r ns a |
6 6 8 1 |
6 3 1 7 |
0. 3 % |
% 7. 4 |
| ie I I. Lo to an s co m p an s |
9 5 1 3 |
9 7 8 8 |
2. 9 % |
7. 1 % |
| b l I I I. Pu ic to se c r |
1 8 2 3 |
1 8 7 7 |
3. 0 % |
2. 4 % |
| l lo To ta an s |
2 4 3 8 1 |
2 4 9 7 7 |
% 2. 4 |
% 5. 6 |
| No te : |
||||
| fo l f Lo io t t o an p or ne im irm ts p a en |
2 3 9 8 7 |
2 4 5 1 7 |
2. 2 % |
6. 0 % |
| l l f l i T k h t t t o a o a n o r o o m a r e s a r e |
0 % 1 5 |
|||
| p | ( ) M 2 0 2 0 ay |
BPI implemented a loan moratoria for families and companies (extended until 31 March 2021)
Operationalisation of state guaranteed credit lines to support companies in the context of the pandemic. BPI advanced up to 20% of the approved amount.
Maintenance of all outstanding credit line contracts until 30 September 2020, keeping interest rates unchanged
Note: in 2020 BPI changed the segmentation of the loan portfolio. The figures in Dec19 were restated to ensure comparability.
| d # t r e q u e s s a p p r o v e |
h. 3 1. 5 t |
|---|---|
| # t t c o n r a c s |
h. 4 0. 9 t |
| ( ) L M € t o a n a m o n u |
2 6 1 5 M € |
| % f he lo fo l io t t t a s o s e g m e n a n p o r |
% 2 2. 5 |
| 2) fo f lo % in ia t p e r rm g o a n m o ra o r |
9 8. 9 % |
| d # t r e q u e s s a p p r o v e |
h. 2 3. 8 t |
|---|---|
| # t t c o n r a c s |
h. 3 0. 7 t |
| ( ) L M € t o a n a m o u n |
3 7 3 M € |
| f he lo fo l % io t t t a s o s e g m e n a n p o r |
2 7. 0 % |
| 2) fo f lo % in ia t p e r rm g o a n m o ra o r |
% 9 9. 0 |
7
| ) ( 1 i i L t t o a n s o c o m p a n e s m o r a o r a s ) f 3 0 Ju 2 0 2 0 as o n. |
|
|---|---|
| d # t r e q u e s s a p p r o v e |
h. 9 1 7. t |
| # t t c o n r a c s |
h. 3 3. 7 t |
| ( ) L M € t o a n a m o n u |
2 6 6 2 M € |
| % f he lo fo l io t t t a s o s e g m e n a n p o r |
% 2 9. 2 |
| 2) fo f lo % in ia t p e r rm g o a n m o ra o r |
9 9. 7 % |
| b l l i d i i P C O V I D‐ 1 9 t t u c s u p p o r c r e n e s / u d by d c d d de ly by Cr it g B P I a it a is S G M, t e ran n re p p rov e n r a na s as o |
f 3 0 Ju 2 0 n. |
| l # A i i t p p c a o n s |
4 0 7 3 |
| ( ) L M € t o a n a m o n u |
5 4 9 M € |
| d i d d f f i C B P I C t t t r e g r a n e u n e r o e r o o m p a n e s |
|
| 3) d i i d L 2 Q 2 0 2 0 t t o a n p r o u c o n n n u a r e r |
2 8 1 9 M € |
| i l b l f d d i l i A t t ( ) 3 0 Ju 2 0 m o u n a v a a e o a p p r o v e c r e n e s n. |
3 0 0 0 M € |
1) Includes COVID‐19 renegotiations (bank's initiative moratorias). Breakdown by type of moratoria.
2) Corresponds to credit classified in stage 1 and in stage 2. Excludes credit in stage 3 (classified as default).
3) New ST and MLT credit grant (includes amounts not used or disbursed) and renewal of short‐term operations (agreed limits) for Companies and Businesses. Excludes credit under the COVID‐19 lines.
54% yoy growth in mortgage new loans in 1H 20; market share gain.
During confinement, the Bank adapted the process of loan documentation and property appraisal, which allowed it to maintain its activity.
Gradual recovery of commercial activity after confinement.
10Note: The values shown in the graph refer to the amounts of credit agreements signed (agreed limits), available for use by customers. Only the amounts used (disbursed) are reflected in the credit portfolio balances. The renewals of operations (st) refer to the renewal of current account limits, contracted overdrafts, factoring and confirming.
BPI reinforces its position as the Bank for the Companies, through the launch of new credit lines, new services and the promotion of webinars with Customers
Applications until 15 September at www.premionacionalturismo.pt
Submission and consultation Files Assignments and Debtors / Invoice Advance / Integrated Factoring Position / Invoice Portfolio Consultation; Settled Invoices; Credit Notes, Agenda and Billing Contacts.
11
Satisfaction survey that evaluates the quality of service of each bank.
"Conta Valor" account , Commerce account, cards, transfer, App BPI and housing loans
Consumer loans, car financing and renting
Insurance and security alarm solutions
Planning for the future
Savings, investments and retirement savings plans
| In M € |
De 1 9 c |
Ju 2 0 n |
Y D t |
Yo Y / ( ) Ju 2 0 Ju 1 9 n. n. |
|---|---|---|---|---|
| ba la he I. O t r n‐ nc e s e es ou rc es |
2 3 0 1 5 |
2 4 9 3 3 |
8. 3 % |
8. 8 % |
| de i Cu to ts s m er p os |
2 2 7 0 7 |
2 4 5 8 3 |
% 8. 3 |
% 1 0. 8 |
| l a d f l In i io in ia t tu t s na n an c de in i to ts ve s rs p os |
3 0 8 |
3 4 9 |
% 1 3. 3 |
% 5 2. 0 ‐ |
| de I I. As ts t se u n r m an ag em en |
9 7 9 7 |
9 2 8 8 |
5. 2 % ‐ |
1. 3 % ‐ |
| fu l ds M tu u a n |
5 2 4 5 |
4 8 1 7 |
% 8. 2 ‐ |
% 5. 0 ‐ |
| l Ca i isa io in ta t p n su ra nc e |
4 5 5 2 |
4 4 7 1 |
1. 8 % ‐ |
3. 0 % |
| b l ic f fe in I I I. Pu o r g s |
1 5 6 9 |
1 4 3 8 |
8. 4 % ‐ |
1 8. 8 % ‐ |
| l To ta |
3 3 8 2 4 |
3 6 8 5 5 |
3. % 7 |
6 % 4. |
| k h M t a r e s a r e s |
M 2 0 a y |
|---|---|
| i D t e p o s s |
% 1 0. 4 |
| 1) l fu d M t u u a n s |
% 1 1. 3 |
| 1) i l i i i C t t a p a s a o n n s u r a n c e |
6. 3 % 1 |
| 1) i i l R t t e r e m e n s a v n g s p a n s |
% 1 1. 3 |
131) Retirement savings plans ("Planos poupança reforma"‐PPR) include retirement savings plans in the form of mutual funds and capitalisation insurance. For this reason, the retirement savings plans are excluded in the calculation of the mutual funds and capitalisation insurance market shares.
141) It were considered all operations that have a financial impact on the Customers' account, namely, Transfers, Payments, Deposits and Withdrawals. 2) Total = branches, digital channels, automatic zones and ATM.
151) Active customers 1st account holders, individuals and companies.
2) Individuals BASEF (May 2020, accumulated 12 months) , ECSI (2019) and Companies DATAE (2019), main Banks.
Subscription to home banking channels
subscription or reactivation of access to home banking channels by the Customer (BPI Net and BPI Net Empresas), without having to go to the Branch.
Loans moratoria
Moratoria applications through BPI Net andBPI Net Empresas
Reinforcement of digital solutions in the Commercial Networks
secure communication between the Client and the Manager (messages, documentation and instructions) with a significant increase in remote service capabilities and contracting of new products and services
iFactoring: Integrated factoring
Other developments
Development of API ("Application Programming Interface") under the PSD2 / Open Banking Payments Directive.
Expansion of the Retirement Savings Plans offer in the home and mobile banking channels
In M.€ Jun 19 Jun 20 % Net interest income 214.8 220.0 + 2.4% Dividends and equity accounted income 12.0 10.0 ‐ 17.3% 1) Net fee and commission income 127.2 118.1 ‐ 7.1% COMMERCIAL BANKING GROSS INCOME 354.0 348.1 ‐ 1.7% Gains/(losses) on financial assets and liabilities ‐1.7 ‐12.4 Banking sector contribution 2) ‐7.9 ‐15.5 Other net income ‐12.4 ‐8.4 Gross income 331.9 311.8 ‐ 6.1% Gross income in the activity in Portugal
171) Explained by the reduction in the contribution of Cosec (equity accounted).
2) In 2019, the banking sector contribution was accrued over the 12 months of the year; in 2020 it was accounted for in the 1st quarter in full.
1) Additionally, as of Jun.20, BPI had 36 premier centres, 1 mobile branch and 34 corporate centres in Portugal, thus totalling 448 business units.
18
1) Recurrent operating expenses deducted of revenues from services rendered to CaixaBank.
19
1) Annual costs recorded in full in the 1st half 2020.
20
2) In 2019, the banking sector contribution was accrued over the 12 months of the year (15.3 M.€ in 2019).
1) Impairments after deducting recoveries of loans previously written off.
212) Non annualised.
1) NPE ratio considering the prudential supervision perimeter.
222) Coverage by impairments accumulated in the balance sheet for loans and guarantees; does not consider collaterals.
| € M |
1 9 De c |
2 0 M ar |
Ju 2 0 n |
|
|---|---|---|---|---|
| l p l b l To ice ia i i ta t s ty as er v |
1 8 0 4 |
1 6 4 5 |
1 7 5 9 |
|
| f he io fu ds Ne t a ts t ss e o p en s n n |
1 7 6 7 |
1 6 4 3 |
1 7 0 7 |
|
| l o f c f p l b l io ia i i ie Le t ve ov er ag e o en s n s |
9 8 % |
0 0 % 1 |
9 % 7 |
|
| 1) fu ds Pe io tu ns n n re rn |
1 2. 6 % |
6. 6 % ‐ |
2. 1 % ‐ |
| 9 De 1 c |
2 0 M ar |
2 0 Ju n |
||
|---|---|---|---|---|
| D isc t r te ou n a |
1. 3 % |
1. 8 5 % |
1. 4 % |
|
| la h Sa t te ry g ro w ra |
0. 9 % |
0. 9 % |
0. 9 % |
|
| h io Pe t te ns ns ro ra g w |
0. % 4 |
0. % 4 |
0. % 4 |
|
| l b le M i M ta ty ta or en : |
/ T V 8 8 9 0 |
|||
| l i b le M W ta ty ta or : om en |
T V 8 |
/ 8 9 0 – 3 y ea rs |
| ia l de ia io Ac tu t ar v ns |
3 0 + |
( ) 5 1 |
( ) 2 1 |
|---|---|---|---|
| ha he d C in isc t t r te ng e ou n a |
1 5 2 + |
( ) 1 2 3 |
2 9 + |
| fro fo l In in io tm t p t co m e m ve s en or |
( ) 1 2 3 |
7 2 + |
( ) 5 0 |
| 1 Q 2 0 |
2 Q 2 0 |
1 H 2 0 |
1) Non‐annualised ytd return.
232) Recognised directly in shareholders, in accordance with IAS19.
Consolidated capital
1) Phasing‐in capital ratios (with the phasing of the impact from the IFRS9 implementation) including the net income for the 1st half 2020. The phasing‐in capital ratios in June 20 calculated for the purposes of prudential reporting COREP (excluding the net income for the 1st half) are: CET1 of 13.6%, Tier 1 of 15.2% and total capital ratio of 16.9%.
24
251) Includes short‐term public debt of 0.25 Bi.€ (Portugal), with a residual average maturity of 0.2 years, and medium and long‐term debt of 4.4 Bi.€ (Portugal 55%, Spain 30% and Italy 15%) with an average residual maturity of 2.7 years.
2) Average 12 months, according to EBA guidance. Average amount (last 12 months) of LCR components calculation: Liquidity Reserves (5 170 M.€); Total net outflows (2 592 M.€). 3) Regulatory minimum from June 2021.
Social responsibility
BPI DEEPLY COMMITTED TO SUPPORTING FAMILIES, COMPANIES AND THE SOCIETY
% active digital clients1) 46%
271) Active customers 1st account holders, individuals and companies.
377
1
36
Branches
38 th.
Mobile branch
(30 June 2020)
Premier centres
Social responsibility
| f h i i h d b i l i i P R T P t t t a r n e r s p w a n m o s a o n o h h l i h d F t t t t t e w o e s o c e y o s u p p o r e o o k E N t m e r g e n c y e w o r h d d h 1. 7 M € t t t t m o r e a n o n a e o e d k F E N t o o m e r g e n c y e w o r |
h i i h h i i f l h d P M H t t t t t a r n e r s p w e n s ry o e a a n d f b l f l i i i t t t t t t o n a o n o a e s o a c a e i i b i d t t t t c o m m u n c a o n e w e e n p a e n s a n f i l i a m e s d f b l i 5 2 6 t t t o n a o n o a e s |
f h d l f S P t t t t u p p o r o r e e v e o p m e n o a o r u g u e s e lu i l i i f i i C E A‐ C E t t t t n g v e n a o r a e n e r o r n g n e e r n g d d l P D t t a n r o u c e v e o p m e n h i l 3 0 0 € t t t t o v e n a o r s |
|---|---|---|
| ix l C I P Ex C t t: a a m p u s e r o g r a m p r e s s o n e s f 1, 8 € i i j M t t o r n n o v a o n p r o e c s l i k d i d‐ C 1 9 t n e o o v |
"l ix " d B P I C Aw a a a a r s d l i i i 5 t t t t a w a r s o s u p p o r s o c a e n e s |
i i l k l h i l h D M t t t t g a a r e p a c e e r e a r s s c a n a n c w u d d h h i i i i i t t t, t t e a s a n g e nv e s m e n n p a r n e r s p w h i i f l M C t t t e n s ry o u u r e |
| 2 i P t o r u g u e s e w n n e r s f f l b i 6 I t t r o m a o a o e r a n l d d á i d iv i b d i i F F U L C E A a c u a e a r m c a a n s o a a n |
h 3. 7 5 M € t t t o s u p p o r e g r o u p s f f d b C O V I D 1 9 t t m o s a e c e y |
l C P # E E t t o r u g a n r a m e n a i S t t t t p p o r o a r s s u |
"la Caixa" Foundation and the Foundation for Science and Technology announce a permanent and multidisciplinary cooperation agreement in the areas of "HealthCare" research, Social Call and Promove Programme to support regions in the interior of Portugal
Social responsibility
"la Caixa" Foundation budget for 2020: 30 M.€ (19.3 M.€ in 2019)
| d i F t o u n a o n o w n p r o g r a m s |
l i B P I S o c a i b i l i R t e s p o n s y C i t t o m m e e |
"l " i 5 B P I C a a x a d A w a r s |
l i j i S t p e c a p r o e c s n l d h P t t o r u g a a n o e r t s u p p o r |
||
|---|---|---|---|---|---|
| "L " A D A P T A T I O N O F A C A I X A F O U N D A T I O N P R O G R A M M E S I N P O R T U G A L |
P R O X I M I T Y S U P P O R T T O P R O J E C T S S E L E C T E D B Y B P I S O C I A L R E S P O N S I B I L I T Y C O M M I T T E E |
A W A R D S T O S U P P O R T S O C I A L I N S T I T U T I O N S P R O J E C T S |
P R O J E C T S T O R E S P O N D T O S P E C I F I C C O U N T R Y C H A L L E N G E S |
||
| Hu iza Pr ma n og ra mm e |
l d Na H is Sc ien M tu to ra ry an ce us eu m |
h l d ho d C i o |
f P R O M O V E Co Pr ion te t ‐ t n s om o o |
||
| Inc Pr or p or a og ra mm e |
f he f Un ive i Po t ty to o rs o r |
l i da So ry |
bo de ion r r r eg s |
||
| l h r h, lse He Ca ixa Im t a es ea rc p u d ho lar h Sc ip an s s |
f f M Co Ar te t o us eu m o n m p or ar y lva E s |
Se ior n s |
fo fo G lo ba l la Sy ian S de P t tu ts rm r r n |
||
| l d e du ion Cu Cr iv i tu t t ty, re an ca : ea c |
Or he X X I tra c s |
Ca i ta p ac r |
So ia l i i ia ive Eq In ty t t c u |
||
| h b I ine Ex i i ion Pa ic ip t t t t to ra n s, r a ry |
ão ion l ic iva l M In M Fe te t t ar v rn a a us s |
l Ru ra |
h i No S B E t w va |
||
| d ho l f Sc Co De io ts, an o nc er sa de Em p re en |
Ca lo M ra m u us eu m |
lve da ús ica d Se Ca M rra s, sa an l f Na ion M An ien Ar t t t a us eu m o c |
|||
| lun Vo ing Co Ca ixa te te er : op er an s |
l ise d ia l i ia ive De So In tra t t ce n c |
lun d iew Vo ing Aw Re te er : ar v er s |
BPI ranking #1st place in the "Large Banks" category of the "Consumer Choice Awards" and "Five Stars Awards". BPI was recognised, for the 7th consecutive year, as the Portuguese Most Trusted Banking Brand. This is the first time a bank earns the three awards simultaneously, which value BPI's dedication to its Customers, offering them the best service and products.
BPI was distinguished as "Brand of Excellence" Superbrands, for the 7th consecutive year.
BPI earned the Wealth Tech Award 2020 for Best Private Bank for Portfolio Management Technology in Europe, from the PWM magazine. PWM positively assessed the impact of BPI's digital transformation on Customer Relationship and Wealth Management services.
| ( / bt Lon Ter De g m d ) Iss r C it R ing at ue re |
/ ( bt Lon Ter De g m ) Iss ing t ue r ra |
( fa lt R ing ) Iss r D at ue e u |
( Lon g‐ |
bt Ter De m |
/ ) Iss r R ing at ue |
|||
|---|---|---|---|---|---|---|---|---|
| … A a2, Aa 1 e Aa a |
A ( hig h), … A A, A AA |
A | ||||||
| … A A‐, AA AA AA + e , |
A | Aa 3 |
bo ds Mo rtg ag e n |
… A A‐, AA AA AA A + e , |
( low ) A A |
bo ds Mo rtg ag e n |
||
| A+ | A 1 |
A+ | ( ) h ig h A |
|||||
| A | A 2 |
A | A | k Ba 1 n |
||||
| A‐ | A 3 |
A‐ | ( low ) A |
|||||
| B B B+ |
Ba 1 a |
its De L T p os |
k Ba 1 n B B B+ |
its De L T p os de b Se ior L T t n |
( ) h ig h B B B |
l Po rtu a g |
||
| B B B Po rtu g a |
k Ba 1 l n |
Ba 2 a |
B B B l Po rtu g a |
B B B |
k Ba 3 n |
|||
| B B B‐ |
l Po Ba 3 rtu g a a |
k 1 Ba n |
B B B‐ |
( low ) B B B |
k Ba 2 n |
|||
| B B+ |
Ba 1 |
k k 3 Ba 2 Ba n n |
B B+ |
k Ba 3 n |
( h h ) B B ig |
|||
| B B |
k Ba 2 n |
Ba 2 |
B B |
k Ba 2 n |
B B |
|||
| B B‐ |
3 Ba |
B B‐ |
( ) low B B |
|||||
| B+ | B 1 |
B+ | ( h h ) B ig |
k Ba 5 n |
||||
| B | 2 B |
B | B | k Ba 4 n |
||||
| B‐ | B 3 |
B‐ | k Ba 4 n |
( low ) B |
||||
| C C C+ |
Ca 1 a |
k Ba 4 n |
C C C+ |
( h h ) C C C ig |
||||
| … C CC, CC C‐, CC, C e |
D | Ca 2 a |
k Ba 5 n |
… C CC, CC C‐, CC, C e D |
C ( low … C CC, CC |
), ( hig h), CC |
( low ), CC, CC C |
|
| Caa 3, Ca e C … |
( hig h), C ( low C, |
), D |
S&P (17 Sep.19) reaffirmed BPI and its long term senior debt rating of BBB, with Stable outlook.
1) With the phasing of the impact from IFRS9 implementation (‐0.2 p.p.).
32
(unaudited accounts)
(unaudited)
| 1 9 Ju n |
2 0 Ju n |
% |
|
|---|---|---|---|
| In M € |
1) d tat res e |
||
| Ne in inc t te t re s om e |
2 1 4. 8 |
2 2 0. 0 |
2. 4 % |
| de d D iv i inc n om e |
2. 3 |
2. 1 |
% 8. 7 ‐ |
| i d inc Eq ty te u ac co un om e |
9. 8 |
7. 9 |
% 1 9. 3 ‐ |
| fe d c iss io inc Ne t e a n om m n om e |
1 2 2 7. |
1 1 8. 1 |
1 % 7. ‐ |
| / ( los ) f l a d l b l d o he Ga ins ina ia ia i i ies ts t t se s on nc ss e an a n r |
( ) 1. 7 |
( ) 1 2. 4 |
‐ |
| he d e O ing inc t t r o p er a om e a n xp en se s |
( ) 2 0. 3 |
( ) 2 3. 9 |
1 7. 6 % ‐ |
| inc Gr os s om e |
3 3 1. 9 |
3 1 1. 8 |
6. 1 % ‐ |
| f f e S ta xp en se s |
( ) 1 2 2. 2 |
( ) 1 2 2. 4 |
% 0. 1 |
| he O dm in is ive t tra t r a ex p en se s |
( ) 4 7 5. |
( ) 0. 7 7 |
6. 3 % ‐ |
| d a De ia io isa io t t t p re c n a n mo r n |
( ) 2 6. 2 |
( ) 2 2. 8 |
1 3. 2 % ‐ |
| ing Op t er a ex p en se s |
( ) 2 2 3. 9 |
( ) 2 1 5. 9 |
3. 6 % ‐ |
| ing inc Ne t o t p er a om e |
1 0 8. 0 |
9 5. 9 |
% 1 1. 2 ‐ |
| irm los d o he is io Im t t p a en se s a n r p ro v ns |
1 0. 7 |
( ) 8 4. 0 |
‐ |
| d los he Ga ins in t ts a n se s o r a ss e |
1. 2 |
0. 7 |
3 8. 0 % ‐ |
| be fo Ne inc inc t ta om e re om e x |
1 1 9. 9 |
1 2. 7 |
8 9. 4 % ‐ |
| Inc ta om e x |
( ) 3 3. 1 |
( ) 6. 2 |
8 1. 2 % ‐ |
| inc Ne t om e |
8 6. 9 |
6. 5 |
% 9 2. 6 ‐ |
1) At 2019 year end, the Banking sector contribution was reclassified from "Income tax" to "Other operating income and expenses". The profit and loss account for the 1st half 2019 was restated to consider this reclassification.
| In € M |
Ju 1 9 n 1) d tat res e |
Ju 2 0 n |
|---|---|---|
| in inc Ne t te t re s om e |
2 8 1 4. |
2 2 0. 0 |
| de d D iv i inc n om e |
4 8. 3 |
4 2. 3 |
| d Eq i inc ty te u ac co un om e |
2 0. 2 |
1 1. 3 |
| fe d c Ne iss io inc t e a n om m n om e |
1 2 2 7. |
1 1 8. 1 |
| / ( ) ins los f ina ia l a d l ia b i l i ies d o he Ga ts t t se s on nc ss e an a n r |
( ) 6. 3 |
( ) 1 7. 9 |
| he d e O ing inc t t r o p er a om e a n xp en se s |
( ) 2 4. 9 |
( ) 2 7. 1 |
| Gr inc os s om e |
3 7 9. 2 |
3 4 6. 6 |
| f f e S ta xp en se s |
( ) 1 2 2. 2 |
( ) 1 2 2. 4 |
| he dm O in is ive t tra t r a ex p en se s |
( ) 7 5. 4 |
( ) 7 0. 7 |
| d De ia io isa io t t t p re c n a n am or n |
( ) 2 6. 2 |
( ) 2 2. 8 |
| Op ing t er a ex p en se s |
( ) 2 2 3. 9 |
( ) 2 9 1 5. |
| ing inc Ne t o t p er a om e |
1 5 5. 3 |
1 3 0. 8 |
| los d o he Im irm is io t t p a en se s a n r p ro v ns |
1 0. 7 |
( ) 8 4. 0 |
| los he Ga ins d in t ts a n se s o r a ss e |
1. 2 |
0. 7 |
| inc be fo inc Ne t ta om e re om e x |
1 6 7. 1 |
4 7. 5 |
| Inc ta om e x |
( ) 3 2. 7 |
( ) 5. 0 |
| Ne inc t om e |
1 3 4. 5 |
4 2. 6 |
| Ju 1 9 n |
Ju 2 0 n |
|
|---|---|---|
| ha ( ) Ea ing € rn s p er s re |
0. 0 9 |
0. 0 2 |
| h d f s ha ( l l ) Av ig in i io te er ag e w e nr . o re s m ns |
1 4 5 7 |
1 4 5 7 |
351) At 2019 year end, the Banking sector contribution was reclassified from "Income tax" to "Other operating income and expenses". The profit and loss account for the 1st half 2019 was restated to consider this reclassification.
| In M .€ |
De c 1 9 |
Jun 20 |
|---|---|---|
| AS SET S |
||
| Cas h a nd h b ala al b ks and he r d and de sits t ce ntr ot cas nce s a an em po |
1 0 68. 3 |
4 1 49. 1 |
| ial he ld f din t fa alu hro h p rof r lo nd at f Fin ir v it o air ets tra e t anc ass or g, a ug ss a val thr h o the reh siv e i ue ou g r co mp en nco me |
2 3 26. 8 |
2 4 15. 0 |
| ial d c Fin ise ets at ort ost anc ass am |
27 439 .3 |
29 571 .9 |
| Of wh ich : |
||
| Cu Loa to sto ns me rs |
23 987 .4 |
24 516 .6 |
| Inv in jo int d a cia est nts ntu tes me ve res an sso |
247 .2 |
242 .1 |
| ibl Tan ts g e a sse |
169 .6 |
149 .3 |
| ibl Int ts ang e a sse |
65. 8 |
73. 0 |
| Tax set as s |
272 .5 |
268 .2 |
| sal cla fie s h eld fo le No nd dis ssi d a t a ts a n‐c urr en sse po gr ou ps r sa |
14. 6 |
10. 0 |
| he Ot set r as s |
207 .6 |
212 .4 |
| al a Tot ts sse |
31 811 .6 |
37 091 .2 |
| LIA BIL ITIE S |
||
| ial liab ilit he ld f Fin ies din tra anc or g |
146 .2 |
144 .9 |
| ial liab ilit d c Fin ies ise at ort ost anc am |
27 640 .2 |
33 116 .6 |
| l Ba nks d C red De sits ‐ C it I itu tio tra nst po en an ns |
2 7 77. 1 |
5 6 61. 7 |
| sits De ‐ C ust po om ers |
23 231 .4 |
25 268 .0 |
| bt De uri tie s is d sec sue |
1 3 58. 7 |
1 8 04. 1 |
| du ub ord ted lia bil Me m i ina itie tem mo ran s: s s |
304 .4 |
304 .5 |
| he r fi l lia bil Ot cia itie nan s |
273 .0 |
382 .8 |
| vis ion Pro s |
44. 4 |
43. 7 |
| Tax lia bil itie s |
17. 2 |
19. 8 |
| he r li ab ilit Ot ies |
527 .4 |
510 .1 |
| al L iab ilit Tot ies |
28 375 .4 |
33 835 .1 |
| Sha reh old ' eq uit ibu tab le t he sha reh old of BP I ttr o t ers y a ers |
3 4 36. 1 |
3 2 56. 1 |
| No llin int tro sts n c on g ere |
0.0 | 0.0 |
| al S har eh old ' e Tot ity ers qu |
3 4 36. 1 |
3 2 56. 1 |
| al l iab ilit ies d S har eh old ' eq uit Tot an ers y |
31 811 .6 |
37 091 .2 |
(unaudited)
Annexes
| Ju 1 9 n |
Ju 2 0 n |
|
|---|---|---|
| / Gr inc A T A os s om e |
2. 4 % |
2. 0 % |
| / be fo d bu b le l l Ne inc inc inc i ing in A T A t ta t tr ta to tro te ts om e re om e x a n om e a n on ‐co n re s |
1. 1 % |
0. 3 % |
| / be fo d bu b le l l ha ho l de ' Ne inc inc inc i ing in t ta t tr ta to tro te ts om e re om e x a n om e a n on ‐co n re s av er ag e s re rs ( lu d l l ) i inc ing ing in ty tro te ts eq u n on ‐co n re s |
% 1 0. 4 |
% 2. 8 |
| f f e / 1 S Gr inc ta xp en se s os s om e |
3 2. 2 % |
3 3 % 5. |
| / 1 Op ing Gr inc t er a ex p en se s os s om e |
9. 0 % 5 |
6 2. 3 % |
| ( ) de i io Lo t to ts t an s ne p os ra |
% 1 0 2 |
% 9 9 |
1) Excluding early‐retirement costs.
| Ju 1 9 n |
Ju 2 0 n |
|
|---|---|---|
| fo ( ) ing io No N P E t n‐ p er rm ex p os ur es ra |
3. 3 % |
2. 0 % |
| by d l la ls N P E c im irm ts te ov er p a en an co ra |
1 2 6 % |
1 3 4 % |
| 2) f fo bo lu de d Ra io inc in N P E t t o r rn e n o |
% 0. 7 |
% 0. 5 |
2) Forborne according to EBA criteria and considering the scope of prudential supervision. On 30 Jun. 2020, the forborne was 520.2 M.€ (forborne ratio of 1.3%), of which 183.2 M.€ was performing loans (0.5% of the gross credit exposure) and 337.0 M.€ was included in NPE (0.9% of the gross credit exposure).
| In i l l ion f e ( M. € ) m s o uro |
Ju n 2 0 ort ed by rep BP I |
Con sol ida tion and ard isa tion , st and t ch e in FV ne ang adj ust nts de rive d fr the me om f bu bin atio sin com n o ess es |
Ju n2 0 B PI ntr ibu tio n t co o CA BK G rou p |
BP I t se gm en |
Eq uit y inv tm ts es en d o the an r t se gm en |
|---|---|---|---|---|---|
| Ne int inc t st ere om e |
22 0 |
( ) 5 |
21 5 |
21 7 |
( ) 2 |
| Div i de ds n |
42 | 42 | 2 | 40 | |
| uit d i Eq te y a cco un nco me |
11 | ( ) 1 |
10 | 7 | 3 |
| fee d c Ne mi ssi t s a n om on s |
11 8 |
11 8 |
11 8 |
||
| din Tra inc g om e |
( ) 18 |
( ) 18 |
( ) 12 |
( ) 6 |
|
| Ot he ing in & rat r o pe co me exp en ses |
( ) 27 |
7 | ( ) 20 |
( ) 20 |
|
| Gr in oss co me |
34 7 |
1 | 34 8 |
31 2 |
36 |
| Re tin nt cu rre op era g e xp en ses |
( ) 21 6 |
( ) 9 |
( ) 22 5 |
( ) 22 5 |
|
| din Ext tin rao r ary op era g e xp en ses |
|||||
| Pre ‐im irm inc t pa en om e |
13 1 |
( ) 9 |
12 2 |
87 | 35 |
| ‐im irm inc it ho d ina Pre t ut tra pa en om e w ex or ry ex pe nse s |
13 1 |
( 9 ) |
12 2 |
87 | 35 |
| los fin l as Im irm cia t set pa en ses on an s |
( ) 83 |
64 | ( ) 19 |
( ) 19 |
|
| he d p Ot r im irm isio ts pa en an rov ns |
( ) 1 |
( ) 1 |
( ) 1 |
||
| / Ga ins los dis ls & he ot ses on po sa rs |
1 | 1 | 1 | ||
| x i Pre ‐ta nco me |
48 | 55 | 10 3 |
67 | 36 |
| Inc e t om ax |
( ) 5 |
( ) 18 |
( ) 23 |
( ) 22 |
( ) 1 |
| fit for he d Pro rio t pe |
43 | 37 | 80 | 45 | 35 |
| he Mi rity in & ter est ot no s r |
|||||
| inc Ne t om e |
43 | 37 | 80 | 45 | 35 |
The difference between the earnings released by BPI and the earnings attributable to CaixaBank Group is largely a result of consolidation adjustments, standardisation adjustments and the net change in the fair value adjustments generated from the business combination.
Additionally, the BPI contribution to CaixaBank Group results is broken down into BPI segment and Investments segment contributions, the latter including the contributions from BFA and BCI.
| Ju 2 0 ne In m illio of e ( M.€ ) ns uro |
Re d by te p or B P I |
Ad jus tm ent s |
B P I c tr i bu t ion to on C A B K Gr ou p ( ) B P I se nt g me |
|---|---|---|---|
| d a dv Lo s t to t an s a n an ce o c us me rs, ne |
2 4 5 1 7 |
( ) 1 3 5 |
2 4 3 8 2 |
| l cu fun ds To ta sto me r |
3 5 6 5 8 |
( ) 4 5 0 7 |
3 1 1 5 1 |
The difference between BPI reported figures and those reported by CaixaBank for the BPI segment can largely be explained:
in Loans and advances to customers (net), by the associated fair value adjustments generated by the business combination at 30 June 2020 and consolidation adjustments (elimination of intra‐group balances: BPI credit to CaixaBank Payments);
in Customer funds, by the liabilities under insurance contracts and their fair value adjustments at 30 June 2020, as generated by the business combination, which have been reported in the banking and insurance business segment of CaixaBank following the sale of BPI Vida to VidaCaixa de Seguros y Reaseguros.
The European Securities and Markets Authority (ESMA) published on 5 October 2015 a set of guidelines relating to the disclosure of Alternative Performance Measures by entities (ESMA / 2015 / 1415). These guidelines are to be obligatorily applied with effect from 3 July 2016.
In addition to the financial information prepared in accordance with the International Financial Reporting Standards (IFRS), BPI uses a set of indicators for the analysis of performance and financial position, which are classified as Alternative Performance Measures, in accordance with the abovementioned ESMA guidelines. The information relating to those indicators has already been the object of disclosure, as required by the ESMA guidelines.
In the current presentation, the information previously disclosed is inserted by way of cross‐reference. A summarized list of the Alternative Performance Measures is presented next.
| Ac ron ym |
d de ign ion do d at te s a n s s a p |
its, Un t co nv en |
ion l s ign d a b bre via ion t a s a n s |
|---|---|---|---|
| td y |
‐da Yea r‐to te |
€, Eur EU R os, |
eur os |
| yoy | Yea r‐o n‐y ear |
M. €, M. eu ros |
mil lion eu ros |
| qo q |
rte ter qua r‐o n‐q uar |
th. €, t h. e uro s |
tho nd usa eur os |
| RC L |
las sifi ed Rec |
| cha nge |
| n.a | ilab le not ava |
||
| ECB | Cen l Ba nk Eur tra ope an |
0, – | nul l or ele irr t van |
| Bo P |
k o f P l Ban ort uga |
Liq | liqu id |
| CM VM |
o d ado of Val obi liár ( rke n) Com issã o M s M ios Sec urit ies Ma t C mis sio erc ore om |
vs. | ver sus |
| AP M |
Alt erf ativ e P e M ern orm anc eas ure s |
b.p | bas is p oin ts |
| IM M |
Int erb ank M Ma rke t one y |
p.p | oin tag t per cen e p |
| T1 | Tie r 1 |
E | ima Est te |
| CET 1 |
Co Equ ity Tie r 1 mm on |
F | For st eca |
| RW A |
Ris k w eig hte d a ts sse |
||
| RO TLT |
ted lon fin ing tio Tar ‐te ge ger rm re anc op era ns |
||
| LCR | uid Liq ity io rat cov era ge |
||
| BPI Grupo X CaixaBan | |
|---|---|
| -- | ------------------------------------ |
The following table presents, for the consolidated income statement, the reconciliation of the structure used in the current document (Banco BPI Consolidated results in the 1st half 2020) with the structure used in the financial statements and respective notes of the 2019 Annual Report.
| ed in t he ults ' Pr tio Str Res uct nta ure us ese n |
Jun 20 |
Jun 20 |
ted in the fin ial d re ctiv Str uct sta tem ent ote ure pre sen anc s an spe e n s |
|---|---|---|---|
| int st i Net ere nco me |
220 .0 |
220 .0 N |
et i t in nte res com e |
| Div ide nd inc om e |
42 .3 |
42. | 3 D ivid end inc om e |
| Equ ity ted inc acc oun om e |
11. 3 |
11. 3 S |
/ ( s) o har f pr ofit los f en titi ed for ing the uity tho d unt e o es a cco us eq me |
| fee d co Net issi inc an mm on om e |
118 .1 |
129 .0 F |
and issi inc ee co mm on om e |
| (1 0.8 |
) Fe nd mis sio e a com n e xpe nse s |
||
| ns/ Gai ( los ) on fin ial d li abi litie d o the ets ses anc ass an s an r |
(17 .9) |
0.0 | ins/ ( los ) on de itio f fi cia l as d li abi litie d a t fa ir v alu e th h p rof it o r lo Ga set t m net ses rec ogn n o nan s an s no eas ure rou g ss, |
| 2.8 | ins/ Ga ( los ) on fin ial d li abi litie s he ld f rad ing ets or t t ses anc ass an , ne |
||
| (1 ) 8.4 |
ns/ ( ) on fin for t fa rof Gai los ial t de sig ed din uls ori ly m d a ir v alu e th h p it o r lo ets nat tra net ses anc ass no g co mp eas ure rou g ss, |
||
| ( ) 2.4 |
ns/ ( los ) fro m h edg Gai ing unt t ses e a cco , ne |
||
| 0.1 | han diff s (g / los s), Exc ain net ge ere nce |
||
| Oth nd atin inc er o per g om e a exp ens es |
( 1) 27. |
19. | the 9 O ting inc r op era om e |
| (47 .1) |
Ot her ting op era ex pen ses |
||
| Gro ss i nco me |
346 .6 |
346 .6 G |
RO SS INC OM E |
| ff e Sta xpe nse s |
(1 4) 22. |
(1 4) 22. |
ff e Sta xpe nse s |
| Oth dm inis ive trat er a ex pen ses |
(7 ) 0.7 |
(7 ) 0.7 |
Oth dm inis ive trat er a ex pen ses |
| iati and isat ion Dep ort rec on am |
( 8) 22. |
( 8) 22. |
iati and isat ion Dep ort rec on am |
| Op ting era ex pen ses |
( .9) 215 |
( .9) 215 |
A dm inis ive dep iati and isat ion trat ort ex pen ses rec on am , |
| Net ting inc op era om e |
130 .8 |
130 .8 |
|
| los d o the Imp airm ovi sio ent ses an r pr ns |
( 0) 84. |
( 0.2 |
) P sal of p isio isio rov ns o r re ver rov ns |
| ( 8) 83. |
/ (rev al) of i los fin ial d a t fa alu e th h p rof r lo Imp airm airm ir v it o ent ent ets t m ers mp ses on anc ass no eas ure rou g ss |
||
| Gai nd los in oth ts ns a ses er a sse |
0.7 | irm (re sal) of imp airm in sub sid iari es j oin d a ciat Im ent ent t ve ntu pa ver res an sso es |
|
| / airm (re sal ) o f im irm n‐f ina nci al a Imp ent ent ts ver pa on no sse |
|||
| ( ) 0.0 |
ns/ ( ) on Gai los de itio f no n‐f ina nci al a ts, net ses rec ogn n o sse |
||
| 0.7 | fit/ ( los s) fro d d l gr s cl ifie d a s he ld f ale alif dis ued Pro isp ing tin tio t as set t qu m n on‐ cur ren s an osa oup ass or s no y as con op era ns |
||
| inc e b efo re i Net tax om nco me |
47. 5 |
47. 5 P |
FIT/ ( S) B RO LOS EFO RE T AX FRO M C ON TIN UIN G O PER ATI ON S |
| Inc e ta om x |
(5. 0) |
(5. 0) T |
late d to fit or l fro inc inu ing tio ont ax e xpe nse or om e re pro oss m c op era ns |
| inc e fr ntin uin atio Net om om co g o per ns |
42. 6 |
42. 6 P |
FIT/ RO ( LOS S) AFT AX FRO M C ON TIN UIN G O ATI ON S ER T PER |
| Net inc e fr dis tin ued tio om om con op era ns |
fit/ ( s) a Pro los fte x fr dis tin ued tio r ta om con op era ns |
||
| but abl roll Inc ttri ing int e to ont sts om e a no n‐c ere |
fit/ ( los s) for the riod ribu tab le t llin Pro inte att tro ts pe o n on‐ con g res |
||
| Net inc om e |
42. 6 |
42. 6 P |
FIT/ ( S) F RO LOS OR TH E P ERI OD AT TRI BUT AB LE T O O WN ERS OF TH E PA REN T |
Annexes
The following earnings, efficiency and profitability indicators are defined by reference to the above structure of the profit and loss account used in this document.
Gross income = Net interest income + Dividend income + Net fee and commission income + Equity accounted income + Gains/(losses) on financial assets and liabilities and other + Other operating income and expenses
Commercial banking gross income = Net interest income + Dividend income + Net fee and commission income + Equity accounted income excluding the contribution of stakes in African banks
Operating expenses = Staff expenses + Other administrative expenses + Depreciation and amortisation
Net operating income = Gross income ‐ Operating expenses
Net income before income tax= Net operating income – Impairment losses and other provisions + Gains and losses in other assets
Cost‐to‐income ratio (efficiency ratio) 1)= Operating expenses / Gross income
Core cost‐to‐income ratio (core efficiency ratio) 1) = (Operating expenses, excluding costs with early‐retirements and voluntary terminations and (only in 2016) gains with the revision of the Collective Labour Agreement (ACT) ‐ Income from services rendered to CaixaBank Group) / Commercial banking gross income
Return on Equity (ROE) 1) = Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders, excluding AT1 capital instruments
Return on Tangible Equity (ROTE) 1) = Net income for the period, less the interest cost of AT1 capital instruments recorded directly in shareholders' equity / Average value in the period of shareholders' equity attributable to BPI shareholders (excl. AT1 capital instruments) after deduction of intangible net assets and goodwill of equity holdings
Return on Assets (ROA) 1) = (Net income attributable to BPI shareholders + Income attributable to non‐controlling interests ‐ preference shares dividends paid) / Average value in the period of net total assets
Unitary intermediation margin = Loan portfolio (excluding loans to employees) average interest rate ‐ Deposits average interest rate
Gross income = Net interest income + Dividend income + Net fee and commission income + Equity accounted income + Gains/(losses) on financial assets and liabilities and other + Other operating income and expenses
41
On‐balance sheet Customer resources2) = Deposits + Capitalisation insurance of fully consolidated subsidiaries + Participating units in consolidated mutual funds
Assets under management3) = Mutual funds + Capitalisation insurance + Pension plans
1) Ratio referring to the last 12 months, except when indicated otherwise. The ratio can be computed for the cumulative period since the beginning of the year, in annualised terms. 2) The amount of on‐balance sheet Customer resources is not deducted from the applications of off‐balance sheets products (mutual funds and pension plans) in on‐balance sheet products.
3) Amounts deducted from participating units in the Group banks' portfolios and from off‐balance sheet products investments (mutual funds and pension plans) in other off‐balance sheet products.
4) Following the sale of BPI Vida e Pensões in Dec.17, the capitalisation insurance placed with BPI's Customers are recorded off balance sheet, as "third‐party capitalisation insurance placed with Customers", and pension funds management is excluded from BPI's consolidation perimeter.
BALANCE SHEET AND FUNDING INDICATORS (continuation)
Subscriptions in public offerings = Customers subscriptions in third parties' public offerings
Total Customer Resources = On‐balance sheet Customer Resources + Assets under management + Subscriptions in public offerings
Gross loans to customers = Gross loans and advances to customers (financial assets at amortised cost), excluding other assets (guarantee accounts and others) and reverse repos + Gross debt securities issued by Customers (financial assets at amortised cost)
Note: gross loans = performing loans + loans in arrears + receivable interests
Net loans to Customers= Gross loans to customers – Impairments for loans to customers
Loan‐to‐deposit ratio (CaixaBank criteria) = (Net loans to Customers ‐ Funding obtained from the EIB, which is used to provide credit) / Deposits and retail bonds
42
Impairments and provisions for loans and guarantees (in income statement) = Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss relative to loans and advances to Customers and to debt securities issued by Customers (financial assets at amortised cost), before deduction of recoveries of loans previously written off from assets, interest and others + Provisions or reversal of provisions for commitments and guarantees
Cost of credit risk= Impairments and provisions for loans and guarantees (in income statement) ‐ Recoveries of loans previously written off from assets, interest and other (in income statement)
Cost of credit risk as % of loan portfolio 1) = [Impairments and provisions for loans and guarantees (in income statement) ‐ Recoveries of loans previously written off from assets, interest and other] / Average value in the period of the gross loans and guarantees portfolio.
Performing loans portfolio = Gross customer loans ‐ (Overdue loans and interest + Receivable interests and other)
NPE Ratio= Ratio of non‐performing exposures (NPE) in accordance with the EBA criteria (prudential perimeter)
Coverage of NPE = [Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / Non‐performing exposures (NPE)
Coverage of NPE by impairments and associated collaterals = [Impairments for loans and advances to Customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collaterals associated to NPE] / Non‐performing exposures (NPE)
Non‐performing loans ratio ("credito dudoso", Bank of Spain criteria) = Non performing loans (Bank of Spain criteria) / (Gross customer loans + guarantees)
Non‐performing loans (Bank of Spain criteria) coverage ratio = [Impairments for loans and advances to customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments] / Non performing loans (Bank of Spain criteria)
Coverage of non‐performing loans (Bank of Spain criteria) by impairments and associated collaterals = [Impairments for loans and advances to customers (financial assets at amortised cost) + Impairments for debt securities issued by Customers (financial assets at amortised cost) + Impairments and provisions for guarantees and commitments + Collateral associated to credit] / Non performing loans (Bank of Spain criteria)
Impairments cover of foreclosed properties = Impairments coverage of foreclosed properties = Impairments for real estate received in settlement of defaulting loans / Gross value of real estate received in settlement of defaulting loans
1) Ratio referring to the last 12 months, except when indicated otherwise. The ratio can be computed for the cumulative period since the beginning of the year, in annualised terms.
BANCO BPI, S.A. Registered office: Rua Tenente Valadim, 284, Porto Share capital: € 1 293 063 324.98
Registered at Commercial Registry of Porto under registration number PTIRNMJ 501 214 534 and tax identification number 501 214 534
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.