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BankiaKey figures

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Key figures*:

  • The merger with Banco Mare Nostrum (BMN) consolidates Bankia’s position as Spain’s fourth largest financial institution.
  • In 2017, BFA completed the placement of an additional 7% of Bankia’s shares to institutional investors reaching an oversubscription of 2.3 times the initial offering.
  • The commercial strategy, the focus on efficiency and cost of risk control lead to an attributable profit of 816 million euros, allowing the dividend per share to be maintained at the same level as in 2016.
  • The Group’s commercial positioning is reflected in the growth of fee and commission income (+3.2% year-on-year and +1.9% quarter-on-quarter, without considering the BMN merger), offsetting part of the pressure that the yield curve continues to exert on net interest income.
  • In 2017 the Group registers 158,000 net new customers, the number of users of “Connect with your Expert” grow 94.8% and digital sales reach 13.4% of total Group sales (+3 percentage points vs. 2016, without considering the businesses contributed by BMN).
  • Lending to target segments increases, with year-on-year growth in new mortgage lending (+133.5%), consumer finance (+14.6%) and SMEs (+30.2%), not including BMN.
  • In managed funds the focus continues to be on the more liquid funds and on mutual funds. Without BMN’s contribution, it is a year of growth in demand deposits (+21.2%), savings accounts (+11.4%) and assets under management in mutual funds (+15.5%).
  • Non-performing loans, excluding BMN, are down 15.1% year-on-year and 4.5% quarter-on-quarter. The NPL ratio without BMN stands at 8.5% at year-end 2017, down 130 basis points year-on-year and 30 basis points quarter-on-quarter.
  • At the end of December 2017, after integrating BMN’s assets, the Group’s CET1 Phase-in ratio stands at 14.15% and the CET1 Fully Loaded ratio, at 12.66%. The Group’s Total Capital Fully Loaded ratio is 15.44% at year-end.

(*) Data at December 31, 2017.

Key figures

dec 17(1) dec 17(1) Change yoy Change yoy
Group Ex-BMN Dec-16 Group Ex-BMN
Balance sheet (€ million)
Total assets 213,932 179,098 190,167 12.5% (5.8%)
Loans and advances to customers (net)(2) 123,025 102,603 104,677 17.5% (2.0%)
Loans and advances to customers (gross)(2) 128,782 107,459 110,595 16.4% (2.8%)
On-balance-sheet customer funds 150,181 120,726 125,001 20.1% (3.4%)
    Customer deposits and clearing houses 130,396 101,810 105,155 24.0% (3.2%) 
    Borrowings, marketable securities 17,274 16,626 18,801 (8.1%) (11.6%) 
    Subordinated liabilities 2,511 2,291 1,045 140.2%
Total managed customer funds 175,960 143,191 145,097 21.3% (1.3%) 
Equity 13,222 12,709 12,303 7.5% 3.3% 
Common Equity Tier I - BIS III Phase In(3) 11,942 11,538 11,329  5.4% 1.8% 
Solvency (%)
Common Equity Tier I - BIS III Phase In(3) 13.88% 16.64% 14.70%. -0.82 p.p. +1.94 p.p. 
Total capital ratio - BIS III Phase In(3) 16.57% 19.72% 16.03%. +0.53 p.p +3.69 p.p. 
Ratio CET1 BIS III Fully Loaded(3) 12.33% 14.83% 13.02%. (0.70) p.p. +1.82 p.p. 
Risk management (€ million and %)
Total risk 136,353 114,811 117,205  16.3% (2.0%) 
Non performing loans 12,117 9,740 11,476 5.6% (15.1%) 
NPL provisions (4) 6,151 5,221 6,323  (2.7%) (17.4%) 
NPL ratio 8.9% 8.5%  9.8%. -0.9 p.p. -1.3 p.p. 
NPL coverage ratio (4) 50.8% 53.6% 55.1%. -4.3 p.p. -1.5 p.p. 
Key ratios (%) (5) 
Cost to Income ratio (Operating expenses / Gross income) 51.6% 51.2% 48.9%. +2.7 p.p. +2.3 p.p. 
R.O.A. (Profit after tax / Average total assets)(6) 0.4% 0.4% 0.4%. -
RORWA (Profit after tax / RWA)(7) 0.9% 1.2% 1.0%  -0.1 p.p. +0.2 p.p. 
ROE (Profit attributable to the group / Equity)(8)  6.6% 6.7%   6.7% -0.1 p.p.
ROTE ( Profit attributable to the group  / Average tangible equity)(9)   6.8% 6.8%   6.9% -0.1 p.p. -0.1 p.p. 
 
dec 17(1) dec 17(1) Change yoy Change yoy
Group Ex-BMN Dec-16 Group Ex-BMN
Results (€ million)
Net interest income 1,968 1,943 2,148  (8.4%) (9.6%) 
Gross income 3,064 3,027 3,166  (3.2%) (4.4%) 
Pre-provision profit 1,483 1,477 1,619  (8.4%) (8.8%) 
Profit/(loss) attributable to the Group 816 816 804  1.5% 1.4% 

(1) Group data at 2017 includes figures post merger between Bankia and BMN, integrating BMN full balance sheet at year end and one month of P&L of BMN. The Ex-BMN data excludes the merger effect.
(2) Includes transactions with BFA (Dec-17 €47mn; Dec-16 €125mn).
(3) Does not include unrealised gains on the available for sale sovereign portfolio.
(4) Group coverage at Dec-17 including additional provisions due to the IFRS 9 application would have been 56,5%.
(5) Group data at Dec-17 excludes the €312mn non recurrent integration costs due to the merger between Bankia and BMN.
(6) Profit after tax divided by average total assets.
(7) Profit after tax divided by risk weighted assets at year end.
(8) Attributable profit divided by the previous 12 months equity average excluding the expected dividend payment.
(9) Attributable profit divided by the previous 12 months tangible equity average excluding the expected dividend payment.
(10) Number of shares and prices at Dec-16 were adjusted to the reverse split executed on June 2017.
(11) Using the last price on 29th December 2017 and 30th December 2016.
(12) Attributable profit excluding the non recurrent integration costs and divided by the number of shares in issue.
(13) Total Equity less intangible assets divided by the number of shares in issue.

31-dec-17(1) 31-dec-17(1) Change yoy Change yoy
Group Ex-BMN Dec-16 Group Ex-BMN
Bankia share
Number of shareholders 192,055 - 241,879  (20.6%) -
Number of shares in issue (million)(10) 3,085 - 2,879 7.1%
Closing price (end of period, €)(10) (11) 3.99 3.88 2.7%
Market capitalisation (€ million) 12,300 11,183  10.0%
Earnings per share (€)(5) (12) 0.26 0.28 (5.3%)
Tangible book value per share(13) (€)   4.34 4.38  (1.1%)
PER (Last price (11) / Earnings per share  (5)) 15.07  -  13.91 8.4%
PTBV (Last price (11) / Tangible book value per share)   0.92 -  0.89 3.7%
Dividend per share (cc/share)   11.024 -  11.024 -
Additional information
Number of branches 2,402 1,705 1,855 29.5% (8.1%) 
Number of employees 17,757 13,463 13,505 31.5% (0.3%) 

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