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Key figures

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Bankia Key Figures at December 31th, 2018

703

The Bankia Group posts attributable profit of 703 million euros in 2018, increasing dividends to shareholders by 5%.

+103,000

The number of customers with payroll and pension deposits is up 103,000 compared to 2017, with in-store card turnover increasing by 12.8% and POS turnover up 15.2%.

6.55%

Bankia’s share of the mutual funds market is up 17 basis points (bps) to 6.55%, and net new customer funds reach a market share of 10.53%.

13.80%

Regarding capital adequacy, the Group reports a CET1 Phase-in ratio of 13.80% and a CET1 Fully Loaded ratio of 12.39%. Both ratios are considerably higher than the regulatory minimums imposed for 2018: +524 bps higher than the regulatory CET1 Phase-in ratio (8.56%) and +314 bps higher than the regulatory CET1 Fully Loaded ratio (9.25%).

 

Key Figures:

  • The Bankia Group has posted an attributable profit of 703 million euros in 2018, increasing dividends to shareholders by 5%.
  • The reorganisation of the branch network and workforce speeded up the capture of synergies, resulting in a reduction of operating expenses of 4.3% on a constant perimeter basis compared to 2017.
  • There has been a sharp rise in the uptake of digital tools among our customers. At the December 2018 close, sales through digital channels account for 25.8% of total sales and digital customers represent 45.4% of the Group’s total customer base.
  • The number of customers with payroll and pension deposits is up 103,000 compared to 2017, with in-store card turnover increasing by 12.8% and POS turnover up 15.2%.
  • New lending continues its positive trend. In 2018, new mortgages granted increase by 6.1%. New consumer lending and new lending to companies is up 12.8% and 12.6%, respectively. The growth in new loans boosts the stock of gross loans and receivables by 14.1% year-on-year in consumer lending and by 4.4% in the companies loan segment (companies and property developers, excluding NPLs).
  • Efforts to attract customer funds still focus on mutual funds and demand deposits. In 2018, Bankia’s share of the mutual funds market is up 17 basis points (bps) to 6.55%, and net new customer funds reach a market share of 10.53%.
  • In the fourth quarter of 2018, Bankia has closed a deal to sell problematic assets with a gross book value of 3,100 million euros as of the cut-off date of the deal to institutional investors. This deal together with the rest of the reduction of non-performing loans and foreclosed assets reduces the volume of non-performing assets by more than 6,000 million euros in 2018, cutting the Group’s NPL ratio to 6.5% and the gross NPA ratio to 8.2%.
  • In terms of capital adequacy, the Group has a CET1 Phase-in ratio of 13.80% and a CET1 Fully Loaded ratio of 12.39%. Both ratios are considerably higher than the regulatory minimums imposed for 2018: +524 bps higher than the regulatory CET1 Phase-in ratio (8.56%) and +314 bps higher than the regulatory CET1 Fully Loaded ratio (9.25%).

Key figures

  Dec-18 Dec-17 Change
Balance sheet (€ million)
Total assets 205,223 213,932 (4.1%)
Loans and advances to customers (net) 118,295 123,025 (3.8%)
Loans and advances to customers (gross) 122,505 128,782 (4.9%)
On-balance-sheet customer funds 144,680 150,181 (3.7%)
    Customer deposits and clearing houses 126,319 130,396 (3.1%)
    Borrowings, marketable securities 15,370 17,274 (11.0%)
    Subordinated liabilities 2,990 2,511 19.1%
Total customer funds 171,793 177,481 (3.2%)
Equity 13,030 13,222 (1.5%)
Common Equity Tier I - BIS III Phase In 11,367 12,173 (6.6%)
Solvency (%)
Common Equity Tier I - BIS III Phase In (1) 13.80% 13.84% -0.04 p.p.
Total capital ratio - BIS III Phase In (1) 17.58% 16.56% +1.02 p.p.
Ratio CET1 BIS III Fully Loaded (1) 12.39%  12.46% -0.07 p.p.
Risk management (€ million and %)
Total risk 129,792 136,353 (4.8%)
Non performing loans 8,416 12,117 (30.5%)
NPL provisions (2) 4,593 6,151 (25.3%)
NPL ratio 6.5% 8.9% -2.4 p.p.
NPL coverage ratio (2) 54.6% 50.8% +3.8 p.p.
  Dec-18 Dec-17(3) Change
Results (€ million)      
Net interest income 2,049 1,968 4.1%
Gross income 3,368 3,064 9.9%
Pre-provision profit 1,498 1,483 1.0%
Profit/(loss) attributable to the Group 703 505 39.4%
Key ratios (%)(4)
Cost to Income ratio (Operating expenses / Gross income) 55.5% 51.6% +3.9 p.p.
R.O.A. (Profit after tax / Average total assets) (4) 0.3% 0.3% -
RORWA (Profit after tax / RWA) (5) 0.9% 0.6% +0.3 p.p.
ROE (Profit attributable to the group / Equity) (6) 5.6% 4.1% +1.5 p.p.
ROTE ( Profit attributable to the group / Average tangible equity) (7) 5.7% 4.2% +1.5 p.p.
  Dec-18 Dec-17 Change
Bankia share      
Number of shareholders 184,643 192,055 (3.86%)
Number of shares in issue (million) 3,085 3,085 -
Closing price (end of period, €) (8) 2.56 3.99 (35.8%)
Market capitalisation (€ million) 7,898 12,300 (35.8%)
Earnings per share (€) (9) 0.23 0.16 39.4%
Tangible book value per share (€) (10) 4.18 4.34 (3.6%)
PER (Last price (8) / Earnings per share(9)) 11.23 24.38 (53.9%)
PTBV (Last price (8) / Tangible book value per share) 0.61 0.92 (33.4%)
Dividend per share (cc/share) (11) 11.576 11.024 5%
Additional information      
Number of branches 2,298 2,423 (5.2%)
Number of employees 15,924 17,757 (10.3%)

(1) In Dec-17, capital ratios post merger with BMN and including IFRS 9 impact

(2) In Dec-17, the Group coverage, with the inclusion of additional provisions for impairments resulting from IFRS 9 application, would have been 56,5%

(3) Dec-17 data includes one month of BMN P&L account given that the merger took place with accounting effect on 01/12/2017

(4) Annualized profit after tax divided by average total assets

(5) Annualized profit after tax divided by risk weighted assets at period end

(6) Annualized attributable profit divided by the previous 12 months equity average, excluding the expected dividend payment

(7) Annualized Attributable profit divided by the previous 12 months tangible equity average, excluding the expected dividend payment

(8) Using the last price as of 31st December 2018 and 29th December 2017

(9) Annualized attributable profit divided by the number of shares in issue. 2017 excludes the non recurrent integration costs

(10) Total Equity less intangible assets divided by the number of shares in issue

(11) Dec-18 includes the dividend proposal for 2018 that will be presented at the Bankia AGM

 

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