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Key figures

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Bankia Key Figures at DECEMBER 31th, 2019

1.287

Robust sales and the containment of costs have led to a 3.5% increase in the core result to 1.287 billion euros.

541

Bankia closes 2019 posting an attributable profit of 541 million euros and has resolved to propose to the General Meeting of Shareholders the distribution of dividends totalling 355 million euros, increasing the pay-out and maintaining the diviend per share at the same level as in 2018.

53.3%

In 2019, digital sales comprise 36% of all sales and 53.3% of the group’s customers bank through digital channels.

13,02%

Turning to solvency, the group has pushed ahead generating capital organically and has posted a Fully-Loaded CET1 ratio of 13.02% and a Phase-In CET1 ratio of 14.33%. On a fully-loaded basis, the group has generated 63 bp of capital since December 2018.

 

Key Figures:

Robust sales and the containment of costs have led to a 3.5% increase in the core result to 1.287 billion euros.

The Group has obtained synergies of 220 million euros in 2019, exceeding the Strategic Plant target. Cost savings have led to an improvement in the recurring efficiency ratio, which reached 62% at the December 2019 close – 1.6 percentage points (pp) below the 2018 level.

Bankia closes 2019 posting an attributable profit of 541 million euros and has resolved to propose to the General Meeting of Shareholders the distribution of dividends totalling 355 million euros, increasing the pay-out and maintaining the diviend per share at the same level as in 2018.

Our customer satisfaction score has risen from 86.9 points in 2018 to 90.3 at the 2019 close. The net change in the number of customers is 243,000 since the beginning of the Strategic Plan and direct income deposits increase by 190,000 in the same period.

In 2019, digital sales comprise 36% of all sales and 53.3% of the group’s customers bank through digital channels.

The group’s successful sales campaign has led to growth in performing credit (not doubtful) fuelled by high levels of new lending. In 2019, the stock of consumer loans rose by 12.5%, while loans to companies increased by 9%, taking Bankia’s market share, at November, to 5.88% in the consumer segment (+30 bp) and to 7.75% in the companies segment (+33 bp).

In 2019, Bankia has leaded the rankings for net flows into mutual funds, enjoying a 50 bp rise in its market share to 7.05%, while in insurance, premiums on new policies are up 26.2% compared to 2018.

Non-performing assets or NPAs (non-performing exposures and gross foreclosed assets) are down 23.2% on the 2018 close. The stock of NPAs has shrank by over 8.4 billion euros since December 2017, which equates to 94% of the reduction target set in the Strategic Plan for 2020.

Turning to solvency, the group has pushed ahead generating capital organically and has posted a Fully-Loaded CET1 ratio of 13.02% and a Phase-In CET1 ratio of 14.33%. On a fully-loaded basis, the group has generated 63 bp of capital since December 2018.

Key figures

  Dec-19 Dec-18 Change
Balance sheet (€ million)
Total assets 208,468 205,223 1.6%
Loans and advances to customers (net) 117,444 118,295 (0.7%)
Loans and advances to customers (gross) 120,623 122,505 (1.5%)
On-balance-sheet customer funds 143,464 144,680 (0.8%)
    Customer deposits and clearing houses 124,785 126,319 (1.2%)
    Borrowings, marketable securities 15,697 15,370 2.1%
    Subordinated liabilities 2,983 2,990 (0.2%)
Total customer funds 174,267 171,793 1.4%
Equity 13,142 13,030 0.9%
Common Equity Tier I - BIS III Phase In 11,126 11,367 (2.1%)
Solvency (%)
Common Equity Tier I - BIS III Phase In 14.33% 13.80% +0.53 p.p.
Total capital ratio - BIS III Phase In 18.10% 17.58% +0.52 p.p.
Ratio CET1 BIS III Fully Loaded 13.02%  12.39% +0.63 p.p.
Risk management (€ million and %)
Total risk 128,156 129,792 (1.3%)
Non performing loans 6,465 8,416 (23.2%)
NPE provisions 3,491 4,593 (24.0%)
NPE ratio 5.0% 6.5% -1.5 p.p.
NPE coverage ratio 54.0% 54.6% -0.6 p.p.
  Dec-19 Dec-18 Change
Results (€ million)      
Net interest income 2,023 2,049 (1.3%)
Gross income 3,245 3,368 (3.6%)
"Core" result (Net interest income + Net fees and commissions - Operating Expenses) 1,287 1,244 3.5%
Pre-provision profit 1,428 1,498 (4.6%)
Profit/(loss) attributable to the Group 541 703 (23.0%)
Key ratios (%)
Cost to Income ratio (Operating expenses / Gross income) 56.0% 55.5% +0.5 p.p.
R.O.A. (Profit after tax / Average total assets) (1) 0.3% 0.3% -
RORWA (Profit after tax / RWA) (2) 0.7% 0.9% -0.2 p.p.
ROE (Profit attributable to the group / Equity) (3) 4.2% 5.6% -1.4 p.p.
ROTE ( Profit attributable to the group / Average tangible equity) (4) 4.3% 5.7% -1.4 p.p.
  Dec-19 Dec-18 Change
Bankia share      
Number of shareholders 173,949 184,643 (5.8%)
Number of shares in issue (million) 3,070 3,085 (0.5%)
Closing price (end of period, €) (5) 1,90 2,56 (25.7%)
Market capitalisation (€ million) 5,840 7,898 (26.1%)
Earnings per share (€) (6) 0.18 0.23 (22.6%)
Tangible book value per share (€) (7) 4.21 4.18 0.8%
PER (Last price (5) / Earnings per share(6)) 10.79 11.23 (4.0%)
PTBV (Last price (5) / Tangible book value per share) 0.45 0.61 (26.3%)
Cash dividend per share (cents) (8) 11.576 11.576 -
Additional information      
Number of branches 2,275 2,298 (1.0%)
Number of employees 16,035 15,924 0.7%

(1) Profit after tax divided by average total assets for the period.

(2) Profit after tax divided by risk weighted assets at period end.

(3) Attributable profit divided by the previous 12 months average equity, excluding the expected dividend payment.

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

(5) Using the last price as of 31 December 2019 and 31 December 2018.

(6) Attributable profit divided by the number of shares in issue.

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

(8) 2019 includes the dividend proposal that will be presented at the Bankia AGM.

 

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