Published on 03/08/2016

Quaterly financial information


  • Net banking income excluding non-economic items** of EUR 7.2bn (vs. EUR 6.5bn in Q2 15), +11.5%*, including the capital gain on the Visa disposal (EUR 725m). Good commercial performance by the businesses.
  • Stable operating expenses vs. Q2 15
  • Continued decline in the cost of risk (commercial cost of risk(1) of 38 basis points in Q2 16 vs. 44 basis points in Q2 15)
  • Book Group net income of EUR 1,461m in Q2 16 vs. EUR 1,351m in Q2 15.

Group net income excluding non-economic items**: EUR 1,599m in Q2 16 (+44.6%* vs. Q2 15)

  • Good capital generation: fully-loaded CET 1 ratio of 11.1% (10.9% at end-2015). Total capital ratio of 16.7% (16.3% at end-2015)


  • Net banking income excluding non-economic items** of EUR 13.2bn (vs. EUR 12.8bn in H1 15)
  • Stable operating expenses excluding the effect of the Euribor fine refund and restated for IFRIC 21
  • Net cost of risk down -11.1% vs. H1 15
  • Group net income: EUR 2,385m in H1 16 vs. EUR 2,219m in H1 15

Group net income excluding non-economic items**: EUR 2,428m (+25.5%* vs. H1 15)

  • EPS**: EUR 2.77 in H1 16 vs. EUR 2.22 in H1 15 (+25%)(2).

Items relating to financial data for 2015 have been restated in net banking income and for the capital allocated to the businesses so as to take account of the new capital allocation rule based on 11% of the businesses’ RWA (risk-weighted assets).
The notions of net banking income for the pillars, operating expenses, IFRIC 21 adjustment, cost of risk in basis points, ROE, RONE, net assets, tangible net assets, EPS, non-economic items and the amounts serving as a basis for the different restatements carried out are presented in the methodology notes, section 10 of this press release, as are the principles for the presentation of prudential ratios.
The footnotes * and ** in this document are specified below
*      When adjusted for changes in Group structure and at constant exchange rates.
** Excluding non-economic items.

(1) Excluding litigation issues, in basis points for assets at the beginning of the period, including operating leases. Annualised calculation
(2) Excluding non-economic items. Gross EPS in H1 15: EUR 2.54 and EUR 2.71 in H1 16. See methodology note No. 3