Common Equity Tier 1 (CET1) Capital (Net of deductions and after transitional adjustments):
As of 31/12/2015: 5,142 mln EUR
As of 30/06/2016: 4,332 mln EUR
CET1 Capital Elements and Deductions
Element
31/12/2015
30/06/2016
Capital instruments eligible as CET1 Capital
4,900
4,900
Retained earnings
-1,653
-2,094
Accumulated other comprehensive income
118
116
Other Reserves
2,941
3,047
Funds for general banking risk
0
0
Minority interest given recognition in CET1 capital
19
9
Adjustments to CET1 due to prudential filters
-17
-52
Intangible assets (including Goodwill)
-293
-276
DTAs that rely on future profitability
-1,183
-1,193
IRB shortfall of credit risk adjustments
-22
-86
Defined benefit pension fund assets
-314
-357
Reciprocal cross holdings in CET1 Capital
0
0
Excess deduction from ATI items over ATI Capital
-223
-161
Deductions related to assets with 1.250% risk weight
0
0
Holdings of CET1 capital instruments (non-significant investment)
0
0
Deductible DTAs from temporary differences
0
0
Holdings of CET1 capital instruments (significant investment)
-159
-135
Amount exceeding the 17.65% threshold
-54
-228
Additional deductions of CET1 Capital due to Article 3 CRR
0
0
CET1 capital elements or deductions - other
0
0
Transitional adjustments
1,083
843
Capital Ratios (Transitional Period)
Common Equity Tier 1 Capital Ratio: 13.47% (31/12/2015), 12.00% (30/06/2016)
Tier 1 Capital Ratio: 13.47% (31/12/2015), 12.00% (30/06/2016)
Total Capital Ratio: 13.47% (31/12/2015), 12.03% (30/06/2016)
Fully Loaded CET1 Capital Ratio
CET1 Capital (Fully loaded):
As of 31/12/2015: 4,282 mln EUR
As of 30/06/2016: 3,650 mln EUR
CET1 Capital Ratio (Fully loaded):
As of 31/12/2015: 11.31%
As of 30/06/2016: 10.20%
Risk Exposure Amounts
Risk Exposure Type
As of 31/12/2015 (mIn EUR)
As of 30/06/2016 (mIn EUR)
Credit Risk
35,631
33,829
Securitisation and re-securitisation in the banking book
1,357
1,395
Contributions to the default fund of a CCP
0
0
Other credit risk
34,274
32,433
Market Risk (Position, FX and commodities)
526
365
Total Risk Exposure Amount:
As of 31/12/2015: 38,168 mIn EUR
As of 30/06/2016: 36,105 mIn EUR
Profit and Loss (P&L)
Item
As of 31/12/2015 (mln EUR)
As of 30/06/2016 (mln EUR)
Interest Income
1,327
580
Of which: Debt Securities Income
84
41
Of which: Loans and Advances Income
1,132
508
Interest Expenses
893
312
Of which: Deposits Expenses
428
141
Of which: Debt Securities Issued Expenses
404
153
Dividend Income
7
16
Net Fee and Commission Income
363
145
Gains or (-) losses on derecognition of financial assets
-16
47
Gains or (-) losses on financial assets held for trading
-24
1
Gains or (-) losses on financial assets at fair value through profit or loss
19
-7
Gains or (-) losses from hedge accounting
-13
18
Exchange Differences
-5
-3
Net Other Operating Income/(Expenses)
-128
-43
Total Operating Income, Net
637
441
Administrative Expenses
667
276
Depreciation
71
29
Provisions or (-) reversal of provisions
-61
56
Commitments and guarantees given
-1
0
Other provisions
-60
56
Profit or (-) loss before tax from continuing operations
-1,045
-423
Profit or (-) loss after tax from continuing operations
-1,024
-327
Profit or (-) loss after tax from discontinued operations
19
-5
Profit or (-) loss for the year
-1,005
-332
Of which: Attributable to owners of the parent
-1,004
-330
Capital Components and Deductions
Tier 1 Capital (net of deductions): 5,142 mln EUR (31/12/2015), 4,332 mln EUR (30/06/2016)
Tier 2 Capital (net of deductions): 0 mln EUR (31/12/2015), 11 mln EUR (30/06/2016)
Tier 2 Capital instruments: 9 mln EUR (31/12/2015), 1 mln EUR (30/06/2016)
Other Tier 2 Capital components and deductions: 90 mln EUR (31/12/2015), 120 mln EUR (30/06/2016)
Tier 2 transitional adjustments: -100 mln EUR (31/12/2015), -111 mln EUR (30/06/2016)
Capital Requirements and Regulation
Capital requirements are based on Articles 4(118), 72, 32 to 35, and 48 of CRR for CET1 capital deductions.
Transitional adjustments are applied for CET1 and Tier 2 capital under various provisions, including Articles 469 to 472, 478, 480 to 487, and 36(1) point (j) and (k) of CRR.
Core capital ratios are calculated using COREP CODE and Articles 92(3), 95, 96, and 98 of CRR.
Key Observations
The CET1 capital decreased from 5,142 mln EUR to 4,332 mln EUR between 31/12/2015 and 30/06/2016.
The capital ratios also declined, indicating a reduction in capital adequacy during the period.
Risk exposure for credit and market risks decreased, suggesting a reduction in the bank's risk profile.
The P&L showed a decline in net income, with losses recorded in both periods.
Transitional adjustments were applied to CET1 and Tier 2 capital, affecting the capital structure.
The fully loaded CET1 capital ratio also dropped, indicating a potential impact on the bank's capital adequacy under a more comprehensive capital calculation.
