Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2023 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity File Number | 001-12518 |
Entity Registrant Name | Banco Santander, S.A. |
Entity Address, Address Line One | 28660 Boadilla del Monte (Madrid) |
Entity Address, Country | ES |
Entity Central Index Key | 0000891478 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Period End Date | Jun. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | Q2 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | |
ASSETS | |||
CASH, CASH BALANCES AT CENTRAL BANKS AND OTHER DEPOSITS ON DEMAND | € 207,546 | € 223,073 | |
FINANCIAL ASSETS HELD FOR TRADING | 183,834 | 156,118 | |
NON-TRADING FINANCIAL ASSETS MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS | 5,796 | 5,713 | |
FINANCIAL ASSETS DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS | 9,645 | 8,989 | |
FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | 86,756 | 85,239 | |
FINANCIAL ASSETS AT AMORTISED COST | 1,180,302 | 1,147,044 | |
HEDGING DERIVATIVES | 7,532 | 8,069 | |
CHANGES IN THE FAIR VALUE OF HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RISK | (4,711) | (3,749) | |
INVESTMENTS | 7,679 | 7,615 | |
Joint venture entities | 1,935 | 1,981 | |
Associated entities | 5,744 | 5,634 | |
ASSETS UNDER INSURANCE OR REINSURANCE CONTRACTS | 243 | 308 | |
TANGIBLE ASSETS | 34,159 | 34,073 | |
Property, plant and equipment | 33,118 | 33,044 | |
Investment properties | 1,041 | 1,029 | |
INTANGIBLE ASSETS | 19,528 | 18,645 | |
Goodwill | 14,126 | 13,741 | |
Other intangible assets | 5,402 | 4,904 | |
TAX ASSETS | 29,840 | 29,987 | |
Current tax assets | 8,793 | 9,200 | |
Deferred tax assets | 21,047 | 20,787 | |
OTHER ASSETS | 9,193 | 10,082 | |
Insurance contracts linked to pensions | 97 | 104 | |
Inventories | 10 | 11 | |
Other | 9,086 | 9,967 | |
NON-CURRENT ASSETS HELD FOR SALE | 3,151 | 3,453 | |
TOTAL ASSETS | 1,780,493 | 1,734,659 | |
LIABILITIES | |||
FINANCIAL LIABILITIES HELD FOR TRADING | 134,888 | 115,185 | |
FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS (*) | [1] | 36,220 | 40,268 |
FINANCIAL LIABILITIES AT AMORTISED COST | 1,446,882 | 1,423,858 | |
HEDGING DERIVATIVES | 10,288 | 9,228 | |
CHANGES IN THE FAIR VALUE OF HEDGED ITEMS IN PORTFOLIO HEDGES OF INTEREST RATE RISK | (309) | (117) | |
LIABILITIES UNDER INSURANCE OR REINSURANCE CONTRACTS (*) | [1] | 17,584 | 16,426 |
PROVISIONS | 8,389 | 8,149 | |
TAX LIABILITIES | 9,648 | 9,468 | |
Current tax liabilities | 3,164 | 3,040 | |
Deferred tax liabilities | 6,484 | 6,428 | |
OTHER LIABILITIES | 14,859 | 14,609 | |
LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE | 0 | 0 | |
TOTAL LIABILITIES | 1,678,449 | 1,637,074 | |
SHAREHOLDERS´ EQUITY | |||
SHAREHOLDERS´ EQUITY | 127,258 | 124,732 | |
CAPITAL | 8,092 | 8,397 | |
Called up paid capital | 8,092 | 8,397 | |
Unpaid capital which has been called up | 0 | 0 | |
SHARE PREMIUM | 44,373 | 46,273 | |
EQUITY INSTRUMENTS ISSUED OTHER THAN CAPITAL | 704 | 688 | |
Equity component of the compound financial instrument | 0 | 0 | |
Other equity instruments issued | 704 | 688 | |
OTHER EQUITY | 196 | 175 | |
ACCUMULATED RETAINED EARNINGS | 74,112 | 66,702 | |
REVALUATION RESERVES | 0 | 0 | |
OTHER RESERVES | (5,413) | (5,454) | |
(-) OWN SHARES | (47) | (675) | |
PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT | 5,241 | 9,605 | |
(-) INTERIM DIVIDENDS | 0 | (979) | |
OTHER COMPREHENSIVE INCOME (LOSS) | (33,789) | (35,628) | |
ITEMS NOT RECLASSIFIED TO PROFIT OR LOSS | (4,956) | (4,635) | |
ITEMS THAT MAY BE RECLASSIFIED TO PROFIT OR LOSS | (28,833) | (30,993) | |
NON-CONTROLLING INTEREST | 8,575 | 8,481 | |
Other comprehensive income | (1,484) | (1,856) | |
Other items | 10,059 | 10,337 | |
TOTAL EQUITY | 102,044 | 97,585 | |
TOTAL LIABILITIES AND EQUITY | 1,780,493 | 1,734,659 | |
Pension and other post-retirement obligations | |||
LIABILITIES | |||
PROVISIONS | 2,284 | 2,392 | |
Other long term employee benefits | |||
LIABILITIES | |||
PROVISIONS | 859 | 950 | |
Taxes and other legal contingencies | |||
LIABILITIES | |||
PROVISIONS | 2,558 | 2,074 | |
Contingent liabilities and commitments | |||
LIABILITIES | |||
PROVISIONS | 756 | 734 | |
Other provisions | |||
LIABILITIES | |||
PROVISIONS | 1,932 | 1,999 | |
Loan commitments granted | |||
SHAREHOLDERS´ EQUITY | |||
MEMORANDUM ITEMS: OFF BALANCE SHEET AMOUNTS | 283,903 | 274,075 | |
Financial guarantees granted | |||
SHAREHOLDERS´ EQUITY | |||
MEMORANDUM ITEMS: OFF BALANCE SHEET AMOUNTS | 14,401 | 12,856 | |
Other commitments granted | |||
SHAREHOLDERS´ EQUITY | |||
MEMORANDUM ITEMS: OFF BALANCE SHEET AMOUNTS | 113,266 | 92,672 | |
For own-use | |||
ASSETS | |||
Property, plant and equipment | 13,718 | 13,489 | |
Leased out under an operating lease | |||
ASSETS | |||
Property, plant and equipment | 19,400 | 19,555 | |
Investment properties | € 872 | € 804 | |
[1]See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Income Statements - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
IFRS Statement [Line Items] | ||
Interest income | € 49,922 | € 30,869 |
Interest expense | (29,002) | (12,460) |
Interest income/ (charges) | 20,920 | 18,409 |
Dividend income | 382 | 335 |
Income from companies accounted for using the equity method | 296 | 312 |
Commission income | 8,277 | 7,792 |
Commission expense | (2,174) | (1,940) |
Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net | 22 | 233 |
Gain or losses on financial assets and liabilities held for trading, net | 263 | 718 |
Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss | 26 | (15) |
Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net | (194) | 756 |
Gain or losses from hedge accounting, net | 108 | 128 |
Exchange differences, net | 1,077 | (1,077) |
Other operating income | 480 | 819 |
Other operating expenses | (1,504) | (1,461) |
Income from assets under insurance and reinsurance contracts | 414 | 1,349 |
Expenses from liabilities under insurance and reinsurance contracts | (383) | (1,238) |
Total income | 28,010 | 25,120 |
Administrative expenses | (10,873) | (9,993) |
Staff costs | (6,603) | (5,948) |
Other general and administrative expenses | (4,270) | (4,045) |
Depreciation and amortisation cost | (1,606) | (1,442) |
Provisions or reversal of provisions, net | (1,330) | (935) |
Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss and net gains and losses from modifications | (6,237) | (4,763) |
Impairment of investments in subsidiaries, joint ventures and associates, net | 0 | 0 |
Impairment on non-financial assets, net | (92) | (61) |
Tangible assets | (78) | (24) |
Intangible assets | (5) | (29) |
Others | (9) | (8) |
Gain or losses on non financial assets and investments, net | 277 | (4) |
Gains or losses on non-current assets held for sale not classified as discontinued operations | (59) | (7) |
Operating profit/(loss) before tax | 8,090 | 7,915 |
Tax expense or income from continuing operations | (2,281) | (2,374) |
Profit/(loss) for the period from continuing operations | 5,809 | 5,541 |
Profit/( loss) after tax from discontinued operations | 0 | 0 |
Profit/(loss) for the period | 5,809 | 5,541 |
Profit attributable to non-controlling interests | 568 | 647 |
Profit/(loss) attributable to the parent | € 5,241 | € 4,894 |
Earnings/(losses) per share | ||
Basic (in euro per share) | € 0.31 | € 0.27 |
Diluted (in euro per share) | € 0.31 | € 0.27 |
Other financial assets and liabilities | ||
IFRS Statement [Line Items] | ||
Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net | € 16 | € 205 |
Financial assets at fair value through other comprehensive income | ||
IFRS Statement [Line Items] | ||
Interest income | 3,629 | 2,211 |
Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss and net gains and losses from modifications | 6 | (1) |
Financial assets at amortised cost | ||
IFRS Statement [Line Items] | ||
Interest income | 37,503 | 26,073 |
Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net | 6 | 28 |
Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss and net gains and losses from modifications | (6,243) | (4,762) |
Other interest income | ||
IFRS Statement [Line Items] | ||
Interest income | 8,790 | 2,585 |
Reclassification of financial assets at fair value through other comprehensive income | ||
IFRS Statement [Line Items] | ||
Gain or losses on financial assets and liabilities held for trading, net | 0 | 0 |
Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss | 0 | 0 |
Reclassification of financial assets at amortized cost | ||
IFRS Statement [Line Items] | ||
Gain or losses on financial assets and liabilities held for trading, net | 0 | 0 |
Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss | 0 | 0 |
Other gains (losses) | ||
IFRS Statement [Line Items] | ||
Gain or losses on financial assets and liabilities held for trading, net | 263 | 718 |
Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss | € 26 | € (15) |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Recognized Income and Expense - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Statement of comprehensive income [abstract] | ||
CONSOLIDATED PROFIT/(LOSS) FOR THE PERIOD | € 5,809 | € 5,541 |
OTHER RECOGNISED INCOME AND EXPENSE | 2,091 | 214 |
Items that will not be reclassified to profit or loss | (489) | 433 |
Actuarial gains and losses on defined benefit pension plans | (402) | 843 |
Non-current assets held for sale | 0 | 0 |
Other recognised income and expense of investments in subsidiaries, joint ventures and associates | (5) | (1) |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income | (201) | (334) |
Gains or losses resulting from the accounting for hedges of equity instruments measured at fair value through other comprehensive income, net | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedged item) | (41) | 37 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedging instrument) | 41 | (37) |
Changes in the fair value of financial liabilities at fair value through profit or loss attributable to changes in credit risk | (50) | 123 |
Income tax relating to items that will not be reclassified | 169 | (198) |
Items that may be reclassified to profit or loss | 2,580 | (219) |
Hedges of net investments in foreign operations (effective portion) | (1,527) | (1,693) |
Revaluation gains (losses) | (1,527) | (1,693) |
Amounts transferred to income statement | 0 | 0 |
Other reclassifications | 0 | 0 |
Exchange differences | 3,094 | 4,462 |
Revaluation gains (losses) | 3,056 | 4,462 |
Amounts transferred to income statement | 38 | 0 |
Other reclassifications | 0 | 0 |
Cash flow hedges (effective portion) | 596 | (2,604) |
Revaluation gains (losses) | (1,318) | (942) |
Amounts transferred to income statement | 1,914 | (1,662) |
Transferred to initial carrying amount of hedged items | 0 | 0 |
Other reclassifications | 0 | 0 |
Hedging instruments (items not designated) | 0 | 0 |
Revaluation gains (losses) | 0 | 0 |
Amounts transferred to income statement | 0 | 0 |
Other reclassifications | 0 | 0 |
Debt instruments at fair value with changes in other comprehensive income | 790 | (1,804) |
Revaluation gains (losses) | 782 | (2,411) |
Amounts transferred to income statement | 8 | (190) |
Other reclassifications | 0 | 797 |
Non-current assets held for sale | 0 | 0 |
Revaluation gains (losses) | 0 | 0 |
Amounts transferred to income statement | 0 | 0 |
Other reclassifications | 0 | 0 |
Share of other recognised income and expense of investments | 88 | 139 |
Income tax relating to items that may be reclassified to profit or loss | (461) | 1,281 |
Total recognised income and expenses for the year | 7,900 | 5,755 |
Attributable to non-controlling interests | 937 | 664 |
Attributable to the parent | € 6,963 | € 5,091 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Changes in Total Equity - EUR (€) € in Millions | Total | Capital | Share premium | Equity instruments issued (not capital) | Other equity instruments | Accumulated retained earnings | Revaluation reserves | Other reserves | (-) Own shares | Profit Attributable to shareholders of the parent | (-) Interim dividends | Other comprehensive income | Non-Controlling interest, Other comprehensive income | Non-Controlling interest, Other items |
Equity at beginning of period (Previously stated) at Dec. 31, 2021 | € 97,053 | € 8,670 | € 47,979 | € 658 | € 152 | € 60,273 | € 0 | € (4,477) | € (894) | € 8,124 | € (836) | € (32,719) | € (2,104) | € 12,227 |
Equity at beginning of period (Adjustments due to changes in accounting policies) at Dec. 31, 2021 | 0 | |||||||||||||
Equity at beginning of period (Adjustments due to errors) at Dec. 31, 2021 | 0 | |||||||||||||
Equity at beginning of period at Dec. 31, 2021 | 97,053 | 8,670 | 47,979 | 658 | 152 | 60,273 | 0 | (4,477) | (894) | 8,124 | (836) | (32,719) | (2,104) | 12,227 |
Total recognised income and expense | 5,755 | 4,894 | 197 | 17 | 647 | |||||||||
Other changes in equity | (5,346) | (273) | (1,706) | 14 | (1) | 6,425 | (561) | 884 | (8,124) | 836 | (4) | (3) | (2,833) | |
Issuance of ordinary shares | 0 | |||||||||||||
Issuance of preferred shares | 0 | |||||||||||||
Issuance of other financial instruments | 0 | |||||||||||||
Maturity of other financial instruments | 0 | |||||||||||||
Conversion of financial liabilities into equity | 0 | |||||||||||||
Capital reduction | 0 | (273) | (1,706) | 273 | 1,706 | |||||||||
Dividends recognised as distributions to owners | (1,236) | (869) | ||||||||||||
Dividends recognised as distributions to non-controlling interests | (367) | |||||||||||||
Purchase of equity instruments | (1,173) | (1,173) | ||||||||||||
Disposal of equity instruments | 357 | 6 | 351 | |||||||||||
Transfer from equity to liabilities | 0 | |||||||||||||
Transfer from liabilities to equity | 0 | |||||||||||||
Transfers between equity items | 1 | 7,294 | (1) | (8,124) | 836 | (4) | (3) | 3 | ||||||
Increases (decreases) due to business combinations | 31 | 31 | ||||||||||||
Share-based payment | (42) | (42) | ||||||||||||
Others increases or (-) decreases of the equity | (3,284) | 14 | 41 | (839) | (2,500) | |||||||||
Equity at end of period at Jun. 30, 2022 | 97,462 | 8,397 | 46,273 | 672 | 151 | 66,698 | 0 | (5,038) | (10) | 4,894 | 0 | (32,526) | (2,090) | 10,041 |
Equity at beginning of period (Previously stated) at Dec. 31, 2022 | 97,585 | 8,397 | 46,273 | 688 | 175 | 66,702 | 0 | (5,454) | (675) | 9,605 | (979) | (35,628) | (1,856) | 10,337 |
Equity at beginning of period (Adjustments due to changes in accounting policies) at Dec. 31, 2022 | 0 | |||||||||||||
Equity at beginning of period (Adjustments due to errors) at Dec. 31, 2022 | 0 | |||||||||||||
Equity at beginning of period at Dec. 31, 2022 | 97,585 | 8,397 | 46,273 | 688 | 175 | 66,702 | 0 | (5,454) | (675) | 9,605 | (979) | (35,628) | (1,856) | 10,337 |
Total recognised income and expense | 7,900 | 5,241 | 1,722 | 369 | 568 | |||||||||
Other changes in equity | (3,441) | (305) | (1,900) | 16 | 21 | 7,410 | 41 | 628 | (9,605) | 979 | 117 | 3 | (846) | |
Issuance of ordinary shares | 1 | 1 | ||||||||||||
Issuance of preferred shares | 0 | |||||||||||||
Issuance of other financial instruments | 0 | |||||||||||||
Maturity of other financial instruments | 0 | |||||||||||||
Conversion of financial liabilities into equity | 0 | |||||||||||||
Capital reduction | 0 | (305) | (1,900) | 305 | 1,900 | |||||||||
Dividends recognised as distributions to owners | (1,399) | (963) | ||||||||||||
Dividends recognised as distributions to non-controlling interests | (436) | |||||||||||||
Purchase of equity instruments | (1,723) | (1,723) | ||||||||||||
Disposal of equity instruments | 462 | 11 | 451 | |||||||||||
Transfer from equity to liabilities | 0 | |||||||||||||
Transfer from liabilities to equity | 0 | |||||||||||||
Transfers between equity items | 0 | 8,373 | 136 | (9,605) | 979 | 117 | 3 | (3) | ||||||
Increases (decreases) due to business combinations | (304) | (304) | ||||||||||||
Share-based payment | (66) | (66) | ||||||||||||
Others increases or (-) decreases of the equity | (412) | 16 | 87 | (411) | (104) | |||||||||
Equity at end of period at Jun. 30, 2023 | € 102,044 | € 8,092 | € 44,373 | € 704 | € 196 | € 74,112 | € 0 | € (5,413) | € (47) | € 5,241 | € 0 | € (33,789) | € (1,484) | € 10,059 |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Statements of Cash Flows - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Statement of cash flows [abstract] | |||
CASH FLOWS FROM OPERATING ACTIVITIES | € (11,895) | € 7,386 | |
Profit/(loss) for the period | 5,809 | 5,541 | |
Adjustments made to obtain the cash flows from operating activities | 13,720 | 11,307 | |
Depreciation and amortisation cost | 1,606 | 1,442 | |
Other adjustments | 12,114 | 9,865 | |
Net increase/(decrease) in operating assets | 45,762 | 90,128 | |
Financial assets held-for-trading | 23,291 | 36,879 | |
Non-trading financial assets mandatorily at fair value through profit or loss | 120 | 226 | |
Financial assets at fair value through profit or loss | 647 | (5,133) | |
Financial assets at fair value through other comprehensive income | (1,819) | (15,752) | |
Financial assets at amortised cost | 26,151 | 65,608 | |
Other operating assets | (2,628) | 8,300 | |
Net increase/(decrease) in operating liabilities | 15,842 | 83,182 | |
Financial liabilities held-for-trading | 16,830 | 29,376 | |
Financial liabilities designated at fair value through profit or loss (*) | [1] | (4,202) | 11,212 |
Financial liabilities at amortised cost | 4,132 | 41,445 | |
Other operating liabilities (*) | [1] | (918) | 1,149 |
Income tax recovered/(paid) | (1,504) | (2,516) | |
CASH FLOWS FROM INVESTING ACTIVITIES | (2,498) | (1,652) | |
Payments | 6,832 | 6,016 | |
Tangible assets | 4,705 | 4,387 | |
Intangible assets | 954 | 676 | |
Investments | 25 | 109 | |
Subsidiaries and other business units | 1,148 | 844 | |
Non-current assets held for sale and associated liabilities | 0 | 0 | |
Other payments related to investing activities | 0 | 0 | |
Proceeds | 4,334 | 4,364 | |
Tangible assets | 2,737 | 2,961 | |
Intangible assets | 0 | 0 | |
Investments | 374 | 138 | |
Subsidiaries and other business units | 838 | 729 | |
Non-current assets held for sale and associated liabilities | 385 | 536 | |
Other proceeds related to investing activities | 0 | 0 | |
CASH FLOWS FROM FINANCING ACTIVITIES | (2,358) | (7,123) | |
Payments | 4,623 | 7,604 | |
Dividends | 963 | 869 | |
Subordinated liabilities | 748 | 1,693 | |
Redemption of own equity instruments | 0 | 0 | |
Acquisition of own equity instruments | 1,723 | 1,173 | |
Other payments related to financing activities | 1,189 | 3,869 | |
Proceeds | 2,265 | 481 | |
Subordinated liabilities | 1,654 | 113 | |
Issuance of own equity instruments | 0 | 0 | |
Disposal of own equity instruments | 467 | 360 | |
Other proceeds related to financing activities | 144 | 8 | |
EFFECT OF FOREIGN EXCHANGE RATE DIFFERENCES | 1,224 | 1,976 | |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (15,527) | 587 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 223,073 | 210,689 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 207,546 | 211,276 | |
COMPONENTS OF CASH AND CASH EQUIVALENTS AT END OF PERIOD | |||
Cash | 8,195 | 8,568 | |
Cash equivalents at central banks | 186,134 | 191,065 | |
Other financial assets | 13,217 | 11,643 | |
Less: Bank overdrafts refundable on demand | |||
TOTAL CASH AND CASH EQUIVALENTS AT END OF PERIOD | 207,546 | 211,276 | |
In which: restricted cash | € 0 | € 0 | |
[1]See impact of IFRS 17 as at 31 of December 2022 (see Note 1.b). |
Introduction, basis of presenta
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of reclassifications or changes in presentation [abstract] | |
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information | Introduction, basis of presentation of the interim condensed consolidated financial statements and other information a) Introduction Banco Santander, S.A. ('the parent' or 'Banco Santander') is a private-law entity subject to the rules and regulations applicable to banks operating in Spain. The Bylaws and other public information of the Bank can be consulted at its registered office at Paseo de Pereda 9 -12, Santander. In addition to the operations carried on directly by it, Banco Santander is the head of a group of subsidiaries that engage in various business activities and which compose, together with it, Grupo Santander ('Santander' or 'The Group'). Grupo Santander's interim condensed consolidated financial statements ('interim financial statements') for the first six months ended 30 June 2023 were authorised and approved by Grupo Santander's directors at the board of directors meeting held on 25 July 2023. Grupo Santander's consolidated annual accounts for year 2022 were approved by shareholders at Banco Santander annual general meeting on 31 March 2023. b) Basis of presentation of the interim financial statements Under Regulation (EC) n.º 1606/2002 of the European Parliament and of the Council of 19 July 2002 all companies governed by the law of an EU Member State and whose securities are admitted to trading on a regulated market of any Member State must prepare their consolidated financial statements for the years beginning on or after 1 January, 2005 in conformity with the International Financial Reporting Standards ('IFRS') previously adopted by the European Union ('EU-IFRS'). In order to adapt the accounting system of Spanish credit institutions with the principles and criteria established by the IFRS adopted by the European Union ('EU-IFRS'), the Bank of Spain published circular 4/2017, dated 27 November 2017, and subsequent changes, on Public and Confidential Financial Reporting Standards and Financial Statement Formats. The consolidated annual accounts for 2022 were authorised at the board of directors meeting on 27 February 2023 in compliance with International Financial Reporting Standards as adopted by the European Union, taking into account Bank of Spain Circular 4/2017, and subsequent modifications, using the basis of consolidation, accounting policies and measurement bases described in Note 2 to the aforementioned consolidated annual accounts and, accordingly, they presented fairly Grupo Santander’s consolidated equity and consolidated financial position at 31 December 2022 and the consolidated results of its operations, and the consolidated cash flows in 2022. The aforementioned consolidated annual accounts, which are included in Grupo Santander’s Form 20-F filed with the U.S. Securities and Exchange Commission on 1 March 2023, and these interim financial statements are also in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board ('IFRS-IASB', and together with EU-IFRS, 'IFRS'). These interim financial statements were prepared and are presented in accordance with International Accounting Standard (IAS 34), Interim Financial Reporting, for the preparation of interim financial statements in accordance with the provisions of article 12 of Royal Decree 1362/2007 taking into account the requirements of Circular 3/2018, of June 28, of the Securities and Exchange Commission (CNMV). These interim financial statements will be included in the Half-Yearly Financial Information corresponding to the first half of 2023 that the Group presents in accordance with the aforementioned Circular 3/2018. In accordance with IAS 34, the interim financial statements are intended only to provide an update on the content of the latest consolidated annual accounts authorised for issue, focusing on new activities, events and circumstances occurring during the first six months, and does not duplicate information previously reported in the latest consolidated annual accounts. Consequently, these interim financial statements do not include all the information that would be required for a complete set of consolidated annual accounts prepared in accordance with IFRS and, accordingly, for a proper comprehension of the information included in these interim financial statements, they should be read together with Grupo Santander’s consolidated annual accounts for the year ended 31 December 2022. Grupo Santander policies include presenting the interim financial statements for its use in the different markets using the Euro as its presentation currency. The amounts held in other currencies and the balances of entities whose functional currency is not the Euro, have been translated to the presentation currency in accordance with the criteria indicated in Note 2.a to the consolidated annual accounts for 2022. As indicated in that note, for practical reasons, the balance sheet amount has been converted to the closing exchange rate, the equity to the historical type, and the income and expenses have been converted by applying the average exchange rate of the period; the application of such exchange rate or that corresponding to the date of each transaction does not lead to significant differences in the interim financial statements of Grupo Santander. The accounting policies and methods used in preparing these interim financial statements are the same as those applied in the consolidated annual accounts for 2022 taking into account the standards and interpretations with effective application date during the first six months of 2023, which are detailed below: – IFRS 17 Insurance Contracts and amendments to IFRS 17: new general accounting standard for insurance contracts, which includes the recognition, measurement, presentation and disclosure of information. Insurance contracts combine financial and service provision features that, in many cases, generate variable long- term cash flows. To properly reflect these characteristics, IFRS 17 combines the measurement of future cash flows with the recording of the contract result during the period in which the service is provided, presents separately the financial results from the results for the provision of the service and allows entities, through the choice of an accounting policy option, to recognize the financial results in the income statement or in other comprehensive income. Applicable retrospectively from 1 January 2023. The Group has carried out a project to implement IFRS 17 with all affected Group entities and has drawn up an accounting policy that establishes the accounting criteria for recording insurance contracts. Grupo Santander concluded the analysis of the effects of this new standard without having identified material equity impacts in its interim financial statements due to the application of said standard, except for a reclassification of the balance sheet to the heading 'Liabilities covered by insurance or reinsurance contracts', registered at 1 January 2023, of a portfolio of products for an amount of approximately EUR 16 billion, derived from the different treatment that this new standard establishes for the components of an insurance contract. – The amendments to IAS 1 Presentation of Financial Statements require companies to disclose material information about their accounting policies rather than their significant accounting policies. Applicable from 1 January 2023. – The amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors clarifies how to distinguish changes in accounting policies, which are generally applied retrospectively, from changes in accounting estimates, which are generally applied prospectively. Applicable from 1 January 2023. – The amendments to IAS 12 Income Taxes require companies to recognise deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. In addition, entities should recognise deferred tax assets (to the extent that it is probable that they can be utilised) and deferred tax liabilities at the beginning of the earliest comparative period for all deductible and taxable temporary differences associated with: • Right-of-use assets and lease liabilities. • Decommissioning, restoration and similar liabilities, and the corresponding amounts recognised as part of the cost of the related assets. The cumulative effect of recognising these adjustments is recognised in retained earnings, or another component of equity, as appropriate. Applicable from 1 January 2023. By the time of the preparation of these interim financial statements, there is an amendment to IAS 12 that was approved by the IASB on 23 May 2023 with an effective date of 1 January 2023, and that is pending adoption by the European Union for the current exercise. – The amendments to IAS 12 Income Taxes applies to income taxes arising from tax law enacted or substantively enacted to implement the Pillar Two model rules published by the Organisation for Economic Co-operation and Development (OECD), including tax law that implements qualified domestic minimum top-up taxes described in those rules. The amendment includes the mandatory and temporary exception to the recognition and breakdown of deferred tax assets and liabilities derived from said Pillar Two model rules (applicable from the date of publication of the amendment) and establishes additional information requirements, differentiating between whether said tax law has entered into force (applicable from the date of publication of the amendment), or said tax law is enacted or substantially enacted, in which case the information requirements will be necessary for the annual periods beginning on or after 1 January 2023 (without any information requirement in the intermediate periods). Banco Santander has not applied the aforementioned exception since there are no tax laws for the implementation of the model rules of Pillar Two in force in the financial year 2023 for the geographies in which the Group operates. The aforementioned amendments to accounting standards have not had a significant effect on Grupo Santander’s financial statements, except for what was disclosed before. All accounting policies and measurement bases with a material effect on the interim financial statements for 30 June 2023 were applied in their preparation. c) Use of critical estimates The consolidated results and the determination of the consolidated equity are sensitive to the accounting principles and policies, valuation criteria and estimates used by the directors of Banco Santander in preparing the interim financial statements. The main accounting principles, policies, and valuation criteria are indicated in Note 2 of the consolidated annual accounts of the year 2022, except for those indicated in these interim financial statements due to the rules that have come into effect during the first six months of the year 2023. The interim financial statements contain estimates made by the senior management of Banco Santander and of the consolidated entities in order to quantify certain of the assets, liabilities, income, expenses and obligations reported in the consolidated entities. These estimates, which were made on the basis of the best information available, relate mainly to the following: 1. The income tax expense, which is recognised in interim periods based on the best estimate of the weighted average tax rate expected by Grupo Santander for the full financial year; 2. The impairment losses on certain assets – financial assets at fair value through other comprehensive income, financial assets at amortised cost, non-current assets held for sale, investments in subsidiaries, joint ventures and associates, tangible assets and intangible assets; 3. The assumptions used in the calculation of the post-employment benefit liabilities and commitments and other obligations; 4. The useful life of the tangible and intangible assets; 5. The measurement of goodwill impairment arising on consolidation; 6. The calculation of provisions and the consideration of contingent liabilities; 7. The fair value of certain unquoted assets and liabilities; 8. The recoverability of deferred tax assets; and 9. The fair value of the identifiable assets acquired and the liabilities assumed in business combinations in accordance with IFRS 3. To update the previous estimates, the Group's management has taken into account the current macroeconomic scenario and the situation of the war in Ukraine, as well as the challenges derived from the inflationary scenario, the recent turbulence in the world banking sector, mainly due to the bankruptcy of some regional banks in the United States, a specific case of a merger in Europe, which has contributed to generate greater uncertainty and volatility in the markets. The Group's management has evaluated in particular the uncertainties caused by the current environment in relation to credit, liquidity and market risks, taking into account the best available information, to estimate the impact on the credit portfolio's impairment provision, and in the debt instruments' interest rates and valuation. During the first six months ended 30 June 2023, there have been no additional significant changes in the estimates made at the end of 2022, other than those indicated in these interim financial statements. d) Contingent assets and liabilities Note 2.o to Grupo Santander's consolidated annual accounts for the year ended 31 December 2022 includes information on the contingent assets and liabilities at that date. There were no significant changes in Grupo Santander's contingent assets and liabilities from 31 December 2022 to the date of formal preparation of these interim financial statements. e) Comparative information The comparative information in the balance sheet as at 31 December 2022 has been restated due to retrospective application of IFRS 17 (see Note 1.b). In order to interpret the changes in the balances with respect to 31 December 2022, it is necessary to take into consideration the exchange rate effect arising from the volume of foreign currency balances held by the Group in view of its geographic diversity (Note 50.b to the consolidated annual accounts for the year ended 31 December 2022) and the impact of the appreciation/depreciation of the various currencies against the euro in the first six months of 2023: Mexican peso (11.15%), US dollar (-2.16%), Brazilian real (7.51%), Pound sterling (3.35%), Chilean peso (4.02%) and Polish zloty (5.60%); as well as the evolution of the average exchange rates between comparable periods: New Mexican peso (12.84%), US dollar (1.11%), Brazilian real (0.89%), Pound sterling (-3.86%), Chilean peso (3.65%) and Polish zloty (0.25%). f) Seasonality of the Grupo Santander’s transactions The business activities carried on by Grupo Santander entities, and their transactions are not cyclical or seasonal in nature. Therefore, no specific disclosures are included in these explanatory notes to the interim financial statements for the first six months ended 30 June 2023. g) Materiality In determining the note disclosures to be made on the various items in the interim financial statements or other matters, Grupo Santander, in accordance with IAS 34, took into account their materiality in relation to the interim financial statements for the first six months ended 30 June 2023. h) Other information On 28 December 2022, the law establishing a temporary levy on credit institutions and financial credit establishments was published in Spain. On 1 January 2023, an amount of 224 million euros was recorded under the heading "Other operating expenses" in the profit and loss account in accordance with IFRIC 21 due to this new tax. i) Events after the reporting period From July 1, 2023 and up to the date of formulation of these interim financial statements corresponding to the first six months of 2023, there have been no relevant events other than those indicated in the interim financial statements. |
Grupo Santander
Grupo Santander | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of detailed information about business combination [abstract] | |
Grupo Santander | Grupo Santander Appendices I, II and III to the consolidated annual accounts for the year ended 31 December 2022 provide relevant information on Grupo Santander companies at that date and on the companies accounted for under the equity method. Also, Note 3 to the aforementioned consolidated annual accounts includes a description of the most significant acquisitions and disposals of companies performed by Grupo Santander in 2022, 2021 and 2020. The most significant transactions carried out during the first six months of 2023 or pending execution at 30 June 2023 are described below: Tender offer for shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México On 21 October 2022, Banco Santander, S.A. ('Banco Santander'), announced that it intended to make concurrent cash tender offers to acquire all of the shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México ('Santander México') in Mexico (Shares) and the United States (American Depositary Shares ('ADS')), which were not owned by Grupo Santander, which amounted to approximately 3.76% of Santander México's share capital. The offers were launched on 7 February 2023 and were originally scheduled to close on 8 March 2023. On 1 March 2023, Banco Santander announced its decision to extend the expiration date of the offers so that they could be concluded on 10 April 2023. Finally, after the offers' closing, 3.6% of the capital has accepted the offer, which raised the Group's stake in Santander México from 96.2% to 99.8%. Shareholders who participated in the offerings received 24.52 Mexican pesos (approximately 1.20 euro) per Share and US$ 6.6876 in cash for each ADS (i.e., the equivalent in United States dollars of 122.6 Mexican pesos in cash for each ADS at the dollar/Mexican peso exchange rate on the expiration date of April 10, 2023), which corresponded to the book value of the Santander México share according to the quarterly report of Santander México corresponding to the fourth quarter of the year 2022 in accordance with applicable legislation, with a total disbursement by Banco Santander of approximately EUR 300 million. The operation has led to an increase of EUR 13 million in Reserves and a decrease of EUR 313 million in minority interests. Once the offers were concluded and settled, Banco Santander proceeded to: (i) withdraw the ADSs from the listing on the New York Stock Exchange (“NYSE”) and the Shares from the registry before the Securities and Exchange Commission ('SEC') in the United States and; (ii) cancel the registration of the Shares in the National Securities Registry of the National Banking and Securities Commission ('CNBV'') and withdraw the listing of the Shares in the Mexican Stock Exchange, S.A.B. de C.V. ('BMV'). Said cancellation was approved by the extraordinary general shareholders' meeting of Santander México held on 30 November 2022, with the favourable vote of the holders of the shares that represent more than 95% of the shares of Santander México, as required by the Mexican Securities Market Law. Pursuant to Mexican law, on 12 May 2023, Banco Santander and Santander México have established a trust (the “Repurchase Trust”), to which the holders of the Shares that remain outstanding after the conclusion of the offers, to sell said Shares to the repurchase trust, at the same cash price that would have been paid to them in the Mexican offer with respect to the same. |
Shareholder remuneration system
Shareholder remuneration system and earnings per share | 6 Months Ended |
Jun. 30, 2023 | |
Earnings per share [abstract] | |
Shareholder remuneration system and earnings per share | Shareholder remuneration system and earnings per share a) Shareholder remuneration system The cash remuneration paid by Banco Santander to its shareholders in the first six months of 2023 and 2022 was as follows: 30-06-2023 30-06-2022 % of par Euros per Amount % of par Euros per Amount Ordinary shares 11.90 % 0.0595 963 10.30 % 0.0515 869 Other shares (without vote, redeemable, etc.) — — — — — — Total remuneration paid 11.90 % 0.0595 963 10.30 % 0.0515 869 Dividend paid out of profit 11.90 % 0.0595 963 10.30 % 0.0515 869 Dividend paid with a charge to reserves or share premium — — — — — — Dividend in kind — — — — — — Flexible payment — — — — — — The general meeting of shareholders approved on 31 March 2023 the payment of a complementary dividend in cash charged to the results of the financial year 2022, agreed at the board of directors on 27 February 2023, of EUR 5.95 cents per share that was effective as of 2 May 2023. Likewise, the general meeting of shareholders approved the implementation of a share repurchase program agreed by this board of directors for a maximum amount of EUR 921 million, which began on 1 March 2023 until 12 May 2023. At the board of directors held on 24 February 2022, it was agreed to pay a dividend of EUR 5.15 cents in cash per share corresponding to the year 2021, which became effective on 2 May 2022. It also approved the implementation of a share repurchase program charged to the results of the 2021 financial year for a maximum amount of 865 million, completed in May 2022. b) Earnings per share from continuing and discontinued operations i. Basic earnings per share Basic earnings per share for the period are calculated by dividing the net profit attributable to Grupo Santander for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares held in the period. Accordingly: 30-06-2023 30-06-2022 Profit attributable to the Parent (EUR million) 5,241 4,894 Remuneration of contingently convertible preferred securities (CCPS) (EUR million) (229) (292) 5,012 4,602 Of which: Profit or Loss from discontinued operations (non controlling interest net) (EUR million) — — Profit or Loss from continuing operations (CCPS net) (EUR million) 5,012 4,602 Weighted average number of shares outstanding 16,279,041,269 16,947,764,566 Basic earnings per share (euros) 0.31 0.27 Of which: from discontinued operations (euros) — — from continuing operations (euros) 0.31 0.27 ii. Diluted earnings per share Diluted earnings per share for the period are calculated by dividing the net profit attributable to Grupo Santander for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity and of perpetual liabilities contingently amortisable in their case by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares and adjusted for all the dilutive effects inherent to potential ordinary shares (share options, warrants and convertible debt instruments). Accordingly, diluted earnings per share were determined as follows: 30-06-2023 30-06-2022 Profit attributable to the Parent (EUR million) 5,241 4,894 Remuneration of contingently convertible preferred securities (CCPS) (EUR million) (229) (292) 5,012 4,602 Of which: Profit or Loss from discontinued operations (non controlling interest net) (EUR million) — — Profit or Loss from continuing operations (CCPS net) (EUR million) 5,012 4,602 Weighted average number of shares outstanding 16,279,041,269 16,947,764,566 Dilutive effect of options/receipt of shares 67,704,709 48,431,475 Adjusted number of shares 16,346,745,978 16,996,196,041 Diluted earnings per share (euros) 0.31 0.27 Of which: from discontinued operations (euros) — — from continuing operations (euros) 0.31 0.27 |
Remuneration and other benefits
Remuneration and other benefits paid to Banco Santander’s directors and senior managers | 6 Months Ended |
Jun. 30, 2023 | |
Remuneration And Other Benefits [Abstract] | |
Remuneration and other benefits paid to Banco Santander’s directors and senior managers | Remuneration and other benefits paid to Banco Santander’s directors and senior managers Note 5 to Grupo Santander’s consolidated annual accounts for the year ended 31 December 2022 details the remuneration and other benefits to members of Banco Santander’s Board of Directors and senior management in 2022. Following is a summary of the most significant data on the remunerations and benefits for the first six months ended 30 June 2023 and 2022: Remuneration of members of the board of directors (1) EUR thousand 30-06-2023 30-06-2022 Members of the board of directors: (2) Remuneration concept Fixed salary remuneration of executive directors 3,136 2,859 Variable salary remuneration of executive directors — — Directors fees 628 525 Bylaw-stipulated emoluments (annual emolument) 2,113 1,890 Other 1,407 1,317 Sub-total 7,284 6,591 Transactions with shares and/or other financial instruments — — 7,284 6,591 (1) The Notes to the consolidated annual accounts for 2023 will contain detailed and complete information on the remuneration paid to all the directors, including executive directors. (2) Mr. Jose Antonio Álvarez stepped down as Vice chair and CEO Executive Director on 31 December 2022. Designated as Vice chair Non - executive Director 1 January 2023. Mr. Héctor Grisi was designated member of the board on 1 January 2023. Mr. Germán de la Fuente was designated member of the board on 1 April 2022. Mr. Glenn Hutchings was designated member of the board on 20 December 2022. Mr. Álvaro Cardoso de Souza stepped down as member of the board on 1 April 2022. Mr. Ramón Martín Chávez Márquez stepped down as member of the board on 1 July 2022. Mr. Sergio Agapito Lires Rial stepped down as member of the board on 31 December 2022. Other benefits of members of the board of directors EUR thousand 30-06-2023 30-06-2022 Members of the board of directors Other benefits Advances — — Loans granted 144 133 Pension funds and plans: Endowments and/or contributions (1) 1,055 946 Pension funds and plans: Accumulated rights (2) 66,792 64,895 Life insurance premiums 563 769 Guarantees provided for directors — — (1) These correspond to the endowments and/or contributions made during the first six months of 2023 and 2022 in respect of retirement pensions, widowhood, orphanhood and permanent disability. (2) Corresponds to the rights accru ed by the directors in matters of pensions. Additionally, former members of the board had at 30 June 2023 and 30 June 2022 rights accrued for this concept for EUR 46,275 thousand and EUR 48,388 thousand, respectively. Remuneration of senior management (1)(2) The table below includes the corresponding amounts related to remunerations of senior management at 30 June 2023 and 2022, excluding the executive directors: EUR thousand 30-06-2023 30-06-2022 Senior management (1) Total remuneration of senior management (2) 12,761 13,978 (1) Remunerations received during the first six months by members of the senior management who ceased in their functions by 30 June 2023, amounted to EUR 511 thousand. During the first six months of 2022, no member of senior management terminated their duties. (2) The number of members of Banco Santander's senior management, excluding executive director s, is 14 a s at 30 June 2023 ( 15 persons at 30 June 2022 ). The variable annual remuneration (or bonuses) received for fiscal year 2022, both for directors and the rest of senior management, were included in the information on remuneration included in the annual report for that year. Similarly, the variable remuneration attributable to the 2023 results, which will be submitted for approval by the Board of Directors at the appropriate time, will be included in the financial statements for the current year. Funds and pension plans of senior management EUR thousand 30-06-2023 30-06-2022 Senior management (1) Pension funds: Endowments and / or contributions (2) 2,550 2,808 Pension funds: Accumulated rights (3) 55,451 56,222 (1) Contributions made during the first six months to members of the senior management who ceased in their functions by 30 June 2023, amounted to EUR 108 thousand. During the first six months of 2022, no member of senior management terminated their duties (2) Corresponds to the allocations and/or contributions made during the first six months of 2023 and 2022 as retirement pensions. (3) Corresponds to the rights accrued by members of senior man agement in the area of pensions. In addition, former members of senior management had at 30 June 2023 and 30 June 2022 rights accumulated for this same concept for EUR 90,401 thou sand and EUR 113,060 thousand, respectively. |
Financial assets
Financial assets | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of financial assets [abstract] | |
Financial assets | Financial assets a) Breakdown The detail, by nature and category for measurement purposes, of Grupo Santander's financial assets, other than the balances relating to Cash, cash balances at central banks and other deposits on demand and Hedging derivatives, at 30 June 2023 and 31 December 2022 is as follows, presented by the nature and categories for valuation purposes: EUR million 30-06-2023 Financial Non-trading Financial Financial Financial Derivatives 67,613 Equity instruments 13,349 4,055 1,729 Debt instruments 55,823 888 3,089 76,010 91,559 Loans and advances 47,049 853 6,556 9,017 1,088,743 Central Banks 12,406 — — — 17,871 Credit institutions 23,592 1 626 303 52,375 Customers 11,051 852 5,930 8,714 1,018,497 Total 183,834 5,796 9,645 86,756 1,180,302 EUR million 31-12-2022 Financial Non-trading Financial Financial Financial Derivatives 67,002 Equity instruments 10,066 3,711 1,941 Debt instruments 41,403 1,134 2,542 75,083 73,554 Loans and advances 37,647 868 6,447 8,215 1,073,490 Central Banks 11,595 — — — 15,375 Credit institutions 16,502 — 673 — 46,518 Customers 9,550 868 5,774 8,215 1,011,597 Total 156,118 5,713 8,989 85,239 1,147,044 Following is the gross exposure of financial assets subject to impairment stages at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Gross amount Gross amount Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Financial assets at fair value through other comprehensive income 84,841 160 97 85,098 83,118 184 24 83,326 Debt instruments 76,015 — 6 76,021 75,087 — 6 75,093 Loans and advances 8,826 160 91 9,077 8,031 184 18 8,233 Credit institutions 303 — — 303 — — — — Customers 8,523 160 91 8,774 8,031 184 18 8,233 Financial assets at amortised cost 1,097,848 71,743 33,395 1,202,986 1,070,025 66,588 32,997 1,169,610 Debt instruments 91,254 125 442 91,821 73,297 75 398 73,770 Loans and advances 1,006,594 71,618 32,953 1,111,165 996,728 66,513 32,599 1,095,840 Central Banks 17,871 — — 17,871 15,375 — — 15,375 Credit institutions 52,369 13 — 52,382 46,523 1 — 46,524 Customers 936,354 71,605 32,953 1,040,912 934,830 66,512 32,599 1,033,941 Total 1,182,689 71,903 33,492 1,288,084 1,153,143 66,772 33,021 1,252,936 On 30 June 2023, Grupo Santander has EUR 671 million (EUR 322 million on 31 December 2022) of exposure in impaired assets purchased with impairment, of which EUR 251 million still show signs of impairment, which mainly correspond to the business combinations carried out by Grupo Santander. b) Impairment allowances of financial assets at amortised cost portfolio The following is the movement that has taken place, during the first six months ended 30 June 2023 and 2022, in the balance of provisions that cover losses due to impairment of assets which comprise the heading balance of the financial assets at amortised cost: EUR million 30-06-2023 30-06-2022 Balance as at beginning of period 22,888 23,164 Impairment losses charged to income for the period 6,843 5,255 Of which: Impairment losses charged to income 11,225 9,720 Impairment losses reversed with a credit to income (4,382) (4,465) Perimeter change (37) — Write-off of impaired balances against recorded impairment allowance (6,831) (5,682) Exchange differences and other 492 937 Balance as at end of period 23,355 23,674 Of which, relating to: Impaired assets 14,271 13,707 Other assets 9,084 9,967 Of which: Individually calculated 2,858 2,719 Collectively calculated 20,497 20,955 Following is the movement of the loan loss provision broken down by impairment stage of loans and advances to customers recognised under 'Financial assets at amortised cost' as at 30 June 2023 and 30 June 2022: EUR million 30-06-2023 Stage 1 Stage 2 Stage 3 Total Impairment allowance as at beginning of period 3,611 5,124 13,931 22,666 Transfers between stages (454) 355 3,767 3,668 Variation due to credit risk 605 (377) 2,891 3,119 Write-offs — — (6,801) (6,801) Exchange differences and other 88 97 249 434 Carrying amount at end of period 3,850 5,199 14,037 23,086 EUR million 30-06-2022 Stage 1 Stage 2 Stage 3 Total Impairment allowance as at beginning of period 4,182 5,224 13,546 22,952 Transfers between stages (455) 381 2,618 2,544 Variation due to credit risk 473 (447) 2,695 2,721 Write-offs — — (5,682) (5,682) Exchange differences and other 249 324 332 905 Carrying amount at end of period 4,449 5,482 13,509 23,440 Previously written-off assets recovered during the first six months of 2023 and 2022 amount to EUR 864 million and to EUR 662 million, respectively. In addition, during the first six months of 2023 EUR 264 million were recognized for losses in the income statement due to renegotiation or contractual modifications mainly due to the CHF mortgage portfolio in Poland (EUR 169 million during the first six months of 2022). Considering these amounts, the recorded impairment of financial assets at amortised cost is EUR 6,243 million and EUR 4,762 million during the first six months of 2023 and 2022, respectively. c) Impaired assets of financial assets at amortised cost portfolio The movement during the first six months ended 30 June 2023 and 2022, in the balance of financial assets classified at amortised cost and considered impaired by reason for the credit risk is as follows: EUR million 30-06-2023 30-06-2022 Balance as at beginning of period 33,269 31,848 Net additions 6,480 5,710 Written-off assets (6,831) (5,682) Perimeter Changes (45) — Exchange differences and other 773 850 Balance at end of period 33,646 32,726 This amount, after deducting the related allowances, represents Grupo Santander's best estimate of the discounted value of the flows that are expected to be recovered from the impaired assets. d) Guarantees received Following is the breakdown of the value of the guarantees received to ensure the collection of the financial assets that comprise the heading of financial assets at amortized cost, distinguishing between real guarantees and other guarantees at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Real guarantees value 632,794 627,337 Of which: Impaired 12,028 11,846 Other guarantees value 93,967 96,645 Of which: Impaired 2,227 2,029 Total value of the guarantees received 726,761 723,982 e) Fair value of financial assets not measured at fair value Following is a comparison of the carrying amounts of Grupo Santander’s financial assets measured at other than fair value and their respective fair values at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Carrying amount Fair value Carrying amount Fair value Loans and advances 1,088,743 1,067,336 1,073,490 1,053,703 Debt instruments 91,559 89,085 73,554 70,373 ASSETS 1,180,302 1,156,421 1,147,044 1,124,076 The main valuation methods and inputs used in the estimation of the fair value of the financial assets of the previous table are detailed in Note 50.c of the consolidated annual accounts for the year 2022. |
Non-current assets held for sal
Non-current assets held for sale | 6 Months Ended |
Jun. 30, 2023 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Non-current assets held for sale | Non-current assets held for sale The detail, by nature, of Grupo Santander’s non-current assets held for sale at 30 June 2023 and 31 December 2022 is as follows presented by nature: EUR million 30-06-2023 31-12-2022 Tangible assets 3,125 3,435 Of which: Foreclosed assets 2,912 3,101 Of which: Property assets in Spain 2,335 2,596 Other tangible assets held for sale 213 334 Other assets 26 18 3,151 3,453 The balance of the provisions at 30 June 2023 is EUR 3,173 million (EUR 3,425 million at 31 December 2022). The charges recorded in the first six months of 2023 and 2022 amounted to EUR 63 million and EUR 100 million, respectively, and the recoveries undergone during those periods amount to EUR 16 million and EUR 33 million, respectively. |
Tangible assets
Tangible assets | 6 Months Ended |
Jun. 30, 2023 | |
Property, plant and equipment [abstract] | |
Tangible assets | Tangible assets a) Changes in the period In the first six months of 2023 and 2022, tangible assets (rights of use are not included) were acquired for EUR 4,705 million and EUR 4,387 million, respectively. Likewise, in the first six months of 2023 and 2022 tangible asset items were disposed of with a carrying amount of EUR 2,713 million and EUR 2,965 million, generating a net profit of EUR 24 million (net loss of EUR 4 million in the first semester of 2022). b) Property, plant and equipment purchase commitments At 30 June 2023 and 2022, Grupo Santander did not have any significant commitments to purchase property, plant and equipment items. c) Leasing rights As of 30 June 2023, Grupo Santander has tangible assets under lease for the amount of EUR 2,384 million (EUR 2,413 million at 31 December 2022). |
Intangible assets
Intangible assets | 6 Months Ended |
Jun. 30, 2023 | |
Intangible assets and goodwill [abstract] | |
Intangible assets | Intangible assets The detail of Intangible Assets - Goodwill at 30 June 2023 and 31 December 2022, based on the cash-generating units giving rise thereto, is as follows: EUR million 30-06-2023 31-12-2022 Banco Santander (Brazil) 3,756 3,503 SAM Investment Holdings Limited 1,444 1,444 Santander Consumer Germany 1,304 1,304 Santander Bank Polska 1,135 1,075 Santander Portugal 1,040 1,040 Santander US Auto 1,016 1,039 Santander España 998 998 Santander Holding USA (ex. Auto) 824 844 Santander UK 619 599 Banco Santander - Chile 570 548 Grupo Financiero Santander (Mexico) 522 469 Ebury Partners 308 298 Santander Consumer Nordics 199 215 Other entities 391 365 Total Goodwill 14,126 13,741 During the first semester of 2023 there has been an increase in goodwill of EUR 385 million mainly due to exchange differences (see Note 11), which in accordance with current regulations, have been recorded with a credit to the heading Other comprehensive income - Items that can be reclassified in results- Foreign currency translation of equity through the Statement of recognized income and expenses. Note 17 of the consolidated annual accounts for the year ended 31 December 2022 includes detailed information on the procedures followed by Grupo Santander to analyse the potential impairment of the goodwill recognised with the respect to its recoverable amount and to recognise the related impairment losses, where appropriate. In accordance with IAS 36, a Cash Generating Unit (CGU) to which goodwill has been assigned should be subjected to an annual impairment test as long as there are signs of impairment. In accordance with all mentioned before and the analysis made of the information available on the evolution of the different cash-generating units that could reveal the existence of indications of impairment, the directors of the Grupo Santander have concluded that during the first six months of 2023, there were no triggers that required the recording of impairments. |
Financial liabilities
Financial liabilities | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of financial liabilities [abstract] | |
Financial liabilities | Financial liabilities a) Breakdown The following is a breakdown of Grupo Santander's financial liabilities, other than the balances corresponding to the Derivatives - hedge accounting heading, as of 30 June 2023 and 31 December 2022, presented by nature and categories for valuation purposes: EUR million 30-06-2023 31-12-2022 Financial Financial Financial Financial Financial Financial Derivatives 62,259 64,891 Short Positions 22,352 22,515 Deposits 50,277 30,536 1,115,908 27,779 34,841 1,111,887 Central banks 16,216 829 58,644 5,757 1,740 76,952 Credit institutions 14,140 2,410 90,704 9,796 1,958 68,582 Customer 19,921 27,297 966,560 12,226 31,143 966,353 Debt instruments — 5,684 285,869 — 5,427 274,912 Other financial liabilities — — 45,105 — — 37,059 Total 134,888 36,220 1,446,882 115,185 40,268 1,423,858 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b) b) Information on issues, repurchases or redemptions of debt instruments issued The detail of the balance of debt instruments issued according to their nature is: EUR million 30-06-2023 31-12-2022 Bonds and debentures outstanding 217,735 211,597 Subordinated 26,864 25,717 Promissory notes and other securities 46,954 43,025 Total debt instruments issued 291,553 280,339 The detail, at 30 June 2023 and 2022, of the outstanding balance of the debt instruments, excluding promissory notes, which at these dates had been issued by Banco Santander or any other Group entity is disclosed below. Also included is the detail of the changes in this balance in the first six months of 2023 and 2022: EUR million 30-06-2023 Opening Perimeter Issuances or placements Repurchases or Exchange Closing Bonds and debentures outstanding 211,597 (1,467) 34,438 (28,534) 1,701 217,735 Subordinated 25,717 — 1,500 (36) (317) 26,864 Bonds and debentures outstanding and subordinated liabilities issued 237,314 (1,467) 35,938 (28,570) 1,384 244,599 EUR million 30-06-2022 Opening Perimeter Issuances or placements Repurchases or Exchange Closing Bonds and debentures outstanding 194,362 — 33,800 (27,376) 3,837 204,623 Subordinated 25,938 — 113 (853) 635 25,833 Bonds and debentures outstanding and subordinated liabilities issued 220,300 — 33,913 (28,229) 4,472 230,456 At 23 May 2023, Banco Santander, S.A. carried out an issue of subordinated bonds for an amount of EUR 1,500 million at a term of 10 years and 3 months. The issue coupon was fixed at 5.75% per year for the first 5 years and 3 months, with an option to redeem in August 2028, revising the coupon, in the event of non-amortization, even a margin of 285 points more the 5-year Euro Swap rate. At 25 April 2022, Banco Santander, S.A. proceeded to prepay all the Tier 1 Contingently Convertible Preferred Securities with ISIN code XS1602466424 and common code 160246642 in circulation, for a total nominal amount of 750 million euros and which trade on the Irish Stock Market 'Global Exchange Market' (the 'PPCC'). c) Other issues guaranteed by Grupo Santander At 30 June 2023 and 2022, there were no debt instruments issued by associates or non-Group third parties (unrelated) that had been guaranteed by Banco Santander or any other Group entity. d) Fair value of financial liabilities not measured at fair value Following is a comparison between the value by which Grupo Santander’s financial liabilities are recorded that are measured using criteria other than fair value and their corresponding fair value at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Carrying amount Fair value Carrying amount Fair value Deposits 1,115,908 1,114,308 1,111,887 1,108,918 Debt instruments 285,869 276,186 274,912 263,191 Liabilities 1,401,777 1,390,494 1,386,799 1,372,109 Additionally, other financial liabilities are accounted for EUR 45,105 million and EUR 37,059 million as of 30 June 2023 and 31 December 2022, respectively. |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2023 | |
Provisions [abstract] | |
Provisions | Provisions a) Provisions for Pensions and other post-retirements obligations and Other long term employee benefits The variation experienced by the balance of the Pensions and other post-retirements obligations and other long-term employee benefits from 31 December 2022 to 30 June 2023, is mainly due to benefit payments and premiums or contributions (see Note 11.d). b) Provisions for taxes and other legal contingencies and Other provisions Set forth below is the detail, by type of provision, of the balances at 30 June 2023 and at 31 December 2022 of Provisions for taxes and other legal contingencies and Other provisions. The types of provision were determined by grouping together items of a similar nature: EUR million 30-06-2023 31-12-2022 Provisions for taxes 741 679 Provisions for employment-related proceedings (Brazil) 475 301 Provisions for other legal proceedings 1,342 1,094 Provision for customer remediation 385 349 Provision for restructuring 659 641 Other 888 1,009 4,490 4,073 Relevant information is set forth below in relation to each type of provision shown in the preceding table: The provisions for taxes include provisions for tax-related proceedings. The provisions for employment-related proceedings (Brazil) relate to claims filed by trade unions, associations, the prosecutor’s office and ex-employees claiming employment rights to which, in their view, they are entitled, particularly the payment of overtime and other employment rights, including litigation concerning retirement benefits. The number and nature of these proceedings, which are common for banks in Brazil, justify the classification of these provisions in a separate category or as a separate type from the rest. The Group calculates the provisions associated with these claims in accordance with past experience of payments made in relation to claims for similar items. When claims do not fall within these categories, a case-by-case assessment is performed and the amount of the provision is calculated in accordance with the status of each proceeding and the risk assessment carried out by the legal advisers. The provisions for other legal proceedings include provisions for court, arbitration or administrative proceedings (other than those included in other categories or types of provisions disclosed separately) brought against Grupo Santander companies. The provisions for customer remediation include mainly the estimated cost of payments to remedy errors relating to the sale of certain products in the UK, as well as the estimated amount related to the floor clauses of Banco Popular Español, S.A.U. To calculate the provision for customer remediation, the best estimate of the provision made by management is used, which is based on the estimated number of claims to be received and, of these, the number that will be accepted, as well as the estimated average payment per case. The provisions for restructuring include only the costs arising from restructuring processes carried out by the various Group companies. Lastly, the Other heading contains very atomized and individually insignificant provisions, such as the provisions to cover the operational risk of the different offices of the Group. Qualitative information on the main litigation is provided in Note 10.c. The Group's general policy is to record provisions for tax and legal proceedings in which the Group assesses the chances of loss to be probable and the Group does not record provisions when the chances of loss are possible or remote. Grupo Santander determines the amounts to be provided for as its best estimate of the expenditure required to settle the corresponding claim based, among other factors, on a case-by-case analysis of the facts and the legal opinion of internal and external counsel or by considering the historical average amount of the loss incurred in claims of the same nature. The definitive date of the outflow of resources embodying economic benefits for the Group depends on each obligation. In certain cases, the obligations do not have a fixed settlement term and, in others, they depend on legal proceedings in progress. The changes in provisions arising from civil contingencies and legal nature are disclosed in this note. The main changes in provisions in the first six months of 2023 are as follows: With respect to provisions for labour and other legal proceedings, in Brazil, provisions of EUR 257 million and EUR 115 million were recorded, making payments of EUR 116 million and EUR 87 million, respectively. With respect to provisions for customer compensation, and based on the best information available, the gross amount of mortgage leans denominated and indexed to foreign currencies in Poland has been adjusted, in accordance with IFRS 9, by the new estimated cash flows, as described in Note 10 c. c) Litigation and other matters i. Tax-related litigation At 30 June 2023 the main tax-related proceedings concerning the Group were as follows: • Legal actions filed by Banco Santander (Brasil) S.A. and other Group entities to avoid the application of Law 9.718/98, which modifies the basis to calculate Programa de Integraçao Social (PIS) and Contribuição para Financiamento da Seguridade Social (COFINS), extending it to all the entities income, and not only to the income from the provision of services. In relation of Banco Santander (Brasil) S.A. process, in 2015 the Federal Supreme Court (FSC) admitted the extraordinary appeal filed by the Federal Union regarding PIS, and dismissed the extraordinary appeal lodged by the Brazilian Public Prosecutor's Office regarding COFINS contribution, confirming the decision of Federal Regional Court favourable to Banco Santander (Brasil) S.A. of August 2007. The Federal Supreme Court also admitted the appeals related to the other Group entities both for PIS and COFINS. On June 13, 2023, the Federal Supreme Court ruled unfavorably two cases through General Repercussion (Theme 372), including Banco Santander (Brasil), S.A. case. The Bank will file a new appeal, considering the possible loss as a contingent liability. The other Group entities have recognized a provision for the estimated loss regarding both PIS and Cofins. • Banco Santander (Brasil) S.A. and other Group companies in Brazil have appealed against the assessments issued by the Brazilian tax authorities questioning the deduction of loan losses in their income tax returns (Imposto sobre a Renda das Pessoas Jurídicas - IRPJ - and Contribuçao Social sobre o Lucro Liquido -CSLL-) in relation to different administrative processes of various years on the ground that the requirements under the applicable legislation were not met. The appeals are pending decision in the administrative Court, the Conselho Adminisitrativo de Recursos Fiscais (CARF). No provision was recognised in connection with the amount considered to be a contingent liability. • Banco Santander (Brasil) S.A. and other Group companies in Brazil are involved in administrative and legal proceedings against several municipalities that demand payment of the Service Tax on certain items of income from transactions not classified as provisions of services. There are several cases in different judicial instances. A provision was recognised in connection with the amount of the estimated loss. • Banco Santander (Brasil) S.A. and other Group companies in Brazil are involved in administrative and legal proceedings against the tax authorities in connection with the taxation for social security purposes of certain items which are not considered to be employee remuneration. There are several cases in different judicial instances. A provision was recognised in connection with the amount of the estimated loss. • In May 2003 the Brazilian tax authorities issued separate infringement notices against Santander Distribuidora de Títulos e Valores Mobiliarios, Ltda. (DTVM, actually Santander Brasil Tecnología S.A.) and Banco Santander (Brasil) S.A. in relation to the Provisional Tax on Financial Movements (Contribuição Provisória sobre Movimentação Financeira) of the years 2000 to 2002. The administrative discussion ended unfavourably for both companies, and on July 3, 2015, filed a lawsuit requesting the cancellation of both tax assessments. The lawsuit was judged unfavourably in first instance. Therefore, both plaintiffs appealed to the court of second instance. On December 2020, the appeal was decided unfavourably. Against the judgment, the bank filed a motion for clarification which has not been accepted. Currently it is appealed to higher courts. There is a provision recognized for the estimated loss. • In December 2010 the Brazilian tax authorities issued an infringement notice against Santander Seguros S.A. (Brazil), currently Zurich Santander Brasil Seguros e Previdência S.A., as the successor by merger to ABN AMRO Brasil dois Participações S.A., in relation to income tax (IRPJ and CSLL) for 2005, questioning the tax treatment applied to a sale of shares of Real Seguros, S.A. The administrative discussion ended unfavourably, and the CARF decision has been appealed at the Federal Justice. As the former parent of Santander Seguros S.A. (Brasil), Banco Santander (Brasil) S.A. is liable in the event of any adverse outcome of this proceeding. No provision was recognised in connection with this proceeding as it is considered to be a contingent liability. • In November 2014 the Brazilian tax authorities issued an infringement notice against Banco Santander (Brasil) S.A. in relation to corporate income tax (IRPJ and CSLL) for 2009 questioning the tax-deductibility of the amortisation of the goodwill of Banco ABN AMRO Real S.A. performed prior to the absorption of this bank by Banco Santander (Brasil) S.A., but accepting the amortisation performed after the merger. Actually it is appealed before the Higher Chamber of CARF. No provision was recognised in connection with this proceeding as it was considered to be a contingent liability. • Banco Santander (Brasil) S.A. has also appealed against infringement notices issued by the tax authorities questioning the tax deductibility of the amortisation of the goodwill arising on the acquisition of Banco Comercial e de Investimento Sudameris S.A from years 2007 to 2012. No provision was recognised in connection with this matter as it was considered to be a contingent liability. • Banco Santander (Brasil) S.A. and other companies of the Group in Brazil are undergoing administrative and judicial procedures against Brazilian tax authorities for not admitting tax compensation with credits derived from other tax concepts, not having registered a provision for the amount considered to be a contingent liability. • Banco Santander (Brasil) S.A. is involved in appeals in relation to infringement notices initiated by tax authorities regarding the offsetting of tax losses in the CSLL of year 2009. The appeal is pending decision in CARF. No provision was recognised in connection with this matter as it is considered to be a contingent liability. • Banco Santander (Brasil) S.A. filed a suspensive judicial measure aiming to avoid the withholding income tax (Imposto sobre a Renda Retido na Fonte - IRRF), on payments derived from technology services provided by Group foreign entities. A favorable decision was handed down and an appeal was filed by the tax authority at the Federal Regional Court, where it awaits judgment. No provision was recognized as it is considered to be a contingent liability • Brazilian tax authorities have issued infringement notices against Getnet Adquirência e Serviços para Meios de Pagamento S.A and Banco Santander (Brasil) S.A. as jointly liable in relation to corporate income tax (IRPJ and CSLL) for 2014 to 2018 questioning the tax-deductibility of the amortization of the goodwill from the acquisition of Getnet Tecnologia Proces S.A., considering that the company would not have complied with the legal requirements for such amortization. A defense against the tax assessment notices were submitted, and the appeal is pending decision in CARF. No provision was recognized as it is considered to be a contingent liability. The total amount for the aforementioned Brazil lawsuits that are fully provisioned is EUR 807 million, and for lawsuits that qualify as contingent liabilities is EUR 5,440 million. • Banco Santander appealed before European Courts the Decisions 2011/5/CE of 28 October 2009 (First Decision), and 2011/282/UE of 12 January 2011 (Second Decision) of the European Commission, ruling that the deduction of the financial goodwill regulated pursuant to Article 12.5 of the Corporate Income Tax Law constituted illegal State aid. On October 2021 the Court of Justice definitively confirmed these Decisions. The dismissal of the appeal, that only affects these two decisions, had no impact on results. At the date of approval of these interim financial statements certain other less significant tax-related proceedings are also in progress. ii. Non-tax-related proceeding s At 30 June 2023 the main non-tax-related proceedings concerning the Group were as follows: • Payment Protection Insurance (PPI): The dispute relates to the liability for PPI mis-selling complaints relating to pre-2005 PPI policies that two entities of AXA Group (hereinafter, AXA France) acquired from Genworth Financial International Holdings, Inc. (Genworth) in September 2015. The dispute involves Santander Cards UK Limited (formerly known as GE Capital Bank Limited which was acquired by Banco Santander, S.A. from GE Capital group in 2008) which was the distributor of the policies in dispute and Santander Insurance Services UK Limited (the Santander Entitites). In July 2017, the Santander Entities notified AXA France that they did not accept liability for losses on PPI policies relating to the relevant period. Santander UK plc entered into a Complaints Handling Agreement (CHA) with AXA France pursuant to which it agreed to handle complaints on their behalf, and AXA France agreed to pay redress assessed to be due to relevant policyholders on a without prejudice basis. A standstill agreement was entered into between the Santander Entities and AXA France as a condition of the CHA. In July 2020, Genworth announced that it had agreed to pay AXA SA circa GBP 624 million in respect of PPI mis-selling losses in settlement of the related dispute concerning obligations under the sale and purchase agreement pursuant to which Genworth sold AXA France to AXA SA. The CHA between Santander UK plc and AXA France terminated on 26 December 2020. On 30 December 2020, AXA France provided written notice to the Santander Entities to terminate the standstill agreement. During 2021, AXA France commenced litigation against the Santander Entities seeking recovery of GBP 636 million (EUR 741.3 million) (plus interest) and any further losses relating to pre-2005 PPI. Judgment in respect of the Santander Entities application for AXA France’s claim to be struck out/summarily dismissed, was handed down by the Commercial Court on 12 July 2022. In summary, the High Court of Justice Business and Property Courts of England and Wales - Commercial Court upheld a significant part of the Santander Entities’ strike-out application and required AXA France to re-plead a significant portion of its other pleadings. AXA France updated the amount of losses claimed from GBP 636 million (EUR 741.3 million) to GBP 670 million (EUR 780.9 million) (plus interest) in their Re-Amended Particulars of Claim dated 2 December 2022 (RAPOC). On 31 January 2023, the Santander Entities filed their Defence to the RAPOC and an Additional Claim. In response, AXA France has conceded its claim for charges paid to Santander Entities pursuant to the CHA, reducing the overall value of its claim from GBP 670 million (EUR 780.9 million) to GBP 552 million (EUR 643.4 million) (plus interest) and has agreed to the requested rectification. AXA France filed its Re-Re-Amended Particulars of Claim on 29 June 2023. Overall, there remains significant uncertainty as to how the dispute will be resolved. There are ongoing factual issues to be resolved which may have legal consequences including in relation to liability. These issues create uncertainties which mean that it is difficult to reliably predict the outcome of the matter. These provisions represent the best estimate as of 30 June 2023. In addition, and in relation to PPI more generally the PPI provision includes an amount relating to legal claims challenging the Financial Conduct Authority’s (FCA) industry guidance on the treatment of the Plevin judgment and of recurring non-disclosure assessments. This provision is based on current stock levels, future projected claims, and average redress. There remains a risk that volumes received in future may be higher than forecast. The actual cost of customer compensation could differ from the amount provided. It is not currently practicable to provide an estimate of the risk and amount of any further financial impact. • Motor Finance Broker Commissions: following the FCA Motor Market review in 2021, Santander Consumer UK (plc) has received a number of claims and complaints in respect of its historical commission arrangements. Santander Consumer (UK) plc is monitoring industry developments for potential liabilities for claims related to the use of discretionary commission models prior to the Motor Market review. While it is possible that certain costs will be incurred in relation to existing or future such claims or complaints, it is not considered that a legal or constructive obligation has been established that would require a provision to be recorded at this stage as it is currently not possible to predict their ultimate outcome including the materiality of any financial impacts (if any). • Delforca: dispute arising from equity swaps entered into by Gaesco (now Delforca 2008, S.A.) on shares of Inmobiliaria Colonial, S.A. Banco Santander, S.A. is claiming to Delforca before the Court of Barcelona in charge of the bankruptcy proceedings, a total of EUR 66 million from the liquidation resulting from the early termination of financial transactions due to Delforca's non-payment of the equity swaps. In the same bankruptcy proceedings, Delforca and Mobiliaria Monesa have in turn claimed the Bank to repay EUR 57 million, which the Bank received for the enforcement of the agreed guarantee, as a result of the aforementioned liquidation. On 16 September 2021 the Commercial Court Number 10 of Barcelona has ordered Delforca to pay the Bank EUR 66 million plus EUR 11 million in interest and has dismissed the claims filed by Delforca. This decision has been appealed by Delforca, Mobiliaria Monesa and the bankruptcy administrator. On 1 June 2023, the appeal hearing took place. It is currently pending resolution by the Provincial Court Separately, Mobiliaria Monesa, S.A. (parent of Delforca) filed in 2009 a civil procedure with the Courts of Santander against the Bank claiming damages that have not been specified to date. The procedure is suspended. • Former employees of Banco do Estado de São Paulo S.A., Santander Banespa, Cia. de Arrendamiento Mercantil: claim initiated in 1998 by the association of retired Banespa employees (AFABESP) requesting the payment of a half-yearly bonus contemplated in the by-laws of Banespa in the event that Banespa obtained a profit, and that the distribution of this profit were approved by the Board of Directors. The bonus was not paid in 1994 and 1995 since Banespa had not made a profit during those years. Partial payments were made from 1996 to 2000, as approved by the Board of Directors. The relevant clause was eliminated in 2001. The Tribunal Regional do Trabalho (Regional Labour Court) and the High Employment Court (TST) ordered Santander Brazil, as successor to Banespa, to pay this half-yearly bonus for the period from 1996 to the present. On 20 March 2019, the Supreme Federal Court (STF) rejected the extraordinary appeal filed by Santander Brazil. Santander Bank Brazil filed a rescissory action before the TST to nullify the decisions of the main proceedings and suspend the execution of the judgment, which was deemed inadmissible, therefore its execution was suspended. The rescissory action was dismissed and a motion for clarification was filed, due to the absence of an explicit argument to deny the rescissory action filed by Santander Brazil. After the decision of the motion for clarification, Santander Brazil filed an extraordinary appeal in the rescissory action in February 2021, which was denied in an interlocutory decision in June 2021 by the TST. As Santander Brazil understands there is a conflict between the TST decision and the doctrine set by the STF, Santander Brazil appealed this decision. This appeal is pending. In August 2021, a first instance court ruled that the enforcement of the TST decision shall be carried out individually, at the jurisdiction pertaining to each person. AFABESP appealed this decision. In December 2021, the Regional Labor Court denied the appeal filed by AFABESP. This decision has not been appealed by AFABESP, and therefore it has become firm. Santander Brazil external advisers have classified the risk as probable. The recorded provisions are considered sufficient to cover the risks associated with the legal claims that are being substantiated as of 30 June 2023. • 'Planos Económicos': like the rest of the banking system in Brazil, Santander Brazil has been the target of customer complaints and collective civil suits stemming mainly from legislative changes and its application to bank deposits ('economic plans'). At the end of 2017, an agreement between regulatory entities and the Brazilian Federation of Banks (Febraban) with the purpose of closing the lawsuits was reached and was approved by the Supremo Tribunal Federal. Discussions focused on specifying the amount to be paid to each affected client according to the balance in their notebook at the time of the Plan. Finally, the total value of the payments will depend on the number of adhesions there may be and the number of savers who have demonstrated the existence of the account and its balance on the date the indexes were changed. In November 2018, the STF ordered the suspension of all economic plan proceedings for two years from May 2018. On 29 May 2020, the STF approved the extension of the agreement for 5 additional years starting from 3 June 2020. Condition for this extension was to include in the agreement actions related to the 'Collor I Plan'. On 20 June 2023, the provision recorded for the economic plan proceedings amounts to EUR 238.2 million. • Floor clauses: as a consequence of the acquisition of Banco Popular Español, S.A.U. (Banco Popular), the Group has been exposed to a material number of transactions with floor clauses. The so-called "floor clauses" are those under which the borrower accepts a minimum interest rate to be paid to the lender, regardless of the applicable reference interest rate. Banco Popular included "floor clauses" in certain asset-side transactions with customers. In relation to this type of clauses, and after several rulings made by the Court of Justice of the European Union and the Spanish Supreme Court, and the extrajudicial process established by the Spanish Royal Decree-Law 1/2017, of 20 January, Banco Popular made provisions that were updated in order to cover the effect of the potential return of the excess interest charged for the application of the floor clauses between the contract date of the corresponding mortgage loans and May 2013. On 30 June 2023, after having processed most of the customer requests, the potential residual loss associated with ongoing court proceedings is estimated at EUR 55.5 million, amount which is fully covered by provisions. • Banco Popular´s acquisition: After the declaration of the resolution of Banco Popular, some investors filed claims against the EU’s Single Resolution Board decision, and the FROB's resolution executed in accordance with the aforementioned decision. Likewise, numerous appeals were filed against Banco Santander, S.A. alleging that the information provided by Banco Popular was erroneous and requesting from Banco Santander, S.A. the restitution of the price paid for the acquisition of the investment instruments or, where appropriate, the corresponding compensation. In relation to these appeals, on the one hand, the General Court of the European Union (GCUE) selected 5 appeals from among all those filed before the European courts by various investors against the European institutions and processed them as pilot cases. On 1 June 2022, the GCUE has rendered five judgements in which it has completely dismissed the appeals, (i) supporting the legality of the resolution framework applied to Banco Popular, (ii) confirming the legality of the action of the European institutions in the resolution of Banco Popular and (iii) rejecting, in particular, all the allegations that there were irregularities in the sale process of Banco Popular to Banco Santander, S.A. four of these judgments have been appealed before the Court of Justice of the European Union (CJEU). In all the appeals the rejoinder stage has concluded. On the other hand, in relation to the lawsuits initiated by investors directly against Banco Santander, S.A. derived from the acquisition of Banco Popular, on 2 September 2020, the Provincial Court of La Coruña submitted a preliminary ruling to the CJEU in which it asked for the correct interpretation of the Article 60, section 2 of Directive 2014/59/EU of the European Parliament and of the Council of 15 May, establishing a framework for the restructuring and resolution of credit institutions and investment services companies. Said article establishes that, in the cases of redemption of capital instruments in a bank resolution, no liability will subsist in relation to the amount of the instrument that has been redeemed. On 5 May 2022, the CJEU has rendered its judgement confirming that Directive 2014/59/EU of the European Parliament and of the Council does not allow that, after the total redemption of the shares of the share capital of a credit institution or an investment services company subject to a resolution procedure, the shareholders who have acquired shares within the framework of a public subscription offer issued by said company before the start of such a resolution procedure, exercise against that entity or against its successor, an action for liability for the information contained in the prospectus, under Directive 2003/71/EC of the European Parliament and of the Council, or an action for annulment of the subscription contract for those shares, which, taking into account its retroactive effects, gives rise to the restitution of the equivalent value of said shares, plus the interest accrued from the date of execution of said contract. In respect to this judgement, in December 2022 the Spanish Supreme Court submitted three preliminary rulings before the CJEU in respect of its applicability to subordinated bonds amortized with the resolution and to subordinated obligations and/or preferred shares converted into shares before resolution. Separately, the Central Court of Instruction 4 is currently conducting preliminary proceedings 42/2017, in which, amongst other things, is being investigated the following: (i) the accuracy of the prospectus for the capital increase with subscription rights carried out by Banco Popular in 2016; and (ii) the alleged manipulation of the share price of Banco Popular until the resolution of the bank, in June 2017. During the course of the proceedings, on 30 April 2019, the Spanish National Court, ruled in favour of Banco Santander, S.A. declaring that Banco Santander, S.A. cannot inherit Banco Popular’s potential criminal liability. This ruling was appealed before the Supreme Court, which rejected it. In these proceedings, Banco Santander, S.A. could potentially be subsidiarily liable for the civil consequences. In view of the CJEU ruling of 5 May 2022, the Bank has requested confirmation of the exclusion of its subsidiary civil liability status in this criminal proceeding. On 26 July 2022, the Court has rejected this request stating that it is a matter to be determined at a later procedural time. This decision has been confirmed on appeal by the Chamber of the National Court by sentence of 5 October 2022. The instruction expired on 29 April 2023. Therefore, the Court now must issue the resolution putting an end to the investigation. The estimated cost of any compensation to shareholders and bondholders of Banco Popular recognized in the 2017 accounts amounted to EUR 680 million, of which EUR 535 million were applied to the commercial loyalty program. The CJEU judgement of 5 May represents a very significant reduction in the risk associated with these claims. • German shares investigation: the Cologne Public Prosecution Office is conducting an investigation against the Bank, and other group entities based in UK - Santander UK plc, Santander Financial Services Plc and Cater Allen International Limited, in relation to a particular type of tax dividend linked transactions known as cum-ex transactions. The Group is cooperating with the German authorities. According to the state of the investigations, the result, and the effects for the Group, which may potentially include the imposition of material financial penalties, cannot be anticipated. For this reason, the Bank has not recognized any provisions in relation to the potential imposition of financial penalties. • Banco Santander, S.A. was sued in a legal proceeding in which the plaintiff alleges that the Bank breached his contract as CEO of the institution. In the lawsuit, the claimant mainly requested a declaratory ruling that upholds the existence, validity and effectiveness of such contract and its enforcement together with the payment of certain amounts. If the main request is not granted, the claimant sought a compensation for a total amount of approximately EUR 112 million or, an alternative relief for other minor amounts. Banco Santander, S.A. answered to the legal action stating that the conditions to which the appointment of that position was subject to were not met; that the executive services contract required by law was not concluded; and that in any case, the parties could terminate the contract without any justified cause. On 17 May 2021, the plaintiff reduced his claims for compensation to EUR 61.9 million. On 9 December 2021, the Court upheld the claim and ordered the Bank to compensate the claimant in the amount of EUR 67.8 million. By court order of 13 January 2022, the Court corrected and supplemented its judgment, reducing the total amount to be paid by the Bank to EUR 51.4 million and clarifying the part of this amount (buy out) was to be paid under the terms of the offer letter, i.e., entirely in Banco Santander shares, within the deferral period for this type of remuneration at the plaintiff's former employer and subject to the performance metrics or parameters of the plan in force at the Bank, which was that of 2018. As explained in note 5 of the report of the consolidated annual accounts for the year 2022, the degree of performance of these objectives was 33.3%. The Bank filed an appeal against the judgment before the Madrid Court of Appeal, which was opposed by the plaintiff. At the same time, the plaintiff filed an application for provisional enforcement of the judgment in the first instance court. A court order was issued ordering enforcement of the judgment, and the Bank deposited in the court bank account the full amount provisionally awarded to the claimant, including interest, for an approximate sum of EUR 35.5 million, within the voluntary compliance period. On 6 February 2023, Banco Santander was notified of the judgment of 20 January 2023 by which the Madrid Court of Appeal partially upheld the appeal filed by the Bank. The judgment has reduced the amount to be paid by EUR 8 million, which, to the extent that this amount was already paid in the provisional partial enforcement of the judgement of first instance court, must be returned to the Bank together with other amounts for interest, which the appeal judgement also rejects. The plaintiff deposited circa EUR 9.6 million. This amount was received by the Bank on 11 July 2023. On 11 April 2023, the Bank filed an extraordinary appeal for procedural infringement and an appeal in cassation against the Madrid Court of Appeal’s judgment before Spanish Supreme Court. Existing provisions cover the estimated risk of loss. • Universalpay Entidad de Pago, S.L. (Upay) has fil |
Equity
Equity | 6 Months Ended |
Jun. 30, 2023 | |
Equity [abstract] | |
Equity | Equity In the first six month period ended 30 June 2023 and 2022 there were no quantitative or qualitative changes in Grupo Santander's equity other than those indicated in the condensed consolidated statements of changes in total equity. a) Capital Banco Santander's share capital at 30 June 2023 and 31 December 2022 consisted of EUR 8,092 million and 8,397, respectively, represented by 16,184,146,059 and 16,794,401,584 shares of EUR 0.50 of nominal value each, respe ctively, and all of them of a unique class and series. On 21 March 2023, there was a capital reduction amounting to EUR 170 million through the redemption of 340,406,572 shares, corresponding to the share buyback program for the year 2022 ended in January 2023. Likewise, on 30 June 2023, Banco Santander has decreased its capital by an amount of EUR 135 million through the redemption of 269,848,953 shares, corresponding to the share buyback program carried out between March and May 2023. Both operations have not entailed the return of contributions to the shareholders as Banco Santander was the owner of the redeemed shares. b) Share premium Includes the amount paid by the bank's shareholders in capital issues in excess of par value. As a result of the capital reductions described in Note 11.a, during the first half of 2023 the share premium has been reduced by an amount of 1,595 million euros, corresponding to the difference between the purchase value of the shares amortized (1,900 million euros) and the nominal value of said shares (305 million euros). Likewise, in accordance with the applicable legislation, a reserve for amortized capital has been allocated with a charge to the share premium for an equal amount to the nominal value of said amortized shares (305 million euros). c) Breakdown of other comprehensive income - Items not reclassified to profit or loss and Items that may be reclassified to profit or loss EUR million 30-06-2023 31-12-2022 Other comprehensive income accumulated (33,789) (35,628) Items not reclassified to profit or loss (4,956) (4,635) Actuarial gains or losses on defined benefit pension plans (4,036) (3,945) Non-current assets held for sale — — Share in other income and expenses recognised in investments, joint ventures and associates 3 10 Other valuation adjustments — — Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income (859) (672) Inefficacy of fair value hedges of equity instruments measured at fair value with changes — — Changes in the fair value of equity instruments measured at fair value with changes 252 293 Changes in the fair value of equity instruments measured at fair value with changes (252) (293) Changes in the fair value of financial liabilities measured at fair value through profit or loss (64) (28) Items that may be reclassified to profit or loss (28,833) (30,993) Hedge of net investments in foreign operations (effective portion) (8,322) (6,750) Exchange differences (17,580) (20,420) Hedging derivatives (effective portion) (2,118) (2,437) Changes in the fair value of debt instruments measured at fair value with changes in other comprehensive income (563) (1,002) Hedging instruments (items not designated) — — Non-current assets held for sale — — Share in other income and expenses recognised in investments, joint ventures and associates (250) (384) d) Other comprehensive income - Items not reclassified to profit or loss - Actuarial gains or losses on defined benefit pension plans The balance of the heading Other accumulated comprehensive income - Items not reclassified to profit or loss - Actuarial gains or losses on defined benefit pension plans, includes the actuarial gains or losses and the return on the assets assigned to the plan, less administration costs and plan's own taxes, and any change in the effects of the asset limit, excluding amounts included in net interest on net defined benefit liability (asset). Its variation is shown in the consolidated condensed statement of recognized income and expense. During the first six months of 2023, the amount of actuarial losses (net of actuarial gains) has increased by EUR 402 million. The main impacts are: • Increase of EUR 182 million in the cumulative actuarial losses relating to the Group´s businesses in the UK, mainly due to the performance of the asset portfolio, partially offset by the variation in the discount rate used in the obligations (increase from 4.88% to 5.28%). • Increase of 134 million euros in accumulated actuarial losses corresponding to the Group's businesses in Brazil, due to the variation in the discount rate (decrease from 9.44% to 8.71% in the main pension plans, and decrease from 9.46% to 8.73% in the main medical plan), to short-term inflation and the performance of the asset portfolio. • Decrease of EUR 21 million in the cumulative actuarial losses relating to the Group's businesses in Portugal, mainly due to the good performance of the asset portfolio. • Decrease of EUR 13 million in the cumulative actuarial losses relating to the Group´s businesses in Spain, mainly due to the discount rate variation (increase from 3.80% to 4.00%). The other modification in accumulated actuarial profit or losses is an increase of EUR 120 million as a result of the evolution of exchange rates and other movements. e) Other comprehensive income - Items not reclassified to profit or loss – Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income Includes the net amount of unrealised fair value changes in equity instruments at fair value with changes in other comprehensive income. Below is a breakdown of the composition of the balance as of 30 June 2023 and 31 December 2022 under 'Other comprehensive income - Items not reclassified to profit or loss - Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income' depending on the geographical origin of the issuer: EUR million 30-06-2023 31-12-2022 Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Equity instruments Domestic Spain 31 (1,172) (1,141) 251 30 (926) (896) 500 International Rest of Europe 110 (67) 43 271 84 (60) 24 225 United States 18 — 18 24 15 — 15 29 Latin America and rest 309 (88) 221 1,183 244 (59) 185 1,187 468 (1,327) (859) 1,729 373 (1,045) (672) 1,941 Of which: Listed 311 (138) 173 1,191 246 (113) 133 1,200 Unlisted 157 (1,189) (1,032) 538 127 (932) (805) 741 f) Other comprehensive income - Items that may be reclassified to profit or loss – Hedges of net investments in foreign operations (effective portion) and exchange differences Other comprehensive income - Items that may be reclassified to profit or loss - Hedges of net investments in foreign operations (effective portion) includes the net amount of the changes in value of hedging instruments in hedges of net investments in foreign operations, in respect of the portion of these changes considered to be effective hedges. Other comprehensive income - Items that may be reclassified to profit or loss - Exchange differences includes the net amount of exchange differences arising on non-monetary items whose fair value is adjusted against equity and the differences arising on the translation to euros of the balances of the consolidated entities whose functional currency is not the euro. The net variation of both headings recognised during the first six months of 2023 in the interim condensed consolidated statement of recognised income and expenses, reflects the impact of the evolution of the currencies during the year, reflecting mainly the strong appreciation of the Brazilian real, Pound sterling and Mexican peso, and in the negative side the impact of the depreciation of the US dollar (see Note 1.e). Of this variation, a capital gain of EUR 392 million corresponds to the valuation at the closing exchange rate of goodwill for the first six months of 2023 (see Note 8). g) Other comprehensive income – Items that may be reclassified to profit or loss – Changes in the fair value of debt instrument s measured at fair value through other comprehensive income Includes the net amount of unrealised fair value changes in debt instruments at fair value through other comprehensive income. Below is a breakdown of the composition of the balance as of 30 June 2023 and 31 December 2022 under Other comprehensive income - Items that may be reclassified to profit or loss - Changes in the fair value of debt instruments measured at fair value through other comprehensive income depending on the type of instrument and the geographical origin of the issuer: EUR million 30-06-2023 31-12-2022 Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Debt instruments Issued by public Public-sector Spain 110 (1) 109 9,544 26 (1) 25 9,312 Rest of Europe 355 (140) 215 18,607 268 (199) 69 17,593 Latin America and rest of the world 177 (843) (666) 40,351 196 (937) (741) 40,873 Issued by Private-sector Spain 82 (3) 79 6,277 — (24) (24) 5,727 Rest of Europe 12 (56) (44) 5,157 11 (68) (57) 5,203 Latin America and rest of the world 27 (283) (256) 5,091 16 (290) (274) 4,590 763 (1,326) (563) 85,027 517 (1,519) (1,002) 83,298 |
Segment information (Primary se
Segment information (Primary segment) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
Segment information (Primary segment) | Segment information (Primary segment) Grupo Santander has aligned the information in this note with the underlying information used internally for management reporting and with that presented in Grupo Santander's other public documents. Grupo Santander's executive committee has been selected to be its chief operating decision maker. Grupo Santander's operating segments reflect its organizational and managerial structures. The executive committee reviews internal reporting based on these segments to assess performance and allocate resources. The segments are split by geographic area in which profits are earned and type of business. The information is prepared by aggregating the figures for Santander’s various geographic areas and business units, relating it to both the accounting data of the units integrated in each segment and that provided by management information systems. The same general principles as those used in Grupo Santander are applied. Following is the breakdown of revenue that is deemed to be recognised under Dividend income, Commission income, Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gain or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net, Other operating income and Income from assets under insurance and reinsurance contracts in the accompanying consolidated income statements for the first six months ended 30 June 2023 and 2022. In addition to these operating units, which report by geographic area and businesses, Grupo Santander continues to maintain the area of Corporate Centre, that includes the centralized activities relating to equity stakes in financial companies, financial management of the structural exchange rate position, assumed within the sphere of Grupo Santander's assets and liabilities committee, as well as management of liquidity and of shareholders' equity via issuances. This financial information ('underlying basis') is computed by adjusting reported results for the effects of certain gains and losses (e.g.: capital gains, write-downs, etc.). These gains and losses are items that management and investors ordinarily identify and consider separately to understand better the underlying trends in the business. Following is the reconciliation between the adjusted profit and the statutory profit corresponding to the first six months ended 30 June 2023 and 2022: EUR million Revenue from ordinary activities Profit before taxes Profit Segment 30-06-2023 30-06-2022 30-06-2023 30-06-2022 30-06-2023 30-06-2022 Europe 19,391 13,649 3,888 2,693 2,536 1,839 North America 13,966 8,154 1,739 2,061 1,346 1,578 South America 20,461 17,613 2,376 3,165 1,458 1,946 Digital Consumer Bank 4,761 3,395 928 1,010 521 572 Corporate Centre 1,121 173 (602) (1,014) (620) (1,041) Underlying Profit 59,700 42,984 8,329 7,915 5,241 4,894 Adjustments — — (239) — — — Statutory Profit 59,700 42,984 8,090 7,915 5,241 4,894 |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Related parties | Related parties The parties related to Grupo Santander are deemed to include, in addition to its subsidiaries, associates and joint ventures, Banco Santander’s key management personnel (the members of its board of directors and the executive vice presidents, together with their close family members) and the entities over which the key management personnel may exercise significant influence or control. Following is a detail of the transactions performed by Grupo Santander with its related parties in the first six months of 2023 and 2022, distinguishing between significant shareholders, members of Banco Santander’s board of directors, Banco Santander’s executive vice presidents, Grupo Santander entities and other related parties. Related party transactions were made on terms equivalent to those that prevail in arm’s-length transactions or, when this was not the case, the related compensation in kind was recognised: EUR million 30-06-2023 Expenses and income Significant shareholders Directors and executives Group companies or entities Other related parties Total Expenses Finance costs — — 79 — 79 Leases — — — — — Services received — — — — — Purchases of stocks — — — — — Other expenses — — 57 — 57 — — 136 — 136 Income Finance income — — 188 3 191 Dividends received — — — — — Services rendered — — — — — Sale of stocks — — — — — Other income — — 709 1 710 — — 897 4 901 EUR million 30-06-2023 Other transactions Significant shareholders Directors and executives Group companies or entities Other related parties Total Financing agreements: loans and capital contributions (lender) — 2 376 (199) 179 Financing agreements: loans and capital contributions (borrower) — — (29) 7 (22) Guarantees provided — — — 680 680 Guarantees received — — — — — Commitments acquired — — 51 3 54 Dividends and other distributed profit — 1 — 10 11 Other transactions — — 36 — 36 EUR million 30-06-2023 Balance closing period Significant shareholders Directors and executives Group companies or entities Other related parties Total Debt balances: Customers and commercial debtors — — — — — Loans and credits granted — 13 9,687 256 9,956 Other collection rights — — 969 — 969 — 13 10,656 256 10,925 Credit balances: Suppliers and creditors granted — — — — — Loans and credits received — 21 3,210 115 3,346 Other payment obligations — — 358 — 358 — 21 3,568 115 3,704 EUR million 30-06-2022 Expenses and income Significant shareholders Directors and executives Group companies or entities Other related parties Total Expenses Finance costs — — 16 — 16 Leases — — — — — Services received — — — — — Purchases of stocks — — — — — Other expenses — — 197 — 197 — — 213 — 213 Income Finance income — — 71 — 71 Dividends received — — — — — Services rendered — — — — — Sale of stocks — — — — — Other income — — 683 1 684 — — 754 1 755 EUR million 30-06-2022 Other transactions Significant shareholders Directors and executives Group companies or entities Other related parties Total Financing agreements: loans and capital contributions (lender) — — 715 26 741 Financing agreements: loans and capital contributions (borrower) — 9 362 40 411 Guarantees provided — — — — — Guarantees received — — — — — Commitments acquired — — (12) (2) (14) Dividends and other distributed profit — 1 — 9 10 Other transactions — — (106) — (106) EUR million 31-12-2022 Balance closing period Significant shareholders Directors and executives Group companies or entities Other related parties Total Debt balances: Customers and commercial debtors — — — — — Loans and credits granted — 13 9,311 455 9,779 Other collection rights — — 946 — 946 — 13 10,257 455 10,725 Credit balances: Suppliers and creditors granted — — — — — Loans and credits received — 22 3,239 109 3,370 Other payment obligations — — 372 — 372 — 22 3,611 109 3,742 |
Off-balance-sheet exposures
Off-balance-sheet exposures | 6 Months Ended |
Jun. 30, 2023 | |
Off-Balance-Sheet Exposures | |
Off-balance-sheet exposures | Off - balance-sheet exposures The off-balance-sheet exposures related to balances representing loans commitments, financial guarantees and other commitments granted (recoverables and non recoverables). Financial guarantees granted include financial guarantees contracts such as financial bank guarantees, credit derivatives, and risks arising from derivatives granted to third parties; non-financial guarantees include other guarantees and irrevocable documentary credits. Loan and other commitments granted include all off-balance-sheet exposures, which are not classified as guarantees provided, including loans commitment granted. EUR million 30-06-2023 31-12-2022 Loan commitments granted 283,903 274,075 Of which impaired 509 653 Financial guarantees granted 14,401 12,856 Of which impaired 538 521 Bank sureties 14,355 12,813 Credit derivatives sold 46 43 Other commitments granted 113,266 92,672 Of which impaired 607 608 Other granted guarantees 53,651 50,508 Other 59,615 42,164 The breakdown of the off-balance sheet exposure and impairment on 30 June 2023 and 31 December 2022 by impairment stages is EUR 402,019 million and EUR 370,729 million of exposure and EUR 332 million and EUR 331 million of impairment in stage 1, EUR 7,897 million and EUR 7,092 million of exposure and EUR 184 million and EUR 191 million of impairment in stage 2, and EUR 1,654 million and EUR 1,782 million of exposure and EUR 240 million and EUR 212 million of impairment in stage 3, respectively. |
Average headcount and number of
Average headcount and number of branches | 6 Months Ended |
Jun. 30, 2023 | |
Average Headcount And Number Of Branches | |
Average headcount and number of branches | Average headcount and number of branches The average number of employees at Banco Santander and Grupo Santander, by gender, in the first six months ended 30 June 2023 and 2022 is as follows: Average headcount Bank Group 30-06-2023 30-06-2022 30-06-2023 30-06-2022 Men 12,260 11,867 97,353 90,747 Women 11,732 11,355 112,663 109,055 23,992 23,222 210,016 199,802 The number of branches at 30 June 2023 and 31 December 2022 is as follow: Number of branches Group 30-06-2023 31-12-2022 Spain 1,936 1,966 Group 6,887 7,053 8,823 9,019 |
Other disclosures
Other disclosures | 6 Months Ended |
Jun. 30, 2023 | |
Other Disclosures | |
Other disclosures | Other disclosures a) Valuation techniques for financial assets and liabilities The following table shows a summary of the fair values, at 30 June 2023 and 31 December 2022, of the financial assets and liabilities indicated below, classified on the basis of the various measurement methods used by Grupo Santander to determine their fair value: EUR million 30-06-2023 31-12-2022 Published price quotations in active markets (Level 1) Internal models (Levels 2 and 3) Total Published price quotations in active markets (Level 1) Internal models (Levels 2 and 3) Total Financial assets held for trading 61,089 122,745 183,834 45,014 111,104 156,118 Non-trading financial assets mandatorily at fair value through profit or loss 1,738 4,058 5,796 1,800 3,913 5,713 Financial assets at fair value through profit and loss 2,491 7,154 9,645 1,976 7,013 8,989 Financial assets at fair value through other comprehensive income 65,596 21,160 86,756 64,216 21,023 85,239 Hedging derivatives (assets) — 7,532 7,532 — 8,069 8,069 Financial liabilities held for trading 15,195 119,693 134,888 16,237 98,948 115,185 Financial liabilities designated at fair value through profit or loss (*) 147 36,073 36,220 212 40,056 40,268 Hedging derivatives (liabilities) — 10,288 10,288 — 9,228 9,228 Liabilities under insurance contracts (*) — 17,584 17,584 — 16,426 16,426 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). The financial instruments at fair value determined on the basis of published price quotations in active markets (level 1) include government debt securities, private-sector debt securities, derivatives traded in organised markets, securitised assets, shares, short positions and fixed-income securities issued. In cases where price quotations cannot be observed, management makes its best estimate of the price that the market would set, using its own internal models. In most cases, these internal models use data based on observable market parameters as significant inputs (level 2) and, in cases, they use significant inputs not observable in market data (level 3). In order to make these estimates, various techniques are employed, including the extrapolation of observable market data. The best evidence of the fair value of a financial instrument on initial recognition is the transaction price, unless the fair value of the instrument can be obtained from other market transactions performed with the same or similar instruments or can be measured by using a valuation technique in which the variables used include only observable market data, mainly interest rates. During the first six months of 2023 and 2022, Grupo Santander did not make any material transfers of financial instruments between measurement levels other than the transfers included in level 3 table. Grupo Santander has developed a formal process for the systematic valuation and management of financial instruments, which has been implemented worldwide across all the Group’s units. The governance scheme for this process distributes responsibilities between two independent divisions: Treasury (development, marketing and daily management of financial products and market data) and Risk (on a periodic basis, validation of pricing models and market data, computation of risk metrics, new transaction approval policies, management of market risk and implementation of fair value adjustment policies). The approval of new products follows a sequence of steps (request, development, validation, integration in corporate systems and quality assurance) before the product is brought into production. This process ensures that pricing systems have been properly reviewed and are stable before they are used. The most important products and families of derivatives, and the related valuation techniques and inputs, by asset class, are detailed in the consolidated annual accounts as at 31 December 2022. As of 30 June 2023, the CVA (Credit Valuation Adjustment) accounted for was EUR 299 million (a decrease of 14.8% compared to 31 December 2022) and adjustments of DVA (Debt Valuation Adjustment) was EUR 364 million (no changes compared to the end of December 2022). The reduction in CVA is due to the decrease in the credit markets. Set forth below are the financial instruments at fair value whose measurement was based on internal models (levels 2 and 3) at 30 June 2023 and 31 December 2022: EUR million EUR million Fair values calculated using internal models at 30-06-2023 (*) Fair values calculated using internal models at 31-12-2022 (*) Level 2 Level 3 Level 2 Level 3 Valuation techniques Main inputs ASSETS 152,661 9,988 142,832 8,290 Financial assets held for trading 121,705 1,040 110,721 383 Central banks (**) 12,405 — 11,595 — Present value method Yield curves, FX market prices Credit institutions (**) 23,592 — 16,502 — Present value method Yield curves, FX market prices Customers (**) 10,906 145 9,550 — Present value method Yield curves, FX market prices Debt instruments and equity instruments 7,804 414 6,537 43 Present value method Yield curves, FX market prices Derivatives 66,998 481 66,537 340 Swaps 52,475 217 54,367 139 Present value method, Gaussian Copula Yield curves, FX market prices, HPI, Basis, Liquidity Exchange rate options 1,229 3 916 4 Black-Scholes Model Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate options 4,083 29 2,681 39 Black's Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate futures 29 — 113 — Present value method Yield curves, FX market prices Index and securities options 339 85 354 48 Black’s Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Liquidity Other 8,843 147 8,106 110 Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX and EQ market prices, Dividends, Liquidity, Dividends, Correlation, HPI, Credit, Others Hedging derivatives 7,531 1 8,069 — Swaps 6,828 1 6,687 — Present value method Yield curves, FX market prices, Basis Interest rate options 2 — 2 — Black Model Yield curves, FX market prices, Volatility surfaces Other 701 — 1,380 — Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX market prices, Credit, Liquidity, Others Non-trading financial assets mandatorily at fair value through profit or loss 2,146 1,912 2,080 1,833 Equity instruments 970 1,347 643 1,269 Present value method Yield curves, Market price, Dividends and Others Debt instruments 551 337 809 325 Present value method Yield curves Loans and receivables 625 228 628 239 Present value method, swap asset model and CDS Yield curves and Credit curves Financial assets designated at fair value through profit or loss 6,737 417 6,586 427 Credit institutions 626 — 673 — Present value method Yield curves, FX market prices Customers (***) 5,925 5 5,769 5 Present value method Yield curves, FX market prices, HPI Debt instruments 186 412 144 422 Present value method Yield curves, FX market prices Financial assets at fair value through other comprehensive income 14,542 6,618 15,376 5,647 Equity instruments 11 496 9 700 Present value method Yield curves,Market price, Dividends and Others Debt instruments 11,373 263 11,869 229 Present value method Yield curves, FX market prices Loans and receivables 3,158 5,859 3,498 4,718 Present value method Yield curves, FX market prices and Credit curves LIABILITIES 182,818 820 163,733 925 Financial liabilities held for trading 119,291 402 98,533 415 Central banks (**) 16,216 — 5,759 — Present value method FX market prices, Yield curves Credit institutions (**) 14,140 — 9,796 — Present value method FX market prices, Yield curves Customers 19,921 — 12,226 — Present value method FX market prices, Yield curves Derivatives 61,567 402 64,147 415 Swaps 47,317 133 51,191 235 Present value method, Gaussian Copula Yield curves, FX market prices, Basis, Liquidity, HPI Exchange rate options 1,182 — 769 — Black Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate options 4,524 22 3,268 19 Black-Scholes Model Yield curves, Volatility surfaces, FX market prices Index and securities options 599 63 591 42 Black-Scholes Model Yield curves, FX market prices, Liquidity Interest rate and equity futures 32 — 807 — Present value method Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Correlation, Liquidity, HPI Other 7,913 184 7,521 119 Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Correlation, HPI, Credit, Others Short positions 7,447 — 6,605 — Present value method Yield curves ,FX market prices, Equity Hedging derivatives 10,235 53 9,214 14 Swaps 8,598 53 8,142 14 Present value method Yield curves ,FX market prices, Basis Other 1,637 — 1,072 — Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX market prices, Credit, Liquidity and others Financial liabilities designated at fair value through profit or loss (****) 36,073 — 39,905 151 Present value method Yield curves, FX market prices Liabilities under insurance contracts (****) 17,219 365 16,081 345 Present Value Method with actuarial techniques Mortality tables and yield curves (*) The internal models of level 2 implement figures based on the parameters observed in the market, while level 3 internal models uses significant inputs that are not observable in market data. (**) Includes mainly short-term loans/deposits and repurchase/reverse repurchase agreements with corporate customers (mainly brokerage and investment companies). (***) Includes mainly structured loans to corporate clients. (****) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). Level 3 financial instruments Set forth below are the Group’s main financial instruments measured using unobservable market data as significant inputs of the internal models (level 3): • HTC&S (Hold to collect and sale) syndicated loans classified in the fair value category with changes in other comprehensive income, where the cost of liquidity is not directly observable in the market, as well as the prepayment option in favour of the borrower. • Illiquid equity instruments in non-trading portfolios, classified at fair value through profit or loss and at fair value through equity. • Instruments in Santander UK’s portfolio (loans, debt instruments and derivatives) linked to the House Price Index (HPI). Even if the valuation techniques used for these instruments may be the same as those used to value similar products (present value in the case of loans and debt instruments, and the Black-Scholes model for derivatives), the main factors used in the valuation of these instruments are the HPI spot rate, the growth and volatility thereof, and the mortality rates, which are not always observable in the market and, accordingly, these instruments are considered illiquid. • Callable interest rate derivatives (Bermudan-style options) where the main unobservable input is mean reversion of interest rates. • Trading derivatives on interest rates, taking as an underlying asset titling and with the amortization rate (CPR, Conditional prepayment rate) as unobservable main entry. • Derivatives from trading on inflation in Spain, where volatility is not observable in the market. • Equity volatility derivatives, specifically indices and equities, where volatility is not observable in the long term. • Derivatives on long-term interest rate and FX in some units (mainly South America) where for certain underlyings it is not possible to demonstrate observability to these terms. • Debt instruments referenced to certain illiquid interest rates, for which there is no reasonable market observability. The measurements obtained using the internal models might have been different if other methods or assumptions had been used with respect to interest rate risk, to credit risk, market risk and foreign currency risk spreads, or to their related correlations and volatilities. Nevertheless, the Bank’s directors consider that the fair value of the financial assets and liabilities recognised in the interim condensed consolidated balance sheet and the gains and losses arising from these financial instruments are reasonable. The net amount recorded in the results of the first six months of 2023 arising from models whose significant inputs are unobservable market data (level 3) amounted to EUR 178 million profit (EUR 19 million in the first six months of 2022). The table below shows the effect, at 30 June 2023 and 31 December 2022, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by applying the probable valuation ranges of the main unobservable inputs detailed in the following table: 30-06-2023 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Financial assets held for trading Loans and advances to customers Repos/Reverse repos Others Long-term repo spread n.a. n.a. (0.04) 0.00 Debt securities Corporate debt Discounted Cash Flows Credit spread 0% - 10% 5.04% (1.51) 1.54 Corporate debt Price based Market price 85% - 115% 100.00% 0.00 0.00 Government debt Discounted Cash Flows Discount curve 0% - 8% 3.93% (8.25) 7.97 Derivatives CCS Discounted Cash Flows Interest rate (1.4)% - 1.4% 0.00% 0.00 0.00 CCS Forward estimation Interest rate (6)bp - 6bp 2.32bp (0.04) 0.07 EQ Options EQ option pricing model Volatility 0% - 90% 61.30% (0.38) 0.84 EQ Options Local volatility Volatility 10% - 90% 50.00% (1.91) 1.91 FRAs Asset Swap model Interest rate 0% - 6% 2.71% (0.94) 0.78 Inflation Derivatives Asset Swap model Inflation Swap Rate 0% - 10% 3.41% (0.29) 0.15 IR Options IR option pricing model Volatility 0% - 60% 35.82% (0.26) 0.38 IRS Asset Swap model Interest rate 0% - 15% 9.20% (0.05) 0.08 IRS Discounted Cash Flows Credit spread 1.1% - 5.8% 3.67% (1.80) 1.95 IRS Discounted Cash Flows Swap rate 8.2% - 8.7% 8.44% (0.54) 0.53 IRS Forward estimation Interest rate (6)bp - 6bp 0.12bp (0.04) 0.05 IRS Others Others 5% - n.a n.a (0.69) 0.28 IRS Prepayment modelling Prepayment rate 3.1% - 5.7% 4.33% 0.00 0.16 Others Forward estimation Price 0% - 2% 0.62% (0.46) 0.20 Property derivatives Option pricing model Growth rate (5)% - 5% 0.00% (4.08) 4.08 Financial assets designated at fair value through profit or loss Loans and advances to customers Loans Discounted Cash Flows Credit spreads 0.1% - 2% 1.05% (0.15) 0.15 Mortgage portfolio Black Scholes model Growth rate (5)% - 5% 0.00% (0.47) 0.47 Repos/Reverse repos Others Repo curve 4.8bp - 6.7bp 5.63bp 0.00 0.00 30-06-2023 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Debt securities Other debt securities Others Inflation Swap Rate 0% - 8% 3.88% (4.51) 4.24 Non-trading financial assets mandatorily at fair value through profit or loss Debt securities Property securities Probability weighting Growth rate 5% - 5% 0% (0.47) 0.47 Equity instruments Equities Price Based Price 90% - 110% 100% (134.66) 134.66 Financial assets at fair value through other comprehensive income Loans and advances to customers Loans Discounted Cash Flows Credit spread n.a n.a (22.17) 0.00 Loans Discounted Cash Flows Interest rate curve 8% - 9% 8.60% (0.86) 0.86 Loans Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (22.80) 22.80 Loans Forward estimation Credit spread 1.68% - 2.7% 1.68% (0.68) 0.00 Debt securities Corporate debt Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (0.52) 0.52 Government debt Discounted Cash Flows Interest rate (1.9)% - 0.1% (0.87)% (0.01) 0.01 Equity instruments Equities Price Based Price 90% - 110% 100.00% (49.63) 49.63 Financial liabilities held for trading Derivatives Cap&Floor Volatility option model Volatility 10% - 90% 32.37% (0.77) 0.30 31-12-2022 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Financial assets held for trading Debt securities Corporate debt Discounted Cash Flows Credit spread 0% - 20% 10.07% (1.38) 1.40 Corporate debt Price based Market price 85% - 115% 100.00% — — Government debt Discounted Cash Flows Discount curve 0% - 10% 4.92% (8.34) 8.07 Derivatives CCS Discounted Cash Flows Interest rate (0.70)% - 0.70% 0.00% — — CCS Forward estimation Interest rate (4)bp - 4bp 0.42bp (0.06) 0.07 CDS Discounted Cash flows Credit Spread 14.90bp - 42.10bp 21.99bp (0.05) 0.02 EQ Options EQ option pricing model Volatility 0% - 90% 61.30% (0.23) 0.48 EQ Options Local volatility Volatility 10% - 90% 50.00% (1.05) 1.05 FRAs Asset Swap model Interest rate 0% - 6% 2.71% (1.16) 0.95 Fx Swap Others Others n.a. n.a (1.37) 1.37 Inflation Derivatives Asset Swap model Inflation Swap Rate 0% - 10% 3.41% (0.21) 0.11 Inflation Derivatives Volatility option model Volatility 0% - 40% 17.37% (0.14) 0.11 IR Options IR option pricing model Volatility 0% - 60% 35.82% (0.30) 0.44 IRS Asset Swap model Interest rate 0% - 15% 9.20% (0.05) 0.08 IRS Discounted Cash Flows Credit spread 1.25% - 6.29% 3.89% (2.25) 2.47 IRS Discounted Cash Flows Swap rate 8.6% - 9.1% 8.84% (0.02) 0.03 IRS Forward estimation Interest rate (6)pb - 6pb 0.13bp (0.04) 0.04 IRS Others Others 5% - n.a n.a (11.58) — IRS Prepayment modelling Prepayment rate 2.5% - 6.2% 4.17% (0.06) 0.05 Others Forward estimation Price 0% - 2% 0.62% (0.53) 0.24 Property derivatives Option pricing model Growth rate (5)% - 5% 0.00% (5.75) 5.75 Financial assets designated at fair value through profit or loss Loans and advances to customers Loans Discounted Cash Flows Credit spreads 0.1% - 2% 1.05% (0.18) 0.18 Mortgage portfolio Black Scholes model Growth rate (5)% - 5% 0.00% (0.79) 0.79 31-12-2022 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Debt securities Other debt securities Others Inflation Swap Rate 0% - 10% 4.74% (4.25) 3.83 Non-trading financial assets mandatorily at fair value through profit or loss Debt securities Corporate debt Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0.01bp (0.33) 0.33 Corporate debt Probability weighting Growth rate (5)% - 5% 0.00% (0.68) 0.68 Equity instruments Equities Price Based Price 90% - 110% 100.00% (126.87) 126.87 Financial assets at fair value through other comprehensive income Loans and advances to customers Loans Discounted Cash Flows Credit spread n.a. n.a (24.10) — Loans Discounted Cash Flows Interest rate curve 0.8% - 1.0% 0.88% (0.08) 0.08 Loans Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (17.51) 17.51 Loans Forward estimation Credit spread 2.56% - 3.40% 2.56% (0.49) — Debt securities Government debt Discounted Cash Flows Interest rate (0.4)% - 1.6% 0.63% (0.01) 0.01 Equity instruments Equities Price Based Price 90% - 110% 100.00% (70.04) 70.04 Financial liabilities held for trading Derivatives Cap&Floor Volatility option model Volatility 10% - 90% 40.73% (0.29) 0.18 Financial liabilities designated at fair value through profit or loss Loans and advances to customers Repos/Reverse repos Others Long-term repo spread n.a. n.a. (0.13) — Lastly, the changes in the financial instruments classified as level 3 in the first six months of 2023 and 2022 were as follows: 01-01-2023 Changes 30-06-2023 EUR million Fair value calculated using internal models (Level 3) Purchases/Settlements Sales/Amortisation Changes in fair value recognized in profit or loss Changes in fair value recognised in equity Level reclassifications Other Fair value calculated using internal models (Level 3) Financial assets held for trading 383 198 (72) 77 — 303 151 1,040 Customers — — — (1) — — 146 145 Debt instruments 42 52 (4) 1 — 316 6 413 Equity instruments 1 — — — — — — 1 Trading derivatives 340 146 (68) 77 — (13) (1) 481 Swaps 139 — (3) 93 — — (12) 217 Exchange rate options 4 — — (1) — — — 3 Interest rate options 39 — — (10) — — — 29 Index and securities options 48 52 — 3 — (23) 5 85 Other 110 94 (65) (8) — 10 6 147 Hedging derivatives (Assets) — — — — — 1 — 1 Swaps — — — — — 1 — 1 Financial assets designated at fair value through profit or loss 427 — — (40) — — 30 417 Loans and advances to customers 5 — — — — — — 5 Debt instruments 422 — — (40) — — 30 412 Non-trading financial assets mandatorily at fair value through profit or loss 1,833 163 (116) 48 — — (16) 1,912 Loans and advances to customers 239 59 (63) (16) — — 9 228 Debt instruments 325 32 (25) 3 — — 2 337 Equity instruments 1,269 72 (28) 61 — — (27) 1,347 Financial assets at fair value through other comprehensive income 5,647 4,197 (3,595) — (222) 505 86 6,618 Loans and advances to customers 4,718 4,196 (3,590) — 23 473 39 5,859 Debt instruments 229 — (3) — (1) 32 6 263 Equity instruments 700 1 (2) — (244) — 41 496 TOTAL ASSETS 8,290 4,558 (3,783) 85 (222) 809 251 9,988 Financial liabilities held for trading 415 304 (101) (91) — (118) (7) 402 Trading derivatives 415 304 (101) (91) — (118) (7) 402 Swaps 235 104 (70) (25) — (97) (14) 133 Exchange rate options — 24 (24) — — — — — Interest rate options 19 7 (1) (3) — — — 22 Index and securities options 42 38 (6) 3 — (21) 7 63 Others 119 131 — (66) — — — 184 Hedging derivatives (Liabilities) 14 — — 3 — 36 — 53 Swaps 14 — — 3 — 36 — 53 Financial liabilities designated at fair value through profit or loss (*) 151 — (5) 1 — — (147) — Liabilities covered by insurance and reinsurance contracts (*) 345 — — (6) — — 26 365 TOTAL LIABILITIES 925 304 (106) (93) — (82) (128) 820 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). 01-01-2022 Changes 30-06-2022 EUR million Fair value calculated using internal models (Level 3) Purchases/Settlements Sales/Amortisation Changes in fair value recognized in profit or loss Changes in fair value recognised in equity Level reclassifications Other Fair value calculated using internal models (Level 3) Financial assets held for trading 537 29 (9) (52) — (2) 14 517 Debt instruments 22 — — 1 — — 5 28 Equity instruments 2 — — (1) — — — 1 Trading derivatives 513 29 (9) (52) — (2) 9 488 Swaps 224 — — 5 — — (13) 216 Exchange rate options 12 — (9) 11 — — (1) 13 Interest rate options 182 — — (98) — (1) — 83 Index and securities options 41 — — 1 — — (40) 2 Other 54 29 — 29 — (1) 63 174 Financial assets designated at fair value through profit or loss 418 — (3) 4 — — 75 494 Credit institutions — — — — — — — — Loans and advances to customers 18 — (3) (2) — — — 13 Debt instruments 400 — — 6 — — 75 481 Non-trading financial assets mandatorily at fair value through profit or loss 1,865 112 (218) 110 — (29) 105 1,945 Loans and advances to customers 268 20 (67) 40 — — 58 319 Debt instruments 366 — (25) (3) — (29) 2 311 Equity instruments 1,231 92 (126) 73 — — 45 1,315 Financial assets at fair value through other comprehensive income 4,847 4,962 (5,187) — (191) 205 69 4,705 Loans and advances to customers 3,880 4,960 (5,177) — (17) 137 5 3,788 Debt instruments 146 — (1) — 9 — 63 217 Equity instruments 821 2 (9) — (183) 68 1 700 TOTAL ASSETS 7,667 5,103 (5,417) 62 (191) 174 263 7,661 Financial liabilities held for trading 160 84 (61) 42 — (14) — 211 Trading derivatives 160 84 (61) 42 — (14) — 211 Swaps 44 15 (5) 80 — — (13) 121 Exchange rate options 7 6 (14) 1 — — — — Interest rate options 26 42 (20) (16) — — — 32 Index and securities options 67 — (2) — — — (65) — Interest rate and equity futures — — — — — — — — Others 16 21 (20) (23) — (14) 78 58 Financial liabilities designated at fair value through profit or loss (*) 151 — (2) 1 — — — 150 Liabilities covered by insurance and reinsurance contracts (*) 318 — (97) — — — 48 269 TOTAL LIABILITIES 629 84 (160) 43 — (14) 48 630 The following terms are used with the meanings specified below: • Refinancing transaction: transaction that is granted or used, for reasons relating to current or foreseeable financial difficulties of the borrower, to repay one or more of the transactions granted to it, or through which the payments on such transactions are brought fully or partially up to date, in order to enable the borrowers of the cancelled or refinanced transactions to repay their debt (principal and interest) because they are unable, or might foreseeably become unable, to comply with the conditions thereof in due time and form. • Restructured transaction: transaction with respect to which, for economic or legal reasons relating to current or foreseeable financial difficulties of the borrower, the financial terms and conditions are modified in order to facilitate the payment of the debt (principal and interest) because the borrower is unable, or might foreseeably become unable, to comply with the aforementioned terms and conditions in due time and form, even if such modification is envisaged in the agreement. For maximum guarantees amount, we will consider as follows: • Real guarantees: the appraisal amount or valuation amount of the real guarantees received; for each transaction it cannot be higher than the covered amount of exposure. 30-06-2023 Total Of which: impaired Without real guarantee With real guarantee Without real guarantee With real guarantee Maximum amount of the actual collateral that can be considered Maximum amount of the actual collateral that can be considered Amounts in million euros, except number of transactions in units Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Credit entities — — — — — — — — — — — — — — Public sector 10,578 364 36 5 2 — 3 9 3 9 — — — 3 Other financial institutions and: individual shareholder 1,197 168 1,034 347 72 129 74 622 69 660 158 19 48 58 Non financial institutions and individual shareholder 304,058 8,550 60,027 7,652 4,377 1,750 3,504 160,329 3,050 39,771 4,260 2,371 861 3,010 Of which: Financing for constructions and property development 16,476 138 2,111 528 421 37 169 9,867 88 1,281 260 194 15 145 Other warehouses 5,782,449 6,877 513,622 9,589 4,807 3,741 4,637 3,098,609 3,020 267,646 4,492 1,887 1,805 3,441 Total 6,098,282 15,959 574,719 17,593 9,258 5,620 8,218 3,259,569 6,142 308,086 8,910 4,277 2,714 6,512 Financing classified as non-current assets and disposable groups of items that have been classified as held for sale — — — — — — — — — — — — — — 31-12-2022 Total Of which: impaired Without real guarantee With real guarantee Without real guarantee With real guarantee Maximum amount of the actual collateral that can be considered Maximum amount of the actual collateral that can be considered Amounts in million euros, except number of transactions in units Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Credit entities — — — — — — — — — — — — — — Public sector 6,679 227 31 7 2 — 6 7 2 13 5 2 — 5 Other financial institutions and: individual shareholder 1,210 321 785 339 88 86 61 641 9 620 135 22 6 55 Non financial institutions and individual shareholder 312,934 9,578 60,003 8,419 4,790 1,834 3,912 174,300 3,178 39,479 4,890 2,741 886 3,439 Of which: Financing for constructions and property development 15,578 125 1,890 570 423 48 208 10,325 78 1,255 335 213 33 188 Other warehouses 5,878,455 5,790 492,232 9,492 4,835 3,502 4,287 3,735,412 2,911 246,751 4,055 1,917 910 3,122 Total 6,199,278 15,916 553,051 18,257 9,715 5,422 8,266 3,910,360 6,100 286,863 9,085 4,682 1,802 6,621 Financing classified as non-current assets and disposable groups of items that have been classified as held for sale — — — — — — — — — — — — — — c) Real estate business – Spain i) Portfolio of home purchase loans to families Home purchase loans granted to families in Spain on 30 June 2023 amounted to EUR 61,606 million (EUR 63,688 million at 31 December 2022). Of which mortgage guarantees are 99.63%: Million euros 30-06-2023 31-12-2022 Gross Amount Of which: impaired Gross Amount Of which: impaired Home purchase loans to families 61,606 987 63,688 1,088 - Without mortgage guarantee 229 14 288 24 - With mortgage guarantee 61,377 973 63,400 1,064 The risk profile of the home purchase mortgage loan portfolio in Spain remained at a medium-low level, with limited prospects of additional impairment: • Principal is repaid on all mor tgages from the start. • Early repayment is common so the average life of the transaction is well below that of the contract. • High quality of collateral concentrated almost exclusively in financing the first home. • Average affordability rate at the end of June st ood at 29%. • 94.04% of the portfolio has a LTV below 80%, calcula ted a s total risk/latest available house appraisal. 30-06-2023 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 18,444 20,765 18,512 2,523 1,133 61,377 Of which: impaired 142 193 204 167 267 973 31-12-2022 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 17,877 20,617 20,225 3,294 1,387 63,400 Of which: impaired 132 192 220 181 339 1,064 ii) Financing construction and property development At 30 June 2022 and 31 December 2022 the financing amount related to construction and real estate business in Spain amounted to EUR 2,246 million and EUR 2,283 million net of allowances, respectively. 30-06-2023 Million euros Gross amount Excess of gross exposure over maximum recoverable amount of effective collateral Specific allowance Financing for construction and property development recognised by the Group's credit institutions (including land) (business in Spain) 2,282 209 36 Of which: watchlist/ impaired 75 8 26 Memorandum items: Written-off assets 376 31-12-2022 Million euros Gross amount Excess of gross exposure over maximum recoverable amount of effective collateral Specific allowance Financing for construction and property development recognised by the Group's credit institutions (including land) (business in Spain) 2,327 211 44 Of which: watchlist/ impaired 94 21 33 Memorandum items: Written-off assets 487 30-06-2023 31-12-2022 Million euros Carrying amount Memorandum items: Total loans and advances to customers excluding the public sector (business in Spain) (book value) 243,814 250,702 Total consolidated assets (Total business) (book value) 1,780,493 1,734,659 Impairment losses and provision for exposure classified as normal (business in Spain) 1,247 1,311 At the end 30 June 2023 and 31 December 2022 the concentration of this portfolio was as follows: Loans: gross amount Million euros 30-06-2023 31-12-2022 1. Without mortgage guarantee 36 42 2. With mortgage guarantee 2,246 2,285 2.1 Completed buildings 951 1,138 2.1.1 Residential 528 674 2.1.2 Other 423 464 2.2 Buildings and other constructions under construction 1,273 1,110 2.2.1 Residential 1,216 1,103 2.2.2 Other 57 7 2.3 Land 22 37 2.3.1 Developed consolidated land 14 25 2.3.2 Other land 8 12 Total 2,282 2,327 d) Foreclosed real estate assets The following table shows the breakdown at 30 June 2023 and 31 December 2022 of the foreclosed assets for the Spanish business: 30-06-2023 Million euros Gross carrying amount Valuation Adjustments Of which: Impairment losses since time of the foreclosure Carrying amount Property assets arising from financing provided to construction and property development companies 5,241 2,941 2,162 2,300 Of which: Completed Buildings 1,210 630 522 580 Residential 262 126 102 136 Other 948 504 420 444 Buildings under |
Additional disclosure requireme
Additional disclosure requirements | 6 Months Ended |
Jun. 30, 2023 | |
Parent Company Financial Statements And Preference Shares And Preferred Securities [Abstract] | |
Additional disclosure requirements | Additional disclosure requirements This note includes relevant information about additional disclosure requirements. 17.1 Parent company financial statements Following are the summarised balance sheets of Banco Santander, S.A. as of 30 June 2023 and 31 December 2022. In the financial information of the Parent, investments in subsidiaries, jointly controlled entities and associates are recorded at cost. UNAUDITED CONDENSED BALANCE SHEETS 30 June 2023 31 December 2022 (Parent company only) (Millions of Euros) Assets Cash and due from banks 158,281 177,920 Of which: To bank subsidiaries 7,510 14,548 Trading account assets 104,836 92,128 Investment securities 58,000 47,560 Of which: To bank subsidiaries 16,248 14,287 To non-bank subsidiaries 1,171 1,327 Net Loans and leases 302,561 314,905 Of which: To non-bank subsidiaries 23,473 25,312 Investment in affiliated companies 96,997 94,213 Of which: To bank subsidiaries 73,360 70,698 To non-bank subsidiaries 23,637 23,515 Premises and equipment, net 6,466 6,513 Other assets 14,663 16,787 Total assets 741,804 750,026 Liabilities Deposits 378,537 418,841 Of which: To bank subsidiaries 8,514 16,619 To non-bank subsidiaries 12,995 15,106 Short-term debt 93,116 54,255 Long-term debt 104,059 114,447 Total debt 197,175 168,702 Of which: To bank subsidiaries 88 — To non-bank subsidiaries 2,147 1,638 Other liabilities 94,986 92,437 Total liabilities 670,698 679,980 Stockholders' equity Capital stock 8,092 8,397 Retained earnings and other reserves 63,014 61,649 Total stockholders' equity 71,106 70,046 Total liabilities and Stockholders’ Equity 741,804 750,026 Following are the summarised unaudited statements of income of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED STATEMENTS OF INCOME Six months ended Six months ended (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) Interest income 13,380 7,004 Interest from earning assets 10,249 4,191 Dividends from affiliated companies 3,131 2,813 Of which: From bank subsidiaries 2,618 2,625 From non-bank subsidiaries 513 188 Interest expense (6,938) (2,068) Interest income / (Charges) 6,442 4,936 Provision for credit losses (755) (818) Interest income / (Charges) after provision for credit losses 5,687 4,118 Non-interest income: 2,397 2,558 Non-interest expense: (4,187) (4,202) Income before income taxes 3,897 2,474 Income tax expense (243) (43) Net income 3,654 2,431 Following are the summarised unaudited statements of comprehensive income of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED STATEMENTS OF Six months ended Six months ended COMPREHENSIVE INCOME (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) NET INCOME 3,654 2,431 OTHER COMPREHENSIVE INCOME (183) (683) Items that may be reclassified subsequently to profit or loss 104 (551) Hedging instruments (items not designated) — — Revaluation gains (losses) — — Amounts transferred to income statement — — Other reclassifications — — Debt instruments at fair value with changes in other comprehensive income 43 (378) Revaluation gains (losses) 38 (327) Amounts transferred to income statement 5 (52) Other reclassifications — — Cash flow hedges: 133 (408) Revaluation gains/(losses) (24) (394) Amounts transferred to income statement 157 (14) Amounts transferred to initial carrying amount of hedged items — — Other reclassifications — — Hedges of net investments in foreign operations: — — Exchange differences — — Non-current assets held for sale — — Income tax (72) 235 Items that will not be reclassified to profit or loss: (287) (132) Actuarial gains/(losses) on pension plans 12 217 Other recognised income and expense of investments in subsidiaries, joint ventures and associates — — Changes in the fair value of equity instruments measured at fair value through other comprehensive income (275) (344) Gains or losses resulting from the accounting for hedges of equity instruments measured at fair value through other comprehensive income, net — — Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedged item) (41) 37 Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedging instrument) 41 (37) Changes in the fair value of financial liabilities at fair value through profit or loss attributable to changes in credit risk (34) 84 Income tax relating to items that will not be reclassified 10 (89) TOTAL COMPREHENSIVE INCOME 3,471 1,748 Following are the summarised unaudited cash flow statements of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED CASH FLOW STATEMENTS Six months ended Six months ended (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) 1. Cash flows from operating activities Consolidated profit 3,654 2,431 Adjustments to profit 2,080 (483) Net increase/decrease in operating assets (10,186) (59,337) Net increase/decrease in operating liabilities (14,608) 80,616 Reimbursements/payments of income tax 1,134 (287) Total net cash flows from operating activities (1) (17,926) 22,940 2. Cash flows from investing activities Investments (-) (2,438) (2,072) Divestments (+) 4,099 4,440 Total net cash flows from investment activities (2) 1,661 2,368 3. Cash flows from financing activities Issuance of own equity instruments — — Disposal of own equity instruments 336 202 Acquisition of own equity instruments (1,622) (1,067) Issuance of debt securities 1,500 — Redemption of debt securities (438) (1,203) Dividends paid (963) (869) Issuance/Redemption of equity instruments — — Other collections/payments related to financing activities (87) (158) Total net cash flows from financing activities (3) (1,274) (3,095) 4. Effect of exchange rate changes on cash and cash equivalents (4) (429) 448 5. Net increase/decrease in cash and cash equivalents (1+2+3+4) (17,968) 22,661 Cash and cash equivalents at beginning of period 130,083 91,736 Cash and cash equivalents at end of period 112,115 114,397 17.2 Preference Shares and Preferred Securities The following table shows the balance of the preference shares and preferred securities as of 30 June 2023 and 31 December 2022: 30 June 2023 31 December 2022 (Millions of Euros) Preference shares 205 198 Preferred securities 7,864 7,898 Total at period-end 8,069 8,096 Both preference shares and preferred securities are recorded under the “Financial liabilities at amortized cost – Subordinated Liabilities” caption in the consolidated balance sheet as of 30 June 2023 and 31 December 2022. Preference shares include the financial instruments issued by the consolidated companies which, although equity for legal purposes, do not meet the requirements for classification as equity in the financial statements. These shares do not carry any voting rights and are non-cumulative. Preference shares include non-cumulative preferred non-voting shares issued by Santander UK plc. Preferred securities include non-cumulative preferred non-voting securities issued by Banco Santander, S.A. For the purposes of payment priority, preferred securities are junior to all general creditors and to subordinated deposits. The payment of dividends on these securities, which have no voting rights, is conditional upon obtaining sufficient distributable profit and upon the limits imposed by Spanish banking regulations on equity. Preference shares and preferred securities are perpetual securities and there is no obligation that requires the Group to redeem them. All securities have been fully subscribed by third parties outside the Group. In the consolidated balance sheets, these securities are shown net of any temporary transactions relating to liquidity guarantees. For further information, see Note 23.c. to our consolidated financial statements in Part 1 of our 2022 Form 20-F filed with the SEC on 1 March 2023 and Note 9.b. to our consolidated financial statements in Part 2 of this report. Outstanding at 30 June 2023 Amount in Preference Shares currency Interest rate Redemption Issuer/Date of issue Currency (million) Option (A) Santander UK plc, October 1995 Pounds Sterling 80.3 10.375 % No option Santander UK plc, February 1996 Pounds Sterling 80.3 10.375 % No option Outstanding at 30 June 2023 Amount in Preferred Securities currency Interest rate Maturity date Issuer/Date of issue Currency (million) Banco Santander, S.A. Banco Santander, S.A., September 2017 Euro 1,000.0 5.25 % (B) Perpetuity Banco Santander, S.A., March 2018 Euro 1,500.0 4.75 % (C) Perpetuity Banco Santander, S.A., February 2019 US Dollar 1,200.0 7.50 % (D) Perpetuity Banco Santander, S.A., January 2020 Euro 1,500.0 4.375 % (E) Perpetuity Banco Santander, S.A., May 2021 US Dollar 1,000.0 4.75 % (F) Perpetuity Banco Santander, S.A., May 2021 Euro 750.0 4.125 % (G) Perpetuity Banco Santander, S.A., September 2021 Euro 1,000.0 3.625 % (H) Perpetuity Santander Finance Preferred, S.A. (Unipersonal), September 2004 Euro 144.0 €CMS 10 +0.05% subject to a maximum distribution of 8% per annum Perpetuity A. From these dates the issuer can redeem the shares, subject to prior authorization by the national supervisor. B. Payment is subject to certain conditions and to the discretion of Banco Santander. The 5.25% interest rate is set for the first six years. After that, it will be reviewed by applying a margin of 499.9 basis points on the 5-year Mid-Swap Rate. C. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.75% interest rate is set for the first seven years. After that, it will be reviewed by applying a margin of 409.7 basis points on the Mid-Swap Rate. D. Payment is subject to certain conditions and to the discretion of Banco Santander. The 7.50% interest rate is set for the first five years. After that, it will be reviewed every 5 years by applying a margin of 498.9 basis points on the Mid-Swap Rate. E. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.375% interest rate is set for the first six years. After that, it will be reviewed every 5 years by applying a margin of 453.4 basis points on the 5-year Mid-Swap Rate. F. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.750% interest rate is set for the first six years, revised every 5 years thereafter by applying a margin of 375.3 basis points over the 5-year UST rate. G. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.125% interest rate is set for the first seven years, revised every 5 years thereafter by applying a margin of 431.1 basis points over the applicable 5-year Euro mid-swap. H. Payment is subject to certain conditions and to the discretion of Banco Santander. The 3.625% interest rate is set for the first eight years, revised every 5 years thereafter by applying a margin of 376 basis points over the 5-year Mid-Swap Rate. Santander Finance Preferred, S.A. (Unipersonal) - issuer of registered securities guaranteed by Banco Santander, S.A. until November 2017, merged on that date with Banco Santander, S.A. |
Introduction, basis of presen_2
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of reclassifications or changes in presentation [abstract] | |
Basis of presentation of the interim financial statements | Basis of presentation of the interim financial statements Under Regulation (EC) n.º 1606/2002 of the European Parliament and of the Council of 19 July 2002 all companies governed by the law of an EU Member State and whose securities are admitted to trading on a regulated market of any Member State must prepare their consolidated financial statements for the years beginning on or after 1 January, 2005 in conformity with the International Financial Reporting Standards ('IFRS') previously adopted by the European Union ('EU-IFRS'). In order to adapt the accounting system of Spanish credit institutions with the principles and criteria established by the IFRS adopted by the European Union ('EU-IFRS'), the Bank of Spain published circular 4/2017, dated 27 November 2017, and subsequent changes, on Public and Confidential Financial Reporting Standards and Financial Statement Formats. The consolidated annual accounts for 2022 were authorised at the board of directors meeting on 27 February 2023 in compliance with International Financial Reporting Standards as adopted by the European Union, taking into account Bank of Spain Circular 4/2017, and subsequent modifications, using the basis of consolidation, accounting policies and measurement bases described in Note 2 to the aforementioned consolidated annual accounts and, accordingly, they presented fairly Grupo Santander’s consolidated equity and consolidated financial position at 31 December 2022 and the consolidated results of its operations, and the consolidated cash flows in 2022. The aforementioned consolidated annual accounts, which are included in Grupo Santander’s Form 20-F filed with the U.S. Securities and Exchange Commission on 1 March 2023, and these interim financial statements are also in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board ('IFRS-IASB', and together with EU-IFRS, 'IFRS'). These interim financial statements were prepared and are presented in accordance with International Accounting Standard (IAS 34), Interim Financial Reporting, for the preparation of interim financial statements in accordance with the provisions of article 12 of Royal Decree 1362/2007 taking into account the requirements of Circular 3/2018, of June 28, of the Securities and Exchange Commission (CNMV). These interim financial statements will be included in the Half-Yearly Financial Information corresponding to the first half of 2023 that the Group presents in accordance with the aforementioned Circular 3/2018. In accordance with IAS 34, the interim financial statements are intended only to provide an update on the content of the latest consolidated annual accounts authorised for issue, focusing on new activities, events and circumstances occurring during the first six months, and does not duplicate information previously reported in the latest consolidated annual accounts. Consequently, these interim financial statements do not include all the information that would be required for a complete set of consolidated annual accounts prepared in accordance with IFRS and, accordingly, for a proper comprehension of the information included in these interim financial statements, they should be read together with Grupo Santander’s consolidated annual accounts for the year ended 31 December 2022. Grupo Santander policies include presenting the interim financial statements for its use in the different markets using the Euro as its presentation currency. The amounts held in other currencies and the balances of entities whose functional currency is not the Euro, have been translated to the presentation currency in accordance with the criteria indicated in Note 2.a to the consolidated annual accounts for 2022. As indicated in that note, for practical reasons, the balance sheet amount has been converted to the closing exchange rate, the equity to the historical type, and the income and expenses have been converted by applying the average exchange rate of the period; the application of such exchange rate or that corresponding to the date of each transaction does not lead to significant differences in the interim financial statements of Grupo Santander. The accounting policies and methods used in preparing these interim financial statements are the same as those applied in the consolidated annual accounts for 2022 taking into account the standards and interpretations with effective application date during the first six months of 2023, which are detailed below: – IFRS 17 Insurance Contracts and amendments to IFRS 17: new general accounting standard for insurance contracts, which includes the recognition, measurement, presentation and disclosure of information. Insurance contracts combine financial and service provision features that, in many cases, generate variable long- term cash flows. To properly reflect these characteristics, IFRS 17 combines the measurement of future cash flows with the recording of the contract result during the period in which the service is provided, presents separately the financial results from the results for the provision of the service and allows entities, through the choice of an accounting policy option, to recognize the financial results in the income statement or in other comprehensive income. Applicable retrospectively from 1 January 2023. The Group has carried out a project to implement IFRS 17 with all affected Group entities and has drawn up an accounting policy that establishes the accounting criteria for recording insurance contracts. Grupo Santander concluded the analysis of the effects of this new standard without having identified material equity impacts in its interim financial statements due to the application of said standard, except for a reclassification of the balance sheet to the heading 'Liabilities covered by insurance or reinsurance contracts', registered at 1 January 2023, of a portfolio of products for an amount of approximately EUR 16 billion, derived from the different treatment that this new standard establishes for the components of an insurance contract. – The amendments to IAS 1 Presentation of Financial Statements require companies to disclose material information about their accounting policies rather than their significant accounting policies. Applicable from 1 January 2023. – The amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors clarifies how to distinguish changes in accounting policies, which are generally applied retrospectively, from changes in accounting estimates, which are generally applied prospectively. Applicable from 1 January 2023. – The amendments to IAS 12 Income Taxes require companies to recognise deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. In addition, entities should recognise deferred tax assets (to the extent that it is probable that they can be utilised) and deferred tax liabilities at the beginning of the earliest comparative period for all deductible and taxable temporary differences associated with: • Right-of-use assets and lease liabilities. • Decommissioning, restoration and similar liabilities, and the corresponding amounts recognised as part of the cost of the related assets. The cumulative effect of recognising these adjustments is recognised in retained earnings, or another component of equity, as appropriate. Applicable from 1 January 2023. By the time of the preparation of these interim financial statements, there is an amendment to IAS 12 that was approved by the IASB on 23 May 2023 with an effective date of 1 January 2023, and that is pending adoption by the European Union for the current exercise. – The amendments to IAS 12 Income Taxes applies to income taxes arising from tax law enacted or substantively enacted to implement the Pillar Two model rules published by the Organisation for Economic Co-operation and Development (OECD), including tax law that implements qualified domestic minimum top-up taxes described in those rules. The amendment includes the mandatory and temporary exception to the recognition and breakdown of deferred tax assets and liabilities derived from said Pillar Two model rules (applicable from the date of publication of the amendment) and establishes additional information requirements, differentiating between whether said tax law has entered into force (applicable from the date of publication of the amendment), or said tax law is enacted or substantially enacted, in which case the information requirements will be necessary for the annual periods beginning on or after 1 January 2023 (without any information requirement in the intermediate periods). Banco Santander has not applied the aforementioned exception since there are no tax laws for the implementation of the model rules of Pillar Two in force in the financial year 2023 for the geographies in which the Group operates. The aforementioned amendments to accounting standards have not had a significant effect on Grupo Santander’s financial statements, except for what was disclosed before. |
Use of critical estimates | Use of critical estimates The consolidated results and the determination of the consolidated equity are sensitive to the accounting principles and policies, valuation criteria and estimates used by the directors of Banco Santander in preparing the interim financial statements. The main accounting principles, policies, and valuation criteria are indicated in Note 2 of the consolidated annual accounts of the year 2022, except for those indicated in these interim financial statements due to the rules that have come into effect during the first six months of the year 2023. The interim financial statements contain estimates made by the senior management of Banco Santander and of the consolidated entities in order to quantify certain of the assets, liabilities, income, expenses and obligations reported in the consolidated entities. These estimates, which were made on the basis of the best information available, relate mainly to the following: 1. The income tax expense, which is recognised in interim periods based on the best estimate of the weighted average tax rate expected by Grupo Santander for the full financial year; 2. The impairment losses on certain assets – financial assets at fair value through other comprehensive income, financial assets at amortised cost, non-current assets held for sale, investments in subsidiaries, joint ventures and associates, tangible assets and intangible assets; 3. The assumptions used in the calculation of the post-employment benefit liabilities and commitments and other obligations; 4. The useful life of the tangible and intangible assets; 5. The measurement of goodwill impairment arising on consolidation; 6. The calculation of provisions and the consideration of contingent liabilities; 7. The fair value of certain unquoted assets and liabilities; 8. The recoverability of deferred tax assets; and 9. The fair value of the identifiable assets acquired and the liabilities assumed in business combinations in accordance with IFRS 3. To update the previous estimates, the Group's management has taken into account the current macroeconomic scenario and the situation of the war in Ukraine, as well as the challenges derived from the inflationary scenario, the recent turbulence in the world banking sector, mainly due to the bankruptcy of some regional banks in the United States, a specific case of a merger in Europe, which has contributed to generate greater uncertainty and volatility in the markets. The Group's management has evaluated in particular the uncertainties caused by the current environment in relation to credit, liquidity and market risks, taking into account the best available information, to estimate the impact on the credit portfolio's impairment provision, and in the debt instruments' interest rates and valuation. During the first six months ended 30 June 2023, there have been no additional significant changes in the estimates made at the end of 2022, other than those indicated in these interim financial statements. |
Contingent assets and liabilities | Contingent assets and liabilitiesNote 2.o to Grupo Santander's consolidated annual accounts for the year ended 31 December 2022 includes information on the contingent assets and liabilities at that date. There were no significant changes in Grupo Santander's contingent assets and liabilities from 31 December 2022 to the date of formal preparation of these interim financial statements. |
Shareholder remuneration syst_2
Shareholder remuneration system and earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings per share [abstract] | |
Schedule of shareholder remuneration | The cash remuneration paid by Banco Santander to its shareholders in the first six months of 2023 and 2022 was as follows: 30-06-2023 30-06-2022 % of par Euros per Amount % of par Euros per Amount Ordinary shares 11.90 % 0.0595 963 10.30 % 0.0515 869 Other shares (without vote, redeemable, etc.) — — — — — — Total remuneration paid 11.90 % 0.0595 963 10.30 % 0.0515 869 Dividend paid out of profit 11.90 % 0.0595 963 10.30 % 0.0515 869 Dividend paid with a charge to reserves or share premium — — — — — — Dividend in kind — — — — — — Flexible payment — — — — — — |
Schedule of basic and diluted earnings per share | Basic earnings per share for the period are calculated by dividing the net profit attributable to Grupo Santander for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares held in the period. Accordingly: 30-06-2023 30-06-2022 Profit attributable to the Parent (EUR million) 5,241 4,894 Remuneration of contingently convertible preferred securities (CCPS) (EUR million) (229) (292) 5,012 4,602 Of which: Profit or Loss from discontinued operations (non controlling interest net) (EUR million) — — Profit or Loss from continuing operations (CCPS net) (EUR million) 5,012 4,602 Weighted average number of shares outstanding 16,279,041,269 16,947,764,566 Basic earnings per share (euros) 0.31 0.27 Of which: from discontinued operations (euros) — — from continuing operations (euros) 0.31 0.27 ii. Diluted earnings per share Diluted earnings per share for the period are calculated by dividing the net profit attributable to Grupo Santander for the first six months adjusted by the after-tax amount relating to the remuneration of contingently convertible preference shares recognised in equity and of perpetual liabilities contingently amortisable in their case by the weighted average number of ordinary shares outstanding during the period, excluding the average number of treasury shares and adjusted for all the dilutive effects inherent to potential ordinary shares (share options, warrants and convertible debt instruments). Accordingly, diluted earnings per share were determined as follows: 30-06-2023 30-06-2022 Profit attributable to the Parent (EUR million) 5,241 4,894 Remuneration of contingently convertible preferred securities (CCPS) (EUR million) (229) (292) 5,012 4,602 Of which: Profit or Loss from discontinued operations (non controlling interest net) (EUR million) — — Profit or Loss from continuing operations (CCPS net) (EUR million) 5,012 4,602 Weighted average number of shares outstanding 16,279,041,269 16,947,764,566 Dilutive effect of options/receipt of shares 67,704,709 48,431,475 Adjusted number of shares 16,346,745,978 16,996,196,041 Diluted earnings per share (euros) 0.31 0.27 Of which: from discontinued operations (euros) — — from continuing operations (euros) 0.31 0.27 |
Remuneration and other benefi_2
Remuneration and other benefits paid to Banco Santander’s directors and senior managers (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Remuneration And Other Benefits [Abstract] | |
Schedule of total remuneration paid | Following is a summary of the most significant data on the remunerations and benefits for the first six months ended 30 June 2023 and 2022: Remuneration of members of the board of directors (1) EUR thousand 30-06-2023 30-06-2022 Members of the board of directors: (2) Remuneration concept Fixed salary remuneration of executive directors 3,136 2,859 Variable salary remuneration of executive directors — — Directors fees 628 525 Bylaw-stipulated emoluments (annual emolument) 2,113 1,890 Other 1,407 1,317 Sub-total 7,284 6,591 Transactions with shares and/or other financial instruments — — 7,284 6,591 (1) The Notes to the consolidated annual accounts for 2023 will contain detailed and complete information on the remuneration paid to all the directors, including executive directors. (2) Mr. Jose Antonio Álvarez stepped down as Vice chair and CEO Executive Director on 31 December 2022. Designated as Vice chair Non - executive Director 1 January 2023. Mr. Héctor Grisi was designated member of the board on 1 January 2023. Mr. Germán de la Fuente was designated member of the board on 1 April 2022. Mr. Glenn Hutchings was designated member of the board on 20 December 2022. Mr. Álvaro Cardoso de Souza stepped down as member of the board on 1 April 2022. Mr. Ramón Martín Chávez Márquez stepped down as member of the board on 1 July 2022. Mr. Sergio Agapito Lires Rial stepped down as member of the board on 31 December 2022. The table below includes the corresponding amounts related to remunerations of senior management at 30 June 2023 and 2022, excluding the executive directors: EUR thousand 30-06-2023 30-06-2022 Senior management (1) Total remuneration of senior management (2) 12,761 13,978 (1) Remunerations received during the first six months by members of the senior management who ceased in their functions by 30 June 2023, amounted to EUR 511 thousand. During the first six months of 2022, no member of senior management terminated their duties. (2) The number of members of Banco Santander's senior management, excluding executive director s, is 14 a s at 30 June 2023 ( 15 persons at 30 June 2022 ). |
Schedule of other benefits of members of the board of directors | EUR thousand 30-06-2023 30-06-2022 Members of the board of directors Other benefits Advances — — Loans granted 144 133 Pension funds and plans: Endowments and/or contributions (1) 1,055 946 Pension funds and plans: Accumulated rights (2) 66,792 64,895 Life insurance premiums 563 769 Guarantees provided for directors — — (1) These correspond to the endowments and/or contributions made during the first six months of 2023 and 2022 in respect of retirement pensions, widowhood, orphanhood and permanent disability. (2) Corresponds to the rights accru ed by the directors in matters of pensions. Additionally, former members of the board had at 30 June 2023 and 30 June 2022 rights accrued for this concept for EUR 46,275 thousand and EUR 48,388 thousand, respectively. |
Schedule of funds and pension plans of senior management | EUR thousand 30-06-2023 30-06-2022 Senior management (1) Pension funds: Endowments and / or contributions (2) 2,550 2,808 Pension funds: Accumulated rights (3) 55,451 56,222 (1) Contributions made during the first six months to members of the senior management who ceased in their functions by 30 June 2023, amounted to EUR 108 thousand. During the first six months of 2022, no member of senior management terminated their duties (2) Corresponds to the allocations and/or contributions made during the first six months of 2023 and 2022 as retirement pensions. (3) Corresponds to the rights accrued by members of senior man agement in the area of pensions. In addition, former members of senior management had at 30 June 2023 and 30 June 2022 rights accumulated for this same concept for EUR 90,401 thou sand and EUR 113,060 thousand, respectively. |
Financial assets (Tables)
Financial assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of financial assets [abstract] | |
Schedule of components of financial assets | The detail, by nature and category for measurement purposes, of Grupo Santander's financial assets, other than the balances relating to Cash, cash balances at central banks and other deposits on demand and Hedging derivatives, at 30 June 2023 and 31 December 2022 is as follows, presented by the nature and categories for valuation purposes: EUR million 30-06-2023 Financial Non-trading Financial Financial Financial Derivatives 67,613 Equity instruments 13,349 4,055 1,729 Debt instruments 55,823 888 3,089 76,010 91,559 Loans and advances 47,049 853 6,556 9,017 1,088,743 Central Banks 12,406 — — — 17,871 Credit institutions 23,592 1 626 303 52,375 Customers 11,051 852 5,930 8,714 1,018,497 Total 183,834 5,796 9,645 86,756 1,180,302 EUR million 31-12-2022 Financial Non-trading Financial Financial Financial Derivatives 67,002 Equity instruments 10,066 3,711 1,941 Debt instruments 41,403 1,134 2,542 75,083 73,554 Loans and advances 37,647 868 6,447 8,215 1,073,490 Central Banks 11,595 — — — 15,375 Credit institutions 16,502 — 673 — 46,518 Customers 9,550 868 5,774 8,215 1,011,597 Total 156,118 5,713 8,989 85,239 1,147,044 |
Disclosure of gross exposure by stages of impairment | Following is the gross exposure of financial assets subject to impairment stages at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Gross amount Gross amount Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Financial assets at fair value through other comprehensive income 84,841 160 97 85,098 83,118 184 24 83,326 Debt instruments 76,015 — 6 76,021 75,087 — 6 75,093 Loans and advances 8,826 160 91 9,077 8,031 184 18 8,233 Credit institutions 303 — — 303 — — — — Customers 8,523 160 91 8,774 8,031 184 18 8,233 Financial assets at amortised cost 1,097,848 71,743 33,395 1,202,986 1,070,025 66,588 32,997 1,169,610 Debt instruments 91,254 125 442 91,821 73,297 75 398 73,770 Loans and advances 1,006,594 71,618 32,953 1,111,165 996,728 66,513 32,599 1,095,840 Central Banks 17,871 — — 17,871 15,375 — — 15,375 Credit institutions 52,369 13 — 52,382 46,523 1 — 46,524 Customers 936,354 71,605 32,953 1,040,912 934,830 66,512 32,599 1,033,941 Total 1,182,689 71,903 33,492 1,288,084 1,153,143 66,772 33,021 1,252,936 30-06-2023 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 18,444 20,765 18,512 2,523 1,133 61,377 Of which: impaired 142 193 204 167 267 973 31-12-2022 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 17,877 20,617 20,225 3,294 1,387 63,400 Of which: impaired 132 192 220 181 339 1,064 At the end 30 June 2023 and 31 December 2022 the concentration of this portfolio was as follows: Loans: gross amount Million euros 30-06-2023 31-12-2022 1. Without mortgage guarantee 36 42 2. With mortgage guarantee 2,246 2,285 2.1 Completed buildings 951 1,138 2.1.1 Residential 528 674 2.1.2 Other 423 464 2.2 Buildings and other constructions under construction 1,273 1,110 2.2.1 Residential 1,216 1,103 2.2.2 Other 57 7 2.3 Land 22 37 2.3.1 Developed consolidated land 14 25 2.3.2 Other land 8 12 Total 2,282 2,327 |
Disclosure of reconciliation of changes in loss allowance and in gross carrying amount for financial instruments | The following is the movement that has taken place, during the first six months ended 30 June 2023 and 2022, in the balance of provisions that cover losses due to impairment of assets which comprise the heading balance of the financial assets at amortised cost: EUR million 30-06-2023 30-06-2022 Balance as at beginning of period 22,888 23,164 Impairment losses charged to income for the period 6,843 5,255 Of which: Impairment losses charged to income 11,225 9,720 Impairment losses reversed with a credit to income (4,382) (4,465) Perimeter change (37) — Write-off of impaired balances against recorded impairment allowance (6,831) (5,682) Exchange differences and other 492 937 Balance as at end of period 23,355 23,674 Of which, relating to: Impaired assets 14,271 13,707 Other assets 9,084 9,967 Of which: Individually calculated 2,858 2,719 Collectively calculated 20,497 20,955 Following is the movement of the loan loss provision broken down by impairment stage of loans and advances to customers recognised under 'Financial assets at amortised cost' as at 30 June 2023 and 30 June 2022: EUR million 30-06-2023 Stage 1 Stage 2 Stage 3 Total Impairment allowance as at beginning of period 3,611 5,124 13,931 22,666 Transfers between stages (454) 355 3,767 3,668 Variation due to credit risk 605 (377) 2,891 3,119 Write-offs — — (6,801) (6,801) Exchange differences and other 88 97 249 434 Carrying amount at end of period 3,850 5,199 14,037 23,086 EUR million 30-06-2022 Stage 1 Stage 2 Stage 3 Total Impairment allowance as at beginning of period 4,182 5,224 13,546 22,952 Transfers between stages (455) 381 2,618 2,544 Variation due to credit risk 473 (447) 2,695 2,721 Write-offs — — (5,682) (5,682) Exchange differences and other 249 324 332 905 Carrying amount at end of period 4,449 5,482 13,509 23,440 |
Disclosure of reconciliation of financial assets classified at amortised cost | The movement during the first six months ended 30 June 2023 and 2022, in the balance of financial assets classified at amortised cost and considered impaired by reason for the credit risk is as follows: EUR million 30-06-2023 30-06-2022 Balance as at beginning of period 33,269 31,848 Net additions 6,480 5,710 Written-off assets (6,831) (5,682) Perimeter Changes (45) — Exchange differences and other 773 850 Balance at end of period 33,646 32,726 |
Schedule of guarantees received for financial assets | Following is the breakdown of the value of the guarantees received to ensure the collection of the financial assets that comprise the heading of financial assets at amortized cost, distinguishing between real guarantees and other guarantees at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Real guarantees value 632,794 627,337 Of which: Impaired 12,028 11,846 Other guarantees value 93,967 96,645 Of which: Impaired 2,227 2,029 Total value of the guarantees received 726,761 723,982 |
Schedule of financial assets measured at other than fair value | Following is a comparison of the carrying amounts of Grupo Santander’s financial assets measured at other than fair value and their respective fair values at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Carrying amount Fair value Carrying amount Fair value Loans and advances 1,088,743 1,067,336 1,073,490 1,053,703 Debt instruments 91,559 89,085 73,554 70,373 ASSETS 1,180,302 1,156,421 1,147,044 1,124,076 |
Non-current assets held for s_2
Non-current assets held for sale (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Schedule of non-current assets classified as held for sale | The detail, by nature, of Grupo Santander’s non-current assets held for sale at 30 June 2023 and 31 December 2022 is as follows presented by nature: EUR million 30-06-2023 31-12-2022 Tangible assets 3,125 3,435 Of which: Foreclosed assets 2,912 3,101 Of which: Property assets in Spain 2,335 2,596 Other tangible assets held for sale 213 334 Other assets 26 18 3,151 3,453 |
Intangible assets (Tables)
Intangible assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Intangible assets and goodwill [abstract] | |
Schedule of goodwill based on cash-generating units | The detail of Intangible Assets - Goodwill at 30 June 2023 and 31 December 2022, based on the cash-generating units giving rise thereto, is as follows: EUR million 30-06-2023 31-12-2022 Banco Santander (Brazil) 3,756 3,503 SAM Investment Holdings Limited 1,444 1,444 Santander Consumer Germany 1,304 1,304 Santander Bank Polska 1,135 1,075 Santander Portugal 1,040 1,040 Santander US Auto 1,016 1,039 Santander España 998 998 Santander Holding USA (ex. Auto) 824 844 Santander UK 619 599 Banco Santander - Chile 570 548 Grupo Financiero Santander (Mexico) 522 469 Ebury Partners 308 298 Santander Consumer Nordics 199 215 Other entities 391 365 Total Goodwill 14,126 13,741 |
Financial liabilities (Tables)
Financial liabilities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of financial liabilities [abstract] | |
Schedule of components of financial liabilities other than hedging derivatives | The following is a breakdown of Grupo Santander's financial liabilities, other than the balances corresponding to the Derivatives - hedge accounting heading, as of 30 June 2023 and 31 December 2022, presented by nature and categories for valuation purposes: EUR million 30-06-2023 31-12-2022 Financial Financial Financial Financial Financial Financial Derivatives 62,259 64,891 Short Positions 22,352 22,515 Deposits 50,277 30,536 1,115,908 27,779 34,841 1,111,887 Central banks 16,216 829 58,644 5,757 1,740 76,952 Credit institutions 14,140 2,410 90,704 9,796 1,958 68,582 Customer 19,921 27,297 966,560 12,226 31,143 966,353 Debt instruments — 5,684 285,869 — 5,427 274,912 Other financial liabilities — — 45,105 — — 37,059 Total 134,888 36,220 1,446,882 115,185 40,268 1,423,858 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b) |
Disclosure of composition and reconciliation of debt instruments | The detail of the balance of debt instruments issued according to their nature is: EUR million 30-06-2023 31-12-2022 Bonds and debentures outstanding 217,735 211,597 Subordinated 26,864 25,717 Promissory notes and other securities 46,954 43,025 Total debt instruments issued 291,553 280,339 The detail, at 30 June 2023 and 2022, of the outstanding balance of the debt instruments, excluding promissory notes, which at these dates had been issued by Banco Santander or any other Group entity is disclosed below. Also included is the detail of the changes in this balance in the first six months of 2023 and 2022: EUR million 30-06-2023 Opening Perimeter Issuances or placements Repurchases or Exchange Closing Bonds and debentures outstanding 211,597 (1,467) 34,438 (28,534) 1,701 217,735 Subordinated 25,717 — 1,500 (36) (317) 26,864 Bonds and debentures outstanding and subordinated liabilities issued 237,314 (1,467) 35,938 (28,570) 1,384 244,599 EUR million 30-06-2022 Opening Perimeter Issuances or placements Repurchases or Exchange Closing Bonds and debentures outstanding 194,362 — 33,800 (27,376) 3,837 204,623 Subordinated 25,938 — 113 (853) 635 25,833 Bonds and debentures outstanding and subordinated liabilities issued 220,300 — 33,913 (28,229) 4,472 230,456 |
Schedule of financial liabilities measured at other than fair value | Following is a comparison between the value by which Grupo Santander’s financial liabilities are recorded that are measured using criteria other than fair value and their corresponding fair value at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Carrying amount Fair value Carrying amount Fair value Deposits 1,115,908 1,114,308 1,111,887 1,108,918 Debt instruments 285,869 276,186 274,912 263,191 Liabilities 1,401,777 1,390,494 1,386,799 1,372,109 |
Provisions (Tables)
Provisions (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Provisions [abstract] | |
Schedule of other provisions by type of provision | Set forth below is the detail, by type of provision, of the balances at 30 June 2023 and at 31 December 2022 of Provisions for taxes and other legal contingencies and Other provisions. The types of provision were determined by grouping together items of a similar nature: EUR million 30-06-2023 31-12-2022 Provisions for taxes 741 679 Provisions for employment-related proceedings (Brazil) 475 301 Provisions for other legal proceedings 1,342 1,094 Provision for customer remediation 385 349 Provision for restructuring 659 641 Other 888 1,009 4,490 4,073 |
Equity (Tables)
Equity (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Equity [abstract] | |
Schedule of other comprehensive income components | Breakdown of other comprehensive income - Items not reclassified to profit or loss and Items that may be reclassified to profit or loss EUR million 30-06-2023 31-12-2022 Other comprehensive income accumulated (33,789) (35,628) Items not reclassified to profit or loss (4,956) (4,635) Actuarial gains or losses on defined benefit pension plans (4,036) (3,945) Non-current assets held for sale — — Share in other income and expenses recognised in investments, joint ventures and associates 3 10 Other valuation adjustments — — Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income (859) (672) Inefficacy of fair value hedges of equity instruments measured at fair value with changes — — Changes in the fair value of equity instruments measured at fair value with changes 252 293 Changes in the fair value of equity instruments measured at fair value with changes (252) (293) Changes in the fair value of financial liabilities measured at fair value through profit or loss (64) (28) Items that may be reclassified to profit or loss (28,833) (30,993) Hedge of net investments in foreign operations (effective portion) (8,322) (6,750) Exchange differences (17,580) (20,420) Hedging derivatives (effective portion) (2,118) (2,437) Changes in the fair value of debt instruments measured at fair value with changes in other comprehensive income (563) (1,002) Hedging instruments (items not designated) — — Non-current assets held for sale — — Share in other income and expenses recognised in investments, joint ventures and associates (250) (384) |
Schedule of changes in fair value of equity instruments that will not be reclassified | Below is a breakdown of the composition of the balance as of 30 June 2023 and 31 December 2022 under 'Other comprehensive income - Items not reclassified to profit or loss - Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income' depending on the geographical origin of the issuer: EUR million 30-06-2023 31-12-2022 Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Equity instruments Domestic Spain 31 (1,172) (1,141) 251 30 (926) (896) 500 International Rest of Europe 110 (67) 43 271 84 (60) 24 225 United States 18 — 18 24 15 — 15 29 Latin America and rest 309 (88) 221 1,183 244 (59) 185 1,187 468 (1,327) (859) 1,729 373 (1,045) (672) 1,941 Of which: Listed 311 (138) 173 1,191 246 (113) 133 1,200 Unlisted 157 (1,189) (1,032) 538 127 (932) (805) 741 |
Schedule of other comprehensive income, that may be reclassified to profit or loss, by type of instrument and geographical origin of the issuer | Below is a breakdown of the composition of the balance as of 30 June 2023 and 31 December 2022 under Other comprehensive income - Items that may be reclassified to profit or loss - Changes in the fair value of debt instruments measured at fair value through other comprehensive income depending on the type of instrument and the geographical origin of the issuer: EUR million 30-06-2023 31-12-2022 Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Revaluation gains Revaluation losses Net revaluation gains/(losses) Fair value Debt instruments Issued by public Public-sector Spain 110 (1) 109 9,544 26 (1) 25 9,312 Rest of Europe 355 (140) 215 18,607 268 (199) 69 17,593 Latin America and rest of the world 177 (843) (666) 40,351 196 (937) (741) 40,873 Issued by Private-sector Spain 82 (3) 79 6,277 — (24) (24) 5,727 Rest of Europe 12 (56) (44) 5,157 11 (68) (57) 5,203 Latin America and rest of the world 27 (283) (256) 5,091 16 (290) (274) 4,590 763 (1,326) (563) 85,027 517 (1,519) (1,002) 83,298 |
Segment information (Primary _2
Segment information (Primary segment) (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of operating segments [abstract] | |
Disclosure of reconciliation between adjusted profit and statutory profit | Following is the reconciliation between the adjusted profit and the statutory profit corresponding to the first six months ended 30 June 2023 and 2022: EUR million Revenue from ordinary activities Profit before taxes Profit Segment 30-06-2023 30-06-2022 30-06-2023 30-06-2022 30-06-2023 30-06-2022 Europe 19,391 13,649 3,888 2,693 2,536 1,839 North America 13,966 8,154 1,739 2,061 1,346 1,578 South America 20,461 17,613 2,376 3,165 1,458 1,946 Digital Consumer Bank 4,761 3,395 928 1,010 521 572 Corporate Centre 1,121 173 (602) (1,014) (620) (1,041) Underlying Profit 59,700 42,984 8,329 7,915 5,241 4,894 Adjustments — — (239) — — — Statutory Profit 59,700 42,984 8,090 7,915 5,241 4,894 |
Related parties (Tables)
Related parties (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Schedule of related party transactions | Related party transactions were made on terms equivalent to those that prevail in arm’s-length transactions or, when this was not the case, the related compensation in kind was recognised: EUR million 30-06-2023 Expenses and income Significant shareholders Directors and executives Group companies or entities Other related parties Total Expenses Finance costs — — 79 — 79 Leases — — — — — Services received — — — — — Purchases of stocks — — — — — Other expenses — — 57 — 57 — — 136 — 136 Income Finance income — — 188 3 191 Dividends received — — — — — Services rendered — — — — — Sale of stocks — — — — — Other income — — 709 1 710 — — 897 4 901 EUR million 30-06-2023 Other transactions Significant shareholders Directors and executives Group companies or entities Other related parties Total Financing agreements: loans and capital contributions (lender) — 2 376 (199) 179 Financing agreements: loans and capital contributions (borrower) — — (29) 7 (22) Guarantees provided — — — 680 680 Guarantees received — — — — — Commitments acquired — — 51 3 54 Dividends and other distributed profit — 1 — 10 11 Other transactions — — 36 — 36 EUR million 30-06-2023 Balance closing period Significant shareholders Directors and executives Group companies or entities Other related parties Total Debt balances: Customers and commercial debtors — — — — — Loans and credits granted — 13 9,687 256 9,956 Other collection rights — — 969 — 969 — 13 10,656 256 10,925 Credit balances: Suppliers and creditors granted — — — — — Loans and credits received — 21 3,210 115 3,346 Other payment obligations — — 358 — 358 — 21 3,568 115 3,704 EUR million 30-06-2022 Expenses and income Significant shareholders Directors and executives Group companies or entities Other related parties Total Expenses Finance costs — — 16 — 16 Leases — — — — — Services received — — — — — Purchases of stocks — — — — — Other expenses — — 197 — 197 — — 213 — 213 Income Finance income — — 71 — 71 Dividends received — — — — — Services rendered — — — — — Sale of stocks — — — — — Other income — — 683 1 684 — — 754 1 755 EUR million 30-06-2022 Other transactions Significant shareholders Directors and executives Group companies or entities Other related parties Total Financing agreements: loans and capital contributions (lender) — — 715 26 741 Financing agreements: loans and capital contributions (borrower) — 9 362 40 411 Guarantees provided — — — — — Guarantees received — — — — — Commitments acquired — — (12) (2) (14) Dividends and other distributed profit — 1 — 9 10 Other transactions — — (106) — (106) EUR million 31-12-2022 Balance closing period Significant shareholders Directors and executives Group companies or entities Other related parties Total Debt balances: Customers and commercial debtors — — — — — Loans and credits granted — 13 9,311 455 9,779 Other collection rights — — 946 — 946 — 13 10,257 455 10,725 Credit balances: Suppliers and creditors granted — — — — — Loans and credits received — 22 3,239 109 3,370 Other payment obligations — — 372 — 372 — 22 3,611 109 3,742 |
Off-balance-sheet exposures (Ta
Off-balance-sheet exposures (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Off-Balance-Sheet Exposures | |
Schedule of contingent commitments | EUR million 30-06-2023 31-12-2022 Loan commitments granted 283,903 274,075 Of which impaired 509 653 Financial guarantees granted 14,401 12,856 Of which impaired 538 521 Bank sureties 14,355 12,813 Credit derivatives sold 46 43 Other commitments granted 113,266 92,672 Of which impaired 607 608 Other granted guarantees 53,651 50,508 Other 59,615 42,164 |
Average headcount and number _2
Average headcount and number of branches (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Average Headcount And Number Of Branches | |
Schedule of average number of employees | The average number of employees at Banco Santander and Grupo Santander, by gender, in the first six months ended 30 June 2023 and 2022 is as follows: Average headcount Bank Group 30-06-2023 30-06-2022 30-06-2023 30-06-2022 Men 12,260 11,867 97,353 90,747 Women 11,732 11,355 112,663 109,055 23,992 23,222 210,016 199,802 |
Schedule of number of branches | The number of branches at 30 June 2023 and 31 December 2022 is as follow: Number of branches Group 30-06-2023 31-12-2022 Spain 1,936 1,966 Group 6,887 7,053 8,823 9,019 |
Other disclosures (Tables)
Other disclosures (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other Disclosures | |
Summary of fair values of financial assets and liabilities | The following table shows a summary of the fair values, at 30 June 2023 and 31 December 2022, of the financial assets and liabilities indicated below, classified on the basis of the various measurement methods used by Grupo Santander to determine their fair value: EUR million 30-06-2023 31-12-2022 Published price quotations in active markets (Level 1) Internal models (Levels 2 and 3) Total Published price quotations in active markets (Level 1) Internal models (Levels 2 and 3) Total Financial assets held for trading 61,089 122,745 183,834 45,014 111,104 156,118 Non-trading financial assets mandatorily at fair value through profit or loss 1,738 4,058 5,796 1,800 3,913 5,713 Financial assets at fair value through profit and loss 2,491 7,154 9,645 1,976 7,013 8,989 Financial assets at fair value through other comprehensive income 65,596 21,160 86,756 64,216 21,023 85,239 Hedging derivatives (assets) — 7,532 7,532 — 8,069 8,069 Financial liabilities held for trading 15,195 119,693 134,888 16,237 98,948 115,185 Financial liabilities designated at fair value through profit or loss (*) 147 36,073 36,220 212 40,056 40,268 Hedging derivatives (liabilities) — 10,288 10,288 — 9,228 9,228 Liabilities under insurance contracts (*) — 17,584 17,584 — 16,426 16,426 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). |
Schedule of financial instruments at fair value whose measurement was based on internal models (Levels 2 and 3) | Set forth below are the financial instruments at fair value whose measurement was based on internal models (levels 2 and 3) at 30 June 2023 and 31 December 2022: EUR million EUR million Fair values calculated using internal models at 30-06-2023 (*) Fair values calculated using internal models at 31-12-2022 (*) Level 2 Level 3 Level 2 Level 3 Valuation techniques Main inputs ASSETS 152,661 9,988 142,832 8,290 Financial assets held for trading 121,705 1,040 110,721 383 Central banks (**) 12,405 — 11,595 — Present value method Yield curves, FX market prices Credit institutions (**) 23,592 — 16,502 — Present value method Yield curves, FX market prices Customers (**) 10,906 145 9,550 — Present value method Yield curves, FX market prices Debt instruments and equity instruments 7,804 414 6,537 43 Present value method Yield curves, FX market prices Derivatives 66,998 481 66,537 340 Swaps 52,475 217 54,367 139 Present value method, Gaussian Copula Yield curves, FX market prices, HPI, Basis, Liquidity Exchange rate options 1,229 3 916 4 Black-Scholes Model Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate options 4,083 29 2,681 39 Black's Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate futures 29 — 113 — Present value method Yield curves, FX market prices Index and securities options 339 85 354 48 Black’s Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Liquidity Other 8,843 147 8,106 110 Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX and EQ market prices, Dividends, Liquidity, Dividends, Correlation, HPI, Credit, Others Hedging derivatives 7,531 1 8,069 — Swaps 6,828 1 6,687 — Present value method Yield curves, FX market prices, Basis Interest rate options 2 — 2 — Black Model Yield curves, FX market prices, Volatility surfaces Other 701 — 1,380 — Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX market prices, Credit, Liquidity, Others Non-trading financial assets mandatorily at fair value through profit or loss 2,146 1,912 2,080 1,833 Equity instruments 970 1,347 643 1,269 Present value method Yield curves, Market price, Dividends and Others Debt instruments 551 337 809 325 Present value method Yield curves Loans and receivables 625 228 628 239 Present value method, swap asset model and CDS Yield curves and Credit curves Financial assets designated at fair value through profit or loss 6,737 417 6,586 427 Credit institutions 626 — 673 — Present value method Yield curves, FX market prices Customers (***) 5,925 5 5,769 5 Present value method Yield curves, FX market prices, HPI Debt instruments 186 412 144 422 Present value method Yield curves, FX market prices Financial assets at fair value through other comprehensive income 14,542 6,618 15,376 5,647 Equity instruments 11 496 9 700 Present value method Yield curves,Market price, Dividends and Others Debt instruments 11,373 263 11,869 229 Present value method Yield curves, FX market prices Loans and receivables 3,158 5,859 3,498 4,718 Present value method Yield curves, FX market prices and Credit curves LIABILITIES 182,818 820 163,733 925 Financial liabilities held for trading 119,291 402 98,533 415 Central banks (**) 16,216 — 5,759 — Present value method FX market prices, Yield curves Credit institutions (**) 14,140 — 9,796 — Present value method FX market prices, Yield curves Customers 19,921 — 12,226 — Present value method FX market prices, Yield curves Derivatives 61,567 402 64,147 415 Swaps 47,317 133 51,191 235 Present value method, Gaussian Copula Yield curves, FX market prices, Basis, Liquidity, HPI Exchange rate options 1,182 — 769 — Black Model, multifactorial advanced models interest rate Yield curves, Volatility surfaces, FX market prices, Liquidity Interest rate options 4,524 22 3,268 19 Black-Scholes Model Yield curves, Volatility surfaces, FX market prices Index and securities options 599 63 591 42 Black-Scholes Model Yield curves, FX market prices, Liquidity Interest rate and equity futures 32 — 807 — Present value method Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Correlation, Liquidity, HPI Other 7,913 184 7,521 119 Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX & EQ market prices, Dividends, Correlation, HPI, Credit, Others Short positions 7,447 — 6,605 — Present value method Yield curves ,FX market prices, Equity Hedging derivatives 10,235 53 9,214 14 Swaps 8,598 53 8,142 14 Present value method Yield curves ,FX market prices, Basis Other 1,637 — 1,072 — Present value method, Advanced stochastic volatility models and others Yield curves, Volatility surfaces, FX market prices, Credit, Liquidity and others Financial liabilities designated at fair value through profit or loss (****) 36,073 — 39,905 151 Present value method Yield curves, FX market prices Liabilities under insurance contracts (****) 17,219 365 16,081 345 Present Value Method with actuarial techniques Mortality tables and yield curves (*) The internal models of level 2 implement figures based on the parameters observed in the market, while level 3 internal models uses significant inputs that are not observable in market data. (**) Includes mainly short-term loans/deposits and repurchase/reverse repurchase agreements with corporate customers (mainly brokerage and investment companies). (***) Includes mainly structured loans to corporate clients. (****) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). |
Schedule of effect on fair value of financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation | The table below shows the effect, at 30 June 2023 and 31 December 2022, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by applying the probable valuation ranges of the main unobservable inputs detailed in the following table: 30-06-2023 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Financial assets held for trading Loans and advances to customers Repos/Reverse repos Others Long-term repo spread n.a. n.a. (0.04) 0.00 Debt securities Corporate debt Discounted Cash Flows Credit spread 0% - 10% 5.04% (1.51) 1.54 Corporate debt Price based Market price 85% - 115% 100.00% 0.00 0.00 Government debt Discounted Cash Flows Discount curve 0% - 8% 3.93% (8.25) 7.97 Derivatives CCS Discounted Cash Flows Interest rate (1.4)% - 1.4% 0.00% 0.00 0.00 CCS Forward estimation Interest rate (6)bp - 6bp 2.32bp (0.04) 0.07 EQ Options EQ option pricing model Volatility 0% - 90% 61.30% (0.38) 0.84 EQ Options Local volatility Volatility 10% - 90% 50.00% (1.91) 1.91 FRAs Asset Swap model Interest rate 0% - 6% 2.71% (0.94) 0.78 Inflation Derivatives Asset Swap model Inflation Swap Rate 0% - 10% 3.41% (0.29) 0.15 IR Options IR option pricing model Volatility 0% - 60% 35.82% (0.26) 0.38 IRS Asset Swap model Interest rate 0% - 15% 9.20% (0.05) 0.08 IRS Discounted Cash Flows Credit spread 1.1% - 5.8% 3.67% (1.80) 1.95 IRS Discounted Cash Flows Swap rate 8.2% - 8.7% 8.44% (0.54) 0.53 IRS Forward estimation Interest rate (6)bp - 6bp 0.12bp (0.04) 0.05 IRS Others Others 5% - n.a n.a (0.69) 0.28 IRS Prepayment modelling Prepayment rate 3.1% - 5.7% 4.33% 0.00 0.16 Others Forward estimation Price 0% - 2% 0.62% (0.46) 0.20 Property derivatives Option pricing model Growth rate (5)% - 5% 0.00% (4.08) 4.08 Financial assets designated at fair value through profit or loss Loans and advances to customers Loans Discounted Cash Flows Credit spreads 0.1% - 2% 1.05% (0.15) 0.15 Mortgage portfolio Black Scholes model Growth rate (5)% - 5% 0.00% (0.47) 0.47 Repos/Reverse repos Others Repo curve 4.8bp - 6.7bp 5.63bp 0.00 0.00 30-06-2023 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Debt securities Other debt securities Others Inflation Swap Rate 0% - 8% 3.88% (4.51) 4.24 Non-trading financial assets mandatorily at fair value through profit or loss Debt securities Property securities Probability weighting Growth rate 5% - 5% 0% (0.47) 0.47 Equity instruments Equities Price Based Price 90% - 110% 100% (134.66) 134.66 Financial assets at fair value through other comprehensive income Loans and advances to customers Loans Discounted Cash Flows Credit spread n.a n.a (22.17) 0.00 Loans Discounted Cash Flows Interest rate curve 8% - 9% 8.60% (0.86) 0.86 Loans Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (22.80) 22.80 Loans Forward estimation Credit spread 1.68% - 2.7% 1.68% (0.68) 0.00 Debt securities Corporate debt Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (0.52) 0.52 Government debt Discounted Cash Flows Interest rate (1.9)% - 0.1% (0.87)% (0.01) 0.01 Equity instruments Equities Price Based Price 90% - 110% 100.00% (49.63) 49.63 Financial liabilities held for trading Derivatives Cap&Floor Volatility option model Volatility 10% - 90% 32.37% (0.77) 0.30 31-12-2022 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Financial assets held for trading Debt securities Corporate debt Discounted Cash Flows Credit spread 0% - 20% 10.07% (1.38) 1.40 Corporate debt Price based Market price 85% - 115% 100.00% — — Government debt Discounted Cash Flows Discount curve 0% - 10% 4.92% (8.34) 8.07 Derivatives CCS Discounted Cash Flows Interest rate (0.70)% - 0.70% 0.00% — — CCS Forward estimation Interest rate (4)bp - 4bp 0.42bp (0.06) 0.07 CDS Discounted Cash flows Credit Spread 14.90bp - 42.10bp 21.99bp (0.05) 0.02 EQ Options EQ option pricing model Volatility 0% - 90% 61.30% (0.23) 0.48 EQ Options Local volatility Volatility 10% - 90% 50.00% (1.05) 1.05 FRAs Asset Swap model Interest rate 0% - 6% 2.71% (1.16) 0.95 Fx Swap Others Others n.a. n.a (1.37) 1.37 Inflation Derivatives Asset Swap model Inflation Swap Rate 0% - 10% 3.41% (0.21) 0.11 Inflation Derivatives Volatility option model Volatility 0% - 40% 17.37% (0.14) 0.11 IR Options IR option pricing model Volatility 0% - 60% 35.82% (0.30) 0.44 IRS Asset Swap model Interest rate 0% - 15% 9.20% (0.05) 0.08 IRS Discounted Cash Flows Credit spread 1.25% - 6.29% 3.89% (2.25) 2.47 IRS Discounted Cash Flows Swap rate 8.6% - 9.1% 8.84% (0.02) 0.03 IRS Forward estimation Interest rate (6)pb - 6pb 0.13bp (0.04) 0.04 IRS Others Others 5% - n.a n.a (11.58) — IRS Prepayment modelling Prepayment rate 2.5% - 6.2% 4.17% (0.06) 0.05 Others Forward estimation Price 0% - 2% 0.62% (0.53) 0.24 Property derivatives Option pricing model Growth rate (5)% - 5% 0.00% (5.75) 5.75 Financial assets designated at fair value through profit or loss Loans and advances to customers Loans Discounted Cash Flows Credit spreads 0.1% - 2% 1.05% (0.18) 0.18 Mortgage portfolio Black Scholes model Growth rate (5)% - 5% 0.00% (0.79) 0.79 31-12-2022 Portfolio/Instrument Valuation technique Main unobservable inputs Range Weighted average Impacts (EUR million) (Level 3) Unfavourable scenario Favourable scenario Debt securities Other debt securities Others Inflation Swap Rate 0% - 10% 4.74% (4.25) 3.83 Non-trading financial assets mandatorily at fair value through profit or loss Debt securities Corporate debt Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0.01bp (0.33) 0.33 Corporate debt Probability weighting Growth rate (5)% - 5% 0.00% (0.68) 0.68 Equity instruments Equities Price Based Price 90% - 110% 100.00% (126.87) 126.87 Financial assets at fair value through other comprehensive income Loans and advances to customers Loans Discounted Cash Flows Credit spread n.a. n.a (24.10) — Loans Discounted Cash Flows Interest rate curve 0.8% - 1.0% 0.88% (0.08) 0.08 Loans Discounted Cash Flows Margin of a reference portfolio (1)bp - 1bp 0bp (17.51) 17.51 Loans Forward estimation Credit spread 2.56% - 3.40% 2.56% (0.49) — Debt securities Government debt Discounted Cash Flows Interest rate (0.4)% - 1.6% 0.63% (0.01) 0.01 Equity instruments Equities Price Based Price 90% - 110% 100.00% (70.04) 70.04 Financial liabilities held for trading Derivatives Cap&Floor Volatility option model Volatility 10% - 90% 40.73% (0.29) 0.18 Financial liabilities designated at fair value through profit or loss Loans and advances to customers Repos/Reverse repos Others Long-term repo spread n.a. n.a. (0.13) — |
Schedule of changes in financial instruments classified as Level 3 | Lastly, the changes in the financial instruments classified as level 3 in the first six months of 2023 and 2022 were as follows: 01-01-2023 Changes 30-06-2023 EUR million Fair value calculated using internal models (Level 3) Purchases/Settlements Sales/Amortisation Changes in fair value recognized in profit or loss Changes in fair value recognised in equity Level reclassifications Other Fair value calculated using internal models (Level 3) Financial assets held for trading 383 198 (72) 77 — 303 151 1,040 Customers — — — (1) — — 146 145 Debt instruments 42 52 (4) 1 — 316 6 413 Equity instruments 1 — — — — — — 1 Trading derivatives 340 146 (68) 77 — (13) (1) 481 Swaps 139 — (3) 93 — — (12) 217 Exchange rate options 4 — — (1) — — — 3 Interest rate options 39 — — (10) — — — 29 Index and securities options 48 52 — 3 — (23) 5 85 Other 110 94 (65) (8) — 10 6 147 Hedging derivatives (Assets) — — — — — 1 — 1 Swaps — — — — — 1 — 1 Financial assets designated at fair value through profit or loss 427 — — (40) — — 30 417 Loans and advances to customers 5 — — — — — — 5 Debt instruments 422 — — (40) — — 30 412 Non-trading financial assets mandatorily at fair value through profit or loss 1,833 163 (116) 48 — — (16) 1,912 Loans and advances to customers 239 59 (63) (16) — — 9 228 Debt instruments 325 32 (25) 3 — — 2 337 Equity instruments 1,269 72 (28) 61 — — (27) 1,347 Financial assets at fair value through other comprehensive income 5,647 4,197 (3,595) — (222) 505 86 6,618 Loans and advances to customers 4,718 4,196 (3,590) — 23 473 39 5,859 Debt instruments 229 — (3) — (1) 32 6 263 Equity instruments 700 1 (2) — (244) — 41 496 TOTAL ASSETS 8,290 4,558 (3,783) 85 (222) 809 251 9,988 Financial liabilities held for trading 415 304 (101) (91) — (118) (7) 402 Trading derivatives 415 304 (101) (91) — (118) (7) 402 Swaps 235 104 (70) (25) — (97) (14) 133 Exchange rate options — 24 (24) — — — — — Interest rate options 19 7 (1) (3) — — — 22 Index and securities options 42 38 (6) 3 — (21) 7 63 Others 119 131 — (66) — — — 184 Hedging derivatives (Liabilities) 14 — — 3 — 36 — 53 Swaps 14 — — 3 — 36 — 53 Financial liabilities designated at fair value through profit or loss (*) 151 — (5) 1 — — (147) — Liabilities covered by insurance and reinsurance contracts (*) 345 — — (6) — — 26 365 TOTAL LIABILITIES 925 304 (106) (93) — (82) (128) 820 (*) See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). 01-01-2022 Changes 30-06-2022 EUR million Fair value calculated using internal models (Level 3) Purchases/Settlements Sales/Amortisation Changes in fair value recognized in profit or loss Changes in fair value recognised in equity Level reclassifications Other Fair value calculated using internal models (Level 3) Financial assets held for trading 537 29 (9) (52) — (2) 14 517 Debt instruments 22 — — 1 — — 5 28 Equity instruments 2 — — (1) — — — 1 Trading derivatives 513 29 (9) (52) — (2) 9 488 Swaps 224 — — 5 — — (13) 216 Exchange rate options 12 — (9) 11 — — (1) 13 Interest rate options 182 — — (98) — (1) — 83 Index and securities options 41 — — 1 — — (40) 2 Other 54 29 — 29 — (1) 63 174 Financial assets designated at fair value through profit or loss 418 — (3) 4 — — 75 494 Credit institutions — — — — — — — — Loans and advances to customers 18 — (3) (2) — — — 13 Debt instruments 400 — — 6 — — 75 481 Non-trading financial assets mandatorily at fair value through profit or loss 1,865 112 (218) 110 — (29) 105 1,945 Loans and advances to customers 268 20 (67) 40 — — 58 319 Debt instruments 366 — (25) (3) — (29) 2 311 Equity instruments 1,231 92 (126) 73 — — 45 1,315 Financial assets at fair value through other comprehensive income 4,847 4,962 (5,187) — (191) 205 69 4,705 Loans and advances to customers 3,880 4,960 (5,177) — (17) 137 5 3,788 Debt instruments 146 — (1) — 9 — 63 217 Equity instruments 821 2 (9) — (183) 68 1 700 TOTAL ASSETS 7,667 5,103 (5,417) 62 (191) 174 263 7,661 Financial liabilities held for trading 160 84 (61) 42 — (14) — 211 Trading derivatives 160 84 (61) 42 — (14) — 211 Swaps 44 15 (5) 80 — — (13) 121 Exchange rate options 7 6 (14) 1 — — — — Interest rate options 26 42 (20) (16) — — — 32 Index and securities options 67 — (2) — — — (65) — Interest rate and equity futures — — — — — — — — Others 16 21 (20) (23) — (14) 78 58 Financial liabilities designated at fair value through profit or loss (*) 151 — (2) 1 — — — 150 Liabilities covered by insurance and reinsurance contracts (*) 318 — (97) — — — 48 269 TOTAL LIABILITIES 629 84 (160) 43 — (14) 48 630 |
Disclosure of quantitative data about entity's exposure to risk | 30-06-2023 Total Of which: impaired Without real guarantee With real guarantee Without real guarantee With real guarantee Maximum amount of the actual collateral that can be considered Maximum amount of the actual collateral that can be considered Amounts in million euros, except number of transactions in units Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Credit entities — — — — — — — — — — — — — — Public sector 10,578 364 36 5 2 — 3 9 3 9 — — — 3 Other financial institutions and: individual shareholder 1,197 168 1,034 347 72 129 74 622 69 660 158 19 48 58 Non financial institutions and individual shareholder 304,058 8,550 60,027 7,652 4,377 1,750 3,504 160,329 3,050 39,771 4,260 2,371 861 3,010 Of which: Financing for constructions and property development 16,476 138 2,111 528 421 37 169 9,867 88 1,281 260 194 15 145 Other warehouses 5,782,449 6,877 513,622 9,589 4,807 3,741 4,637 3,098,609 3,020 267,646 4,492 1,887 1,805 3,441 Total 6,098,282 15,959 574,719 17,593 9,258 5,620 8,218 3,259,569 6,142 308,086 8,910 4,277 2,714 6,512 Financing classified as non-current assets and disposable groups of items that have been classified as held for sale — — — — — — — — — — — — — — 31-12-2022 Total Of which: impaired Without real guarantee With real guarantee Without real guarantee With real guarantee Maximum amount of the actual collateral that can be considered Maximum amount of the actual collateral that can be considered Amounts in million euros, except number of transactions in units Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Number of transactions Gross amount Number of operations Gross amount Mortgage guarantee Other guarantees Impairment of accumulated value or accumulated losses in fair value due to credit risk Credit entities — — — — — — — — — — — — — — Public sector 6,679 227 31 7 2 — 6 7 2 13 5 2 — 5 Other financial institutions and: individual shareholder 1,210 321 785 339 88 86 61 641 9 620 135 22 6 55 Non financial institutions and individual shareholder 312,934 9,578 60,003 8,419 4,790 1,834 3,912 174,300 3,178 39,479 4,890 2,741 886 3,439 Of which: Financing for constructions and property development 15,578 125 1,890 570 423 48 208 10,325 78 1,255 335 213 33 188 Other warehouses 5,878,455 5,790 492,232 9,492 4,835 3,502 4,287 3,735,412 2,911 246,751 4,055 1,917 910 3,122 Total 6,199,278 15,916 553,051 18,257 9,715 5,422 8,266 3,910,360 6,100 286,863 9,085 4,682 1,802 6,621 Financing classified as non-current assets and disposable groups of items that have been classified as held for sale — — — — — — — — — — — — — — Home purchase loans granted to families in Spain on 30 June 2023 amounted to EUR 61,606 million (EUR 63,688 million at 31 December 2022). Of which mortgage guarantees are 99.63%: Million euros 30-06-2023 31-12-2022 Gross Amount Of which: impaired Gross Amount Of which: impaired Home purchase loans to families 61,606 987 63,688 1,088 - Without mortgage guarantee 229 14 288 24 - With mortgage guarantee 61,377 973 63,400 1,064 At 30 June 2022 and 31 December 2022 the financing amount related to construction and real estate business in Spain amounted to EUR 2,246 million and EUR 2,283 million net of allowances, respectively. 30-06-2023 Million euros Gross amount Excess of gross exposure over maximum recoverable amount of effective collateral Specific allowance Financing for construction and property development recognised by the Group's credit institutions (including land) (business in Spain) 2,282 209 36 Of which: watchlist/ impaired 75 8 26 Memorandum items: Written-off assets 376 31-12-2022 Million euros Gross amount Excess of gross exposure over maximum recoverable amount of effective collateral Specific allowance Financing for construction and property development recognised by the Group's credit institutions (including land) (business in Spain) 2,327 211 44 Of which: watchlist/ impaired 94 21 33 Memorandum items: Written-off assets 487 30-06-2023 31-12-2022 Million euros Carrying amount Memorandum items: Total loans and advances to customers excluding the public sector (business in Spain) (book value) 243,814 250,702 Total consolidated assets (Total business) (book value) 1,780,493 1,734,659 Impairment losses and provision for exposure classified as normal (business in Spain) 1,247 1,311 The following table shows the breakdown at 30 June 2023 and 31 December 2022 of the foreclosed assets for the Spanish business: 30-06-2023 Million euros Gross carrying amount Valuation Adjustments Of which: Impairment losses since time of the foreclosure Carrying amount Property assets arising from financing provided to construction and property development companies 5,241 2,941 2,162 2,300 Of which: Completed Buildings 1,210 630 522 580 Residential 262 126 102 136 Other 948 504 420 444 Buildings under construction 92 48 36 44 Residential 11 8 5 3 Other 81 40 31 41 Land 3,939 2,263 1,604 1,676 Developed Land 1,245 664 403 581 Other land 2,694 1,599 1,201 1,095 Property assets from home purchase mortgage loans to households 533 229 157 304 Other foreclosed property assets 148 72 56 76 Total property assets 5,922 3,242 2,375 2,680 31-12-2022 Million euros Gross carrying amount Valuation Adjustments Of which: Impairment losses since time of the foreclosure Carrying amount Property assets arising from financing provided to construction and property development companies 5,587 3,097 2,275 2,490 Of which: Completed Buildings 1,456 713 583 743 Residential 341 157 127 184 Other 1,115 556 456 559 Buildings under construction 92 44 32 48 Residential 25 7 4 18 Other 67 37 28 30 Land 4,039 2,340 1,660 1,699 Developed Land 1,286 689 415 597 Other land 2,753 1,651 1,245 1,102 Property assets from home purchase mortgage loans to households 659 274 190 385 Other foreclosed property assets 176 80 61 96 Total property assets 6,422 3,451 2,526 2,971 |
Disclosure of nature and extent of risks arising from financial instruments | Following is the gross exposure of financial assets subject to impairment stages at 30 June 2023 and 31 December 2022: EUR million 30-06-2023 31-12-2022 Gross amount Gross amount Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Financial assets at fair value through other comprehensive income 84,841 160 97 85,098 83,118 184 24 83,326 Debt instruments 76,015 — 6 76,021 75,087 — 6 75,093 Loans and advances 8,826 160 91 9,077 8,031 184 18 8,233 Credit institutions 303 — — 303 — — — — Customers 8,523 160 91 8,774 8,031 184 18 8,233 Financial assets at amortised cost 1,097,848 71,743 33,395 1,202,986 1,070,025 66,588 32,997 1,169,610 Debt instruments 91,254 125 442 91,821 73,297 75 398 73,770 Loans and advances 1,006,594 71,618 32,953 1,111,165 996,728 66,513 32,599 1,095,840 Central Banks 17,871 — — 17,871 15,375 — — 15,375 Credit institutions 52,369 13 — 52,382 46,523 1 — 46,524 Customers 936,354 71,605 32,953 1,040,912 934,830 66,512 32,599 1,033,941 Total 1,182,689 71,903 33,492 1,288,084 1,153,143 66,772 33,021 1,252,936 30-06-2023 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 18,444 20,765 18,512 2,523 1,133 61,377 Of which: impaired 142 193 204 167 267 973 31-12-2022 Gross amount in books on the amount of the last appraisal (loan to value) Million euros Less than or equal to 40% More than 40% or less than 60% More than 60% and less than 80% More than 80% and less or equal to 100% More than 100% Total Gross amount 17,877 20,617 20,225 3,294 1,387 63,400 Of which: impaired 132 192 220 181 339 1,064 At the end 30 June 2023 and 31 December 2022 the concentration of this portfolio was as follows: Loans: gross amount Million euros 30-06-2023 31-12-2022 1. Without mortgage guarantee 36 42 2. With mortgage guarantee 2,246 2,285 2.1 Completed buildings 951 1,138 2.1.1 Residential 528 674 2.1.2 Other 423 464 2.2 Buildings and other constructions under construction 1,273 1,110 2.2.1 Residential 1,216 1,103 2.2.2 Other 57 7 2.3 Land 22 37 2.3.1 Developed consolidated land 14 25 2.3.2 Other land 8 12 Total 2,282 2,327 |
Disclosure of capital ratio | Capital ratio 30-06-2023 31-12-2022 Capital coefficients Level 1 ordinary eligible capital (EUR million) 77,628 74,202 Level 1 additional eligible capital (EUR million) 8,856 8,831 Level 2 eligible capital (EUR million) 14,669 14,359 Risk-weighted assets (EUR million) 631,149 609,266 Level 1 ordinary capital coefficient (CET 1) 12.30 % 12.18 % Level 1 additional capital coefficient (AT1) 1.40 % 1.45 % Level 1 capital coefficient (TIER1) 13.70 % 13.63 % Level 2 capital coefficient (TIER 2) 2.33 % 2.36 % Total capital coefficient 16.03 % 15.99 % |
Disclosure of leverage capital | Leverage 30-06-2023 31-12-2022 Leverage Tier 1 capital (EUR million) 86,485 83,033 Exposure (EIR million) 1,796,203 1,750,626 Leverage ratio 4.81 % 4.74 % |
Additional disclosure require_2
Additional disclosure requirements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Parent Company Financial Statements And Preference Shares And Preferred Securities [Abstract] | |
Condensed Balance Sheets | UNAUDITED CONDENSED BALANCE SHEETS 30 June 2023 31 December 2022 (Parent company only) (Millions of Euros) Assets Cash and due from banks 158,281 177,920 Of which: To bank subsidiaries 7,510 14,548 Trading account assets 104,836 92,128 Investment securities 58,000 47,560 Of which: To bank subsidiaries 16,248 14,287 To non-bank subsidiaries 1,171 1,327 Net Loans and leases 302,561 314,905 Of which: To non-bank subsidiaries 23,473 25,312 Investment in affiliated companies 96,997 94,213 Of which: To bank subsidiaries 73,360 70,698 To non-bank subsidiaries 23,637 23,515 Premises and equipment, net 6,466 6,513 Other assets 14,663 16,787 Total assets 741,804 750,026 Liabilities Deposits 378,537 418,841 Of which: To bank subsidiaries 8,514 16,619 To non-bank subsidiaries 12,995 15,106 Short-term debt 93,116 54,255 Long-term debt 104,059 114,447 Total debt 197,175 168,702 Of which: To bank subsidiaries 88 — To non-bank subsidiaries 2,147 1,638 Other liabilities 94,986 92,437 Total liabilities 670,698 679,980 Stockholders' equity Capital stock 8,092 8,397 Retained earnings and other reserves 63,014 61,649 Total stockholders' equity 71,106 70,046 Total liabilities and Stockholders’ Equity 741,804 750,026 |
Condensed Statements of Income | Following are the summarised unaudited statements of income of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED STATEMENTS OF INCOME Six months ended Six months ended (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) Interest income 13,380 7,004 Interest from earning assets 10,249 4,191 Dividends from affiliated companies 3,131 2,813 Of which: From bank subsidiaries 2,618 2,625 From non-bank subsidiaries 513 188 Interest expense (6,938) (2,068) Interest income / (Charges) 6,442 4,936 Provision for credit losses (755) (818) Interest income / (Charges) after provision for credit losses 5,687 4,118 Non-interest income: 2,397 2,558 Non-interest expense: (4,187) (4,202) Income before income taxes 3,897 2,474 Income tax expense (243) (43) Net income 3,654 2,431 |
Condensed Statements of Comprehensive Income | Following are the summarised unaudited statements of comprehensive income of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED STATEMENTS OF Six months ended Six months ended COMPREHENSIVE INCOME (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) NET INCOME 3,654 2,431 OTHER COMPREHENSIVE INCOME (183) (683) Items that may be reclassified subsequently to profit or loss 104 (551) Hedging instruments (items not designated) — — Revaluation gains (losses) — — Amounts transferred to income statement — — Other reclassifications — — Debt instruments at fair value with changes in other comprehensive income 43 (378) Revaluation gains (losses) 38 (327) Amounts transferred to income statement 5 (52) Other reclassifications — — Cash flow hedges: 133 (408) Revaluation gains/(losses) (24) (394) Amounts transferred to income statement 157 (14) Amounts transferred to initial carrying amount of hedged items — — Other reclassifications — — Hedges of net investments in foreign operations: — — Exchange differences — — Non-current assets held for sale — — Income tax (72) 235 Items that will not be reclassified to profit or loss: (287) (132) Actuarial gains/(losses) on pension plans 12 217 Other recognised income and expense of investments in subsidiaries, joint ventures and associates — — Changes in the fair value of equity instruments measured at fair value through other comprehensive income (275) (344) Gains or losses resulting from the accounting for hedges of equity instruments measured at fair value through other comprehensive income, net — — Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedged item) (41) 37 Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedging instrument) 41 (37) Changes in the fair value of financial liabilities at fair value through profit or loss attributable to changes in credit risk (34) 84 Income tax relating to items that will not be reclassified 10 (89) TOTAL COMPREHENSIVE INCOME 3,471 1,748 |
Condensed Cash Flow Statements | Following are the summarised unaudited cash flow statements of Banco Santander, S.A. for the periods ended 30 June 2023 and 2022. UNAUDITED CONDENSED CASH FLOW STATEMENTS Six months ended Six months ended (Parent company only) 30 June 2023 30 June 2022 (Millions of Euros) 1. Cash flows from operating activities Consolidated profit 3,654 2,431 Adjustments to profit 2,080 (483) Net increase/decrease in operating assets (10,186) (59,337) Net increase/decrease in operating liabilities (14,608) 80,616 Reimbursements/payments of income tax 1,134 (287) Total net cash flows from operating activities (1) (17,926) 22,940 2. Cash flows from investing activities Investments (-) (2,438) (2,072) Divestments (+) 4,099 4,440 Total net cash flows from investment activities (2) 1,661 2,368 3. Cash flows from financing activities Issuance of own equity instruments — — Disposal of own equity instruments 336 202 Acquisition of own equity instruments (1,622) (1,067) Issuance of debt securities 1,500 — Redemption of debt securities (438) (1,203) Dividends paid (963) (869) Issuance/Redemption of equity instruments — — Other collections/payments related to financing activities (87) (158) Total net cash flows from financing activities (3) (1,274) (3,095) 4. Effect of exchange rate changes on cash and cash equivalents (4) (429) 448 5. Net increase/decrease in cash and cash equivalents (1+2+3+4) (17,968) 22,661 Cash and cash equivalents at beginning of period 130,083 91,736 Cash and cash equivalents at end of period 112,115 114,397 |
Schedule of preference shares and preferred securities | The following table shows the balance of the preference shares and preferred securities as of 30 June 2023 and 31 December 2022: 30 June 2023 31 December 2022 (Millions of Euros) Preference shares 205 198 Preferred securities 7,864 7,898 Total at period-end 8,069 8,096 |
Schedule of preference shares and preferred securities by issuer | Outstanding at 30 June 2023 Amount in Preference Shares currency Interest rate Redemption Issuer/Date of issue Currency (million) Option (A) Santander UK plc, October 1995 Pounds Sterling 80.3 10.375 % No option Santander UK plc, February 1996 Pounds Sterling 80.3 10.375 % No option Outstanding at 30 June 2023 Amount in Preferred Securities currency Interest rate Maturity date Issuer/Date of issue Currency (million) Banco Santander, S.A. Banco Santander, S.A., September 2017 Euro 1,000.0 5.25 % (B) Perpetuity Banco Santander, S.A., March 2018 Euro 1,500.0 4.75 % (C) Perpetuity Banco Santander, S.A., February 2019 US Dollar 1,200.0 7.50 % (D) Perpetuity Banco Santander, S.A., January 2020 Euro 1,500.0 4.375 % (E) Perpetuity Banco Santander, S.A., May 2021 US Dollar 1,000.0 4.75 % (F) Perpetuity Banco Santander, S.A., May 2021 Euro 750.0 4.125 % (G) Perpetuity Banco Santander, S.A., September 2021 Euro 1,000.0 3.625 % (H) Perpetuity Santander Finance Preferred, S.A. (Unipersonal), September 2004 Euro 144.0 €CMS 10 +0.05% subject to a maximum distribution of 8% per annum Perpetuity A. From these dates the issuer can redeem the shares, subject to prior authorization by the national supervisor. B. Payment is subject to certain conditions and to the discretion of Banco Santander. The 5.25% interest rate is set for the first six years. After that, it will be reviewed by applying a margin of 499.9 basis points on the 5-year Mid-Swap Rate. C. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.75% interest rate is set for the first seven years. After that, it will be reviewed by applying a margin of 409.7 basis points on the Mid-Swap Rate. D. Payment is subject to certain conditions and to the discretion of Banco Santander. The 7.50% interest rate is set for the first five years. After that, it will be reviewed every 5 years by applying a margin of 498.9 basis points on the Mid-Swap Rate. E. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.375% interest rate is set for the first six years. After that, it will be reviewed every 5 years by applying a margin of 453.4 basis points on the 5-year Mid-Swap Rate. F. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.750% interest rate is set for the first six years, revised every 5 years thereafter by applying a margin of 375.3 basis points over the 5-year UST rate. G. Payment is subject to certain conditions and to the discretion of Banco Santander. The 4.125% interest rate is set for the first seven years, revised every 5 years thereafter by applying a margin of 431.1 basis points over the applicable 5-year Euro mid-swap. H. Payment is subject to certain conditions and to the discretion of Banco Santander. The 3.625% interest rate is set for the first eight years, revised every 5 years thereafter by applying a margin of 376 basis points over the 5-year Mid-Swap Rate. |
Introduction, basis of presen_3
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information - Basis of presentation of the interim financial statements (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | |
Disclosure of initial application of standards or interpretations [line items] | ||||
LIABILITIES UNDER INSURANCE OR REINSURANCE CONTRACTS (*) | [1] | € 17,584 | € 16,426 | |
Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application [member] | ||||
Disclosure of initial application of standards or interpretations [line items] | ||||
LIABILITIES UNDER INSURANCE OR REINSURANCE CONTRACTS (*) | € 16,000 | |||
[1]See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). |
Introduction, basis of presen_4
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information - Comparative information (Details) | 6 Months Ended |
Jun. 30, 2023 | |
Mexico, Pesos | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | 11.15% |
Change in average foreign currency exchange rate (as a percent) | 12.84% |
United States of America, Dollars | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | (2.16%) |
Change in average foreign currency exchange rate (as a percent) | 1.11% |
Brazil, Brazil Real | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | 7.51% |
Change in average foreign currency exchange rate (as a percent) | 0.89% |
United Kingdom, Pounds | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | 3.35% |
Change in average foreign currency exchange rate (as a percent) | (3.86%) |
Chile, Pesos | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | 4.02% |
Change in average foreign currency exchange rate (as a percent) | 3.65% |
Poland, Zlotych | |
Disclosure of initial application of standards or interpretations [line items] | |
Change in foreign currency exchange rate (as a percent) | 5.60% |
Change in average foreign currency exchange rate (as a percent) | 0.25% |
Introduction, basis of presen_5
Introduction, basis of presentation of the interim condensed consolidated financial statements and other information - Other information (Details) € in Millions | Jan. 01, 2023 EUR (€) |
Regulatory Framework Related Provisions | Spain | |
Disclosure of other provisions [line items] | |
Additional provisions charged to income statement | € 224 |
Grupo Santander - Tender offer
Grupo Santander - Tender offer for shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (Details) - Banco Santander Mexico S.A. Institucion De Banca Multiple, Grupo Financiero Santander Mexico € / shares in Units, € in Millions | 2 Months Ended | |||||||
Apr. 10, 2023 EUR (€) | Apr. 09, 2023 | Oct. 21, 2022 | Apr. 10, 2023 EUR (€) | Apr. 10, 2023 $ / shares | Apr. 10, 2023 € / shares | Apr. 10, 2023 $ / shares | Nov. 30, 2022 | |
Disclosure of detailed information about business combination [line items] | ||||||||
Proportion of ownership interests held by non-controlling interests (in percentage) | 3.76% | |||||||
Percentage of voting equity interests acquired | 3.60% | 3.60% | 3.60% | |||||
Proportion of ownership interest in subsidiary (in percentage) | 99.80% | 96.20% | ||||||
Consideration, in cash per share | (per share) | $ 24.52 | € 1.20 | ||||||
Consideration, in cash per American Depositary Share | (per share) | $ 122.6 | $ 6.6876 | ||||||
Consideration paid (received) | € 300 | |||||||
Increase through business combinations, reserves | € 13 | |||||||
Increase (decrease) through business combinations, minority interest | € (313) | |||||||
Business combination, minimum acceptance percentage by shareholders of acquiree | 95% |
Shareholder remuneration syst_3
Shareholder remuneration system and earnings per share - Schedule of shareholder remuneration (Details) - EUR (€) € / shares in Units, € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Earnings per share [abstract] | ||
Dividends paid, ordinary shares, % of par value | 11.90% | 10.30% |
Dividends paid, other shares (without vote, redeemable, etc.), % of par value | 0% | 0% |
Total remuneration paid, % of par value | 11.90% | 10.30% |
Dividends paid out of profit, % of par value | 11.90% | 10.30% |
Dividends paid with a charge to reserves or share premium, % of par value | 0% | 0% |
Dividend in kind, % of par value | 0% | 0% |
Flexible payment, % of par value | 0% | 0% |
Dividend paid, ordinary shares (in euro per share) | € 0.0595 | € 0.0515 |
Dividends paid, other shares (without vote, redeemable, etc.) (in euro per share) | 0 | 0 |
Total remuneration paid (in euro per share) | 0.0595 | 0.0515 |
Dividends paid out of profit (in euro per share) | 0.0595 | 0.0515 |
Dividends paid with a charge to reserves or share premium (in euro per share) | 0 | 0 |
Dividend in kind (in euro per share) | 0 | 0 |
Flexible payment (in euro per share) | € 0 | € 0 |
Ordinary shares | € 963 | € 869 |
Other shares (without vote, redeemable, etc.) | 0 | 0 |
Total remuneration paid | 963 | 869 |
Dividend paid out of profit | 963 | 869 |
Dividend paid with a charge to reserves or share premium | 0 | 0 |
Dividend in kind | 0 | 0 |
Flexible payment | € 0 | € 0 |
Shareholder remuneration syst_4
Shareholder remuneration system and earnings per share - Narrative (Details) - EUR (€) € / shares in Units, € in Millions | 2 Months Ended | |||
May 02, 2023 | May 31, 2022 | May 02, 2022 | May 12, 2023 | |
2022 Program, Second | ||||
Earnings per share [line items] | ||||
Share buyback program, amount | € 921 | |||
2021 Program, Second | ||||
Earnings per share [line items] | ||||
Share buyback program, amount | € 865 | |||
Complementary Dividend | ||||
Earnings per share [line items] | ||||
Dividends recognised as distributions to owners per share (in euro per share) | € 5.95 | € 5.15 |
Shareholder remuneration syst_5
Shareholder remuneration system and earnings per share - Schedule of basic earnings per share (Details) - EUR (€) € / shares in Units, € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Basic earnings per share [abstract] | ||
Profit attributable to the Parent (EUR million) | € 5,241 | € 4,894 |
Remuneration of contingently convertible preferred securities (CCPS) (EUR million) | (229) | (292) |
Net profit for the year | 5,012 | 4,602 |
Profit or Loss from discontinued operations (non controlling interest net) (EUR million) | 0 | 0 |
Profit or Loss from continuing operations (CCPS net) (EUR million) | € 5,012 | € 4,602 |
Weighted average number of shares outstanding (in shares) | 16,279,041,269 | 16,947,764,566 |
Basic earnings per share (in euro per share) | € 0.31 | € 0.27 |
Basic earnings per share from discontinued operations (in euro per share) | 0 | 0 |
Basic earnings per share from continuing operations (in euro per share) | € 0.31 | € 0.27 |
Shareholder remuneration syst_6
Shareholder remuneration system and earnings per share - Schedule of diluted earnings per share (Details) - EUR (€) € / shares in Units, € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Diluted earnings per share [abstract] | ||
Profit attributable to the Parent (EUR million) | € 5,241 | € 4,894 |
Remuneration of contingently convertible preferred securities (CCPS) (EUR million) | (229) | (292) |
Net profit for the year | 5,012 | 4,602 |
Profit or Loss from discontinued operations (non controlling interest net) (EUR million) | 0 | 0 |
Profit or Loss from continuing operations (CCPS net) (EUR million) | € 5,012 | € 4,602 |
Weighted average number of shares outstanding (in shares) | 16,279,041,269 | 16,947,764,566 |
Dilutive effect of options/receipt of shares (in shares) | 67,704,709 | 48,431,475 |
Adjusted number of shares (in shares) | 16,346,745,978 | 16,996,196,041 |
Diluted earnings per share (in euro per share) | € 0.31 | € 0.27 |
Diluted earnings per share from discontinued operations (in euro per share) | 0 | 0 |
Diluted earnings per share from continuing operations (in euro per share) | € 0.31 | € 0.27 |
Remuneration and other benefi_3
Remuneration and other benefits paid to Banco Santander’s directors and senior managers - Schedule of remuneration of members of the board of directors (Details) - Board directors - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Remuneration concept | ||
Fixed salary remuneration of executive directors | € 3,136 | € 2,859 |
Variable salary remuneration of executive directors | 0 | 0 |
Directors fees | 628 | 525 |
Bylaw-stipulated emoluments (annual emolument) | 2,113 | 1,890 |
Other | 1,407 | 1,317 |
Sub-total | 7,284 | 6,591 |
Transactions with shares and/or other financial instruments | 0 | 0 |
Total remuneration | € 7,284 | € 6,591 |
Remuneration and other benefi_4
Remuneration and other benefits paid to Banco Santander’s directors and senior managers - Schedule of other benefits of members of the board of directors (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Board directors | ||
Other benefits | ||
Advances | € 0 | € 0 |
Pension funds and plans: Endowments and/or contributions | 1,055 | 946 |
Pension funds and plans: Accumulated rights | 66,792 | 64,895 |
Life insurance premiums | 563 | 769 |
Guarantees provided for directors | 0 | 0 |
Former board directors | ||
Other benefits | ||
Pension funds and plans: Accumulated rights | 46,275 | 48,388 |
Loan commitments granted | Board directors | ||
Other benefits | ||
Loans granted | € 144 | € 133 |
Remuneration and other benefi_5
Remuneration and other benefits paid to Banco Santander’s directors and senior managers - Schedule of remuneration of senior management (Details) € in Thousands | 6 Months Ended | |
Jun. 30, 2023 EUR (€) employees | Jun. 30, 2022 EUR (€) employees | |
Disclosure of transactions between related parties [line items] | ||
Number of senior managers who ceased in their functions | employees | 0 | |
Senior management | ||
Disclosure of transactions between related parties [line items] | ||
Total remuneration of senior management | € | € 12,761 | € 13,978 |
Number of employees | employees | 14 | 15 |
Senior management, ceased functions during the period | ||
Disclosure of transactions between related parties [line items] | ||
Remunerations received by members of senior management who ceased in their functions | € | € 511 |
Remuneration and other benefi_6
Remuneration and other benefits paid to Banco Santander’s directors and senior managers - Schedule of funds and pension plans of senior management (Details) € in Thousands | 6 Months Ended | |
Jun. 30, 2023 EUR (€) | Jun. 30, 2022 EUR (€) employees | |
Disclosure of transactions between related parties [line items] | ||
Number of senior managers who ceased in their functions | employees | 0 | |
Senior management | ||
Disclosure of transactions between related parties [line items] | ||
Pension funds: Endowments and/or contributions | € 2,550 | € 2,808 |
Pension funds: Accumulated rights | 55,451 | 56,222 |
Remunerations received as endowments and/or contributions to pension funds by members of the senior management who ceased in their functions | 108 | |
Retired senior management | ||
Disclosure of transactions between related parties [line items] | ||
Pension funds: Accumulated rights | € 90,401 | € 113,060 |
Financial assets - Schedule of
Financial assets - Schedule of components of financial assets (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Instruments | ||
Financial assets held for trading | € 183,834 | € 156,118 |
Non-trading financial assets mandatorily at fair value through profit or loss | 5,796 | 5,713 |
Financial assets designated at fair value through profit or loss | 9,645 | 8,989 |
Financial assets at fair value through other comprehensive income | 86,756 | 85,239 |
Financial assets at amortised cost | 1,180,302 | 1,147,044 |
Derivatives | ||
Debt Instruments | ||
Financial assets held for trading | 67,613 | 67,002 |
Equity instruments | ||
Debt Instruments | ||
Financial assets held for trading | 13,349 | 10,066 |
Non-trading financial assets mandatorily at fair value through profit or loss | 4,055 | 3,711 |
Financial assets at fair value through other comprehensive income | 1,729 | 1,941 |
Debt instruments | ||
Debt Instruments | ||
Financial assets held for trading | 55,823 | 41,403 |
Non-trading financial assets mandatorily at fair value through profit or loss | 888 | 1,134 |
Financial assets designated at fair value through profit or loss | 3,089 | 2,542 |
Financial assets at fair value through other comprehensive income | 76,010 | 75,083 |
Financial assets at amortised cost | 91,559 | 73,554 |
Loans and advances | ||
Debt Instruments | ||
Financial assets held for trading | 47,049 | 37,647 |
Non-trading financial assets mandatorily at fair value through profit or loss | 853 | 868 |
Financial assets designated at fair value through profit or loss | 6,556 | 6,447 |
Financial assets at fair value through other comprehensive income | 9,017 | 8,215 |
Financial assets at amortised cost | 1,088,743 | 1,073,490 |
Central Banks | ||
Debt Instruments | ||
Financial assets held for trading | 12,406 | 11,595 |
Non-trading financial assets mandatorily at fair value through profit or loss | 0 | 0 |
Financial assets designated at fair value through profit or loss | 0 | 0 |
Financial assets at fair value through other comprehensive income | 0 | 0 |
Financial assets at amortised cost | 17,871 | 15,375 |
Credit institutions | ||
Debt Instruments | ||
Financial assets held for trading | 23,592 | 16,502 |
Non-trading financial assets mandatorily at fair value through profit or loss | 1 | 0 |
Financial assets designated at fair value through profit or loss | 626 | 673 |
Financial assets at fair value through other comprehensive income | 303 | 0 |
Financial assets at amortised cost | 52,375 | 46,518 |
Customers | ||
Debt Instruments | ||
Financial assets held for trading | 11,051 | 9,550 |
Non-trading financial assets mandatorily at fair value through profit or loss | 852 | 868 |
Financial assets designated at fair value through profit or loss | 5,930 | 5,774 |
Financial assets at fair value through other comprehensive income | 8,714 | 8,215 |
Financial assets at amortised cost | € 1,018,497 | € 1,011,597 |
Financial assets - Disclosure o
Financial assets - Disclosure of gross exposure by stages of impairment (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | € 1,288,084 | € 1,252,936 |
Other assets | Next 12 months | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,182,689 | 1,153,143 |
Other assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 71,903 | 66,772 |
Impaired assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 33,492 | 33,021 |
Financial assets at fair value through other comprehensive income | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 85,098 | 83,326 |
Financial assets at fair value through other comprehensive income | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 76,021 | 75,093 |
Financial assets at fair value through other comprehensive income | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 9,077 | 8,233 |
Financial assets at fair value through other comprehensive income | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 303 | 0 |
Financial assets at fair value through other comprehensive income | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 8,774 | 8,233 |
Financial assets at fair value through other comprehensive income | Other assets | Next 12 months | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 84,841 | 83,118 |
Financial assets at fair value through other comprehensive income | Other assets | Next 12 months | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 76,015 | 75,087 |
Financial assets at fair value through other comprehensive income | Other assets | Next 12 months | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 8,826 | 8,031 |
Financial assets at fair value through other comprehensive income | Other assets | Next 12 months | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 303 | 0 |
Financial assets at fair value through other comprehensive income | Other assets | Next 12 months | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 8,523 | 8,031 |
Financial assets at fair value through other comprehensive income | Other assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 160 | 184 |
Financial assets at fair value through other comprehensive income | Other assets | Lifetime expected credit losses | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 0 | 0 |
Financial assets at fair value through other comprehensive income | Other assets | Lifetime expected credit losses | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 160 | 184 |
Financial assets at fair value through other comprehensive income | Other assets | Lifetime expected credit losses | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 0 | 0 |
Financial assets at fair value through other comprehensive income | Other assets | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 160 | 184 |
Financial assets at fair value through other comprehensive income | Impaired assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 97 | 24 |
Financial assets at fair value through other comprehensive income | Impaired assets | Lifetime expected credit losses | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 6 | 6 |
Financial assets at fair value through other comprehensive income | Impaired assets | Lifetime expected credit losses | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 91 | 18 |
Financial assets at fair value through other comprehensive income | Impaired assets | Lifetime expected credit losses | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 0 | 0 |
Financial assets at fair value through other comprehensive income | Impaired assets | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 91 | 18 |
Financial assets at amortised cost | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,202,986 | 1,169,610 |
Financial assets at amortised cost | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 91,821 | 73,770 |
Financial assets at amortised cost | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,111,165 | 1,095,840 |
Financial assets at amortised cost | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 52,382 | 46,524 |
Financial assets at amortised cost | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,040,912 | 1,033,941 |
Financial assets at amortised cost | Central Banks | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 17,871 | 15,375 |
Financial assets at amortised cost | Other assets | Next 12 months | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,097,848 | 1,070,025 |
Financial assets at amortised cost | Other assets | Next 12 months | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 91,254 | 73,297 |
Financial assets at amortised cost | Other assets | Next 12 months | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 1,006,594 | 996,728 |
Financial assets at amortised cost | Other assets | Next 12 months | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 52,369 | 46,523 |
Financial assets at amortised cost | Other assets | Next 12 months | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 936,354 | 934,830 |
Financial assets at amortised cost | Other assets | Next 12 months | Central Banks | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 17,871 | 15,375 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 71,743 | 66,588 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 125 | 75 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 71,618 | 66,513 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 13 | 1 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 71,605 | 66,512 |
Financial assets at amortised cost | Other assets | Lifetime expected credit losses | Central Banks | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 0 | 0 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 33,395 | 32,997 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | Debt instruments | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 442 | 398 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | Loans and advances | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 32,953 | 32,599 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | Credit institutions | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 0 | 0 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | 32,953 | 32,599 |
Financial assets at amortised cost | Impaired assets | Lifetime expected credit losses | Central Banks | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Maximum exposure to credit risk | € 0 | € 0 |
Financial assets - Narrative (D
Financial assets - Narrative (Details) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Debt Instruments | |||
Exposure in impaired assets purchased with impairment | € 1,288,084 | € 1,252,936 | |
Impairment loss (reversal) | 6,237 | € 4,763 | |
Financial assets at amortised cost | |||
Debt Instruments | |||
Exposure in impaired assets purchased with impairment | 1,202,986 | 1,169,610 | |
Previously written-off assets recovered | 864 | 662 | |
Loss due to contract renegotiation and modification | 264 | 169 | |
Impairment loss (reversal) | 6,243 | € 4,762 | |
Financial instruments purchased credit impaired | |||
Debt Instruments | |||
Exposure in impaired assets purchased with impairment | 671 | € 322 | |
Financial instruments purchased credit impaired | Business combinations carried out | |||
Debt Instruments | |||
Exposure in impaired assets purchased with impairment | € 251 |
Financial assets - Disclosure_2
Financial assets - Disclosure of reconciliation of changes in loss allowance (Details) - Financial assets at amortised cost - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment losses charged to income for the period | € 6,843 | € 5,255 |
Impairment losses charged to income | 11,225 | 9,720 |
Impairment losses reversed with a credit to income | (4,382) | (4,465) |
Perimeter change | (37) | 0 |
Write-off of impaired balances against recorded impairment allowance | (6,831) | (5,682) |
Exchange differences and other | 492 | 937 |
Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 22,888 | 23,164 |
Impairment allowance at end of year | 23,355 | 23,674 |
Impaired assets | Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | 14,271 | 13,707 |
Other assets | Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | 9,084 | 9,967 |
Individually calculated | Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | 2,858 | 2,719 |
Collectively calculated | Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | € 20,497 | € 20,955 |
Financial assets - Disclosure_3
Financial assets - Disclosure of reconciliation of changes in gross carrying amount for financial instruments (Details) - Financial assets at amortised cost - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Variation due to credit risk | € 37 | € 0 |
Write-offs | 6,831 | 5,682 |
Exchange differences and other | 492 | 937 |
Accumulated impairment | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 22,888 | 23,164 |
Impairment allowance at end of year | 23,355 | 23,674 |
Accumulated impairment | Other assets | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | 9,084 | 9,967 |
Accumulated impairment | Impaired assets | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at end of year | 14,271 | 13,707 |
Accumulated impairment | Loans and advances to customers | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 22,666 | 22,952 |
Transfers between stages | 3,668 | 2,544 |
Variation due to credit risk | 3,119 | 2,721 |
Write-offs | (6,801) | (5,682) |
Exchange differences and other | 434 | 905 |
Impairment allowance at end of year | 23,086 | 23,440 |
Accumulated impairment | Loans and advances to customers | Other assets | Next 12 months | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 3,611 | 4,182 |
Transfers between stages | (454) | (455) |
Variation due to credit risk | 605 | 473 |
Write-offs | 0 | 0 |
Exchange differences and other | 88 | 249 |
Impairment allowance at end of year | 3,850 | 4,449 |
Accumulated impairment | Loans and advances to customers | Other assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 5,124 | 5,224 |
Transfers between stages | 355 | 381 |
Variation due to credit risk | (377) | (447) |
Write-offs | 0 | 0 |
Exchange differences and other | 97 | 324 |
Impairment allowance at end of year | 5,199 | 5,482 |
Accumulated impairment | Loans and advances to customers | Impaired assets | Lifetime expected credit losses | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Impairment allowance at beginning of year | 13,931 | 13,546 |
Transfers between stages | 3,767 | 2,618 |
Variation due to credit risk | 2,891 | 2,695 |
Write-offs | (6,801) | (5,682) |
Exchange differences and other | 249 | 332 |
Impairment allowance at end of year | € 14,037 | € 13,509 |
Financial assets - Disclosure_4
Financial assets - Disclosure of reconciliation of financial assets classified at amortised cost (Details) - Financial assets at amortised cost - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Written-off assets | € (6,831) | € (5,682) |
Perimeter change | (37) | 0 |
Exchange differences and other | (492) | (937) |
Gross carrying amount | Impaired assets | ||
Disclosure of reconciliation of changes in loss allowance of financial instruments | ||
Financial assets at beginning of period | 33,269 | 31,848 |
Net additions | 6,480 | 5,710 |
Written-off assets | (6,831) | (5,682) |
Perimeter change | (45) | 0 |
Exchange differences and other | 773 | 850 |
Financial assets at end of period | € 33,646 | € 32,726 |
Financial assets - Schedule o_2
Financial assets - Schedule of guarantees received for financial assets (Details) - Financial assets at amortised cost - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Real guarantees value | € 632,794 | € 627,337 |
Other guarantees value | 93,967 | 96,645 |
Total value of the guarantees received | 726,761 | 723,982 |
Credit impaired | Impaired assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Real guarantees value | 12,028 | 11,846 |
Other guarantees value | € 2,227 | € 2,029 |
Financial assets - Schedule o_3
Financial assets - Schedule of financial assets measured at other than fair value (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Carrying amount | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | € 1,180,302 | € 1,147,044 |
Fair value | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,156,421 | 1,124,076 |
Loans and advances | Carrying amount | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,088,743 | 1,073,490 |
Loans and advances | Fair value | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,067,336 | 1,053,703 |
Debt instruments | Carrying amount | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 91,559 | 73,554 |
Debt instruments | Fair value | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | € 89,085 | € 70,373 |
Non-current assets held for s_3
Non-current assets held for sale - Schedule of non-current assets classified as held for sale (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Assets And Liabilities Classified As Held For Sale [Line Items] | ||
Tangible assets | € 34,159 | € 34,073 |
Other assets | 9,193 | 10,082 |
Non-current assets or disposal groups classified as held for sale | 3,151 | 3,453 |
Non-current assets held for sale | ||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||
Tangible assets | 3,125 | 3,435 |
Other assets | 26 | |
Non-current assets or disposal groups classified as held for sale | 3,151 | 3,453 |
Non-current assets held for sale | Foreclosed assets | ||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||
Tangible assets | 2,912 | 3,101 |
Other tangible assets held for sale | 213 | 334 |
Other assets | 18 | |
Non-current assets held for sale | Spain | Foreclosed assets | ||
Assets And Liabilities Classified As Held For Sale [Line Items] | ||
Tangible assets | € 2,335 | € 2,596 |
Non-current assets held for s_4
Non-current assets held for sale - Narrative (Details) - Non-current assets held for sale - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Assets And Liabilities Classified As Held For Sale [Line Items] | |||
Provision recognised for non-current assets held for sale | € 3,173 | € 3,425 | |
Net charges recorded against valuation allowances | 63 | € 100 | |
Recoveries | € 16 | € 33 |
Tangible assets (Details)
Tangible assets (Details) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Property, plant and equipment [abstract] | |||
Acquisitions, property, plant and equipment | € 4,705 | € 4,387 | |
Disposals, property, plant and equipment | 2,713 | 2,965 | |
(Losses) gains on disposals of property, plant and equipment | 24 | € (4) | |
Right-of-use assets | € 2,384 | € 2,413 |
Intangible assets - Schedule of
Intangible assets - Schedule of goodwill based on cash-generating units (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of information for cash-generating units [line items] | ||
Goodwill | € 14,126 | € 13,741 |
Banco Santander (Brazil) | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 3,756 | 3,503 |
SAM Investment Holdings Limited | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 1,444 | 1,444 |
Santander Consumer Germany | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 1,304 | 1,304 |
Santander Bank Polska | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 1,135 | 1,075 |
Santander Portugal | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 1,040 | 1,040 |
Santander US Auto | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 1,016 | 1,039 |
Santander España | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 998 | 998 |
Santander Holding USA (ex. Auto) | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 824 | 844 |
Santander UK | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 619 | 599 |
Banco Santander - Chile | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 570 | 548 |
Grupo Financiero Santander (Mexico) | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 522 | 469 |
Ebury Partners | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 308 | 298 |
Santander Consumer Nordics | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | 199 | 215 |
Other entities | ||
Disclosure of information for cash-generating units [line items] | ||
Goodwill | € 391 | € 365 |
Intangible assets - Narrative (
Intangible assets - Narrative (Details) € in Millions | 6 Months Ended |
Jun. 30, 2023 EUR (€) | |
Intangible assets and goodwill [abstract] | |
Increase in goodwill | € 385 |
Impairment loss recognised in profit or loss, goodwill | € 0 |
Financial liabilities - Schedul
Financial liabilities - Schedule of components of financial liabilities other than hedging derivatives (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | € 134,888 | € 115,185 | |
Financial liabilities designated at fair value through profit or loss | [1] | 36,220 | 40,268 |
Financial liabilities at amortised cost | 1,446,882 | 1,423,858 | |
Derivatives | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 62,259 | 64,891 | |
Short Positions | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 22,352 | 22,515 | |
Deposits | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 50,277 | 27,779 | |
Financial liabilities designated at fair value through profit or loss | 30,536 | 34,841 | |
Financial liabilities at amortised cost | 1,115,908 | 1,111,887 | |
Central banks | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 16,216 | 5,757 | |
Financial liabilities designated at fair value through profit or loss | 829 | 1,740 | |
Financial liabilities at amortised cost | 58,644 | 76,952 | |
Credit institutions | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 14,140 | 9,796 | |
Financial liabilities designated at fair value through profit or loss | 2,410 | 1,958 | |
Financial liabilities at amortised cost | 90,704 | 68,582 | |
Customer | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 19,921 | 12,226 | |
Financial liabilities designated at fair value through profit or loss | 27,297 | 31,143 | |
Financial liabilities at amortised cost | 966,560 | 966,353 | |
Debt instruments | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss | 5,684 | 5,427 | |
Financial liabilities at amortised cost | 285,869 | 274,912 | |
Other financial liabilities | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities held for trading | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |
Financial liabilities at amortised cost | € 45,105 | € 37,059 | |
[1]See impact of IFRS 17 as at 31 December 2022 (see Note 1.b). |
Financial liabilities - Disclos
Financial liabilities - Disclosure of composition of debt instruments excluding promissory notes (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Bonds and debentures outstanding | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | € 217,735 | € 211,597 | € 204,623 | € 194,362 |
Subordinated | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 26,864 | 25,717 | € 25,833 | € 25,938 |
Debt instruments | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 291,553 | 280,339 | ||
Debt instruments | Bonds and debentures outstanding | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 217,735 | 211,597 | ||
Debt instruments | Subordinated | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 26,864 | 25,717 | ||
Debt instruments | Promissory notes and other securities | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | € 46,954 | € 43,025 |
Financial liabilities - Discl_2
Financial liabilities - Disclosure of reconciliation of debt instruments (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Changes in financial instruments, Liabilities | ||
Perimeter | € (304) | € (84) |
Bonds and debentures outstanding | ||
Changes in financial instruments, Liabilities | ||
Balance at beginning of period | 211,597 | 194,362 |
Perimeter | (1,467) | 0 |
Issuances or placements | 34,438 | 33,800 |
Repurchases or redemptions | (28,534) | (27,376) |
Exchange rate and other adjustments | 1,701 | 3,837 |
Balance at end of period | 217,735 | 204,623 |
Subordinated | ||
Changes in financial instruments, Liabilities | ||
Balance at beginning of period | 25,717 | 25,938 |
Perimeter | 0 | 0 |
Issuances or placements | 1,500 | 113 |
Repurchases or redemptions | (36) | (853) |
Exchange rate and other adjustments | (317) | 635 |
Balance at end of period | 26,864 | 25,833 |
Bonds and debentures and subordinated liabilities | ||
Changes in financial instruments, Liabilities | ||
Balance at beginning of period | 237,314 | 220,300 |
Perimeter | (1,467) | 0 |
Issuances or placements | 35,938 | 33,913 |
Repurchases or redemptions | (28,570) | (28,229) |
Exchange rate and other adjustments | 1,384 | 4,472 |
Balance at end of period | € 244,599 | € 230,456 |
Financial liabilities - Narrati
Financial liabilities - Narrative (Details) - EUR (€) € in Millions | May 23, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Apr. 25, 2022 |
Disclosure of financial liabilities [line items] | ||||
Other financial liabilities | € 45,105 | € 37,059 | ||
Subordinated | Issuance By Banco Santander SA In May 2023 | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | € 1,500 | |||
Subordinated issue, term | 10 years 3 months | |||
Interest rate | 5.75% | |||
Initial interest rate term | 5 years 3 months | |||
Adjustment to reference rate, after initial interest rate period | 2.85% | |||
Subordinated issue, Euro Swap rate term | 5 years | |||
Tier One Contingently Convertible Preferred Securities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | € 750 |
Financial liabilities - Sched_2
Financial liabilities - Schedule of financial liabilities measured at other than fair value (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of financial liabilities [line items] | ||||
Financial liabilities, at fair value | € 820 | € 925 | € 630 | € 629 |
Debt instruments | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 291,553 | 280,339 | ||
Carrying amount | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 1,401,777 | 1,386,799 | ||
Carrying amount | Deposits | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 1,115,908 | 1,111,887 | ||
Carrying amount | Debt instruments | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 285,869 | 274,912 | ||
Fair value | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities, at fair value | 1,390,494 | 1,372,109 | ||
Fair value | Deposits | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities, at fair value | 1,114,308 | 1,108,918 | ||
Fair value | Debt instruments | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities, at fair value | € 276,186 | € 263,191 |
Provisions - Schedule of other
Provisions - Schedule of other provisions by type of provision (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [line items] | ||
Provisions | € 8,389 | € 8,149 |
Other combined provisions | ||
Disclosure of other provisions [line items] | ||
Provisions | 4,490 | 4,073 |
Provisions for taxes | ||
Disclosure of other provisions [line items] | ||
Provisions | 741 | 679 |
Provisions for employment-related proceedings | Brazil | ||
Disclosure of other provisions [line items] | ||
Provisions | 475 | 301 |
Provisions for other legal proceedings | ||
Disclosure of other provisions [line items] | ||
Provisions | 1,342 | 1,094 |
Provision for customer remediation | ||
Disclosure of other provisions [line items] | ||
Provisions | 385 | 349 |
Provision for restructuring | ||
Disclosure of other provisions [line items] | ||
Provisions | 659 | 641 |
Other | ||
Disclosure of other provisions [line items] | ||
Provisions | € 888 | € 1,009 |
Provisions - Narrative (Details
Provisions - Narrative (Details) - Brazil € in Millions | 6 Months Ended |
Jun. 30, 2023 EUR (€) | |
Provisions for employment-related proceedings | |
Disclosure of other provisions [line items] | |
Additional provisions charged to income statement | € 257 |
Use of the available provisions | 116 |
Provisions for other legal proceedings | |
Disclosure of other provisions [line items] | |
Additional provisions charged to income statement | 115 |
Use of the available provisions | € 87 |
Provisions - Tax-related litiga
Provisions - Tax-related litigation (Details) € in Millions | Jun. 30, 2023 EUR (€) | Jun. 13, 2023 case | Dec. 31, 2022 EUR (€) | Oct. 31, 2021 decision |
Disclosure of other provisions [line items] | ||||
PROVISIONS | € 8,389 | € 8,149 | ||
Number of decision appealed before European Courts | decision | 2 | |||
Banco Santander (Brazil) | ||||
Disclosure of other provisions [line items] | ||||
Tax legal obligations with probable loss risk | 807 | |||
Estimated financial effect of contingent liabilities | 5,440 | |||
Legal case relating to Programa de Integraçao Social (PIS) and Contribuição para Financiamento da Seguridade Social (COFINS) | ||||
Disclosure of other provisions [line items] | ||||
Number of unfavorably cases ruled by Federal Supreme Court | case | 2 | |||
Legal case relating to questionable deduction of loan losses in income tax returns | Banco Santander (Brazil) | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal case relating to tax deductibility of sale of shares | Banco Santander (Brazil) | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal case appeal relating to deduction of expenses in income tax (IRPJ and CSLL) | Banco Santander Brasil SA | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal case relating to tax deductibility of amortization of goodwill arising on acquisition | Banco Santander (Brazil) | Banco Comercial e de Investimento Sudameris S.A | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal case relating to tax deductibility of amortization of goodwill arising on acquisition | Banco Santander (Brazil) | Getnet Tecnologia Proces S.A. | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal case related to infringement notices initiated by tax authorities regarding offsetting tax losses | Banco Santander (Brazil) | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | 0 | |||
Legal Case Related To Withholding Income Tax On Payments Derived From Technology Services | Banco Santander Brasil SA | ||||
Disclosure of other provisions [line items] | ||||
PROVISIONS | € 0 |
Provisions - Non-tax-related pr
Provisions - Non-tax-related proceedings (Details) € in Millions, £ in Millions, zł in Millions | 5 Months Ended | 6 Months Ended | 12 Months Ended | 19 Months Ended | ||||||||||||||||||||
Jul. 11, 2023 EUR (€) | Feb. 06, 2023 EUR (€) | Jun. 29, 2022 magistrate | Jan. 13, 2022 EUR (€) | Dec. 09, 2021 EUR (€) | Sep. 16, 2021 EUR (€) | May 29, 2020 | May 16, 2021 EUR (€) | Jun. 30, 2023 EUR (€) entity | Jun. 30, 2023 PLN (zł) | Dec. 31, 1999 shares | Dec. 31, 1994 child | Dec. 31, 2022 EUR (€) | Jun. 30, 2023 PLN (zł) entity | Jun. 29, 2023 EUR (€) | Jun. 29, 2023 GBP (£) | Jun. 20, 2023 EUR (€) | Dec. 02, 2022 EUR (€) | Dec. 02, 2022 GBP (£) | Jun. 01, 2022 judgement appeal | Mar. 05, 2021 EUR (€) | Mar. 05, 2021 GBP (£) | Jul. 31, 2020 EUR (€) | Dec. 31, 2017 EUR (€) | |
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | € 8,389 | € 8,149 | ||||||||||||||||||||||
Number of pilot cases | appeal | 5 | |||||||||||||||||||||||
Number of judgements rendered on pilot cases appealed | judgement | 4 | |||||||||||||||||||||||
Banco Popular Espanol S.A. | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Estimated cost of compensation to shareholders and bondholders | € 680 | |||||||||||||||||||||||
Estimated cost of compensation to shareholders and bondholders applied to the commercial loyalty program | € 535 | |||||||||||||||||||||||
Santander Bank Polska and Santander Consumer Bank Poland | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Mortgage loans denominated in, or indexed to, CHF | € 1,543 | zł 6,844.4 | ||||||||||||||||||||||
Reimbursement liability from standstill agreement termination | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Legal proceedings, amount of entities involved in legal dispute | entity | 2 | 2 | ||||||||||||||||||||||
PROVISIONS | € 643.4 | £ 552 | € 780.9 | £ 670 | € 741.3 | £ 636 | ||||||||||||||||||
Reimbursement liability from standstill agreement termination | Genworth Financial International Holdings, Inc. | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | € 624 | |||||||||||||||||||||||
Delforca case to request Court judgment on the validity of the swaps | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Arbitration matter, amount claimed by entity | € 66 | |||||||||||||||||||||||
Arbitration matter, amount claimed by counterparty | 57 | |||||||||||||||||||||||
Arbitration matter, amount to be received by entity | € 66 | |||||||||||||||||||||||
Arbitration matter, interest to be received by entity | € 11 | |||||||||||||||||||||||
Planos Economicos | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Period of suspension of economic plan processes | 5 years | |||||||||||||||||||||||
Planos Economicos | Banco Santander Brasil SA | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | € 238.2 | |||||||||||||||||||||||
Floor clauses | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | 55.5 | |||||||||||||||||||||||
Banco Popular's acquisition | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Number of judgements rendered on pilot cases | judgement | 5 | |||||||||||||||||||||||
Individual plaintiff, CEO functions | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | € 35.5 | |||||||||||||||||||||||
Compensation sought in litigation claim | € 112 | € 61.9 | ||||||||||||||||||||||
Losses on litigation settlements | € 51.4 | € 67.8 | ||||||||||||||||||||||
Litigation contingencies, decrease in losses on litigation settlements | € 8 | |||||||||||||||||||||||
Gains on litigation settlements | € 9.6 | |||||||||||||||||||||||
Individual plaintiff, CEO functions | Share Based Variable Remuneration Award 2018 | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Variable remuneration, deferred payment, long-term metric achievement, percentage | 33.30% | 33.30% | ||||||||||||||||||||||
Breach of marketing alliance agreement | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Compensation sought in litigation claim | € 1,050 | |||||||||||||||||||||||
Conversion of active loans from Swiss Francs to PLN Loans | Santander Bank Polska and Santander Consumer Bank Poland | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Mortgage loans, provision and adjustment to gross carrying amount | 902.4 | zł 4,003.1 | ||||||||||||||||||||||
Mortgage loans, adjustment to gross carrying amount | 775 | 3,437.6 | ||||||||||||||||||||||
Increase in adjustment to gross carrying amount, mortgage loans | 163.4 | zł 755.6 | ||||||||||||||||||||||
Increase through other costs associated | 46.3 | 213.9 | ||||||||||||||||||||||
Conversion of active loans from Swiss Francs to PLN Loans | Santander Bank Polska and Santander Consumer Bank Poland | Active loans, under IAS 37 | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
PROVISIONS | 127.4 | zł 565.5 | ||||||||||||||||||||||
Increase in existing provisions | 38.9 | zł 180 | ||||||||||||||||||||||
Inheritance trust | Banco Santander Mexico S.A. Institucion De Banca Multiple, Grupo Financiero Santander Mexico | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Number of sons involved in testamentary trust | child | 4 | |||||||||||||||||||||||
Amount of shares to be transferred by trustee | shares | 36,700,000 | |||||||||||||||||||||||
Number of magistrates requested to be withdrawed | magistrate | 2 | |||||||||||||||||||||||
Number of magistrates | magistrate | 3 | |||||||||||||||||||||||
Financing terms, bonds issue | URO Property Holdings SOCIMI SA | ||||||||||||||||||||||||
Disclosure of other provisions [line items] | ||||||||||||||||||||||||
Legal proceedings, maximum loss | € 250 |
Equity - Capital (Details)
Equity - Capital (Details) - EUR (€) € / shares in Units, € in Millions | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 21, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Disclosure of classes of share capital [line items] | |||||
Nominal amount | € 8,092 | € 8,092 | € 8,397 | ||
Number of shares outstanding (in shares) | 16,184,146,059 | 16,184,146,059 | 16,794,401,584 | ||
Par value per share (in euro per share) | € 0.50 | € 0.50 | € 0.50 | ||
Reduction of issued capital | € 0 | € 0 | |||
(-) Own shares | |||||
Disclosure of classes of share capital [line items] | |||||
Reduction of issued capital | € 135 | € 170 | € (1,900) | € (1,706) | |
Redemption of treasury shares (in shares) | 269,848,953 | 340,406,572 |
Equity - Share premium (Details
Equity - Share premium (Details) € in Millions | 6 Months Ended |
Jun. 30, 2023 EUR (€) | |
Redemption of treasury shares, purchase value | € 1,900 |
Redemption of treasury shares, par value | 305 |
Share premium | |
Increase (decrease) in equity | € (1,595) |
Equity - Schedule of other comp
Equity - Schedule of other comprehensive income components (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Equity [abstract] | ||
OTHER COMPREHENSIVE INCOME (LOSS) | € (33,789) | € (35,628) |
Items not reclassified to profit or loss | (4,956) | (4,635) |
Actuarial gains or losses on defined benefit pension plans | (4,036) | (3,945) |
Non-current assets held for sale | 0 | 0 |
Share in other income and expenses recognised in investments, joint ventures and associates | 3 | 10 |
Other valuation adjustments | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income | (859) | (672) |
Inefficacy of fair value hedges of equity instruments measured at fair value with changes in other comprehensive income | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income (hedged item) | 252 | 293 |
Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income (hedging instrument) | (252) | (293) |
Changes in the fair value of financial liabilities measured at fair value through profit or loss attributable to changes in credit risk | (64) | (28) |
Items that may be reclassified to profit or loss | (28,833) | (30,993) |
Hedge of net investments in foreign operations (effective portion) | (8,322) | (6,750) |
Exchange differences | (17,580) | (20,420) |
Hedging derivatives (effective portion) | (2,118) | (2,437) |
Changes in the fair value of debt instruments measured at fair value with changes in other comprehensive income | (563) | (1,002) |
Hedging instruments (items not designated) | 0 | 0 |
Non-current assets held for sale | 0 | 0 |
Share in other income and expenses recognised in investments, joint ventures and associates | € (250) | € (384) |
Equity - Other comprehensive in
Equity - Other comprehensive income, items not reclassified to profit or loss - Actuarial gains or losses on defined benefit benefit pension plans (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Items not reclassified to profit or loss | ||
Decrease (increase) in actuarial losses | € (402) | |
Increase (decrease) in net defined benefit liability (asset) resulting from miscellaneous other changes | 120 | |
UK | ||
Items not reclassified to profit or loss | ||
Decrease (increase) in accumulated actuarial losses/profits | € (182) | |
Discount rates | 5.28% | 4.88% |
Brazil | ||
Items not reclassified to profit or loss | ||
Decrease (increase) in accumulated actuarial losses/profits | € (134) | |
Brazil | Main Pension Plan | ||
Items not reclassified to profit or loss | ||
Discount rates | 8.71% | 9.44% |
Brazil | Main Medical Plan | ||
Items not reclassified to profit or loss | ||
Discount rates | 8.73% | 9.46% |
Portugal | ||
Items not reclassified to profit or loss | ||
Decrease (increase) in accumulated actuarial losses/profits | € 21 | |
Spain | ||
Items not reclassified to profit or loss | ||
Decrease (increase) in accumulated actuarial losses/profits | € 13 | |
Discount rates | 4% | 3.80% |
Equity - Schedule of changes in
Equity - Schedule of changes in fair value of equity instruments that will not be reclassified (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Items not reclassified to profit or loss | ||
Net revaluation gains/(losses) | € (859) | € (672) |
Fair value | 86,756 | 85,239 |
Equity instruments | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 468 | 373 |
Revaluation losses | (1,327) | (1,045) |
Net revaluation gains/(losses) | (859) | (672) |
Fair value | 1,729 | 1,941 |
Domestic | Spain | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 31 | 30 |
Revaluation losses | (1,172) | (926) |
Net revaluation gains/(losses) | (1,141) | (896) |
Fair value | 251 | 500 |
International | Rest of Europe | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 110 | 84 |
Revaluation losses | (67) | (60) |
Net revaluation gains/(losses) | 43 | 24 |
Fair value | 271 | 225 |
International | United States | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 18 | 15 |
Revaluation losses | 0 | 0 |
Net revaluation gains/(losses) | 18 | 15 |
Fair value | 24 | 29 |
International | Latin America and rest | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 309 | 244 |
Revaluation losses | (88) | (59) |
Net revaluation gains/(losses) | 221 | 185 |
Fair value | 1,183 | 1,187 |
Listed | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 311 | 246 |
Revaluation losses | (138) | (113) |
Net revaluation gains/(losses) | 173 | 133 |
Fair value | 1,191 | 1,200 |
Unlisted | ||
Items not reclassified to profit or loss | ||
Revaluation gains | 157 | 127 |
Revaluation losses | (1,189) | (932) |
Net revaluation gains/(losses) | (1,032) | (805) |
Fair value | € 538 | € 741 |
Equity - Other comprehensive _2
Equity - Other comprehensive income, items that may be reclassified to profit or loss – Hedges of net investments in foreign operations and exchange differences (Details) € in Millions | 6 Months Ended |
Jun. 30, 2023 EUR (€) | |
Equity [abstract] | |
Increase in goodwill due to exchange differences and other items | € 392 |
Equity - Schedule of other co_2
Equity - Schedule of other comprehensive income, that may be reclassified to profit or loss, by type of instrument and geographical origin of the issuer (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Financial assets at fair value through other comprehensive income [abstract] | ||
Net revaluation gains/(losses) | € (563) | € (1,002) |
Fair value | 86,756 | 85,239 |
Debt instruments | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 763 | 517 |
Revaluation losses | (1,326) | (1,519) |
Net revaluation gains/(losses) | (563) | (1,002) |
Fair value | 85,027 | 83,298 |
Issued by public Public-sector | Spain | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 110 | 26 |
Revaluation losses | (1) | (1) |
Net revaluation gains/(losses) | 109 | 25 |
Fair value | 9,544 | 9,312 |
Issued by public Public-sector | Rest of Europe | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 355 | 268 |
Revaluation losses | (140) | (199) |
Net revaluation gains/(losses) | 215 | 69 |
Fair value | 18,607 | 17,593 |
Issued by public Public-sector | Latin America and rest of the world | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 177 | 196 |
Revaluation losses | (843) | (937) |
Net revaluation gains/(losses) | (666) | (741) |
Fair value | 40,351 | 40,873 |
Issued by Private-sector | Spain | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 82 | 0 |
Revaluation losses | (3) | (24) |
Net revaluation gains/(losses) | 79 | (24) |
Fair value | 6,277 | 5,727 |
Issued by Private-sector | Rest of Europe | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 12 | 11 |
Revaluation losses | (56) | (68) |
Net revaluation gains/(losses) | (44) | (57) |
Fair value | 5,157 | 5,203 |
Issued by Private-sector | Latin America and rest of the world | ||
Financial assets at fair value through other comprehensive income [abstract] | ||
Revaluation gains | 27 | 16 |
Revaluation losses | (283) | (290) |
Net revaluation gains/(losses) | (256) | (274) |
Fair value | € 5,091 | € 4,590 |
Equity - Other comprehensive _3
Equity - Other comprehensive income, items that may be reclassified to profit or loss – Changes in the fair value of debt instruments measured at fair value through other comprehensive income (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Items not reclassified to profit or loss | ||
Financial assets at amortised cost | € 1,180,302 | € 1,147,044 |
Debt instruments | ||
Items not reclassified to profit or loss | ||
Financial assets at amortised cost | € 91,559 | € 73,554 |
Segment information (Primary _3
Segment information (Primary segment) - Disclosure of reconciliation between adjusted profit and statutory profit (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating segments | ||
Revenue from ordinary activities | € 59,700 | € 42,984 |
Profit before taxes | 8,090 | 7,915 |
Profit | 5,241 | 4,894 |
Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 59,700 | 42,984 |
Profit before taxes | 8,329 | 7,915 |
Profit | 5,241 | 4,894 |
Adjustments | ||
Operating segments | ||
Revenue from ordinary activities | 0 | 0 |
Profit before taxes | (239) | 0 |
Profit | 0 | 0 |
Europe | Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 19,391 | 13,649 |
Profit before taxes | 3,888 | 2,693 |
Profit | 2,536 | 1,839 |
North America | Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 13,966 | 8,154 |
Profit before taxes | 1,739 | 2,061 |
Profit | 1,346 | 1,578 |
South America | Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 20,461 | 17,613 |
Profit before taxes | 2,376 | 3,165 |
Profit | 1,458 | 1,946 |
Digital Consumer Bank | Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 4,761 | 3,395 |
Profit before taxes | 928 | 1,010 |
Profit | 521 | 572 |
Corporate Centre | Underlying Profit | ||
Operating segments | ||
Revenue from ordinary activities | 1,121 | 173 |
Profit before taxes | (602) | (1,014) |
Profit | € (620) | € (1,041) |
Segment information (Primary _4
Segment information (Primary segment) - Narrative (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating segments | ||
Restructuring costs | € (1,330) | € (935) |
Related parties (Details)
Related parties (Details) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Expenses | |||
Finance costs | € 79 | € 16 | |
Leases | 0 | 0 | |
Services received | 0 | 0 | |
Purchases of stocks | 0 | 0 | |
Other expenses | 57 | 197 | |
Total expenses | 136 | 213 | |
Income | |||
Finance income | 191 | 71 | |
Dividends received | 0 | 0 | |
Services rendered | 0 | 0 | |
Sale of stocks | 0 | 0 | |
Other income | 710 | 684 | |
Total income | 901 | 755 | |
Debt balances: | |||
Customers and commercial debtors | 0 | € 0 | |
Loans and credits granted | 9,956 | 9,779 | |
Other collection rights | 969 | 946 | |
Debit balances | 10,925 | 10,725 | |
Credit balances: | |||
Suppliers and creditors granted | 0 | 0 | |
Loans and credits received | 3,346 | 3,370 | |
Other payment obligations | 358 | 372 | |
Credit balances | 3,704 | 3,742 | |
Other transactions | |||
Other transactions | |||
Financing agreements: loans and capital contributions (lender) | 179 | 741 | |
Financing agreements: loans and capital contributions (borrower) | (22) | 411 | |
Guarantees provided | 680 | 0 | |
Guarantees received | 0 | 0 | |
Commitments acquired | 54 | (14) | |
Dividends and other distributed profit | 11 | 10 | |
Other transactions | 36 | (106) | |
Significant shareholders | |||
Expenses | |||
Finance costs | 0 | 0 | |
Leases | 0 | 0 | |
Services received | 0 | 0 | |
Purchases of stocks | 0 | 0 | |
Other expenses | 0 | 0 | |
Total expenses | 0 | 0 | |
Income | |||
Finance income | 0 | 0 | |
Dividends received | 0 | 0 | |
Services rendered | 0 | 0 | |
Sale of stocks | 0 | 0 | |
Other income | 0 | 0 | |
Total income | 0 | 0 | |
Debt balances: | |||
Customers and commercial debtors | 0 | 0 | |
Loans and credits granted | 0 | 0 | |
Other collection rights | 0 | 0 | |
Debit balances | 0 | 0 | |
Credit balances: | |||
Suppliers and creditors granted | 0 | 0 | |
Loans and credits received | 0 | 0 | |
Other payment obligations | 0 | 0 | |
Credit balances | 0 | 0 | |
Significant shareholders | Other transactions | |||
Other transactions | |||
Financing agreements: loans and capital contributions (lender) | 0 | 0 | |
Financing agreements: loans and capital contributions (borrower) | 0 | 0 | |
Guarantees provided | 0 | 0 | |
Guarantees received | 0 | 0 | |
Commitments acquired | 0 | 0 | |
Dividends and other distributed profit | 0 | 0 | |
Other transactions | 0 | 0 | |
Directors and executives | |||
Expenses | |||
Finance costs | 0 | 0 | |
Leases | 0 | 0 | |
Services received | 0 | 0 | |
Purchases of stocks | 0 | 0 | |
Other expenses | 0 | 0 | |
Total expenses | 0 | 0 | |
Income | |||
Finance income | 0 | 0 | |
Dividends received | 0 | 0 | |
Services rendered | 0 | 0 | |
Sale of stocks | 0 | 0 | |
Other income | 0 | 0 | |
Total income | 0 | 0 | |
Debt balances: | |||
Customers and commercial debtors | 0 | 0 | |
Loans and credits granted | 13 | 13 | |
Other collection rights | 0 | 0 | |
Debit balances | 13 | 13 | |
Credit balances: | |||
Suppliers and creditors granted | 0 | 0 | |
Loans and credits received | 21 | 22 | |
Other payment obligations | 0 | 0 | |
Credit balances | 21 | 22 | |
Directors and executives | Other transactions | |||
Other transactions | |||
Financing agreements: loans and capital contributions (lender) | 2 | 0 | |
Financing agreements: loans and capital contributions (borrower) | 0 | 9 | |
Guarantees provided | 0 | 0 | |
Guarantees received | 0 | 0 | |
Commitments acquired | 0 | 0 | |
Dividends and other distributed profit | 1 | 1 | |
Other transactions | 0 | 0 | |
Group companies or entities | |||
Expenses | |||
Finance costs | 79 | 16 | |
Leases | 0 | 0 | |
Services received | 0 | 0 | |
Purchases of stocks | 0 | 0 | |
Other expenses | 57 | 197 | |
Total expenses | 136 | 213 | |
Income | |||
Finance income | 188 | 71 | |
Dividends received | 0 | 0 | |
Services rendered | 0 | 0 | |
Sale of stocks | 0 | 0 | |
Other income | 709 | 683 | |
Total income | 897 | 754 | |
Debt balances: | |||
Customers and commercial debtors | 0 | 0 | |
Loans and credits granted | 9,687 | 9,311 | |
Other collection rights | 969 | 946 | |
Debit balances | 10,656 | 10,257 | |
Credit balances: | |||
Suppliers and creditors granted | 0 | 0 | |
Loans and credits received | 3,210 | 3,239 | |
Other payment obligations | 358 | 372 | |
Credit balances | 3,568 | 3,611 | |
Group companies or entities | Other transactions | |||
Other transactions | |||
Financing agreements: loans and capital contributions (lender) | 376 | 715 | |
Financing agreements: loans and capital contributions (borrower) | (29) | 362 | |
Guarantees provided | 0 | 0 | |
Guarantees received | 0 | 0 | |
Commitments acquired | 51 | (12) | |
Dividends and other distributed profit | 0 | 0 | |
Other transactions | 36 | (106) | |
Other related parties | |||
Expenses | |||
Finance costs | 0 | 0 | |
Leases | 0 | 0 | |
Services received | 0 | 0 | |
Purchases of stocks | 0 | 0 | |
Other expenses | 0 | 0 | |
Total expenses | 0 | 0 | |
Income | |||
Finance income | 3 | 0 | |
Dividends received | 0 | 0 | |
Services rendered | 0 | 0 | |
Sale of stocks | 0 | 0 | |
Other income | 1 | 1 | |
Total income | 4 | 1 | |
Debt balances: | |||
Customers and commercial debtors | 0 | 0 | |
Loans and credits granted | 256 | 455 | |
Other collection rights | 0 | 0 | |
Debit balances | 256 | 455 | |
Credit balances: | |||
Suppliers and creditors granted | 0 | 0 | |
Loans and credits received | 115 | 109 | |
Other payment obligations | 0 | 0 | |
Credit balances | 115 | € 109 | |
Other related parties | Other transactions | |||
Other transactions | |||
Financing agreements: loans and capital contributions (lender) | (199) | 26 | |
Financing agreements: loans and capital contributions (borrower) | 7 | 40 | |
Guarantees provided | 680 | 0 | |
Guarantees received | 0 | 0 | |
Commitments acquired | 3 | (2) | |
Dividends and other distributed profit | 10 | 9 | |
Other transactions | € 0 | € 0 |
Off-balance-sheet exposures - S
Off-balance-sheet exposures - Schedule of contingent commitments (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Loan commitments granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | € 283,903 | € 274,075 |
Financial guarantees granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 14,401 | 12,856 |
Bank sureties | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 14,355 | 12,813 |
Credit derivatives sold | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 46 | 43 |
Other commitments granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 113,266 | 92,672 |
Other granted guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 53,651 | 50,508 |
Other | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 59,615 | 42,164 |
Impaired assets | Loan commitments granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 509 | 653 |
Impaired assets | Financial guarantees granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 538 | 521 |
Impaired assets | Other commitments granted | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | € 607 | € 608 |
Off-balance-sheet exposures - N
Off-balance-sheet exposures - Narrative (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Other assets | Next 12 months | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | € 402,019 | € 370,729 |
Other assets | Next 12 months | Contingent liabilities and commitments | ||
Disclosure of contingent liabilities [line items] | ||
Other provisions | 332 | 331 |
Other assets | Lifetime expected credit losses | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 7,897 | 7,092 |
Other assets | Lifetime expected credit losses | Contingent liabilities and commitments | ||
Disclosure of contingent liabilities [line items] | ||
Other provisions | 184 | 191 |
Impaired assets | Lifetime expected credit losses | ||
Disclosure of contingent liabilities [line items] | ||
Exposure to credit risk on loan commitments | 1,654 | 1,782 |
Impaired assets | Lifetime expected credit losses | Contingent liabilities and commitments | ||
Disclosure of contingent liabilities [line items] | ||
Other provisions | € 240 | € 212 |
Average headcount and number _3
Average headcount and number of branches - Schedule of average number of employees (Details) - employees | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Number of employees | ||
Men | 97,353 | 90,747 |
Women | 112,663 | 109,055 |
Average number of employees | 210,016 | 199,802 |
Bank | ||
Number of employees | ||
Men | 12,260 | 11,867 |
Women | 11,732 | 11,355 |
Average number of employees | 23,992 | 23,222 |
Average headcount and number _4
Average headcount and number of branches - Schedule of number of branches (Details) - offices | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of geographical areas [line items] | ||
Number of offices | 8,823 | 9,019 |
Spain | ||
Disclosure of geographical areas [line items] | ||
Number of offices | 1,936 | 1,966 |
Group | ||
Disclosure of geographical areas [line items] | ||
Number of offices | 6,887 | 7,053 |
Other disclosures - Summary of
Other disclosures - Summary of fair values of financial assets and liabilities (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | € 820 | € 925 | € 630 | € 629 |
Financial assets and liabilities, category | Financial liabilities held for trading | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 134,888 | 115,185 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 15,195 | 16,237 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 119,693 | 98,948 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 36,220 | 40,268 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 147 | 212 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 36,073 | 40,056 | ||
Financial assets and liabilities, category | Hedging derivatives | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 10,288 | 9,228 | ||
Financial assets and liabilities, category | Hedging derivatives | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 10,288 | 9,228 | ||
Financial assets and liabilities, category | Financial assets held for trading | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 183,834 | 156,118 | ||
Financial assets and liabilities, category | Financial assets held for trading | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 61,089 | 45,014 | ||
Financial assets and liabilities, category | Financial assets held for trading | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 122,745 | 111,104 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 5,796 | 5,713 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 1,738 | 1,800 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 4,058 | 3,913 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 9,645 | 8,989 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 2,491 | 1,976 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 7,154 | 7,013 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 86,756 | 85,239 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 65,596 | 64,216 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 21,160 | 21,023 | ||
Financial assets and liabilities, category | Hedging derivatives | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 7,532 | 8,069 | ||
Financial assets and liabilities, category | Hedging derivatives | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial assets, at fair value | 7,532 | 8,069 | ||
Liabilities under insurance contracts | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 17,584 | 16,426 | ||
Liabilities under insurance contracts | Published price quotations in active markets (Level 1) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Liabilities under insurance contracts | Internal models (Levels 2 and 3) | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial liabilities, at fair value | € 17,584 | € 16,426 |
Other disclosures - Valuation t
Other disclosures - Valuation techniques for financial assets and liabilities (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Amount of CVA | € 299 | |
Change in CVA (as a percent) | 14.80% | |
Amount of DVA | € 364 | |
Change in DVA (as a percent) | 0% | |
Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gains (losses) recognised in profit or loss | € 178 | € 19 |
Other disclosures - Schedule of
Other disclosures - Schedule of financial instruments at fair value whose measurement was based on internal models (Levels 2 and 3) (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | € 820 | € 925 | € 630 | € 629 |
Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 152,661 | 142,832 | ||
Financial liabilities, at fair value | 182,818 | 163,733 | ||
Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 9,988 | 8,290 | 7,661 | 7,667 |
Financial liabilities, at fair value | 820 | 925 | ||
Financial liabilities held for trading | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 402 | 415 | 211 | 160 |
Financial liabilities held for trading | Exchange rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | 0 | 7 |
Financial liabilities held for trading | Interest rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 22 | 19 | 32 | 26 |
Financial liabilities held for trading | Index and securities options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 63 | 42 | 0 | 67 |
Financial liabilities held for trading | Interest rate and equity futures | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial liabilities held for trading | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 184 | 119 | 58 | 16 |
Financial liabilities designated at fair value through profit or loss (*) | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 151 | 150 | 151 |
Financial assets held for trading | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,040 | 383 | 517 | 537 |
Financial assets held for trading | Derivatives | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 481 | 340 | 488 | 513 |
Financial assets held for trading | Swaps | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 217 | 139 | 216 | 224 |
Financial assets held for trading | Exchange rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 3 | 4 | 13 | 12 |
Financial assets held for trading | Interest rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 29 | 39 | 83 | 182 |
Financial assets held for trading | Index and securities options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 85 | 48 | 2 | 41 |
Financial assets held for trading | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 147 | 110 | 174 | 54 |
Financial assets held for trading | Equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1 | 1 | 1 | 2 |
Financial assets held for trading | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 413 | 42 | 28 | 22 |
Non-trading financial assets mandatorily at fair value through profit or loss | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,912 | 1,833 | 1,945 | 1,865 |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 228 | 239 | 319 | 268 |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,347 | 1,269 | 1,315 | 1,231 |
Non-trading financial assets mandatorily at fair value through profit or loss | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 337 | 325 | 311 | 366 |
Financial assets at fair value through profit and loss | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 417 | 427 | 494 | 418 |
Financial assets at fair value through profit and loss | Credit institutions | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets at fair value through profit and loss | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5 | 5 | 13 | 18 |
Financial assets at fair value through profit and loss | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 412 | 422 | 481 | 400 |
Financial assets at fair value through other comprehensive income | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 6,618 | 5,647 | 4,705 | 4,847 |
Financial assets at fair value through other comprehensive income | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5,859 | 4,718 | 3,788 | 3,880 |
Financial assets at fair value through other comprehensive income | Equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 496 | 700 | 700 | 821 |
Financial assets at fair value through other comprehensive income | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 263 | 229 | € 217 | € 146 |
Financial assets and liabilities, category | Financial liabilities held for trading | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 134,888 | 115,185 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 119,291 | 98,533 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 402 | 415 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Central Banks | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 16,216 | 5,759 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Central Banks | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Credit institutions | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 14,140 | 9,796 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Credit institutions | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Loans and advances to customers | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 19,921 | 12,226 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Derivatives | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 61,567 | 64,147 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Derivatives | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 402 | 415 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Swaps | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 47,317 | 51,191 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Swaps | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 133 | 235 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Exchange rate options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 1,182 | 769 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Exchange rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Interest rate options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 4,524 | 3,268 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Interest rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 22 | 19 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Index and securities options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 599 | 591 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Index and securities options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 63 | 42 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Interest rate and equity futures | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 32 | 807 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Interest rate and equity futures | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Other | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 7,913 | 7,521 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 184 | 119 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Short Positions | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 7,447 | 6,605 | ||
Financial assets and liabilities, category | Financial liabilities held for trading | Short Positions | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 10,288 | 9,228 | ||
Financial assets and liabilities, category | Hedging derivatives | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 10,235 | 9,214 | ||
Financial assets and liabilities, category | Hedging derivatives | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 53 | 14 | ||
Financial assets and liabilities, category | Hedging derivatives | Swaps | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 8,598 | 8,142 | ||
Financial assets and liabilities, category | Hedging derivatives | Swaps | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 53 | 14 | ||
Financial assets and liabilities, category | Hedging derivatives | Other | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 1,637 | 1,072 | ||
Financial assets and liabilities, category | Hedging derivatives | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 36,220 | 40,268 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 36,073 | 39,905 | ||
Financial assets and liabilities, category | Financial liabilities designated at fair value through profit or loss (*) | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 0 | 151 | ||
Financial assets and liabilities, category | Financial assets held for trading | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 183,834 | 156,118 | ||
Financial assets and liabilities, category | Financial assets held for trading | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 121,705 | 110,721 | ||
Financial assets and liabilities, category | Financial assets held for trading | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,040 | 383 | ||
Financial assets and liabilities, category | Financial assets held for trading | Central Banks | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 12,405 | 11,595 | ||
Financial assets and liabilities, category | Financial assets held for trading | Central Banks | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial assets held for trading | Credit institutions | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 23,592 | 16,502 | ||
Financial assets and liabilities, category | Financial assets held for trading | Credit institutions | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial assets held for trading | Loans and advances to customers | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 10,906 | 9,550 | ||
Financial assets and liabilities, category | Financial assets held for trading | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 145 | 0 | ||
Financial assets and liabilities, category | Financial assets held for trading | Debt instruments and equity instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 7,804 | 6,537 | ||
Financial assets and liabilities, category | Financial assets held for trading | Debt instruments and equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 414 | 43 | ||
Financial assets and liabilities, category | Financial assets held for trading | Derivatives | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 66,998 | 66,537 | ||
Financial assets and liabilities, category | Financial assets held for trading | Derivatives | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 481 | 340 | ||
Financial assets and liabilities, category | Financial assets held for trading | Swaps | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 52,475 | 54,367 | ||
Financial assets and liabilities, category | Financial assets held for trading | Swaps | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 217 | 139 | ||
Financial assets and liabilities, category | Financial assets held for trading | Exchange rate options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,229 | 916 | ||
Financial assets and liabilities, category | Financial assets held for trading | Exchange rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 3 | 4 | ||
Financial assets and liabilities, category | Financial assets held for trading | Interest rate options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 4,083 | 2,681 | ||
Financial assets and liabilities, category | Financial assets held for trading | Interest rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 29 | 39 | ||
Financial assets and liabilities, category | Financial assets held for trading | Interest rate futures | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 29 | 113 | ||
Financial assets and liabilities, category | Financial assets held for trading | Interest rate futures | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial assets held for trading | Index and securities options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 339 | 354 | ||
Financial assets and liabilities, category | Financial assets held for trading | Index and securities options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 85 | 48 | ||
Financial assets and liabilities, category | Financial assets held for trading | Other | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 8,843 | 8,106 | ||
Financial assets and liabilities, category | Financial assets held for trading | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 147 | 110 | ||
Financial assets and liabilities, category | Hedging derivatives | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 7,532 | 8,069 | ||
Financial assets and liabilities, category | Hedging derivatives | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 7,531 | 8,069 | ||
Financial assets and liabilities, category | Hedging derivatives | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | Swaps | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 6,828 | 6,687 | ||
Financial assets and liabilities, category | Hedging derivatives | Swaps | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | Interest rate options | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 2 | 2 | ||
Financial assets and liabilities, category | Hedging derivatives | Interest rate options | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Hedging derivatives | Other | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 701 | 1,380 | ||
Financial assets and liabilities, category | Hedging derivatives | Other | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5,796 | 5,713 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 2,146 | 2,080 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,912 | 1,833 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 970 | 643 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 1,347 | 1,269 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Debt instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 551 | 809 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 337 | 325 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 625 | 628 | ||
Financial assets and liabilities, category | Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 228 | 239 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 9,645 | 8,989 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 6,737 | 6,586 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 417 | 427 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Credit institutions | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 626 | 673 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Credit institutions | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 0 | 0 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Loans and advances to customers | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5,925 | 5,769 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Loans and advances to customers | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5 | 5 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Debt instruments and equity instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 186 | 144 | ||
Financial assets and liabilities, category | Financial assets at fair value through profit and loss | Debt instruments and equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 412 | 422 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 86,756 | 85,239 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 14,542 | 15,376 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 6,618 | 5,647 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Equity instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 11 | 9 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Equity instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 496 | 700 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Debt instruments | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 11,373 | 11,869 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Debt instruments | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 263 | 229 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Loans and advances | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 3,158 | 3,498 | ||
Financial assets and liabilities, category | Financial assets at fair value through other comprehensive income | Loans and advances | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial assets, at fair value | 5,859 | 4,718 | ||
Liabilities under insurance contracts | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 17,584 | 16,426 | ||
Liabilities under insurance contracts | Level 2 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | 17,219 | 16,081 | ||
Liabilities under insurance contracts | Level 3 | ||||
Measurement of financial assets and liabilities and recognition of fair value changes | ||||
Financial liabilities, at fair value | € 365 | € 345 |
Other disclosures - Schedule _2
Other disclosures - Schedule of effect on fair value of financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation (Details) - Level 3 € in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | |
Other Valuation Technique | Unfavourable Scenario | Financial liabilities designated at fair value through profit or loss (*) | Repos / Reverse Repos | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value liabilities due to changes in inputs | € (130) | |
Other Valuation Technique | Favourable Scenario | Financial liabilities designated at fair value through profit or loss (*) | Repos / Reverse Repos | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of liabilities due to change in inputs | 0 | |
Local volatility | Unfavourable Scenario | Financial liabilities held for trading | Caps/Floors | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value liabilities due to changes in inputs | € (770) | (290) |
Local volatility | Favourable Scenario | Financial liabilities held for trading | Caps/Floors | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of liabilities due to change in inputs | € 300 | € 180 |
Minimum | Volatility | Local volatility | Financial liabilities held for trading | Caps/Floors | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, liabilities | 0.10 | 0.10 |
Maximum | Volatility | Local volatility | Financial liabilities held for trading | Caps/Floors | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, liabilities | 0.90 | 0.90 |
Weighted average | Volatility | Local volatility | Financial liabilities held for trading | Caps/Floors | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, liabilities | 0.3237 | 0.4073 |
Repos / Reverse Repos | Other Valuation Technique | Favourable Scenario | Financial assets held for trading | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 0 | |
Financial assets held for trading | Repos / Reverse Repos | Other Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (40) | |
Financial assets held for trading | Corporate Debt | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (1,510) | € (1,380) |
Financial assets held for trading | Corporate Debt | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 1,540 | 1,400 |
Financial assets held for trading | Corporate Debt | Price Based Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | 0 | 0 |
Financial assets held for trading | Corporate Debt | Price Based Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 0 | € 0 |
Financial assets held for trading | Corporate Debt | Minimum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Corporate Debt | Minimum | Market price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.85 | 0.85 |
Financial assets held for trading | Corporate Debt | Maximum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.10 | 0.20 |
Financial assets held for trading | Corporate Debt | Maximum | Market price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1.15 | 1.15 |
Financial assets held for trading | Corporate Debt | Weighted average | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0504 | 0.1007 |
Financial assets held for trading | Corporate Debt | Weighted average | Market price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1 | 1 |
Financial assets held for trading | Government debt | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (8,250) | € (8,340) |
Financial assets held for trading | Government debt | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 7,970 | € 8,070 |
Financial assets held for trading | Government debt | Minimum | Discount curve | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Government debt | Maximum | Discount curve | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.08 | 0.10 |
Financial assets held for trading | Government debt | Weighted average | Discount curve | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0393 | 0.0492 |
Financial assets held for trading | Currency swap contract | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € 0 | € 0 |
Financial assets held for trading | Currency swap contract | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 0 | 0 |
Financial assets held for trading | Currency swap contract | Forward Estimation Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (40) | (60) |
Financial assets held for trading | Currency swap contract | Forward Estimation Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 70 | € 70 |
Financial assets held for trading | Currency swap contract | Minimum | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.014) | (0.0070) |
Financial assets held for trading | Currency swap contract | Minimum | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0006) | (0.0004) |
Financial assets held for trading | Currency swap contract | Maximum | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.014 | 0.0070 |
Financial assets held for trading | Currency swap contract | Maximum | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0006 | 0.0004 |
Financial assets held for trading | Currency swap contract | Weighted average | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Currency swap contract | Weighted average | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.000232 | 0.000042 |
Financial assets held for trading | Credit Default Swap | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (50) | |
Financial assets held for trading | Credit Default Swap | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 20 | |
Financial assets held for trading | Credit Default Swap | Minimum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.001490 | |
Financial assets held for trading | Credit Default Swap | Maximum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.004210 | |
Financial assets held for trading | Credit Default Swap | Weighted average | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.002199 | |
Financial assets held for trading | EQ Options | EQ Option Pricing Model Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (380) | € (230) |
Financial assets held for trading | EQ Options | EQ Option Pricing Model Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 840 | 480 |
Financial assets held for trading | EQ Options | Local Volatility Option Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (1,910) | (1,050) |
Financial assets held for trading | EQ Options | Local Volatility Option Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 1,910 | € 1,050 |
Financial assets held for trading | EQ Options | Minimum | Volatility | EQ Option Pricing Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | EQ Options | Minimum | Volatility | Local Volatility Option Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.10 | 0.10 |
Financial assets held for trading | EQ Options | Maximum | Volatility | EQ Option Pricing Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.90 | 0.90 |
Financial assets held for trading | EQ Options | Maximum | Volatility | Local Volatility Option Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.90 | 0.90 |
Financial assets held for trading | EQ Options | Weighted average | Volatility | EQ Option Pricing Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.6130 | 0.6130 |
Financial assets held for trading | EQ Options | Weighted average | Volatility | Local Volatility Option Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.5000 | 0.5000 |
Financial assets held for trading | Forward Rate Agreement | Asset Swap Model Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (940) | € (1,160) |
Financial assets held for trading | Forward Rate Agreement | Asset Swap Model Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 780 | € 950 |
Financial assets held for trading | Forward Rate Agreement | Minimum | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Forward Rate Agreement | Maximum | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.06 | 0.06 |
Financial assets held for trading | Forward Rate Agreement | Weighted average | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0271 | 0.0271 |
Financial assets held for trading | Foreign Exchange Swap | Other Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (1,370) | |
Financial assets held for trading | Foreign Exchange Swap | Other Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 1,370 | |
Financial assets held for trading | Inflation Derivatives | Asset Swap Model Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (290) | (210) |
Financial assets held for trading | Inflation Derivatives | Asset Swap Model Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 150 | 110 |
Financial assets held for trading | Inflation Derivatives | Local volatility | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (140) | |
Financial assets held for trading | Inflation Derivatives | Local volatility | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 110 | |
Financial assets held for trading | Inflation Derivatives | Minimum | Volatility | Local volatility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | |
Financial assets held for trading | Inflation Derivatives | Minimum | Inflation Swap Rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Inflation Derivatives | Maximum | Volatility | Local volatility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.40 | |
Financial assets held for trading | Inflation Derivatives | Maximum | Inflation Swap Rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.10 | 0.10 |
Financial assets held for trading | Inflation Derivatives | Weighted average | Volatility | Local volatility | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.1737 | |
Financial assets held for trading | Inflation Derivatives | Weighted average | Inflation Swap Rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0341 | 0.0341 |
Financial assets held for trading | IR Options | Interest Rate Option Pricing Model | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (260) | € (300) |
Financial assets held for trading | IR Options | Interest Rate Option Pricing Model | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 380 | € 440 |
Financial assets held for trading | IR Options | Minimum | Volatility | Interest Rate Option Pricing Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | IR Options | Maximum | Volatility | Interest Rate Option Pricing Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.60 | 0.60 |
Financial assets held for trading | IR Options | Weighted average | Volatility | Interest Rate Option Pricing Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.3582 | 0.3582 |
Financial assets held for trading | Interest rate swap contract | Forward Estimation Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (40) | € (40) |
Financial assets held for trading | Interest rate swap contract | Forward Estimation Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 50 | 40 |
Financial assets held for trading | Interest rate swap contract | Asset Swap Model Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (50) | (50) |
Financial assets held for trading | Interest rate swap contract | Asset Swap Model Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 80 | 80 |
Financial assets held for trading | Interest rate swap contract | Other Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (690) | (11,580) |
Financial assets held for trading | Interest rate swap contract | Other Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 280 | 0 |
Financial assets held for trading | Interest rate swap contract | Discounted Cash Flows on credit spread | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (1,800) | (2,250) |
Financial assets held for trading | Interest rate swap contract | Discounted Cash Flows on credit spread | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 1,950 | 2,470 |
Financial assets held for trading | Interest rate swap contract | Discounted Cash Flows on swap rate | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (540) | (20) |
Financial assets held for trading | Interest rate swap contract | Discounted Cash Flows on swap rate | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 530 | 30 |
Financial assets held for trading | Interest rate swap contract | Prepayment Modeling Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | 0 | (60) |
Financial assets held for trading | Interest rate swap contract | Prepayment Modeling Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 160 | € 50 |
Financial assets held for trading | Interest rate swap contract | Minimum | Credit spread | Discounted Cash Flows on credit spread | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.011 | 0.0125 |
Financial assets held for trading | Interest rate swap contract | Minimum | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0006) | (0.0006) |
Financial assets held for trading | Interest rate swap contract | Minimum | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Interest rate swap contract | Minimum | Swap rate | Discounted Cash Flows on swap rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.082 | 0.086 |
Financial assets held for trading | Interest rate swap contract | Minimum | Others | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | 0.05 |
Financial assets held for trading | Interest rate swap contract | Minimum | Prepayment rate | Prepayment Modeling Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.031 | 0.025 |
Financial assets held for trading | Interest rate swap contract | Maximum | Credit spread | Discounted Cash Flows on credit spread | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.058 | 0.0629 |
Financial assets held for trading | Interest rate swap contract | Maximum | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0006 | 0.0006 |
Financial assets held for trading | Interest rate swap contract | Maximum | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.15 | 0.15 |
Financial assets held for trading | Interest rate swap contract | Maximum | Swap rate | Discounted Cash Flows on swap rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.087 | 0.091 |
Financial assets held for trading | Interest rate swap contract | Maximum | Prepayment rate | Prepayment Modeling Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.057 | 0.062 |
Financial assets held for trading | Interest rate swap contract | Weighted average | Credit spread | Discounted Cash Flows on credit spread | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0367 | 0.0389 |
Financial assets held for trading | Interest rate swap contract | Weighted average | Interest rate | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.000012 | 0.000013 |
Financial assets held for trading | Interest rate swap contract | Weighted average | Interest rate | Asset Swap Model Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0920 | 0.0920 |
Financial assets held for trading | Interest rate swap contract | Weighted average | Swap rate | Discounted Cash Flows on swap rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0844 | 0.0884 |
Financial assets held for trading | Interest rate swap contract | Weighted average | Prepayment rate | Prepayment Modeling Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0433 | 0.0417 |
Financial assets held for trading | Other Derivatives | Forward Estimation Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (460) | € (530) |
Financial assets held for trading | Other Derivatives | Forward Estimation Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 200 | € 240 |
Financial assets held for trading | Other Derivatives | Minimum | Price | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets held for trading | Other Derivatives | Maximum | Price | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.02 | 0.02 |
Financial assets held for trading | Other Derivatives | Weighted average | Price | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0062 | 0.0062 |
Financial assets held for trading | Property Derivatives | Option pricing model | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (4,080) | € (5,750) |
Financial assets held for trading | Property Derivatives | Option pricing model | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 4,080 | € 5,750 |
Financial assets held for trading | Property Derivatives | Minimum | Growth rate | Option pricing model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.05) | (0.05) |
Financial assets held for trading | Property Derivatives | Maximum | Growth rate | Option pricing model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | 0.05 |
Financial assets held for trading | Property Derivatives | Weighted average | Growth rate | Option pricing model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets at fair value through profit and loss | Repos / Reverse Repos | Other Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € 0 | |
Financial assets at fair value through profit and loss | Repos / Reverse Repos | Other Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 0 | |
Financial assets at fair value through profit and loss | Repos / Reverse Repos | Minimum | Repo Curve, Measurement Input | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.00048 | |
Financial assets at fair value through profit and loss | Repos / Reverse Repos | Maximum | Repo Curve, Measurement Input | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.00067 | |
Financial assets at fair value through profit and loss | Repos / Reverse Repos | Weighted average | Repo Curve, Measurement Input | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.000563 | |
Financial assets at fair value through profit and loss | Loans | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (150) | € (180) |
Financial assets at fair value through profit and loss | Loans | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 150 | € 180 |
Financial assets at fair value through profit and loss | Loans | Minimum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.001 | 0.001 |
Financial assets at fair value through profit and loss | Loans | Maximum | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.02 | 0.02 |
Financial assets at fair value through profit and loss | Loans | Weighted average | Credit spread | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0105 | 0.0105 |
Financial assets at fair value through profit and loss | Mortgage Portfolio | Black Scholes Model | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (470) | € (790) |
Financial assets at fair value through profit and loss | Mortgage Portfolio | Black Scholes Model | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 470 | € 790 |
Financial assets at fair value through profit and loss | Mortgage Portfolio | Minimum | Growth rate | Black Scholes Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.05) | (0.05) |
Financial assets at fair value through profit and loss | Mortgage Portfolio | Maximum | Growth rate | Black Scholes Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | 0.05 |
Financial assets at fair value through profit and loss | Mortgage Portfolio | Weighted average | Growth rate | Black Scholes Model | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets at fair value through profit and loss | Other Debt Securities | Other Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (4,510) | € (4,250) |
Financial assets at fair value through profit and loss | Other Debt Securities | Other Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 4,240 | € 3,830 |
Financial assets at fair value through profit and loss | Other Debt Securities | Minimum | Inflation Swap Rate | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets at fair value through profit and loss | Other Debt Securities | Maximum | Inflation Swap Rate | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.08 | 0.10 |
Financial assets at fair value through profit and loss | Other Debt Securities | Weighted average | Inflation Swap Rate | Other Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0388 | 0.0474 |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (330) | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 330 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Probability Weighting Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (680) | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Probability Weighting Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 680 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Minimum | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.05) | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Minimum | Margin of a reference portfolio | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0001) | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Maximum | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Maximum | Margin of a reference portfolio | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0001 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Weighted average | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Corporate Debt | Weighted average | Margin of a reference portfolio | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.000001 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Price Based Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (134,660) | € (126,870) |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Price Based Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 134,660 | € 126,870 |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Minimum | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.90 | 0.90 |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Maximum | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1.10 | 1.10 |
Non-trading financial assets mandatorily at fair value through profit or loss | Equity instruments | Weighted average | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1 | 1 |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Probability Weighting Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (470) | |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Probability Weighting Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 470 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Minimum | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Maximum | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.05 | |
Non-trading financial assets mandatorily at fair value through profit or loss | Loans and advances to customers | Weighted average | Growth rate | Probability Weighting Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | |
Financial assets at fair value through other comprehensive income | Corporate Debt | Discounted Cash Flows On Margin Of A Reference Portfolio | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (520) | |
Financial assets at fair value through other comprehensive income | Corporate Debt | Discounted Cash Flows On Margin Of A Reference Portfolio | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 520 | |
Financial assets at fair value through other comprehensive income | Corporate Debt | Minimum | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0001) | |
Financial assets at fair value through other comprehensive income | Corporate Debt | Maximum | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0001 | |
Financial assets at fair value through other comprehensive income | Corporate Debt | Weighted average | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | |
Financial assets at fair value through other comprehensive income | Government debt | Discounted cash flow | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (10) | |
Financial assets at fair value through other comprehensive income | Government debt | Discounted cash flow | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 10 | |
Financial assets at fair value through other comprehensive income | Government debt | Interest rate | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (10) | |
Financial assets at fair value through other comprehensive income | Government debt | Interest rate | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 10 | |
Financial assets at fair value through other comprehensive income | Government debt | Minimum | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.004) | |
Financial assets at fair value through other comprehensive income | Government debt | Minimum | Interest rate | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.019) | |
Financial assets at fair value through other comprehensive income | Government debt | Maximum | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.016 | |
Financial assets at fair value through other comprehensive income | Government debt | Maximum | Interest rate | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.001 | |
Financial assets at fair value through other comprehensive income | Government debt | Weighted average | Interest rate | Discounted cash flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0063 | |
Financial assets at fair value through other comprehensive income | Government debt | Weighted average | Interest rate | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0087) | |
Financial assets at fair value through other comprehensive income | Loans | Forward Estimation Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (680) | € (490) |
Financial assets at fair value through other comprehensive income | Loans | Forward Estimation Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 0 | 0 |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows on credit spread | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (22,170) | (24,100) |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows on credit spread | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 0 | 0 |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows On Interest Rate Curve | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (860) | (80) |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows On Interest Rate Curve | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | 860 | 80 |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows On Margin Of A Reference Portfolio | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | (22,800) | (17,510) |
Financial assets at fair value through other comprehensive income | Loans | Discounted Cash Flows On Margin Of A Reference Portfolio | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 22,800 | € 17,510 |
Financial assets at fair value through other comprehensive income | Loans | Minimum | Credit spread | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0168 | 0.0256 |
Financial assets at fair value through other comprehensive income | Loans | Minimum | Interest rate | Discounted Cash Flows On Interest Rate Curve | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.08 | 0.008 |
Financial assets at fair value through other comprehensive income | Loans | Minimum | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | (0.0001) | (0.0001) |
Financial assets at fair value through other comprehensive income | Loans | Maximum | Credit spread | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.027 | 0.0340 |
Financial assets at fair value through other comprehensive income | Loans | Maximum | Interest rate | Discounted Cash Flows On Interest Rate Curve | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.09 | 0.010 |
Financial assets at fair value through other comprehensive income | Loans | Maximum | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0001 | 0.0001 |
Financial assets at fair value through other comprehensive income | Loans | Weighted average | Credit spread | Forward Estimation Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0168 | 0.0256 |
Financial assets at fair value through other comprehensive income | Loans | Weighted average | Interest rate | Discounted Cash Flows On Interest Rate Curve | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.0860 | 0.0088 |
Financial assets at fair value through other comprehensive income | Loans | Weighted average | Margin of a reference portfolio | Discounted Cash Flows On Margin Of A Reference Portfolio | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0 | 0 |
Financial assets at fair value through other comprehensive income | Equity instruments | Price Based Valuation Technique | Unfavourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease in fair value assets due to changes in inputs | € (49,630) | € (70,040) |
Financial assets at fair value through other comprehensive income | Equity instruments | Price Based Valuation Technique | Favourable Scenario | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in fair value of assets due to change in inputs | € 49,630 | € 70,040 |
Financial assets at fair value through other comprehensive income | Equity instruments | Minimum | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 0.90 | 0.90 |
Financial assets at fair value through other comprehensive income | Equity instruments | Maximum | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1.10 | 1.10 |
Financial assets at fair value through other comprehensive income | Equity instruments | Weighted average | Price | Price Based Valuation Technique | ||
Disclosure of detailed information about financial instruments [line items] | ||
Significant unobservable input, assets | 1 | 1 |
Other disclosures - Schedule _3
Other disclosures - Schedule of changes in financial instruments classified as Level 3 (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | € 925 | € 629 |
Purchases/Settlements | 304 | 84 |
Sales/Amortisation | (106) | (160) |
Changes in fair value recognized in profit or loss | (93) | 43 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (82) | (14) |
Other | (128) | 48 |
Financial liabilities, at fair value, period ending | 820 | 630 |
Level 3 | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 8,290 | 7,667 |
Purchases/Settlements | 4,558 | 5,103 |
Sales/Amortisation | (3,783) | (5,417) |
Changes in fair value recognized in profit or loss | 85 | 62 |
Changes in fair value recognised in equity | (222) | (191) |
Level reclassifications | 809 | 174 |
Other | 251 | 263 |
Financial assets, at fair value, period ending | 9,988 | 7,661 |
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 925 | |
Financial liabilities, at fair value, period ending | 820 | |
Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 415 | 160 |
Purchases/Settlements | 304 | 84 |
Sales/Amortisation | (101) | (61) |
Changes in fair value recognized in profit or loss | (91) | 42 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (118) | (14) |
Other | (7) | 0 |
Financial liabilities, at fair value, period ending | 402 | 211 |
Level 3 | Hedging instruments [member] | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 14 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 3 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 36 | |
Other | 0 | |
Financial liabilities, at fair value, period ending | 53 | |
Level 3 | Financial liabilities designated at fair value through profit or loss (*) | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 151 | 151 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | (5) | (2) |
Changes in fair value recognized in profit or loss | 1 | 1 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | 0 |
Other | (147) | 0 |
Financial liabilities, at fair value, period ending | 0 | 150 |
Level 3 | Liabilities covered by insurance and reinsurance contracts (*) | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 345 | 318 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | (97) |
Changes in fair value recognized in profit or loss | (6) | 0 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | 0 |
Other | 26 | 48 |
Financial liabilities, at fair value, period ending | 365 | 269 |
Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 383 | 537 |
Purchases/Settlements | 198 | 29 |
Sales/Amortisation | (72) | (9) |
Changes in fair value recognized in profit or loss | 77 | (52) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (2) | |
Level reclassifications | 303 | |
Other | 151 | 14 |
Financial assets, at fair value, period ending | 1,040 | 517 |
Level 3 | Financial assets at fair value through profit and loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 427 | 418 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | (3) |
Changes in fair value recognized in profit or loss | (40) | 4 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 30 | 75 |
Financial assets, at fair value, period ending | 417 | 494 |
Level 3 | Non-trading financial assets mandatorily at fair value through profit or loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 1,833 | 1,865 |
Purchases/Settlements | 163 | 112 |
Sales/Amortisation | (116) | (218) |
Changes in fair value recognized in profit or loss | 48 | 110 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (29) | |
Level reclassifications | 0 | |
Other | (16) | 105 |
Financial assets, at fair value, period ending | 1,912 | 1,945 |
Level 3 | Financial assets at fair value through other comprehensive income | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 5,647 | 4,847 |
Purchases/Settlements | 4,197 | 4,962 |
Sales/Amortisation | (3,595) | (5,187) |
Changes in fair value recognized in profit or loss | 0 | 0 |
Changes in fair value recognised in equity | (222) | (191) |
Level reclassifications | 505 | 205 |
Other | 86 | 69 |
Financial assets, at fair value, period ending | 6,618 | 4,705 |
Level 3 | Hedging instruments [member] | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 0 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 0 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 1 | |
Other | 0 | |
Financial assets, at fair value, period ending | 1 | |
Trading derivatives | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 415 | 160 |
Purchases/Settlements | 304 | 84 |
Sales/Amortisation | (101) | (61) |
Changes in fair value recognized in profit or loss | (91) | 42 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (118) | (14) |
Other | (7) | 0 |
Financial liabilities, at fair value, period ending | 402 | 211 |
Swaps | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 235 | 44 |
Purchases/Settlements | 104 | 15 |
Sales/Amortisation | (70) | (5) |
Changes in fair value recognized in profit or loss | (25) | 80 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (97) | 0 |
Other | (14) | (13) |
Financial liabilities, at fair value, period ending | 133 | 121 |
Exchange rate options | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 0 | 7 |
Purchases/Settlements | 24 | 6 |
Sales/Amortisation | (24) | (14) |
Changes in fair value recognized in profit or loss | 0 | 1 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | 0 |
Other | 0 | 0 |
Financial liabilities, at fair value, period ending | 0 | 0 |
Interest rate options | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 19 | 26 |
Purchases/Settlements | 7 | 42 |
Sales/Amortisation | (1) | (20) |
Changes in fair value recognized in profit or loss | (3) | (16) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | 0 |
Other | 0 | 0 |
Financial liabilities, at fair value, period ending | 22 | 32 |
Index and securities options | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 42 | 67 |
Purchases/Settlements | 38 | 0 |
Sales/Amortisation | (6) | (2) |
Changes in fair value recognized in profit or loss | 3 | 0 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (21) | 0 |
Other | 7 | (65) |
Financial liabilities, at fair value, period ending | 63 | 0 |
Interest rate and equity futures | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 0 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 0 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 0 | |
Other | 0 | |
Financial liabilities, at fair value, period ending | 0 | |
Other | Level 3 | Financial liabilities held for trading | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 119 | 16 |
Purchases/Settlements | 131 | 21 |
Sales/Amortisation | 0 | (20) |
Changes in fair value recognized in profit or loss | (66) | (23) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | (14) |
Other | 0 | 78 |
Financial liabilities, at fair value, period ending | 184 | 58 |
Swaps | Level 3 | Hedging instruments [member] | ||
Changes in financial instruments, Liabilities | ||
Financial liabilities, at fair value, beginning period | 14 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 3 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 36 | |
Other | 0 | |
Financial liabilities, at fair value, period ending | 53 | |
Debt instruments | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 42 | 22 |
Purchases/Settlements | 52 | 0 |
Sales/Amortisation | (4) | 0 |
Changes in fair value recognized in profit or loss | 1 | 1 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 316 | |
Other | 6 | 5 |
Financial assets, at fair value, period ending | 413 | 28 |
Debt instruments | Level 3 | Financial assets at fair value through profit and loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 422 | 400 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | 0 |
Changes in fair value recognized in profit or loss | (40) | 6 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 30 | 75 |
Financial assets, at fair value, period ending | 412 | 481 |
Debt instruments | Level 3 | Non-trading financial assets mandatorily at fair value through profit or loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 325 | 366 |
Purchases/Settlements | 32 | 0 |
Sales/Amortisation | (25) | (25) |
Changes in fair value recognized in profit or loss | 3 | (3) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (29) | |
Level reclassifications | 0 | |
Other | 2 | 2 |
Financial assets, at fair value, period ending | 337 | 311 |
Debt instruments | Level 3 | Financial assets at fair value through other comprehensive income | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 229 | 146 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | (3) | (1) |
Changes in fair value recognized in profit or loss | 0 | 0 |
Changes in fair value recognised in equity | (1) | 9 |
Level reclassifications | 0 | |
Level reclassifications | 32 | |
Other | 6 | 63 |
Financial assets, at fair value, period ending | 263 | 217 |
Equity instruments | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 1 | 2 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | 0 |
Changes in fair value recognized in profit or loss | 0 | (1) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 0 | 0 |
Financial assets, at fair value, period ending | 1 | 1 |
Equity instruments | Level 3 | Non-trading financial assets mandatorily at fair value through profit or loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 1,269 | 1,231 |
Purchases/Settlements | 72 | 92 |
Sales/Amortisation | (28) | (126) |
Changes in fair value recognized in profit or loss | 61 | 73 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | (27) | 45 |
Financial assets, at fair value, period ending | 1,347 | 1,315 |
Equity instruments | Level 3 | Financial assets at fair value through other comprehensive income | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 700 | 821 |
Purchases/Settlements | 1 | 2 |
Sales/Amortisation | (2) | (9) |
Changes in fair value recognized in profit or loss | 0 | 0 |
Changes in fair value recognised in equity | (244) | (183) |
Level reclassifications | 0 | 68 |
Other | 41 | 1 |
Financial assets, at fair value, period ending | 496 | 700 |
Trading derivatives | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 340 | 513 |
Purchases/Settlements | 146 | 29 |
Sales/Amortisation | (68) | (9) |
Changes in fair value recognized in profit or loss | 77 | (52) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (13) | (2) |
Other | (1) | 9 |
Financial assets, at fair value, period ending | 481 | 488 |
Swaps | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 139 | 224 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | (3) | 0 |
Changes in fair value recognized in profit or loss | 93 | 5 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | (12) | (13) |
Financial assets, at fair value, period ending | 217 | 216 |
Swaps | Level 3 | Hedging instruments [member] | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 0 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 0 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 1 | |
Other | 0 | |
Financial assets, at fair value, period ending | 1 | |
Exchange rate options | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 4 | 12 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | (9) |
Changes in fair value recognized in profit or loss | (1) | 11 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 0 | (1) |
Financial assets, at fair value, period ending | 3 | 13 |
Interest rate options | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 39 | 182 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | 0 |
Changes in fair value recognized in profit or loss | (10) | (98) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (1) | |
Level reclassifications | 0 | |
Other | 0 | 0 |
Financial assets, at fair value, period ending | 29 | 83 |
Index and securities options | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 48 | 41 |
Purchases/Settlements | 52 | 0 |
Sales/Amortisation | 0 | 0 |
Changes in fair value recognized in profit or loss | 3 | 1 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (23) | 0 |
Other | 5 | (40) |
Financial assets, at fair value, period ending | 85 | 2 |
Other | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 110 | 54 |
Purchases/Settlements | 94 | 29 |
Sales/Amortisation | (65) | 0 |
Changes in fair value recognized in profit or loss | (8) | 29 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | (1) | |
Level reclassifications | 10 | |
Other | 6 | 63 |
Financial assets, at fair value, period ending | 147 | 174 |
Credit institutions | Level 3 | Financial assets at fair value through profit and loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 0 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | 0 | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 0 | |
Other | 0 | |
Financial assets, at fair value, period ending | 0 | |
Loans and advances to customers | Level 3 | Financial assets at fair value through profit and loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 5 | 18 |
Purchases/Settlements | 0 | 0 |
Sales/Amortisation | 0 | (3) |
Changes in fair value recognized in profit or loss | 0 | (2) |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 0 | 0 |
Financial assets, at fair value, period ending | 5 | 13 |
Loans and advances to customers | Level 3 | Non-trading financial assets mandatorily at fair value through profit or loss | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 239 | 268 |
Purchases/Settlements | 59 | 20 |
Sales/Amortisation | (63) | (67) |
Changes in fair value recognized in profit or loss | (16) | 40 |
Changes in fair value recognised in equity | 0 | 0 |
Level reclassifications | 0 | |
Level reclassifications | 0 | |
Other | 9 | 58 |
Financial assets, at fair value, period ending | 228 | 319 |
Loans and advances to customers | Level 3 | Financial assets at fair value through other comprehensive income | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 4,718 | 3,880 |
Purchases/Settlements | 4,196 | 4,960 |
Sales/Amortisation | (3,590) | (5,177) |
Changes in fair value recognized in profit or loss | 0 | 0 |
Changes in fair value recognised in equity | 23 | (17) |
Level reclassifications | 473 | 137 |
Other | 39 | 5 |
Financial assets, at fair value, period ending | 5,859 | € 3,788 |
Customers [member] | Level 3 | Financial assets held for trading | ||
Changes in financial instruments, Assets | ||
Financial assets, at fair value, beginning period | 0 | |
Purchases/Settlements | 0 | |
Sales/Amortisation | 0 | |
Changes in fair value recognized in profit or loss | (1) | |
Changes in fair value recognised in equity | 0 | |
Level reclassifications | 0 | |
Other | 146 | |
Financial assets, at fair value, period ending | € 145 |
Other disclosures - Schedule _4
Other disclosures - Schedule of forborne loans (Details) - Credit risk - Forborne loan portfolio € in Millions | Jun. 30, 2023 EUR (€) contract | Dec. 31, 2022 EUR (€) contract |
Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 6,098,282 | 6,199,278 |
With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 574,719 | 553,051 |
Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 9,258 | € 9,715 |
Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 5,620 | € 5,422 |
Credit entities | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 0 | |
Credit entities | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 0 | |
Credit entities | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | |
Credit entities | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | |
Public sector | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 10,578 | 6,679 |
Public sector | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 36 | 31 |
Public sector | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 2 | € 2 |
Public sector | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | € 0 |
Other financial institutions and: individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 1,197 | 1,210 |
Other financial institutions and: individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 1,034 | 785 |
Other financial institutions and: individual shareholder | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 72 | € 88 |
Other financial institutions and: individual shareholder | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 129 | € 86 |
Non financial institutions and individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 304,058 | 312,934 |
Non financial institutions and individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 60,027 | 60,003 |
Non financial institutions and individual shareholder | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 4,377 | € 4,790 |
Non financial institutions and individual shareholder | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 1,750 | € 1,834 |
Of which: Financing for constructions and property development | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 16,476 | 15,578 |
Of which: Financing for constructions and property development | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 2,111 | 1,890 |
Of which: Financing for constructions and property development | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 421 | € 423 |
Of which: Financing for constructions and property development | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 37 | € 48 |
Other warehouses | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 5,782,449 | 5,878,455 |
Other warehouses | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 513,622 | 492,232 |
Other warehouses | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 4,807 | € 4,835 |
Other warehouses | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | 3,741 | 3,502 |
Gross carrying amount | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 15,959 | 15,916 |
Gross carrying amount | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 17,593 | 18,257 |
Gross carrying amount | Credit entities | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Gross carrying amount | Credit entities | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Gross carrying amount | Public sector | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 364 | 227 |
Gross carrying amount | Public sector | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 5 | 7 |
Gross carrying amount | Other financial institutions and: individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 168 | 321 |
Gross carrying amount | Other financial institutions and: individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 347 | 339 |
Gross carrying amount | Non financial institutions and individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 8,550 | 9,578 |
Gross carrying amount | Non financial institutions and individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 7,652 | 8,419 |
Gross carrying amount | Of which: Financing for constructions and property development | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 138 | 125 |
Gross carrying amount | Of which: Financing for constructions and property development | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 528 | 570 |
Gross carrying amount | Other warehouses | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 6,877 | 5,790 |
Gross carrying amount | Other warehouses | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 9,589 | 9,492 |
Accumulated impairment | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 8,218 | 8,266 |
Accumulated impairment | Credit entities | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Accumulated impairment | Public sector | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3 | 6 |
Accumulated impairment | Other financial institutions and: individual shareholder | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 74 | 61 |
Accumulated impairment | Non financial institutions and individual shareholder | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3,504 | 3,912 |
Accumulated impairment | Of which: Financing for constructions and property development | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 169 | 208 |
Accumulated impairment | Other warehouses | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | € 4,637 | € 4,287 |
Credit impaired | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 3,259,569 | 3,910,360 |
Credit impaired | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 308,086 | 286,863 |
Credit impaired | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 4,277 | € 4,682 |
Credit impaired | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 2,714 | € 1,802 |
Credit impaired | Credit entities | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 0 | |
Credit impaired | Credit entities | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 0 | |
Credit impaired | Credit entities | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | |
Credit impaired | Credit entities | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | |
Credit impaired | Public sector | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 9 | 7 |
Credit impaired | Public sector | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 9 | 13 |
Credit impaired | Public sector | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | € 2 |
Credit impaired | Public sector | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 0 | € 0 |
Credit impaired | Other financial institutions and: individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 622 | 641 |
Credit impaired | Other financial institutions and: individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 660 | 620 |
Credit impaired | Other financial institutions and: individual shareholder | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 19 | € 22 |
Credit impaired | Other financial institutions and: individual shareholder | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 48 | € 6 |
Credit impaired | Non financial institutions and individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 160,329 | 174,300 |
Credit impaired | Non financial institutions and individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 39,771 | 39,479 |
Credit impaired | Non financial institutions and individual shareholder | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 2,371 | € 2,741 |
Credit impaired | Non financial institutions and individual shareholder | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 861 | € 886 |
Credit impaired | Of which: Financing for constructions and property development | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 9,867 | 10,325 |
Credit impaired | Of which: Financing for constructions and property development | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 1,281 | 1,255 |
Credit impaired | Of which: Financing for constructions and property development | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 194 | € 213 |
Credit impaired | Of which: Financing for constructions and property development | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 15 | € 33 |
Credit impaired | Other warehouses | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 3,098,609 | 3,735,412 |
Credit impaired | Other warehouses | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Number of transactions/operations | contract | 267,646 | 246,751 |
Credit impaired | Other warehouses | Mortgage guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | € 1,887 | € 1,917 |
Credit impaired | Other warehouses | Other guarantees | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Maximum amount of the actual collateral that can be considered | 1,805 | 910 |
Credit impaired | Gross carrying amount | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 6,142 | 6,100 |
Credit impaired | Gross carrying amount | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 8,910 | 9,085 |
Credit impaired | Gross carrying amount | Credit entities | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Credit impaired | Gross carrying amount | Credit entities | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Credit impaired | Gross carrying amount | Public sector | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3 | 2 |
Credit impaired | Gross carrying amount | Public sector | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | 5 |
Credit impaired | Gross carrying amount | Other financial institutions and: individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 69 | 9 |
Credit impaired | Gross carrying amount | Other financial institutions and: individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 158 | 135 |
Credit impaired | Gross carrying amount | Non financial institutions and individual shareholder | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3,050 | 3,178 |
Credit impaired | Gross carrying amount | Non financial institutions and individual shareholder | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 4,260 | 4,890 |
Credit impaired | Gross carrying amount | Of which: Financing for constructions and property development | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 88 | 78 |
Credit impaired | Gross carrying amount | Of which: Financing for constructions and property development | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 260 | 335 |
Credit impaired | Gross carrying amount | Other warehouses | Without real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3,020 | 2,911 |
Credit impaired | Gross carrying amount | Other warehouses | With real guarantee | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 4,492 | 4,055 |
Credit impaired | Accumulated impairment | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 6,512 | 6,621 |
Credit impaired | Accumulated impairment | Credit entities | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 0 | |
Credit impaired | Accumulated impairment | Public sector | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3 | 5 |
Credit impaired | Accumulated impairment | Other financial institutions and: individual shareholder | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 58 | 55 |
Credit impaired | Accumulated impairment | Non financial institutions and individual shareholder | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 3,010 | 3,439 |
Credit impaired | Accumulated impairment | Of which: Financing for constructions and property development | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | 145 | 188 |
Credit impaired | Accumulated impairment | Other warehouses | ||
CURRENT REFINANCING AND RESTRUCTURING BALANCES | ||
Loans and receivables | € 3,441 | € 3,122 |
Other disclosures - Disclosure
Other disclosures - Disclosure of home purchase loans in Spain (Details) - Home purchase loans - Spain - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of credit risk exposure [line items] | ||
Percentage secured by mortgage | 99.63% | |
Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 61,606 | € 63,688 |
Gross carrying amount | Without real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 229 | 288 |
Gross carrying amount | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,377 | 63,400 |
Credit impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 987 | 1,088 |
Credit impaired | Gross carrying amount | Without real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14 | 24 |
Credit impaired | Gross carrying amount | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 973 | € 1,064 |
Other disclosures - Real estate
Other disclosures - Real estate business - Spain (Details) - Home purchase loans - Spain | 6 Months Ended |
Jun. 30, 2023 | |
Less than 80 % | |
Disclosure of credit risk exposure [line items] | |
Percentage of portfolio with LTV less than 80% | 94.04% |
Weighted average | |
Disclosure of credit risk exposure [line items] | |
Affordability rate | 29% |
Maximum | Less than 80 % | |
Disclosure of credit risk exposure [line items] | |
Loan-to-value (LTV) ratio (in percentage) | 80% |
Other disclosures - Disclosur_2
Other disclosures - Disclosure of gross exposure by stages of impairment (Details) - Home purchase loans - Spain - Gross carrying amount - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 61,606 | € 63,688 |
With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,377 | 63,400 |
Less than or equal to 40% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 18,444 | 17,877 |
More than 40% or less than 60% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 20,765 | 20,617 |
More than 60% and less than 80% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 18,512 | 20,225 |
More than 80% and less or equal to 100% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,523 | 3,294 |
More than 100% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,133 | 1,387 |
Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 987 | 1,088 |
Credit impaired | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 973 | 1,064 |
Credit impaired | Less than or equal to 40% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 142 | 132 |
Credit impaired | More than 40% or less than 60% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 193 | 192 |
Credit impaired | More than 60% and less than 80% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 204 | 220 |
Credit impaired | More than 80% and less or equal to 100% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 167 | 181 |
Credit impaired | More than 100% | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 267 | € 339 |
Other disclosures - Disclosur_3
Other disclosures - Disclosure of financing for construction and real estate business in Spain (Details) - Spain - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Construction and property development loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 2,246 | € 2,283 |
Gross carrying amount | Construction and property development loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,282 | 2,327 |
Written-off assets | 376 | 487 |
Gross carrying amount | Construction and property development loans | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 75 | 94 |
Excess over collateral value | Construction and property development loans | ||
Disclosure of credit risk exposure [line items] | ||
Risk exposure | 209 | 211 |
Excess over collateral value | Construction and property development loans | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Risk exposure | 8 | 21 |
Accumulated impairment | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (1,247) | (1,311) |
Accumulated impairment | Construction and property development loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (36) | (44) |
Accumulated impairment | Construction and property development loans | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € (26) | € (33) |
Other disclosures - Disclosur_4
Other disclosures - Disclosure of financing for construction and real estate business in Spain, memorandum items (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Memorandum items: | ||
Total consolidated assets (Total business) (book value) | € 1,780,493 | € 1,734,659 |
Spain | Accumulated impairment | ||
Memorandum items: | ||
Impairment losses and provision for exposure classified as normal (business in Spain) | 1,247 | 1,311 |
Spain | Customers excluding the public sector | ||
Memorandum items: | ||
Total loans and advances to customers excluding the public sector (business in Spain) (book value) | € 243,814 | € 250,702 |
Other disclosures - Disclosur_5
Other disclosures - Disclosure of concentration of portfolio (Details) - Construction and property development loans - Spain - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 2,246 | € 2,283 |
Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,282 | 2,327 |
Gross carrying amount | Without real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 36 | 42 |
Gross carrying amount | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,246 | 2,285 |
Gross carrying amount | Completed buildings | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 951 | 1,138 |
Gross carrying amount | Completed buildings | Residential | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 528 | 674 |
Gross carrying amount | Completed buildings | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 423 | 464 |
Gross carrying amount | Building and other constructions under construction | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,273 | 1,110 |
Gross carrying amount | Building and other constructions under construction | Residential | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,216 | 1,103 |
Gross carrying amount | Building and other constructions under construction | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 57 | 7 |
Gross carrying amount | Land | With real guarantee | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 22 | 37 |
Gross carrying amount | Land | Developed consolidated land | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14 | 25 |
Gross carrying amount | Land | Other land | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | € 8 | € 12 |
Other disclosures - Disclosur_6
Other disclosures - Disclosure of foreclosed real estate assets (Details) - Spain - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Distribution of portfolio | ||
Foreclosed assets | € 2,680 | € 2,971 |
Impairment losses since time of foreclosure | 2,375 | 2,526 |
Construction and property development loans | ||
Distribution of portfolio | ||
Foreclosed assets | 2,300 | 2,490 |
Impairment losses since time of foreclosure | 2,162 | 2,275 |
Construction and property development loans | Completed Buildings | ||
Distribution of portfolio | ||
Foreclosed assets | 580 | 743 |
Impairment losses since time of foreclosure | 522 | 583 |
Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | 136 | 184 |
Impairment losses since time of foreclosure | 102 | 127 |
Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | 444 | 559 |
Impairment losses since time of foreclosure | 420 | 456 |
Construction and property development loans | Buildings under construction | ||
Distribution of portfolio | ||
Foreclosed assets | 44 | 48 |
Impairment losses since time of foreclosure | 36 | 32 |
Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | 3 | 18 |
Impairment losses since time of foreclosure | 5 | 4 |
Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | 41 | 30 |
Impairment losses since time of foreclosure | 31 | 28 |
Construction and property development loans | Land | ||
Distribution of portfolio | ||
Foreclosed assets | 1,676 | 1,699 |
Impairment losses since time of foreclosure | 1,604 | 1,660 |
Construction and property development loans | Developed Land | ||
Distribution of portfolio | ||
Foreclosed assets | 581 | 597 |
Impairment losses since time of foreclosure | 403 | 415 |
Construction and property development loans | Other land | ||
Distribution of portfolio | ||
Foreclosed assets | 1,095 | 1,102 |
Impairment losses since time of foreclosure | 1,201 | 1,245 |
Home purchase loans | ||
Distribution of portfolio | ||
Foreclosed assets | 304 | 385 |
Impairment losses since time of foreclosure | 157 | 190 |
Other foreclosed property assets | ||
Distribution of portfolio | ||
Foreclosed assets | 76 | 96 |
Impairment losses since time of foreclosure | 56 | 61 |
Gross carrying amount | ||
Distribution of portfolio | ||
Foreclosed assets | 5,922 | 6,422 |
Gross carrying amount | Construction and property development loans | ||
Distribution of portfolio | ||
Foreclosed assets | 5,241 | 5,587 |
Gross carrying amount | Construction and property development loans | Completed Buildings | ||
Distribution of portfolio | ||
Foreclosed assets | 1,210 | 1,456 |
Gross carrying amount | Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | 262 | 341 |
Gross carrying amount | Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | 948 | 1,115 |
Gross carrying amount | Construction and property development loans | Buildings under construction | ||
Distribution of portfolio | ||
Foreclosed assets | 92 | 92 |
Gross carrying amount | Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | 11 | 25 |
Gross carrying amount | Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | 81 | 67 |
Gross carrying amount | Construction and property development loans | Land | ||
Distribution of portfolio | ||
Foreclosed assets | 3,939 | 4,039 |
Gross carrying amount | Construction and property development loans | Developed Land | ||
Distribution of portfolio | ||
Foreclosed assets | 1,245 | 1,286 |
Gross carrying amount | Construction and property development loans | Other land | ||
Distribution of portfolio | ||
Foreclosed assets | 2,694 | 2,753 |
Gross carrying amount | Home purchase loans | ||
Distribution of portfolio | ||
Foreclosed assets | 533 | 659 |
Gross carrying amount | Other foreclosed property assets | ||
Distribution of portfolio | ||
Foreclosed assets | 148 | 176 |
Accumulated impairment | ||
Distribution of portfolio | ||
Foreclosed assets | (3,242) | (3,451) |
Accumulated impairment | Construction and property development loans | ||
Distribution of portfolio | ||
Foreclosed assets | (2,941) | (3,097) |
Accumulated impairment | Construction and property development loans | Completed Buildings | ||
Distribution of portfolio | ||
Foreclosed assets | (630) | (713) |
Accumulated impairment | Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | (126) | (157) |
Accumulated impairment | Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | (504) | (556) |
Accumulated impairment | Construction and property development loans | Buildings under construction | ||
Distribution of portfolio | ||
Foreclosed assets | (48) | (44) |
Accumulated impairment | Construction and property development loans | Residential | ||
Distribution of portfolio | ||
Foreclosed assets | (8) | (7) |
Accumulated impairment | Construction and property development loans | Other | ||
Distribution of portfolio | ||
Foreclosed assets | (40) | (37) |
Accumulated impairment | Construction and property development loans | Land | ||
Distribution of portfolio | ||
Foreclosed assets | (2,263) | (2,340) |
Accumulated impairment | Construction and property development loans | Developed Land | ||
Distribution of portfolio | ||
Foreclosed assets | (664) | (689) |
Accumulated impairment | Construction and property development loans | Other land | ||
Distribution of portfolio | ||
Foreclosed assets | (1,599) | (1,651) |
Accumulated impairment | Home purchase loans | ||
Distribution of portfolio | ||
Foreclosed assets | (229) | (274) |
Accumulated impairment | Other foreclosed property assets | ||
Distribution of portfolio | ||
Foreclosed assets | € (72) | € (80) |
Other disclosures - Foreclosed
Other disclosures - Foreclosed real estate assets (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about investment property [line items] | ||
Investments accounted for using equity method | € 7,679 | € 7,615 |
Foreclosed properties | Spain | ||
Disclosure of detailed information about investment property [line items] | ||
Investments accounted for using equity method | 185 | |
Foreclosed properties | Spain | Project Quasar Investments 2017, S.L. | ||
Disclosure of detailed information about investment property [line items] | ||
Investments accounted for using equity method | 155 | |
Foreclosed equity instruments | Spain | ||
Disclosure of detailed information about investment property [line items] | ||
Investments accounted for using equity method | € 14 |
Other disclosures - Solvency in
Other disclosures - Solvency information (Details) | Jun. 30, 2023 | Dec. 31, 2022 |
IFRS Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 phase-in percentage | 12.30% | 12.18% |
Tier 1 phase in capital ratio | 13.70% | 13.63% |
Total phase-in capital | 16.03% | 15.99% |
CET1 phase-in percentage, fully loaded | 12.24% | |
Minimum | ||
IFRS Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 phase-in percentage | 9.14% | |
Pillar 1 percentage | 4.50% | |
Pillar 2 percentage | 0.89% | |
Capital conservation buffer, percentage | 2.50% | |
Globally Systemically Important Entity percentage | 1% | |
Percentage of anti cyclical buffer on common equity Tier1 capital | 0.25% | |
Tier 1 phase in capital ratio | 10.94% | |
Total phase-in capital | 13.33% |
Other disclosures - Disclosur_7
Other disclosures - Disclosure of capital ratio (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Other Disclosures | ||
Level 1 ordinary eligible capital (EUR million) | € 77,628 | € 74,202 |
Level 1 additional eligible capital (EUR million) | 8,856 | 8,831 |
Level 2 eligible capital (EUR million) | 14,669 | 14,359 |
Risk-weighted assets (EUR million) | € 631,149 | € 609,266 |
Level 1 ordinary capital coefficient (CET 1) | 12.30% | 12.18% |
Level 1 additional capital coefficient (AT1) | 1.40% | 1.45% |
Level 1 capital coefficient (TIER1) | 13.70% | 13.63% |
Level 2 capital coefficient (TIER 2) | 2.33% | 2.36% |
Total capital coefficient | 16.03% | 15.99% |
Other disclosures - Disclosur_8
Other disclosures - Disclosure of leverage capital (Details) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Other Disclosures | ||
Tier 1 capital (EUR million) | € 86,485 | € 83,033 |
Exposure (EIR million) | € 1,796,203 | € 1,750,626 |
Leverage ratio | 4.81% | 4.74% |
Additional disclosure require_3
Additional disclosure requirements - Condensed Balance Sheets (Details) - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Assets | ||||
Cash and due from banks | € 186,134 | € 191,065 | ||
Trading account assets | 183,834 | € 156,118 | ||
Premises and equipment, net | 33,118 | 33,044 | ||
Other assets | 9,193 | 10,082 | ||
TOTAL ASSETS | 1,780,493 | 1,734,659 | ||
Liabilities | ||||
Other liabilities | 14,859 | 14,609 | ||
TOTAL LIABILITIES | 1,678,449 | 1,637,074 | ||
Stockholders' equity | ||||
Capital stock | 8,092 | 8,397 | ||
TOTAL EQUITY | 102,044 | 97,585 | € 97,462 | € 97,053 |
TOTAL LIABILITIES AND EQUITY | 1,780,493 | 1,734,659 | ||
Banco Santander S.A. | Reportable legal entities | ||||
Assets | ||||
Cash and due from banks | 158,281 | 177,920 | ||
Trading account assets | 104,836 | 92,128 | ||
Investment securities | 58,000 | 47,560 | ||
Net Loans and leases | 302,561 | 314,905 | ||
Investment in affiliated companies | 96,997 | 94,213 | ||
Premises and equipment, net | 6,466 | 6,513 | ||
Other assets | 14,663 | 16,787 | ||
TOTAL ASSETS | 741,804 | 750,026 | ||
Liabilities | ||||
Deposits | 378,537 | 418,841 | ||
Short-term debt | 93,116 | 54,255 | ||
Long-term debt | 104,059 | 114,447 | ||
Total debt | 197,175 | 168,702 | ||
Other liabilities | 94,986 | 92,437 | ||
TOTAL LIABILITIES | 670,698 | 679,980 | ||
Stockholders' equity | ||||
Capital stock | 8,092 | 8,397 | ||
Retained earnings and other reserves | 63,014 | 61,649 | ||
TOTAL EQUITY | 71,106 | 70,046 | ||
TOTAL LIABILITIES AND EQUITY | 741,804 | 750,026 | ||
Bank subsidiaries | Banco Santander S.A. | Reportable legal entities | ||||
Assets | ||||
Cash and due from banks | 7,510 | 14,548 | ||
Investment securities | 16,248 | 14,287 | ||
Investment in affiliated companies | 73,360 | 70,698 | ||
Liabilities | ||||
Deposits | 8,514 | 16,619 | ||
Total debt | 88 | 0 | ||
Non-bank subsidiaries | Banco Santander S.A. | Reportable legal entities | ||||
Assets | ||||
Investment securities | 1,171 | 1,327 | ||
Net Loans and leases | 23,473 | 25,312 | ||
Investment in affiliated companies | 23,637 | 23,515 | ||
Liabilities | ||||
Deposits | 12,995 | 15,106 | ||
Total debt | € 2,147 | € 1,638 |
Additional disclosure require_4
Additional disclosure requirements - Condensed Statements of Income (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Condensed Income Statements, Captions [Line Items] | ||
Interest income | € 49,922 | € 30,869 |
Dividends from affiliated companies | 382 | 335 |
Interest expense | (29,002) | (12,460) |
Non-interest income: | 480 | 819 |
Non-interest expense: | (1,504) | (1,461) |
Operating profit/(loss) before tax | 8,090 | 7,915 |
Income tax expense | (2,281) | (2,374) |
Profit/(loss) for the period | 5,809 | 5,541 |
Banco Santander S.A. | Reportable legal entities | ||
Condensed Income Statements, Captions [Line Items] | ||
Interest income | 13,380 | 7,004 |
Dividends from affiliated companies | 3,131 | 2,813 |
Interest expense | (6,938) | (2,068) |
Interest income / (Charges) | 6,442 | 4,936 |
Provision for credit losses | (755) | (818) |
Interest income / (Charges) after provision for credit losses | 5,687 | 4,118 |
Non-interest income: | 2,397 | 2,558 |
Non-interest expense: | (4,187) | (4,202) |
Operating profit/(loss) before tax | 3,897 | 2,474 |
Income tax expense | (243) | (43) |
Profit/(loss) for the period | 3,654 | 2,431 |
Banco Santander S.A. | Reportable legal entities | Earnings Assets | ||
Condensed Income Statements, Captions [Line Items] | ||
Interest income | 10,249 | 4,191 |
Banco Santander S.A. | Reportable legal entities | Bank subsidiaries | ||
Condensed Income Statements, Captions [Line Items] | ||
Dividends from affiliated companies | 2,618 | 2,625 |
Banco Santander S.A. | Reportable legal entities | Non-bank subsidiaries | ||
Condensed Income Statements, Captions [Line Items] | ||
Dividends from affiliated companies | € 513 | € 188 |
Additional disclosure require_5
Additional disclosure requirements - Condensed Statements of Comprehensive Income (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Condensed Statement of Income Captions [Line Items] | ||
Profit/(loss) for the period | € 5,809 | € 5,541 |
OTHER RECOGNISED INCOME AND EXPENSE | 2,091 | 214 |
Items that may be reclassified to profit or loss | 2,580 | (219) |
Hedging instruments (items not designated) | 0 | 0 |
Revaluation gains (losses) | 0 | 0 |
Amounts transferred to income statement | 0 | 0 |
Other reclassifications | 0 | 0 |
Debt instruments at fair value with changes in other comprehensive income | 790 | (1,804) |
Revaluation gains (losses) | 782 | (2,411) |
Amounts transferred to income statement | 8 | (190) |
Other reclassifications | 0 | 797 |
Cash flow hedges (effective portion) | 596 | (2,604) |
Revaluation gains (losses) | (1,318) | (942) |
Amounts transferred to income statement | 1,914 | (1,662) |
Amounts transferred to initial carrying amount of hedged items | 0 | 0 |
Other reclassifications | 0 | 0 |
Hedges of net investments in foreign operations (effective portion) | (1,527) | (1,693) |
Exchange differences | 3,094 | 4,462 |
Non-current assets held for sale | 0 | 0 |
Income tax | (461) | 1,281 |
Items that will not be reclassified to profit or loss | (489) | 433 |
Actuarial gains/(losses) on pension plans | (402) | 843 |
Other recognised income and expense of investments in subsidiaries, joint ventures and associates | (5) | (1) |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income | (201) | (334) |
Gains or losses resulting from the accounting for hedges of equity instruments measured at fair value through other comprehensive income, net | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedged item) | (41) | 37 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedging instrument) | 41 | (37) |
Changes in the fair value of financial liabilities at fair value through profit or loss attributable to changes in credit risk | (50) | 123 |
Income tax relating to items that will not be reclassified | 169 | (198) |
Total recognised income and expenses for the year | 7,900 | 5,755 |
Banco Santander S.A. | Reportable legal entities | ||
Condensed Statement of Income Captions [Line Items] | ||
Profit/(loss) for the period | 3,654 | 2,431 |
OTHER RECOGNISED INCOME AND EXPENSE | (183) | (683) |
Items that may be reclassified to profit or loss | 104 | (551) |
Hedging instruments (items not designated) | 0 | 0 |
Revaluation gains (losses) | 0 | 0 |
Amounts transferred to income statement | 0 | 0 |
Other reclassifications | 0 | 0 |
Debt instruments at fair value with changes in other comprehensive income | 43 | (378) |
Revaluation gains (losses) | 38 | (327) |
Amounts transferred to income statement | 5 | (52) |
Other reclassifications | 0 | 0 |
Cash flow hedges (effective portion) | 133 | (408) |
Revaluation gains (losses) | (24) | (394) |
Amounts transferred to income statement | 157 | (14) |
Amounts transferred to initial carrying amount of hedged items | 0 | 0 |
Other reclassifications | 0 | 0 |
Hedges of net investments in foreign operations (effective portion) | 0 | 0 |
Exchange differences | 0 | 0 |
Non-current assets held for sale | 0 | 0 |
Income tax | (72) | 235 |
Items that will not be reclassified to profit or loss | (287) | (132) |
Actuarial gains/(losses) on pension plans | 12 | 217 |
Other recognised income and expense of investments in subsidiaries, joint ventures and associates | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income | (275) | (344) |
Gains or losses resulting from the accounting for hedges of equity instruments measured at fair value through other comprehensive income, net | 0 | 0 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedged item) | (41) | 37 |
Changes in the fair value of equity instruments measured at fair value through other comprehensive income (hedging instrument) | 41 | (37) |
Changes in the fair value of financial liabilities at fair value through profit or loss attributable to changes in credit risk | (34) | 84 |
Income tax relating to items that will not be reclassified | 10 | (89) |
Total recognised income and expenses for the year | € 3,471 | € 1,748 |
Additional disclosure require_6
Additional disclosure requirements - Condensed Cash Flow Statements (Details) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
1. Cash flows from operating activities | ||
Consolidated profit | € 5,809 | € 5,541 |
Adjustments to profit | 13,720 | 11,307 |
Net increase/decrease in operating assets | (45,762) | (90,128) |
Net increase/decrease in operating liabilities | 15,842 | 83,182 |
Reimbursements/payments of income tax | (1,504) | (2,516) |
CASH FLOWS FROM OPERATING ACTIVITIES | (11,895) | 7,386 |
2. Cash flows from investing activities | ||
Investments (-) | (6,832) | (6,016) |
Divestments (+) | 4,334 | 4,364 |
CASH FLOWS FROM INVESTING ACTIVITIES | (2,498) | (1,652) |
3. Cash flows from financing activities | ||
Issuance of own equity instruments | 0 | 0 |
Disposal of own equity instruments | 467 | 360 |
Acquisition of own equity instruments | (1,723) | (1,173) |
Dividends paid | (963) | (869) |
CASH FLOWS FROM FINANCING ACTIVITIES | (2,358) | (7,123) |
Effect of exchange rate changes on cash and cash equivalents | 1,224 | 1,976 |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (15,527) | 587 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 223,073 | 210,689 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 207,546 | 211,276 |
Banco Santander S.A. | Reportable legal entities | ||
1. Cash flows from operating activities | ||
Consolidated profit | 3,654 | 2,431 |
Adjustments to profit | 2,080 | (483) |
Net increase/decrease in operating assets | (10,186) | (59,337) |
Net increase/decrease in operating liabilities | (14,608) | 80,616 |
Reimbursements/payments of income tax | 1,134 | (287) |
CASH FLOWS FROM OPERATING ACTIVITIES | (17,926) | 22,940 |
2. Cash flows from investing activities | ||
Investments (-) | (2,438) | (2,072) |
Divestments (+) | 4,099 | 4,440 |
CASH FLOWS FROM INVESTING ACTIVITIES | 1,661 | 2,368 |
3. Cash flows from financing activities | ||
Issuance of own equity instruments | 0 | 0 |
Disposal of own equity instruments | 336 | 202 |
Acquisition of own equity instruments | (1,622) | (1,067) |
Issuance of debt securities | 1,500 | 0 |
Redemption of debt securities | (438) | (1,203) |
Dividends paid | (963) | (869) |
Issuance/Redemption of equity instruments | 0 | 0 |
Other collections/payments related to financing activities | (87) | (158) |
CASH FLOWS FROM FINANCING ACTIVITIES | (1,274) | (3,095) |
Effect of exchange rate changes on cash and cash equivalents | (429) | 448 |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (17,968) | 22,661 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 130,083 | 91,736 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | € 112,115 | € 114,397 |
Additional disclosure require_7
Additional disclosure requirements - Schedule of preference shares and preferred securities (Details) - Financial liabilities at amortized cost - EUR (€) € in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Subordinated | ||
Disclosure of detailed information about financial instruments [line items] | ||
Outstanding issue amount | € 8,069 | € 8,096 |
Preference shares | ||
Disclosure of detailed information about financial instruments [line items] | ||
Outstanding issue amount | 205 | 198 |
Preferred securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Outstanding issue amount | € 7,864 | € 7,898 |
Additional disclosure require_8
Additional disclosure requirements - Schedule of preference shares and preferred securities by issuer (Details) € in Millions, £ in Millions, $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 EUR (€) | Jun. 30, 2023 GBP (£) | Jun. 30, 2023 USD ($) | |
Santander UK plc, October 1995 | Preference shares | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | £ | £ 80.3 | ||
Interest rate | 10.375% | 10.375% | 10.375% |
Santander UK plc, February 1996 | Preference shares | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | £ | £ 80.3 | ||
Interest rate | 10.375% | 10.375% | 10.375% |
Banco Santander, S.A., September 2017 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 6 years | ||
Reference rate | 5-year Mid-Swap Rate | ||
Banco Santander, S.A., September 2017 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 1,000 | ||
Interest rate | 5.25% | 5.25% | 5.25% |
Adjustment to reference rate, after initial interest rate period | 4.999% | 4.999% | 4.999% |
Banco Santander, S.A., March 2018 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 7 years | ||
Reference rate | Mid-Swap Rate | ||
Banco Santander, S.A., March 2018 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 1,500 | ||
Interest rate | 4.75% | 4.75% | 4.75% |
Adjustment to reference rate, after initial interest rate period | 4.097% | 4.097% | 4.097% |
Banco Santander, S.A., February 2019 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 5 years | ||
Reference rate | Mid-Swap Rate | ||
Reprice term | 5 years | ||
Banco Santander, S.A., February 2019 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | $ | $ 1,200 | ||
Interest rate | 7.50% | 7.50% | 7.50% |
Adjustment to reference rate, after initial interest rate period | 4.989% | 4.989% | 4.989% |
Banco Santander, S.A., January 2020 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 6 years | ||
Reference rate | 5-year Mid-Swap Rate | ||
Reprice term | 5 years | ||
Banco Santander, S.A., January 2020 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 1,500 | ||
Interest rate | 4.375% | 4.375% | 4.375% |
Adjustment to reference rate, after initial interest rate period | 4.534% | 4.534% | 4.534% |
Banco Santander, S.A., May 2021 | US Dollar | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 6 years | ||
Reference rate | 5-year UST | ||
Reprice term | 5 years | ||
Banco Santander, S.A., May 2021 | Euro | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 7 years | ||
Reference rate | 5-year Euro mid-swap | ||
Reprice term | 5 years | ||
Banco Santander, S.A., May 2021 | Preferred securities | US Dollar | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | $ | $ 1,000 | ||
Interest rate | 4.75% | 4.75% | 4.75% |
Adjustment to reference rate, after initial interest rate period | 3.753% | 3.753% | 3.753% |
Banco Santander, S.A., May 2021 | Preferred securities | Euro | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 750 | ||
Interest rate | 4.125% | 4.125% | 4.125% |
Adjustment to reference rate, after initial interest rate period | 4.311% | 4.311% | 4.311% |
Banco Santander, S.A., September 2021 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Initial interest rate term | 8 years | ||
Reference rate | 5-year Mid-Swap Rate. | ||
Reprice term | 5 years | ||
Banco Santander, S.A., September 2021 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 1,000 | ||
Interest rate | 3.625% | 3.625% | 3.625% |
Adjustment to reference rate, after initial interest rate period | 3.76% | 3.76% | 3.76% |
Santander Finance Preferred, S.A. (Unipersonal), September 2004 | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Outstanding issue amount | € 144 | ||
Santander Finance Preferred, S.A. (Unipersonal), September 2004 | CMS 10 interest rate | Preferred securities | |||
Disclosure of detailed information about financial instruments [line items] | |||
Interest rate | 8% | 8% | 8% |
Variable interest rate | 0.05% | 0.05% | 0.05% |