Exploring Cardano: Inner Workings and Advantages of this Cryptocurrency
Seville.- Economy.- Innova.- STSA inaugurates its new painting and sealing hangar in San Pablo, for 18 million
Innova.- More than 300 volunteers join the Andalucía Compromiso Digital network in one month to facilitate access to ICT
Innova.-AMP.- Ayesa acquires 51% of Sadiel, which will create new technological engineering products and expand markets
The ultraconservative Mohamad Ali Kermani is elected new president of the Assembly of Experts of Iran
The Council of Ministers approves the prevalence of autonomous agreements promised to the PNV
The Constitutional Court endorses the housing law almost in its entirety and considers only part of the appeal of the Junta de Andalucía
The law against PSOE pimping divides the Government due to the rejection of SUMAR and the PP will be key to its processing
How Blockchain in being used to shape the future
Not just BTC and ETH: Here Are Some More Interesting Coins Worth Focusing on
ITI works on an international project to eradicate production defects
The ITE promotes a project to recycle lithium batteries completely and reduce their environmental impact
'Fallero hologram: the art of the bow', the UPV and Telefónica pioneer the use of VR technology applied to training
UA researchers develop a device to desalt food products through electrodialysis
A million people demonstrate in France against Macron's pension reform
Russia launches several missiles against "critical infrastructure" in the city of Zaporizhia
A "procession" remembers the dead of the Calabria shipwreck as bodies continue to wash up on the shore
Prison sentences handed down for three prominent Hong Kong pro-democracy activists
ETH continues to leave trading platforms, Ethereum balance on exchanges lowest in 3 years
Investors invest $450 million in Consensys, Ethereum incubator now valued at $7 billion
Alchemy Integrates Ethereum L2 Product Starknet to Enhance Web3 Scalability at a Price 100x Lower Than L1 Fees
Mining Report: Bitcoin's Electricity Consumption Declines by 25% in Q1 2022
Oil-to-Bitcoin Mining Firm Crusoe Energy Systems Raised $505 Million
Microbt reveals the latest Bitcoin mining rigs -- Machines produce up to 126 TH/s with custom 5nm chip design
Bitcoin's Mining Difficulty Hits a Lifetime High, With More Than 90% of BTC Supply Issued
The Biggest Movers are Near, EOS, and RUNE during Friday's Selloff
Global Markets Spooked by a Hawkish Fed and Covid, Stocks and Crypto Gain After Musk Buys Twitter
Bitso to offset carbon emissions from the Trading Platform's ERC20, ETH, and BTC Transactions
Draftkings Announces 2022 College Hoops NFT Selection for March Madness
Registers a new "record" in mortgage production in the second quarter with 1,501 million
Banco Sabadell has closed the first half of 2021 with an attributable net profit of 393 million euros, 78.6% more than the same period last year, and has placed its return on tangible capital (ROTE) at 7%, exceeding the objectives of the strategic plan.
Without taking into account TSB, the British subsidiary of the Catalan group, net attributable profit stood at 338 million euros at the end of June, 86.6% more, as reported by the bank to the National Market Commission on Thursday of Securities (CNMV).
The mortgage production of the last quarter in Spain has reached 1,501 million euros, which represents the "historical record" of production and an increase of 19% compared to the previous quarter.
The entity's recurring margin (net interest income commissions - costs) increased by 18.5% year-on-year, after registering income from the banking business (net interest income commissions) of 2,486 million, an increase of 3.8% year-on-year, while the net interest income increased by 4.2% year-on-year to 1,757 million due to the greater contribution of TSB (14.3%).
Costs stood at 1,440 million until June, 4.8% less in the year, mainly due to savings in personnel expenses and the reduction of general expenses, while in the second quarter the bank has registered a fall of 1 .6% of the costs (the entity estimates savings of 110 million in 2022 and 130 per year from 2023).
Net commissions rose 2.8% year-on-year to 729 million euros, supported by a greater contribution from TSB, which recorded 14.8% more than the previous year.
As for mortgage production in the last quarter, it reached 1,501 million euros, which represents another "record" of production and an increase of 19% compared to the previous quarter, while live credit closes June with a balance of 158,074 millions.
Consumer credit increased by 17% quarter-on-quarter, reaching 805 million euros; card billing grew by 16% compared to the first quarter, to 5,541 million, and POS billing by 27%, to 12,111 million euros, in the quarter.
At the same time, investment funds totaled 22,538 million, a reduction of 5% quarter-on-quarter due to "volatility in financial markets."
RESOURCES AND DEPOSITS
In the six-month period, on-balance sheet customer funds reached 163,391 million euros (122,286 Ex TSB) and grew by 3.8% year-on-year (5.5% Ex TSB) and 1.3% in the quarter (2.7 % Ex TSB) due to the "positive" evolution of sight accounts and time deposits.
Sight account balances amounted to 147,892 million (108,447 Ex TSB), with an increase of 5.6% year-on-year (7.6% Ex TSB) and increase of 0.9% (2% Ex TSB) in the quarter .
Term deposits total 15,980 million euros (14,320 Ex TSB) and are down 9.4% (7.3% Ex TSB) compared to the previous year; in the quarter they decreased by 3.9% (6.6% Ex TSB).
At the close of June, off-balance sheet customer funds stood at 38,831 million euros, down 4.7% year-on-year due to the sale of BancSabadell d'Andorra, and 4.4% quarter-on-quarter due to the volatility of financial markets.
LIQUIDITY, CAPITAL AND ASSETS
The group's total assets amount to 257,229 million euros (205,047 Ex TSB), which represents a growth of 2.8% year-on-year and 1.6% in the quarter, and the CET1 'phase in' ratio stands at 12.61% at the end of June and grows 2bps compared to the previous quarter.
The fully-loaded CET1 ratio stands at 12.48% and increases 3bps in the quarter and the total phase-in capital ratio amounts to 17.11% at the end of the quarter, standing above the regulatory requirement with an MDA buffer of 415bps, while in liquidity management, the LCR (Liquidity Coverage Ratio) reaches 225% at the group level.
The entity has reduced problem assets in the quarter after the sale of the Austro portfolio of 400 million unsecured loans, and at the end of June they total 6,991 million, of which 5,714 million are doubtful loans and 1,277 million foreclosed assets.
The NPL ratio stands at 3.31% after falling quarterly and year-on-year, and the cost of credit risk stands at 40bps at the end of the second quarter of 2022, a reduction of 13bps in the year-on-year comparison.
TSB: 61 MILLION POUNDS
The British subsidiary has closed June with a contribution of 54 million euros to the group's accounts, compared to 39 million a year ago, after obtaining a profit before taxes of 103 million pounds, compared to 43 in the same period of 2021, and a net profit of 61 million pounds at the end of the first half of this year.
For the entity, these results confirm "the commercial dynamism and the improvement in margins of TSB" and has attributed the benefit to the growth of the basic margin and lower costs.
The interest margin rose 11% year-on-year to 464 million pounds at the end of the semester and increased 11% year-on-year "due to the strong growth in mortgage volumes in the year."
In his case, net commissions grew by 11.4% year-on-year and amounted to 54 million pounds, due to higher service commissions, especially cards, and costs stood at 376 million pounds and decreased by 5.9%. YoY.
