Informe_Anual_Cecabank

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03 Our Business Model
Cecabank 2015 Annual Report
* Presented solely and exclusively for the purposes of comparison.
Notes 1 to 41 and Appendices I to IV of the accompanying Notes to the Financial Statements form an
integral part of the income statement for financial year 2015.
1.6 Income 77.162 54.485
1.7 Less: Dividends and remuneration - -
2. Valuation adjustments 69.501 93.819
2.1 Available-for-sale financial assets (Note 17) 61.241 87.779
2.2 Cash flow hedges (Note 17) - -
2.3 Hedges of net investments in foreign operations - -
2.4 Exchange differences - -
2.5 Non-current assets held for sale - -
2.7 Other valuation adjustments (Note 17) 8.260 6.040
Total equity 970.935 931.713
Total equity and liabilities 11.982.646 10.862.998
Income Statement
Ingresos / (Gastos)
2015 2014*
1. Interest and similar income (Note 28) 67.414 93.951
2. Interest and similar charges (Note 29) (20.618) (21.492)
3. Remuneration of capital having the nature of a financial liability - -
A. Net interest income 46.796 72.459
4. Return on equity instruments (Note 30) 5.474 29.717
5. Fee and commission income (Note 31) 128.130 108.351
6. Fee and commission expense (Note 32) (16.251) (18.666)
8. Net gains (losses) from financial operations (Note 33) 20.375 (34.149)
8.1 Held for trading 8.371 (50.233)
8.2 Other financial instruments at fair value through profit or loss (1.215) (63)
8.3 Financial instruments not measured at fair value through profit or loss 15.588 16.250
8.4 Other (2.369) (103)
9. Exchange differences (net) 51.754 36.500
10. Other operating income (Note 34) 46.694 45.803
11. Other operating expense (Note 37) (4.251) (711)
B. Gross income 278.721 239.304
12. Administrative expenses (115.585) (119.921)
12.1 Personnel expenses (Note 35) (52.773) (54.760)
12.2 Other general administrative expenses (Note 36) (62.812) (65.161)
13. Depreciation and amortization (Note 39) (49.688) (39.696)
14. Provisions (net) (Note 16) (32.251) (19.291)
15. Impairment losses on financial assets (net) (Notes 22 and 38) 19.291 14.765
15.1 Loans and receivables 20.204 18.867
15.2 Other financial instruments not measured at fair value through profit or loss (913) (4.102)
C. Net operating income 100.488 75.161
16. Impairment losses on other assets (net) - -
16.1 Goodwill and other intangible assets - -
16.2 Other assets - -
17. Gains (losses) on disposal of assets not classified as non- current assets held for sale (Note 11) 4.988 (1)
18. Negative goodwill on business combinations - -
19. Gains (losses) on non-current assets held for sale not classified as discontinued operations - -
D. Profit before tax 105.476 75.160
20. Income tax (Note 20) (28.314) (20.675)
21. Mandatory transfer to welfare projects and funds - -
E. Profit for the year from continuing operations 77.162 54.485
22. Profit (Loss) from discontinued operations (net) - -
E. Profit for the year 77.162 54.485
Cecabank S.A. Income Statement for the financial years ended as of 31 December 2015 and 2014
(thousands of euros)