Consolidated interim report on operations as at 30 September 2020 approved

Profit for the first nine months comes to € 200.6 million, sustained by a good revenue-generating capacity and effective cost control. 

A number of non-recurring components, already recorded in the first half, in addition to contributions to system funds of € 64.7 million, had an impact on the results, such as additional loan loss adjustments of over € 90 million for the worsening of the macroeconomic context caused by the health emergency, as well as other extraordinary charges for a total of approximately € 36 million 

Net profit for the third quarter of € 95.9 million benefiting from growth in core revenues (€ 587.6 million) and containment of operating costs (€ 379.8 million), given a reduction in the cost of credit (20 bps). The ordinary contribution to the Deposit Guarantee Schemes ("DGS") estimated at € 30.5 million was accounted for in the quarter

The Group's high level of capital strength is confirmed by a Fully Loaded CET1 ratio pro-forma of 13.03%, an increase of 46 bps since June 2020. Phased In CET1 ratio pro-forma of 14.61%, with an overall capital buffer of over € 2 billion compared with the minimum requirement set by the European Central Bank for 2020 

High liquidity position with a LCR index of 175.8% well above the regulatory threshold of 100% and liquidity buffer of over € 15.5 billion