Summary Report
19th November, 2012
The Summary Report for the first half of 2012 is now being published. This document analyses data on 33 of the 36 financial institutions that the APB represents and is based on the information reported as at 30 June 2012. The figures obtained are the result of aggregating figures from the separate balance sheets and income statements of each institution.
Banking activity at the member institutions in the first half of 2012 was affected substantially by the deterioration of the economic and political scenarios in Portugal and the rest of the euro area.
Despite the need to reinforce impairments for credit (1.3 billion euros more than in the first half of 2011) and for financial assets (98 million euros more) and consequent decrease of member institutions profitability, the first half of 2012 was, however, marked with the following positive aspects:
- Increase of aggregate core Tier 1 capital ratio to 11.4% (against 9.5% at the end of 2011) in accordance with EBA and Banco de Portugal requirements;
- Decrease of the transformation ratio from 139% at 31 December 2011 to 137.7% at 30 June 2012;
- Positive development of cost-to-income by 12 percentage points against the first half of 2011.
