EX-12 18 d570969dex121.htm EX-12

EX-12

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS(1)

								Year Ended December 31,
				Three Months Ended March 31, 2013				2012				2011				2010				2009				2008
				(in thousands of euros, except ratios)
		Earnings
1		Income before taxes, minority interest and extraordinary items			1,481,951				1,658,985				3,769,671				6,421,735				5,735,579				5,769,000
2		Add: Interest expenses and preferred dividend			951,224				5,211,821				5,781,535				4,681,972				5,531,593				8,482,556
3		Earnings excluding Interest on deposits			2,433,175				6,870,806				9,551,206				11,103,707				11,267,172				14,251,556
4		Add: Interest on deposits			1,532,041				5,729,255				5,053,090				3,628,773				4,572,194				8,825,163
5		Earnings including Interest on deposits			3,965,216				12,600,061				14,604,296				14,732,480				15,839,366				23,076,719
		Fixed Charges
6		Fixed Charges excluding Interest on deposits (Line 2)			951,224				5,211,821				5,781,535				4,681,972				5,531,593				8,482,556
7		Add: Interest on deposits (Line 4)			1,532,041				5,729,255				5,053,090				3,628,773				4,572,194				8,825,163
8		Fixed Charges including Interest on deposits			2,483,265				10,941,076				10,834,625				8,310,745				10,103,787				17,307,719
		Consolidated Ratios of Earnings to Fixed Charges
		Including Interests on deposits (Line 5 / Line 8)			1.60				1.15				1.35				1.77				1.57				1.33
		Excluding Interest on deposits (Line 3 / Line 6)			2.56				1.32				1.65				2.37				2.04				1.68

(1) For the purposes of calculating ratios of earnings to fixed charges, earnings consist of income before taxes for the period relating to continuing operations, minority interests and extraordinary items, plus fixed charges. Fixed charges for these purposes consist of interest expenses from financial liabilities that include debt certificates, subordinated liabilities and deposits.