EX-12 9 d220701dex121.htm EX-12 EX-12

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS(1)(2)

 

          Three
Months Ended
March 31,		      Year Ended December 31,  
          2016(3)      2015      2014      2013      2012      2011  
     Earnings    (in thousands of euros, except ratios)  

1

   

Income from continuing operations before taxes, adjustment for minority interest in consolidated subsidiaries or income or loss and dividends from equity investees

      1,338,867         4,514,699         3,728,276         475,000         1,658,985         3,769,671   

2

   

Add: Interest expenses and preferred dividend

      622,776         2,502,576         2,475,993         3,582,256         5,211,821         5,781,535   

3

   

Earnings excluding Interest on deposits

      1,961,643         7,017,275         6,204,269         4,057,256         6,870,806         9,551,206   

4

   

Add: Interest on deposits

      1,839,387         5,641,035         5,318,431         5,842,547         5,729,255         5,053,090   

5

   

Earnings including Interest on deposits

      3,801,030         12,658,310         11,522,700         9,899,803         12,600,061         14,604,296   
  

Fixed Charges

                  

6

   

Fixed Charges excluding Interest on deposits (Line 2)

      622,776         2,502,576         2,475,993         3,582,256         5,211,821         5,781,535   

7

   

Add: Interest on deposits (Line 4)

      1,839,387         5,641,035         5,318,431         5,842,547         5,729,255         5,053,090   

8

   

Fixed Charges including Interest on deposits

      2,462,163         8,143,611         7,794,424         9,424,803         10,941,076         10,834,625   
  

Consolidated Ratios of Earnings to Fixed Charges

                  
  

Including Interests on deposits (Line 5 / Line 8)

      1.54         1.55         1.48         1.05         1.15         1.35   
  

Excluding Interest on deposits (Line 3 / Line 6)

      3.15         2.80         2.51         1.13         1.32         1.65   

 

(1) For the purposes of calculating ratios of earnings to fixed charges, earnings consist of income before taxes for the period from continuing operations before adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees and distributed income of equity investees, plus fixed charges. Fixed charges for these purposes consist of interest expenses from financial liabilities that include debt certificates, subordinated liabilities and deposits.
(2) In accordance with International Financial Reporting Standards adopted by the EU (“EU-IFRS”) required to be applied under the Bank of Spain’s Circular 4/2004 (“Circular 4/2004”) and in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”).
(3) Unaudited.