EX-12 7 d452286dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS(1)(2)

 

          Six
Months Ended
June 30,		      Year Ended December 31,  
          2017(3)      2016      2015      2014      2013      2012  
          (in thousands of euros, except ratios)  
   Earnings                  

1

   

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

      4,032,404        6,366,798        4,514,699        3,728,276        475,000        1,658,985  

2

   

Add: Interest expenses and preferred dividend

      1,102,267        2,322,604        2,502,576        2,475,993        3,582,256        5,211,821  

3

   

Earnings excluding Interest on deposits

      5,134,671        8,689,402        7,017,275        6,204,269        4,057,256        6,870,806  

4

   

Add: Interest on deposits

      3,776,350        7,324,620        5,641,035        5,318,431        5,842,547        5,729,255  

5

   

Earnings including Interest on deposits

      8,911,021        16,014,022        12,658,310        11,522,700        9,899,803        12,600,061  
  

Fixed Charges

                  

6

   

Fixed Charges excluding Interest on deposits (Line 2)

      1,102,267        2,322,604        2,502,576        2,475,993        3,582,256        5,211,821  

7

   

Add: Interest on deposits (Line 4)

      3,776,350        7,324,620        5,641,035        5,318,431        5,842,547        5,729,255  

8

   

Fixed Charges including Interest on deposits

      4,878,617        9,647,224        8,143,611        7,794,424        9,424,803        10,941,076  
  

Consolidated Ratios of Earnings to Fixed Charges

                  
  

Including Interests on deposits (Line 5 / Line 8)

      1.83        1.66        1.55        1.48        1.05        1.15  
  

Excluding Interest on deposits (Line 3 / Line 6)

      4.66        3.74        2.80        2.51        1.13        1.32  

 

(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.