The entities associated with CECA achieve a consolidated result of €1,941 million in the first half of 2015

The delinquency rate of the CECA sector stood at 10.9% in June 2015, and its downward trend is primarily due to the decrease in doubtful assets.

Average own funds have risen to €54,037 million, reflecting a growth of 3.1% since June 2014.

The consolidated result of the sector of entities attached to CECA amounts to €1,941 million in the first six months of 2015, placing the return on equity at 7.2%. The increase in the interest margin of 2.1%, reaching €5,393 million, is significant, thanks to a 19.5% reduction in financial expenses. The context of low interest rates has allowed for a significant reduction in the cost of financial liabilities, which has compensated for the decline in financial income, down to €9,575 million.

Net commissions also contributed positively to the results, maintaining their upward trajectory. In the last year, they increased by 7.2% thanks to the rise in products marketed off-balance sheet. This growth has been influenced by both an increase in commissions received, at 5.9%, and a decrease in commissions paid, at -7.2%.

Furthermore, the growth of 6.6% in the gross margin, up to €10,428 million, is largely due to income from the equity portfolio, which showed signs of recovery, both in terms of dividends (with an increase of 1.4%) and results from equity-accounted entities (197.2%).