Executives
Operator
Alfredo Sáenz Abad – Second Vice Chairman and CEO José Antonio Álvarez Álvarez – EVP-Financial Management and IR Alfredo Sáenz Abad: [Interpreted] Good morning, we are going to begin our results presentation. I’ll be reviewing the general main features of the quarter and the Group’s results and then Jose Antonio Alvarez will look in more detail at the results of the business area. And finally, I will conclude with our view of the coming quarters. I’ll focus on the five main aspects of the quarter which I will cover in detail in the following slides. First, the Santander Group’s capacity to keep on generating strong return results in a market which remains very difficult. We’ve once again surpassed EUR2.1 billion in quarterly profit and this was very much bolstered by our commercial retail revenues. Second, we ended the first quarter with very solid capital ratio. RBIS ratio was at 13.7% and our core capital rose to 9.66% after rising 86 basis points in the quarter. Thirdly, the Group’s NPL ratio remained almost the same as in December as all large units, except for Spain and Portugal further improved their NPL ratios in the quarter. Fourth, we’ve once again improved our liquidity position. Deposits captured in a very active issues policy have enabled us to exceed by EUR20 billion the business needs and the maturities of the quarter. And fifth, we continue to diversify and improve our business portfolio. Let’s look at each of these points in more detail. Results. Beginning with profit in the first year, we have remained on target with 2.1 billion, which although is still slightly below that of Q1 of last year, it is slightly larger than the figure for the third quarter and significantly larger than the figure for the fourth quarter. Business model positioning…