ACTIVITY

Customers and digitalization

The Group continued to boost the relationship with customers and increase digital activity:
  • Digital adoption remains critical: we have more than 44 million digital customers (+15% year-on-year), after a 1.8 million increase in the quarter. In addition, 50% of sales were made through digital channels in Q1'21 (41% in Q1'20).
  • Loyal customers rose to more than 23 million (+9% year-on-year) and represented 33% of total active customers.

Loyal customers
Millions

Digital customers
Millions

Digital sales
% of total sales

In the quarter, business volumes continued to be affected by the pandemic and high liquidity in the markets

In this environment, and excluding the exchange rate impact:

  • Loans and advances to customers rose 0.4% in the quarter and increased 2% year-on-year. Credit normalization following the uptick at the beginning of the pandemic, due to high liquidity in the system.
  • Customer funds were up 1% in the quarter and 10% year-on-year, due to the higher propensity to save of individuals and corporates.

Business distribution

% operating areas. March 2021
Loans to customers Customer funds
EUROPE 60% 67%
NORTH AMERICA 13% 13%
SOUTH AMERICA 14% 15%
DIGITAL CONSUMER BANK 13% 5%

Activity

EUR million
% change / Q1'20
Q1'21 EUR Constant
EUR
Gross loans and advances to customers* 924,430 1.7 1.8
Customer deposits** 837,685 8.1 8.3
Mutual funds 169,634 14.6 19.0
Customer funds 1,007,319 9.1 10.0
*Excluding reverse repos.
**Excluding repos.