28

Interest income

The breakdown of this item in the accompanying statement of profit or loss is as follows:

Breakdown of interest income (Millions of euros)

2019

2018

2017

Central banks

0

0

0

Credit institutions

47

31

31

Debt securities

2,101

1,993

2,169

Financial assets held for trading

7

13

18

Financial assets designated at fair value through profit or loss

0

0

Financial assets compulsorily measured at fair value through profit or loss

5

5

0

Financial assets at fair value with changes in other comprehensive income

1,966

1,856

0

Available-for-sale financial assets

2,082

Financial assets at amortised cost

123

119

0

Loans and receivables

0

21

Investment portfolio at maturity

0

48

Loans and advances to customers and other financial income

4,808

4,762

4,657

Public administrations

75

97

132

Trade credits and bills

175

176

185

Mortgage loans

1,921

2,018

2,063

Personal loans

2,089

1,910

1,668

Credit accounts

434

428

468

Other

114

133

141

Adjustments to income due to hedging transactions

(28)

5

(67)

Interest income - liabilities

127

155

181

Total

7,055

6,946

6,971

Of which: interest on exposures in stage 3 (non-performing loans in 2017)

196

293

281

The average effective interest rate of the various financial assets categories calculated on average net balances (excluding rectifications) is set out below:

Average return on assets (Percentage)

2019

2018

2017

Deposits at central banks

0.00%

0.00%

0.00%

Financial assets held for trading – Debt securities

0.39%

0.64%

0.67%

Financial assets compulsorily measured at fair value through profit or loss - Debt securities

4.46%

3.61%

Financial assets measured at fair value with changes in other comprehensive income / Available-for-sale financial assets - Debt securities

2.61%

2.71%

3.21%

Financial assets at amortised cost

Loans and advances to credit institutions

1.07%

0.64%

0.92%

Loans and advances to customers

2.25%

2.28%

2.17%

Debt securities

0.68%

0.70%

0.85%

Held-to-maturity investments - debt securities

0.51%