This paper aims to show the possible negative effect from granted real estate credits potential defaults on financial statements from both universal banks and savings banks. Applying accounting analysis and using data from annual financial statements, this goal is reached looking at the absolute difference between the results on banking operating activity and the levels of default risk on mortgages granted to households, on loans for mayor investments in real estate services. This research also warns about the high level of leverage allocated in the construction sector. This paper does not take into consideration the provisions collected from the Spanish financial system, but it presents a leading indicator of financial risk in order to observe that the aforementioned absolute difference is negative in both universal banks and savings banks when it is assumed not only that there are two ...