| € billion | ||
| Assets | 2008 | 2016 |
| Central Bank (S.121) | 121 | 79 |
| Monetary Financial Institutions (S.122 + S.123) | 1,743 | 1,065 |
| Investment Funds (S.124) | 342 | 1,911 |
| Other Financial Corporations (S.125 + S.126 + S.127) | 884 | 1,367 |
| Insurance Corporations and Pension Funds (S.128 + S.129) | 243 | 394 |
| Total Financial Sector (S.12) | 3,334 | 4,816 |
The balance sheet of financial corporations (S.12) grew markedly since 2013, reversing the trend in the period over 2011 and 2012 of balance sheet contraction in the sector. The growth during the period 2014-2016 was driven primarily by activity in the Investment Funds (S.124) and Other Financial Corporations (S.125 + S.126 + S.127) sectors. The financial assets of sector S.12 increased by €176bn in 2016, while its liabilities grew from €4,658bn to €4,774bn during the same period. The evolution of the financial assets of S.12 from 2007 to 2016 is shown in Figures 1 and 2.