CaixaBank got a Attributed net profit of 4,248 million euros until September, a 16.1% more than in the same period of the previous year, thanks to an increase in activity, supported by intense commercial dynamics.
Customer resources have increased by 43,502 million, 6.9%, and new credit production advances by 20% compared to the first nine months of 2023, as reported this Thursday by the bank to the National Securities Market Commission (CNMV).
The interest margin rose by 13.6% and the non-performing loan ratio remained at 2.7%, a historically low level, the entity reported. This happened one day after announce that Tomas Muniesa will take over in January José Ignacio Goirigolzarri in the presidency of the bank.
Total liquid assets reach 178,487 million and the CET1 quality capital ratio stands at 12.2%, while the return on tangible capital (RoTE) remains at 16.9%, unchanged compared to June and up from 14.1% in September last year.
The CEO of the entity, Gonzalo Gortázarhas declared that the third quarter continued the positive trend of the first six months of the year, with “intense commercial activity, contained delinquencies, solvency and liquidity well above requirements and profitability that has reached reasonable levels.”
So far this year, CaixaBank has registered a intense commercial activity in wealth management products. Net subscriptions to investment funds, savings insurance and pension plans have reached 8,777 million, 54.3% more, which has allowed improvements in market shares, the bank emphasizes.
The healthy credit portfolio stands at 344,678 million at the end of September and shows a slight increase of 0.2% in the year, with a “good performance of new credit production in all segments”.
New mortgage production reaches 10,343 million until September, 55% more, of which around 75% corresponds to a fixed rate. Of the entire portfolio, almost 40% is at a fixed rate. Regarding consumer credit, 9,021 million were granted in the first nine months of the year, which represents an increase of 15%. In companies, new production reached 31,548 million, 14% more, and in the SME segment a total of 124,633 operations were signed between January and September, 25% more.
The net interest margin stood at 8,367 million euros in the first nine months of the year, an increase of 13.6%, supported by intense commercial activity and the interest rate environment. On a quarter-on-quarter basis, the margin remains practically stable, with a slight increase of 0.1%.
Income from services (wealth management, protection insurance and banking fees) rise 3.8%up to 3,674 million. The board of directors of CaixaBank has approved the distribution of an interim dividend of 40% of the consolidated net profit for the first half of 2024, for an amount of 1,070 million (14.88 gross cents per share), to be paid in the month of November.
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