The Cajamar Group obtained a net profit of 245.97 million euros between January and September, a figure that represents an increase of 163.7% year-on-year, supported by a double-digit expansion of income and lower write-downs. The provisions item grew by 117.5%, to 214.35 million, but reduced losses due to asset impairment by 48.9%, to 141.77 million.
The evolution of the account allowed it to increase the return on equity (ROE) by 4.7 percentage points to 7.93%, according to information published this Wednesday by the entity.
The group, which has 3.8 million clients, increased its managed business volume by 3.13%, placing it at 100,837 million. In credit, its portfolio increased by 1.1%, to 37,096 million, with a 2.99% market share on a global scale and reaching 15.2% in the agri-food sector.
Customer resources grew by 8.6%, to 55,589 million: an increase of 24.1% in off-balance sheet resources such as investment funds or insurance, and an 8.6% increase in on-balance sheet retail resources such as accounts and deposits.
In the account, all its margins grow by double digits: the interest margin increased by 20.4%, the gross margin, or more comparable to an item of income, increased by 23.3%, and the operating margin by 34.6 % year-on-year.
The entity maintained the non-performing loan ratio at 2.06%, reduced net foreclosed assets by 37.2% and total doubtful risks by 5.8%. In solvency, the fully loaded CET1 capital ratio stood at 13.86%, higher than the 13.39% a year ago.
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