The Great Spanish bank beat again in 2024 results records. The joint benefit of the six greatest banks (Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja) amounted to 31,768 million euros, amount that exceeds 20.54% at 26,088 registered a year ago. The amount exceeds 30.7 billion expected by the consensus of BloomERG, promoted by the good march of the business although the financial margin stopped in recent months due to the cut of interest rates in the different geographies where entities operate.
In Europe alone, the European Central Bank (ECB) reduced the types of the types during the past year – in January it cut them to 2.75% – after they were climbed from 0% between 2022 and 2023, firing by derivative the financial margin of the financial institutions for the consequent repreciation of their credit portfolio by collecting the rally experienced in parallel by the Euribor.
Banking neutralized the impact of 1,478.6 million for the imposite of the governmenthigher than the bite of 1,120 million of the previous year, with more income. The positive note of the result is that the entityS saved almost 1.9 billion by not having to make contributions to the Deposit Guarantee Fund (FGD) and to the Single European Resolution (FUR) fund for having covered its endowments the previous year; at the time they kept limited the evolution of the costs below the thrust of the income and reduced the provisions thanks to the good health of the balances.
Together, the accumulated gross margin In the six quoted that reflects bank income increased 11.67% and reached 124,509 million. It is the result of a rise of 8.41% in the contribution of the financial margin, which totaled 91,880 million; and of an increase of 11.48% in the contribution of the commissions that, thanks to the reactivation of the credit and the thrust of the commercial activity in savings or insurance, contributed another 27,363 million.
Spain has revealed itself as one of the great engines of the accounts, despite the impositeand has also favored the account a decrease of the less pronounced types than the one that months ago and that the delinquency continues down, allowing to reduce the invoice in endowments.
Santander linked its third maximum consecutive with an attributed benefit of 12,574 million, which grows 14% year -on -year and raised profitability over tangible capital (rotate) to 16.3% from 15.1% in 2023. The entity attributed it to the fort Income growth in all global businesses and regions, while the number of customers increased by eight million, to 173 million. The big ones TRACTING GEOGRAPHS OF THE ACCOUNT were Europe, with Spain at the head (its benefit increased 58.67%) and while in the United Kingdom, provisions in car financing penalized; United States (+19%) and Brazil (+26%).
BBVA He cut distances in full OPA to Sabadell. It reaped a benefit of 10,054 million, a figure that grows 25.4% year -on -year and raised the profitability of tangible heritage (rotate) to 19.7% after adding 11.4 million new customers and growing 9% the loan portfolio by 9% . By markets, Spain was the growth engine, with attributed benefit that grew by 39.1% and amounted to 3,784 million. In Mexico, on the other hand, limited its advance to 2.4% and added 5,447 million to the global result for the depreciation of the peso -in constant euros the account rises 5.8% -. In Türkiye it harvested another 611 million of attributed benefit, with an increase of 15.9% year -on -year, still penalized by hyperinflation adjustments although below the previous year.
Sabadell won 1,827 million, 37.1% more, well above the 1.6 billion he had estimated to beat. Its profitability climbed 12% in the year and ended in 14.9% Rote -14% without including extraordinary-, with a strong thrust of Spain and especially in its TSB franchise, which added 253 million to the result.
Caixabank raised its gain by 20.2%, to 5,787 million. Its profitability in terms of (Rote) increased from 15.6% to 18.1%, well above the objective of 16% established by the bank for this year and in line with the strategic plan 2025-2027 presented last November.
BankinterHe improved his account 12.8% and presented a historical gain of 953 million, with the profitability augated in 19% in their formulation on rotate and a 9% advance in gross income or margin and 15% increases in the contribution of commissions. The highest expansion of the account was starred by Unicaja with an interannual increase of 115% in the benefit, to 573 million, and increases from 4.1 to 9.1% in the rotation. Its expansion relied on a 14.9% growth in the gross margin and a 24.3% reduction in credit sanitation due to the reduction of unproductive assets.
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