The result is 48% lower than last year when the merger is taken into account, although all margins of the entity are improving
Until September, CaixaBank posted a net attributable profit of 2,457 million euros, 17.7% more than in the same period last year on the basis of homogeneous scopes, i.e. without taking into account the extraordinary effects that improved its result last year, if due to the effects of the integration of Bankia.
The result increased by 21.5% excluding the extraordinary effects of the merger; When the effects of the integration are taken into account, it decreases by 48.8% as the profit until September 2021 was 4,801 million due to the positive accounting contribution of 4,300 million from the badwill and other associated exceptional results.
In comparable terms, sales amounted to 8,647 million euros (2.7% more) and the interest margin decreased by 0.4%; and the growth of the gross margin (+2.7%) and the reduction of the recurring administration and depreciation costs (-5.9%) allow a growth of the operating margin without exceptional elements (14%).
Specifically, personnel costs decreased by 8.5%, reflecting post-employment savings savings, while overheads decreased by 6.6%.
Dividend income (132 million from January to September) includes dividends from Telefónica and BFA in the second quarter of 38 and 87 million respectively (51 and 98 in 2021).
Until September, the entity registered an increase in the healthy loan portfolio of 11,491 million (3.4%), to 351,462 million euros, while the healthy portfolio of companies grew by 7%, in consumption by 3.6% and in mortgages , 0. 8%.
CaixaBank has pointed to the sale of mortgages to private individuals, with concessions doubling compared to the same period of the previous year to 10,527 million euros.
In consumer credit, new financing amounted to EUR 7,681 million from January to September, which represents an increase of 23%, and in financing for businesses, new business amounted to almost EUR 32,000 million, up 47% year-on-year. – annual rate.
Assets under management amounted to EUR 144,133 million, down 8.8%, reflecting a context of strong market volatility, and the entity highlighted net fundraising of EUR 10,948 million.
CaixaBank has recorded a non-performing loan ratio of 3% and is at its lowest level since 2008, while doubtful balances fell to 11,643 million euros due to the evolution of asset quality indicators and the active management of non-performing assets. performing loans, down 1,991 million in the year and 782 in the quarter.
The cost of risk over the past 12 months remains low (0.23%) and bad debts amounted to 7,867 million euros at the end of September, and the coverage ratio is improving, increasing by five points to 68% .
Source: La Verdad
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