Of the outstanding balance sheet data for these first three months of 2023, Kutxabank officials have indicated that it is the second group with the highest net subscriptions in investment funds.
He Kutxabank group made a net profit of €110.7 million in the first quarter of this year 47.3% more than a year agoafter taking into account the EUR 47 million for the special tax on banks.
As reported by the entity, its results are “based on the good evolution of typical banking activities”, which grew by 29.3%, mainly due to the interest marginthat it is up 70% compared to the same period last year, “when the normalization of interest rates had not yet started.”
Of the outstanding balance sheet data for these first three months of 2023, those in charge of Kutxabank have indicated that it is the second group with the highest net subscriptions in mutual funds, capturing 15% of all new entries.
The entity has commented that all significant margins of the income statement “have evolved favorably during this period”. The so-called “Core” income of the banking business stands out, which has registered a growth of 29.3%, a total of 383.3 million euros, “driven mainly by the interest margin”.
Kutxabank has allocated a total of 836 million euros for new mortgage loans, “above the entity’s projections”. The default rate stands at 1.4%, “again the lowest in the entire industry,” the entity said.
Source: EITB
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