The bank posted a year-on-year profit of 21.1%, despite the payment of €373 million in extraordinary taxes, representing 30% of profits.
CaixaBank closed the first quarter of the year with a net profit of 855 million euros, 21.1% more than in the same period of 2022, despite paying 373 million euros for the extraordinary tax on banks, which represented 30% of the benefits.
The CEO, Gonzalo Gortázar, emphasized “the privileged liquidity and solvency position of the entity” as it has more than €132 billion in liquid assets and a capital ratio of 12.6%, taking into account the context of financial uncertainty.
Return on equity (ROTE) reached 10.5% at the end of the period, “still below the cost of capital, although much higher than the previous year’s 7.6%”, while the efficiency ratio has fallen to 48, 2%.
With regard to the core incomeduring the first three months of the year, CaixaBank has earned 30.4% more —to 3,449 million euros—, with an interest margin growth of 48.6%. Dividend income also increased to 68 million after the registration of the entire Telefónica dividend, while income from financial transactions fell by 42.7%.
Also the sofa has been increased customer base to 614 608 million 0.5% more at the end of March, “thanks to the good evolution of long-term savings products and the recovery of the financial markets”.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
