The banking business has grown by 44% due to the evolution of the interest margin and the contribution of the insured business, as reported by the Kutxabank Group.
The Kutxabank Group achieved a net profit of EUR 385.2 million in the first nine months of the year, 53.8% more than in the same period of 2022.
The banking entity stated in a statement that these results are based on the evolution of commercial activity and typical banking activities, which have grown by 44%, mainly thanks to the interest margin. Likewise, Kutxabank Seguros’ activity contributed a total of 125 million euros in revenue to the income statement during this period.
Customer resources managed by Kutxabank have continued to grow to 7.8%, reaching EUR 77,935 million. Specifically, it has registered a growth of 25% in mutual funds, 12% in term savings and savings plans, and 7% in pension products.
Kutxabank continues to gain share in the mutual fund market, where it was the fourth manager with the highest net subscriptions. It currently has almost 25 billion euros under management in investment funds.
On the other hand, Kutxabank has allocated a total of 2,524 million euros in new mortgage loans until September, above the entity’s expectations. Consumer loans, in turn, have grown by 10%, and commercial loans by 60%.
Source: EITB
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