The entity has indicated that they have managed to achieve “remarkable increases” in their main business areas, both in loans to households and businesses and in savings.
Laboral Kutxa ended 2023 with a profit after tax consolidated from 222.7 millionprior to allocation to the cooperative’s social work funds, which amounts to: 47.99% increase compared to the previous year when it received 150 million. In a statement, Laboral Kutxa indicated that in the field of banking, the “turn” in monetary policy has “entailed an expansion of the margin of operating accounts.” of financial entities.
The entity added that they, in turn, have managed to add some to this section “remarkable increases” in the main business areas, both in the part of loans to families and businessesas in the part of the savings.
As a result of this economic context and the commercial momentum of the year, Laboral Kutxa ended the year 2023 with a consolidated profit after tax of 222.7 million euros, before allocation to the cooperative’s social work funds. (ROE) to 10.78%. The entity has estimated provisions for provisions, provisions and other impairments at 66.53 million.
As he noted, these good results endorse the ‘solid’ position of Laboral Kutxa, which also remains the case the “most solvent” entitywith an adequate risk policy, a high level of capitalization and a comfortable liquidity position”.
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.
