In addition, it expanded its banking activities by 41%, mainly due to the evolution of its interest margin. On the other hand, it has paid out to its shareholder foundations (BBK, Kutxa and Vital) the largest dividend in its history (306.43 million) and paid out 1,314 million euros, 26% more.
Kutxabank has one consolidated profit of 510.7 million euros at the end of 2023, 54.5% more than in the same period of 2022. The entity has expanded its banking activities by 41%, mainly due to the evolution of the interest margin, and has paid its shareholder foundations – BBK , Kutxa and Vital – the largest dividend in its history (306.43 million).
The financial entity generated in 2023 income worth 1879.3 million euros, and 70% of these resources returned to societya total of 1314 million euros26% more, between payments to suppliers (10.9%), taxes (23.8%), employees (18.9%) and dividends to shareholder foundations (16.3%). The rest of the funds generated have been spent on strengthening the bank’s solvency and future sustainability.
In a note released to the media, Kutxabank’s president said: Anton Arrioladescribed the result obtained as “very good” and emphasized the “important value” that Kutxabank generates for society as a whole.
“Our role is to provide economic and social value and promote the development of companies and individuals. The 5,000 people who work at Kutxabank are committed to this,” he added.
Kutxabank has explained that its results are based on the evolution of commercial activity and company typical bankingwhich grew by 41.3%, mainly due to the interest margin.
Referring to insurance activityhas generated a total of 167 million this year.
Finally, Kutxabank has positioned itself as the third entity with the highest net subscriptions in 2023. investment fundswith entries worth 2,769 million euros and a market share of 7.5%.
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.
