In the first quarter of 2024, Kutxabank Group has positioned itself as the third entity with the highest net subscriptions to investment funds, with an inflow worth 712 million euros and a market share of 7.5%.
He Kutxabank group ended the first quarter of 2024 with a net profit of 120 million euros8.5% more than in the same period of 2023.
As reported by the financial institution, the results are based on “the evolution of commercial activity and typical banking activities”, which have grown by 32%, “driven mainly by the interest margin and a notable increase in commissions for insurance and services. “, especially those derived from off-balance sheet products such as investment funds, delegated portfolios and pension products.
The Basque bank has emphasized that this growth has taken place in a quarter in which Kutxabank “has eliminated commissions for over a million residential users“. As specified, the adaptation of the free profile to the minimum connection conditions has also led to a growth of 12.6% in the number of new customer registrations.
Between January and March this year, Kutxabank’s client assets under management grew by 6.9%, “driven by off-balance sheet resources and including the contribution of private banking.” In this way they have reached 81,332 million euros, with a growth of 15% in investment funds, 58% in term savings and savings plans, and 9% in pension products.
In the first quarter of 2024, Kutxabank Group has positioned itself as the third entity with the highest net subscriptions to investment funds, with an inflow worth 712 million euros and a market share of 7.5%.
Source: EITB
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