The entity’s main activity grew by 16.4% to 1,514.5 million. In addition, financing in the wholesale segment has grown by more than 1 billion euros.
The Kutxabank Group has a net profit of 396.2 between January and September 2024, 2.8% more than in the same period of the previous year, thanks to the boost your commercial activity.
As reported in a statement from the Basque group, the bank exceeded “its strategic growth and diversification objectives” in the first nine months of 2024, driven by the ‘core’ activity, growing by 16.4%to 1,514.5 million euros, as well as the increase in the interest margin to 1,031.8 million euros (+23.4%) and the “positive evolution” of services and insurance.
“Growing income from off-balance sheet assets, in addition to investment funds, delegated portfolios and pension products, has also contributed. Kutxanbank has assured that its commercial activities have stood out “in virtually all its vectors of expansion”. consolidated its position “on the podium” in terms of net subscriptions to managed investment funds, which grew by 7.1%.
It also achieved “a new record” in consumer lending, up 22.4%, increased commercial lending activity by 30% and generated more than €2.3 billion in new mortgage loans. Furthermore, the financing in the wholesale segment has grown of more than 1000 million euros.
In response to this evolution of the company, the entity has recorded an increase of 88,000 new customer registrations, representing a 20% increase.
Source: EITB
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