In the first quarter of 2024, CaixaBank reported a net profit of 1,005 million euros, a 17.5% increase from the previous year. The bank’s financial and commercial strength was attributed to growth in margins reflecting good business dynamics and containment of interest rates. Interestingly, commercial activity at CaixaBank saw significant growth, especially in new mortgage and consumer credit production.
CaixaBank’s business volume is close to one trillion euros, with customer resources increasing by 1% and healthy credit standing at 344,438 million. The bank’s CEO, Gonzalo Gortázar highlighted the bank’s solid profitability and efficiency despite challenges like the banking tax.
CaixaBank’s metrics such as NPL ratio, coverage ratio, liquidity ratio, and capital ratio remained stable or improved slightly by the end of the first quarter of 2024. It is also worth mentioning that CaixaBank made the decision to fully redeem an issue of preferred shares convertible into company shares for 1,000 million euros.
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