CaixaBank ( (CAIXY) ) has released its Q4 earnings. Here is a breakdown of the information CaixaBank presented to its investors.
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CaixaBank, a prominent financial institution in Spain and Portugal, operates with a robust omnichannel distribution system and serves over 20 million customers. In its latest earnings report for 2024, CaixaBank reported a substantial increase in its attributable profit, reaching €5,787 million, reflecting a 20.2% growth from the previous year. The bank’s customer funds and loans also showed positive growth, contributing to its improved financial performance.
The bank’s key financial metrics highlight strong profitability with a return on equity (ROE) of 15.4% and a cost-to-income ratio of 38.5%. Notably, net interest income rose by 9.8%, driven by favorable market conditions and higher customer spreads. CaixaBank also approved a strategic plan for 2025-2027, focusing on growth, digital transformation, and sustainability, with significant investments planned in technology and sustainable finance.
In terms of risk management, CaixaBank maintained a stable non-performing loan (NPL) ratio of 2.6% and a high coverage ratio of 69%. Capital adequacy ratios remained strong, with a CET1 ratio of 12.2%, despite the impact of share buy-back programs. The bank’s liquidity position also remained robust, with a liquidity coverage ratio of 207%.
Looking ahead, CaixaBank aims to enhance its leadership position in the financial sector with its strategic plan, emphasizing customer acquisition, digital transformation, and ESG commitments. The bank’s management remains optimistic about achieving sustainable growth and maintaining strong financial health in the coming years.
