CaixaBank closed the first nine months of the year with a profit of 4,248 million euros16.1% more than the same period last year, which the bank attributes to “strong growth in activity and its great financial solidity”.
The bank placed its profitability capital ratio (ROE) at 14.4% at the end of September, compared to 11.9% a year earlier, while its efficiency was 39.2%.
As for the delinquencythe rate remains at 2.7%, with a coverage rate of 71% and a cost of risk of 0.28%. The balance of doubtful debts amounts to 10.352 million at the end of September.
Europe Press
The bank assured that it had a “comfortable” position of liquiditywith assets growing by 18,284 million since December, to 178,487 million, while the Liquidity Coverage Ratio (LCR) was 213% at the end of the period.
The report of capital CET1 amounts to 12.2%, once taking into account the extraordinary impact of the two share buyback programs announced last March and July, as well as the fifth program announced last October.
Margins
He interest margin reached 8,367 million euros during the first nine months of the year, representing an increase of 13.6% year-on-year. Service revenues increased by 3.8%, to 3,674 million, and gross margin increased by 10.3%, to 11,793 million.
Being the gross margin higher than that of administrative costs and recurring depreciation (+4.5%, to 4,563 million), enabled the growth of the operating margin, which reached 7,230 million at the end of September (+14.5%).
Dividend
The bank’s board of directors has agreed to distribute an interim dividend of 40% of the consolidated net profit for the first half of 2024, for an amount of 1,070 million euros (0.1488 euros gross per share), payable in November.
This operation is part of the agreement concluded in February aimed at distributing between 50% and 60% of the consolidated net profit in cash.
Furthermore, the entity announced a fifth buyback program of shares for 500 million euros, which will begin “at some point” from November 19.
The program will have a maximum duration of six months from its start date, and the programs announced as part of the 2022-2024 Strategic Plan total 3.8 billion euros.
