The six Spanish banks listed on the IBEX 35 closed the first nine months of 2024 with an attributable net profit of 23,656 million euros, which translates into an increase of 19.7% compared to the same period of last year, according to accounts from the entities that Europa Press compiled.
Banco Santander remained the bank with the highest profit volume, with a profit of 9,309 million euros, or 14.3% more. They are followed by BBVA, with 7,622 million (+27.9%); CaixaBank, with 4,248 million (+16.1%); Banco Sabadell, with 1,295 million (+26%); Bankinter, with 731 million (+6.8%) and Unicaja, with 451 million (+58.2%).
They are making their income skyrocket at the same time as they are demanding the abolition of the special tax. For example, the CEO of Santander, Héctor Grisi, justified that “the banks already pay enough taxes”. Additionally, Bankinter CEO Gloria Ortiz criticized it for being “discriminatory.”
92 billion in revenue in nine months
The total income (gross margin) of the major Spanish banks amounted to 92.2 billion euros between January and September, or 10.5% more. Of this figure, net interest income (interest margin) amounted to 68.542 million euros, or 8% more.
During the third quarter alone, the profits of the six entities as a whole amounted to 8.367 million euros, or 2.8% less than in the second quarter, coinciding with the peak of profitability in the face of the new monetary environment.
By entity, Banco Santander gained 3,250 million, or 1.3% more than in the second quarter, while BBVA fell 6%, to 2,627 million euros. CaixaBank gained 1,573 million between July and September, or 5.8% less, while Sabadell advanced 4.1%, to 503 million euros. Bankinter obtained a net profit of 258 million, or 5.5% less, while Unicaja contracted by 14.7%, to 157 million.
The gross margin of listed banks amounted to 30,862 million euros in the third quarter, which translates into a decrease of 3.6% compared to the second quarter of the year. On this figure, the interest margin fell by 3.8%, to 22,092 million euros.
