Bank Cajasur closed the balance in September passed with a result net positive of 30.1 million euros during the first nine months of the year, according to data provided by Kutxabank in a note. The one-year comparison is slightly lower than at the end of the third quarter of 2023, which recorded a record positive result with 32.3 million euros, or 53% more compared to the same period of 2022.
The financial group that makes up the Cordoba bank achieved a net profit of 396.2 million euros during the same period, after growth of 2.8% compared to the same period of the previous year. As reported in a note, “the bank thus exceeds its strategic objectives of growth and diversification”.
The influencing factors of this data are, according to Kutxabank, the “core” activity which increased by 16.4% thanks to the increase in net interest income (+23.4% to €1,031.8 million) and the positive development of services and insurance, as well as as well as the growth of income from off-balance sheet resources, such as investment funds, delegated portfolios and retirement products.
Kutxabank Trade Margin
The rating of the banking entity based in the Basque Country continues to refer to the behavior of its commercial activity. According to the financial group, its position on the “podium for net subscriptions of investment funds managed, up 7.1%”; reached a new record in consumer loans (+22.4%) or increased commercial credit activity by 30%.
Likewise, according to this note, Kutxabank materialized more than 2.3 billion euros in new mortgage loans and financing in the wholesale segment increased by more than 1 billion euros. In response to this business development, the entity recorded an increase of 88,000 new customer registrations (+20%), according to its data.
In more detail, the credit to families and businesses increased by 0.4% in the new first months, to 47,328 million euros. 81% of real estate loans taken out were marketed via digital processes.
He insurance field obtained the signature of 91,810 new contracts, representing an increase of 3.8% compared to September 2023. The entity also launched the first investment platform that transfers personalized attention to a 100% digital world and applies artificial intelligence in investment management (FINNK).
