CaixaBank reported a net profit of 1,005 million euros in the first quarter of 2024, a 17.5% increase from the previous year. The bank’s financial strength and commercial growth were credited with driving this increase, especially in new mortgage and consumer credit production. CEO Gonzalo Gortázar highlighted the bank’s solid profitability and efficiency, despite challenges like the banking tax.
Commercial activity at CaixaBank saw significant growth, with business volume close to one trillion euros and customer resources increasing by 1%. Healthy credit standing at 344,438 million was also maintained. The bank’s metrics remained stable or improved slightly by the end of the first quarter, including its NPL ratio, coverage ratio, liquidity ratio, and capital ratio. CaixaBank also decided to fully redeem an issue of preferred shares convertible into company shares for 1,000 million euros.
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