Caixabank: Q1 earnings up 21% to E855m
(CercleFinance.com) - CaixaBank has announced Q1 2023 net profit of E855m (+21.
1%), maintaining the strength of its balance sheet.
Management said that "these results reflect our ability to meet the needs of our customers. A sound and reliable financial system is essential to support the economy as a whole.
All margins improved, enabling its ROTE to reach 10.5% and the cost/income ratio to improve to 48.2%. Gross income increased by 16.7%, negatively impacted by the extraordinary bank tax of E373m.
Customer funds amounted to E614.61bn, up 0.5%, after the bank recorded a net inflow of almost E3.8bn.
Performing loans amounted to E351.22bn, having remained stable since the start of the year. Its non-performing loan ratio remains at a historically low level (2.7%), with a coverage ratio of 76%, while non-performing loans fell to E10.45bn, having fallen by down by E243m over the quarter.
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