Caixabank: 9-month net income of E4.25 billion (+16.1%)

(CercleFinance.com) - Net interest income reached 8.
37 billion euros in the first nine months of the year, an increase of 13.6%, underpinned by strong commercial activity and the current interest rate environment. On a quarterly basis, net interest income was virtually unchanged (+0.1%).

Gross income growth was up 10.3% year-on-year (to 11.8 billion euros between January and September), outstripping the rise in recurring administrative expenses and depreciation (+4.5% to 4.56 billion euros), which contributed to the rise in operating income to 7.23 billion euros at the end of September (+14.5%).

The Group, which serves 20.2 million customers through a network of over 4,100 branches in Spain and Portugal, exceeds 635 billion euros in assets.

The Group reported an attributable net profit of 4.25 billion euros between January and September 2024, 16.1% higher than in the same period last year (3.66 billion euros), thanks to strong growth in business activity and its high financial strength.

The Group also boasts a solid level of shareholders' equity, with a Common Equity Tier 1 (CET1) ratio of 12.2%, reflecting the impact of two share buyback programs announced in March and July.

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