CaixaBank closed the first half of the year with profits of 2,137 million euros, which is 35.8% more than the same period in 2022, driven by the improvement in banking margins, a solid performance of its insurance business and due to the rise in interest rates.
The CEO, Gonzalo Gortázar, explained that the “solid result is a consequence of the good progress of the commercial activity, as well as the prudent management of credit risk”.
As communicated this Friday to the CNMV, the group added recurring income, derived from banking activity, of 7,110 million, 31.3% more than in the first half of 2022. Specifically, the interest margin, that is, , the difference between the profitability of the asset, such as the loans granted, and the interest paid by the bank, stood at 4,624 million euros, 55.2% more than a year earlier.
It also registered growth in the result of the insurance service (18.5%) and in the income from bancassurance affiliates (59.2%), which offset the 4.2% drop in commissions.
Specifically, CaixaBank entered 1,846 million through June from net commissions, basically impacted by the suppression of deposit custody commissions from large companies.
Non-performing loans, already at lows in recent quarters, fell again from 2.7% and stood at 2.6%, which is the best figure in the last 15 years.
Regarding capital, the CET1 ratio stood at 12.5%.
