(News Bulletin 247) – CaixaBank announces net profit of 855 million euros (+21.1%) for the first quarter of 2023 and maintains the strength of its balance sheet. Gonzalo Gortázar, General Manager, stressed 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, allowing ROTE to reach 10.5% and the cost/income ratio to improve to 48.2%. Gross income increased by 16.7%, under the negative effect of the extraordinary bank tax of 373 million euros.
Customer funds amounted to 614.61 billion euros, up 0.5%, after the bank recorded net inflows of almost 3.8 billion euros.
Performing loans amounted to 351.22 billion euros and have remained stable since the beginning of the year. The ratio of non-performing loans remains at a historic low (2.7%), with a coverage ratio of 76%, while non-performing loans fall to 10.45 billion euros, down from 243 million euros. euros during the quarter.
The bank has a strong liquidity and solvency position, with over €132.8 billion in liquid assets and a comfortable capital ratio of 12.6%.
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