Spain · Delayed Price · Currency is EUR CaixaBank Earnings Call Transcripts
Fiscal Year 2026
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Strong commercial and digital momentum drove 8% growth in customer funds and loans, with net income up over 10% year-on-year and RoTE at 18%. Wealth management and insurance segments excelled, NPL ratio improved to 1.78%, and guidance for NII and loan growth was reconfirmed.
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Updated macro forecasts support robust loan and deposit growth, with ROTE targets raised to 18%+ for 2026 and 20% for 2027–2028. NII and fee income are set to benefit from higher rates, maturing hedges, and strong wealth and insurance inflows, while cost-to-income is targeted in the high 30s by 2027.
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Q1 2026 delivered 7% revenue and net income growth, with ROT upgraded above 18% and strong asset quality. Lending, deposits, and insurance all posted robust gains, while digital transformation and capital returns continue to support positive outlook.
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The AGM highlighted robust financial growth, increased dividends, and ambitious new strategic targets, while also addressing significant staff unrest, union-led strikes, and shareholder concerns about customer service, digital inclusion, and ethical financing. All agenda items, including board changes and remuneration policies, were approved by a strong majority.
Fiscal Year 2025
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Achieved record results with net income up 1.8% to EUR 5.9 billion and return on tangible equity at 17.5%. Upgraded 2027 targets include 20% ROTE, 6% CAGR in lending and customer funds, and NII of EUR 12.5 billion, supported by strong asset quality and digital transformation.
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Strong loan and client growth, robust asset quality, and upgraded return on tangible equity guidance highlight continued outperformance. NII is set to accelerate from H2 2025, with capital and liquidity metrics well above targets.
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Profitability and growth are exceeding expectations, with RoTE above 16% and upgraded NII guidance for 2027. Lending and deposit growth are robust, non-interest income is structurally strong, and asset quality remains high. Capital returns and IT investments support long-term sustainability.
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Strong Q2 and H1 2025 results with 10% net income growth, robust loan and deposit expansion, and upgraded guidance for revenue and cost of risk. Asset quality and capital ratios remain strong, with digital initiatives driving client acquisition and profitability.
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Q1 2025 saw robust client and loan growth, improved asset quality, and a 46% rise in net income. Guidance for 2025 is reiterated, with strong capital, liquidity, and ongoing share buybacks. Asset quality and cost of risk remain strong despite global uncertainties.
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The meeting approved strong 2024 results, a higher dividend, and a new strategic plan focused on growth, digital transformation, and social responsibility. Shareholders and unions voiced concerns about staff well-being and governance, while all agenda items were passed by majority.
Fiscal Year 2024
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Strong growth in customer funds, net income up 20%, and cost-to-income at a record low. 2025 guidance anticipates NII decline, stable deposit growth, and continued capital returns, with robust asset quality and market leadership in key segments.
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The plan targets over 4% annual growth in business volumes, stable NII, and RoTE above 15%, supported by digital transformation, strong capital returns, and a focus on sustainability and social impact. Strategic investments in technology and efficiency are expected to drive long-term profitability.
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Q3 2024 saw strong growth in customer funds, lending, and wealth management, with net income up 3% year-over-year and robust capital generation. The bank announced a €1.1 billion interim dividend and a €500 million share buyback, maintaining a CET1 ratio of 12.24%.
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Strong operating and financial performance in H1 2024, with net income up over 30% year-over-year, robust loan and deposit growth, and upgraded NII and RoTE guidance. Asset quality and capital remain strong, supporting increased shareholder returns.
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Economic conditions in Spain and Portugal are outperforming expectations, supporting upward revisions to growth and lending forecasts. NII guidance is raised, with stable deposit costs and strong wealth management and insurance businesses. Capital allocation remains focused on organic growth and shareholder returns, with digitalization and sustainability providing additional tailwinds.