CaixaBank earned 839m euros during the first half of 2017, which represents a 31.6% increase over the same period from last year. This net profit is mainly due to an increase in bank revenue as well as the results of Portugal's Bank of Investment (BPI), that was incorporated in February until the end of June, contributing 77 million euros to the group.
In this way, the CEO of CaixaBank, Gonzalo Gortázar, is fully satisfied with the results obtained: strong growth of long-term savings and credit, improvement of asset quality, and a strict discipline on costs. For the moment, the consensus of analysts already anticipates a net profit superior to 1.6 billion euros at the end of the year.
In figures, the gross margin amounted to 4,280 million (5.7% more), the gross credit to the clientele of 228,435 million (11.5% more), the margin of interest reaching 2,349 million (15.1% more), and the non-performing loan ratio standing at 6.5% (well below the industry average).
Without political debate
The referendum made an appearance twice in the presentation of CaixaBank's results. However, Gortázar avoided entering the political debate, recalling that the group's objective is to grow, above all organically, to continue integrating BPI in the best possible way and to provide a better service to customers from all over Spain.
"This is what we have been doing all these years and what we will do in the coming months," said Gortázar, just before recalling that CaixaBank has already managed to grow "in situations of more or less tension", and will continue to do so in the future, whatever the scenario.
The fishing of Banco Popular
The entity chaired by Jordi Gual maintains leadership in retail banking and has the largest market share in clients and payrolls. Specifically, a quarter of the whole of Spain. In the face of the crisis of Banco Popular, finally bought by Banco Santander, Gortázar recognised that CaixaBank has attracted some of their customers.
"We are one of the beneficiaries regarding the departure of customers from Banco Popular," he claimed. Without wanting to give specific figures, it was made clear, despite being "open to new customers", CaixaBank had not carried out any "campaign or programme focused on any entity in difficulties".