He returns to register a new historical quarter. The benefit of the entity between January and March has been 3,402 million euros, 19% more than in the same period of the previous year. Profitability scale up to 15.8% and the bank, in the midst of macroeconomic and commercial tensions, maintains all its forecasts for the year.
The benefit improves that income remains plans due to the fall in interest rates. The interest margin drops 5%, to 11,378 million, while the commissions total 4%, to 3,369 million. Thus, the gross margin rises by 1%, to 15,537 million.
Bank’s income suffers from the currency effect. Without this, the margin of interest would fall by 2%, while the commissions would add 9%. And the gross margin would increase by 5%.
On the other hand, the entity’s benefit is backed by the new design of the Spanish bank tax. While its previous version, as tax, forced banks to pay their entirety in the first quarter, now they do it month by month, so the impact of this matter has gone from 335 million to 87 million. Without this accounting effect, the benefit would have risen 10%.
In the intertrimestral calculation (compared to the 2024 fourth trmestre), the benefit rises 4%. The gross margin yields 3%, for a 5% drop in the interest margin and 1% in commissions.
The bank confirms all its objectives by 2025. Specifically, income of 62,000 million, a growth of commissions to a medium high digit, the CET 1 ratio fully loaded in 13% and profitability in 16.5%. In addition, he has also pledged to return 10,000 million to his shareholders between dividends and repurchases in two years.
At the same time, the costs fall 1%, to 6,489 million, which the bank attributes to the implementation of the group’s business plan, known as One Transformion, based on giving priority to the organization in global businesses to the detriment of the regions. All this leads to an improvement in efficiency up to 41.6%.
The Cetio Capitio Ratio fully loaded It stood at 12.9%, one tenth above that the figure of December 2024. The delinquency remained stable at 2.99%and the cost of risk, at 1.14%.
For global businesses, the Retail bank area gained 1.9 billion, 28% more, with 2% increase in income. The private bank branch also pocketed a benefit of 28% more (500 million) for a 30% improvement in payments (100 million) and 18% in investment bank (800 million). The Digital Consumer Bank (which incorporates consumption credit and OpenBank) recorded the improvement for the smallest benefit, of 6%.
News in development. There will be extension
