Unicaja Banco, the fifth Spanish subsidiary by asset volume after the merger with Liberbank, registered in the first half. Net profit of 165 million euro, representing a 62% increase Compared to the same period in 2021.
Supported by the result of the group interest margin recovery In addition to the increase in net income in the last quarter, commissionsAnd in reduced management costs and credit restructuring needs as reported to the National Securities Market Commission (CNMV).
margin areas of interest reached 501.6 million €“When the Euribor floor is surpassed in negative territory, it starts to recover its growth path”, with 13.8% growth in the second quarter compared to the first, despite being 7.6% below the figure recorded a year ago.
this net income from commissions experienced a “solid increase” of 12.8% growth from mutual funds, cards and insurance activities reached 264 million on an annual basis.
Improvement in the income statement cost reducingAs 56% of planned staff exits have been realized, it “reflects the initial synergies from the implementation of the restructuring plans already being realized”.
this administrative expenses decreased by 9% According to the first half of 2021, it will reach 390 million.
this banking activity margin (interest income plus commissions less administrative expenses) increased year over year 7.9%gross margin increased by 0.8% and operating profit before provisioning increased by 14.5%.
Purely in relation to the results of the banking business, Unicaja underlines the increase in business activity, which reflects more New loans and loans of 5.3 billion euros With an increase of 2.1% compared to the previous quarter of resources given or managed in the first half.
underline “despite the negative economic-financial context for savings” Due to the high uncertainty, inflation and “high volatility” in the financial markets, net subscriptions have been made in Turkey so far this year. mutual funds Reaching 379 million, it reached 11,759 million assets, up 2.7% year on year.
positive development of results asset quality improvementIndicates Unicaja and the default rate remains at 3.5% and “still below industry average” The volume of non-performing assets (NPA) decreased by 222 million, or 5.4%, year-on-year.
gives existence “Continuity with traditional common sense policy” and holds andhigh level of coverage It covers non-performing assets by 64% and non-performing assets by 65% against “possible deterioration in environmental conditions”.
required in the first semester credit rating Compared to 58 basis points in the same period last year, the cost of risk decreased by 43.6% compared to the same period of the previous year, while the cost of risk decreased to 27 basis points.
The bank also underlines its high solvency levels. Since CET 1, capital of the highest quality stood at 12.8%, with a capital surplus above regulatory requirements of 1,583 million.
At the end of May, technological and operational integration free bank inside Unicaja Bank, A process that includes the integration of 575 offices and centers, 1,249 ATMs and 2,700 mobile devices from the Asturian origin entity, “according to the planned schedule and in less than a year”.
Unicaja Banco’s strategic lines include the promotion of digital business, and at the end of the first period, 59% of its customers operate through this channel.