The wind blew its tail banking thanks last year rate increases. Spanish organizations won 19.430 million euros for their business in the country in 2022, that is, 4.983 million and one 34.5% more More than 2021 as published by the Bank of Spain. To put it in perspective, this greater benefit industry in Spain since 2007when it comes to achieve all-time high 25,111 million supported by the excesses of the real estate bubble. even taking into account effect inflation (which was higher than today a few years ago), earnings in the country highest since 200818,421 million in nominal terms and 23,109 million by applying accumulated CPI.
It can be argued that 2007 and 2008 benefits It is not a good point of comparison as it is doping by housing bubble and they hid heavy losses emerged in the following years and biggest banking crisis More importantly, last year’s profit of banks in Spain strokes by far Annual average since 1992 -when the historical series of the Bank of Spain began- both in nominal terms (5.871 million), much more relevantly, considering inflation (8.675 million).
Increases in official rates, European Central Bank The (ECB) tries to combat the inflationary spiral that largely explains the increase in profits for businesses in Spain. so your interest margin -income from the difference between what they receive for loans and what they pay for deposits- last year 24,435 million 2,112 million euros and 9.4% more Highest amount since 2021. 26,409 million 2015the first full year after the central bank begins placing zero and negative rates revitalize the eurozone economy.
Greater customer profitability
This commissionsOn the other hand, he decreased by 6.9%, up to 12,958 million. The sum of the interest margin and commission income at which the rate of 4.8% of the temporary and extraordinary “tax” applied to the banks encouraged by the government is applied. 37,393 million. However, the tax does not apply to all items for which the final collection figure will be approximate. 1.274 millionAs anticipated by the government.
Moving down the income statement, portfolios variable income investments contributed 66% moreup to 15,823 million Total revenue growth of the industry 16.7%, at 53,215 million. This billson his behalf down 1.4%As it rose to 25,006 million, provisions to face losses experienced a significant decrease of 36%, up to 6.101 million. HE job resultAs a result of all this, more than twiceIt rose 110% to 22,108 million.
Less extraordinary, more tax
The improvement in ultimate benefit was lower due to two factors. on the one hand absence of extraordinary results positive in 2022, reached 5.612 million in 2021, above all capital gains millionaires for absorption Bankia by CaixaBank and public offering Direct line with banker. Second, because the amount he pays Corporation tax I almost know doubledfrom 731 2.150 millionboth because of the improved outcome and because banks used it in 2021 tax rights to lower taxes created by the advance tax payment of the extraordinary provisions they had to make both in the financial crisis and in the first phase of the coronavirus. That’s the highest amount since 3,226 million in 2017.
HE total benefit The overall state of the industry, including other businesses such as international, will be known when the Bank of Spain publishes the report in April, but ten major bankswho previously presented the results, They earned 21,678 million euro last year 4% more more than 2021. The figure for the industry as a whole will only be slightly higher because the rest of the organizations have a much lower market share. Other than surprise, it shouldn’t stray too far from the €23,592m in 2021.