Reached Ibercaja 280 million euro net profit In the January-September period, it is 68.6% more than the same period last year. The bank noted at the end of this September: Highest net profit in nine months since 2015.
HE advancement of productivity and business dynamismSome of these include studies that focused on providing personalized response to customer needs and optimizing the cost structure in previous years. The main explanatory factors of this evolution.
Likewise, it is worth emphasizing his contribution. resource diversification strategy Customers turning to higher value-added products such as investment funds, retirement plans and life savings insurance They already represent 51.8% of the total of these resources.
Meanwhile, the increase in interest rates over the last year and a half has made it possible for the interest margin to rise through 2019. 501 million euros, 57.5% annuallyI more. Thus, the Bank’s recurring income increased by 31.3% to 912 million Euros. With this increase in recurring revenues and controlled expenses, Ibercaja increased its profit before provisions by 48.0% compared to the first nine months of last year, reaching: 441 million euros.
Last semester of the year
Three months after finishing Strategic Struggle Plan 2023Ibercaja far exceeds set profitability targets with an adjusted ROTE(i) of 11.0%; Solvency at CET1 rate fully loaded 12.9%; and asset quality, NPA rate 2.9%; and maintains a high LCR liquidity ratio of 199%, offering one of the most robust balance sheets in the Spanish banking sector.
Presence I won payment 60% of results go to shareholder foundationsIt allows them to carry out their actions of a social and cultural nature and to promote economic and regional development in relevant areas of action. Fees paid to the main shareholder Fundación Ibercaja also continued to feed the Reserve Fund at the end of September. amounting to 260 million eurosIt represents 83% of the total amount that needs to be completed by the end of 2025.
Industry leadership in contributions to investment funds until September
Ibercaja’s customer resources have increased by: Increased by 0.6% to €69,416 million in these nine months of 2023Thanks to the excellent performance of asset management and life insurance, which grew by 4 billion 341 million Euros,n 13.7% so far this year and the balance already represents 51.8% of total customer resources.
The bank continues to focus on diversifying its customers’ resources towards higher value-added savings products. levels of connection and satisfaction. In a new environment with higher interest rates, Ibercaja offers an attractive range of investment funds and life insurance that is highly adapted to the needs of its customers, supporting them and offering them answers in the midst of several months of uncertainty for companies. Financing of individuals, families and companies.
In this context, the Bank reached historic figures in net contributions to asset management and life insurance products by the end of September, reaching 3 billion 870 million Euros, which is equivalent to the entire contributions recorded in the last three years.