Unicaja Banco Group achieved a net profit 267 million euros at the end of fiscal year 2023It decreased by 4 percent compared to the previous year. The financial institution, which submitted its annual results to the National Securities Market Commission (CNMV) this Tuesday, confirmed that it has carried out these studies. Charge-offs of €546 million for the full year This will allow “the rapid reduction of non-productive assets and continued significant improvement of structural profitability.” He also underlines, without effect: New provisional tax in bankingNet profit of 63.8 million (all calculated in the first quarter) it would be 330 million19% more than in December 2022.
Unicaja announced that the tax contribution agreed by the group in 2023 reached 461 million euros, a volume 14% higher than in 2023.
With a slight decrease in expenses as a result of growth in interest margin and commissions, the basic result (the sum of interest margin and commissions minus operating expenses), which is the main indicator of the profitability of a typical banking business, increases by 1 times. 39.6%. All margins increased year-on-year: interest margin 26.1%; gross profit margin 10.6%; and operating margin before provisions is 23.2%.
On the other hand, the financial institution also stated that the board of directors plans to submit the proposal to distribute a cash dividend of 132 million euros for approval at the next ordinary general assembly meeting.
Likewise, the board of directors, which is waiting to receive authorization from the European Central Bank, also wants to conduct a study. own share buyback program In order to reduce the company’s social capital. This is intended to be done through the depreciation of treasury shares representing a maximum of 3.8% of the capital to a maximum value of €100 million.
income statement
Turning to 2023 results, the total of retail customer resources reached 88.825 million. Off-balance sheet and insurance resources increased by 4.1% annually to 21,087 million. Total resources managed increased by 0.6% annually to 98,747 million.