CAIXABANK CEO Gonzalo Gortázar spoke candidly at a press briefing following the release of the bank’s results. He noted an expected rise in the reference index and emphasized that the bank would continue to compete based on market conditions. He also highlighted the institution’s social role in helping people save, cautioning that deposits alone should not be viewed as the ultimate long-term solution for savers.
In this context, Gortázar stressed that the social mission includes guiding customers toward investments with solid long-term potential. He asserted that, from an economic standpoint, relying solely on bank deposits is not the best strategy for savers and pointed to returns obtainable through diversified instruments beyond traditional deposits.
CaixaBank earns 21% more despite state bank tax
Regarding mortgage affairs, the leader anticipated that concessions would gradually fall to about 25 percent compared with the previous year. He recalled the bank’s efforts in recent years to promote fixed-rate products, noting how variable-rate movements driven by the Euribor impact borrowers and household budgets. Within CaixaBank’s portfolio, about 84 percent has already adjusted to higher rates, with an average monthly increase of around 90 euros expected this year.
Gortázar argued against broad policies such as curbing floating-rate mortgages. Instead, he advocated a targeted approach that prioritizes families facing difficulties. He warned that broad measures could be unfair to many customers who prefer fixed rates but would face higher costs otherwise, suggesting that policy should focus on those in genuine need rather than applying a blanket rule.
The leader also indicated a positive close to the year despite potential rises in defaults due to inflation and higher living costs. He projected a default rate in the mid single digits, with a cautious outlook for loan performance as macroeconomic pressures persist.
economic benefits
On the revenue side, CaixaBank reported a solid quarter with earnings up by 21 percent after adjustments. The leadership noted that the tax burden contributed to the overall results, highlighting that the bank disbursed a substantial sum to taxes this period. Gortázar described the outcomes as favorable since they began from a relatively low base, while stressing that the banking sector is currently not a dominant favorite among investors. He also commented on the bank tax imposed by the government, arguing that while profits are rising, opinions on tax policy should consider broader fiscal effects rather than singling out banking profits alone.