Grupo Cajamar reported a consolidated net result of 174.13 million euros for the first half of the year, rising 191.7 percent and nearly tripling the 59.7 million posted a year earlier. The gain was driven by the strong performance of recurring revenues within the banking business.
In its latest notice on Tuesday, the group announced that the total managed business volume surpassed 100,000 million euros, underscoring the firm’s scale and confidence in its client base. This milestone reflects sustained demand for financial products and services across the bank and its regional network.
The current interest rate environment played a key role in expanding Cajamar’s recurring income and boosted the bottom line, with net interest income rising 30.9 percent year over year to 613.9 million euros. This growth demonstrates the bank’s ability to leverage rate moves to improve profitability while maintaining prudent risk controls.
The gross margin also advanced by 30 percent, reaching 788.9 million euros, fuelled by robust revenue from the bank’s core activities and a healthier credit portfolio. The lending to clients shows a notable 47.4 percent improvement, contributing to a stronger overall margin performance.
The return on lending improved by 47.4 percent, and the operating margin stood at 429 million euros, up 48.8 percent. These metrics highlight the bank’s efficiency in translating lending profits into a healthier operating result, supported by disciplined expense management and revenue diversification.
Expenditures rose by 12.9 percent, driven mainly by the year-earlier incentives paid to staff. After these adjustments, the operating result increased by 37.1 percent, reflecting the bank’s capacity to absorb costs while still delivering above-market earnings growth.
The return on equity, known as ROE in financial terms, climbed by 5.4 percentage points to 8.5 percent. The efficiency ratio improved to 45.6 percent from 52.5 percent in the previous year, signaling stronger productivity and better cost discipline across the organisation.
Retail resources managed reached 54,660 million euros, up 8.4 percent, supported by a 19.5 percent gain in off-balance-sheet resources, while gross lending to customers rose by 0.4 percent to 37,626 million euros. The diversification of the bank’s funding sources helped sustain growth in client activity and credit access during the period.
The non-performing loan ratio declined by 0.3 percentage points to 1.96 percent, reflecting continued asset quality improvement and effective credit risk management. On solvency, the fully loaded CET1 ratio rose to 13.8 percent, supported by the growth in high-quality capital and prudent balance sheet management.
Overall, Cajamar’s first-half performance demonstrates a strong ability to convert higher recurring income and prudent cost control into solid profitability, while maintaining robust asset quality. The results suggest a positive trajectory for the bank as it navigates a challenging macro environment and seeks to sustain revenue diversification and efficiency gains amid evolving market conditions.