CaixaBank

Caixabank

Caixabank’s stake in Telefónica reduced to 2.510%

Link Securities| The Catalan entity informed that it has decided to partially liquidate a hedge on a 1.957% of its 3.510% stake in Telefónica by delivering a 1% stake. The stake in Telefónica will therefore be reduced to 2.510%. Caixabank estimates that this transaction will have no material impact on the income statement or the CET1 ratio. CaixaBank’s stake in Telefónica thus falls to the lowest level since it notified…


caixabank2

Caixabank approves share buyback programme for maximum €500 M of treasury shares

Link Securities| As reported in a Significant Event sent yesterday to the Spanish National Securities Market Commission (CNMV), the Board of Directors of Caixabank (CABK) has agreed to approve and initiate a programme to buy back its own shares for a maximum amount of €500 million. The objective of the programme is to reduce Caixabank’s share capital following the redemption of the treasury shares acquired. The capital reduction may be…


caixabank2

CaixaBank posts profit of €4.82 billion in 2023, up 53.9%, and will pay €2.89 billion dividend

CaixaBank Group posted an attributable net profit of €4.82 billion in 2023, up 53.9% against the €3.13 billion reported in 2022. The Group serves 20.1 million customers through a network of around 4,200 branches located across all of Spain and Portugal and has more than €600 billion in assets. The Board of Directors has submitted a proposal to the General Shareholders’ Meeting for the payment of a cash dividend of…


caixabank2

CaixaBank prepares website for sale of second-hand vehicles

Norbolsa | The bank will launch a digital platform for the sale of second-hand cars in the first half of 2024. In this regard, the company is finalising the creation of a digital platform for the sale of second-hand vehicles from a network of eight selected dealers that will cover the whole of Spain. This list of dealers will also be joined by Arval, a subsidiary of BNP Paribas that…


caixabank sunset

Caixabank reaches 94.54% execution of buyback of own shares, of a maximum amount of €500 M

Alphavalue/DIVACONS| The Catalan bank reached 94.54% execution of its buyback of its own shares in the first fourteen weeks since the start of the programme, whose maximum amount is €500 million. In these fourteen weeks, the bank has already disbursed €472.1 million to acquire 122.1 million of its own shares, according to the information sent to the Spanish National Securities Market Commission (CNMV). Caixabank: Buy, Target Price €5.36/share.


caixabank sunset

CaixaBank reports net profit of €3.66 billion in first 9 months of year, up 48.2%

In the first nine months of the year, core revenues were up 34.3% year-on-year to €11.13 billion, driven by net interest income, which stood at €7.36 billion, up 60.7% on the same period of 2022. The growth in NII, compounded by the improvement in insurance service result (+21.2%) and equity accounted income from bancassurance stakes (+47.6%), offset the 5.3% decline in net fees. Specifically, recurring banking fees dropped by 9.1%…


Caixabank sede madrid

Caixabank reaches, for first time and ahead of schedule, six million direct deposit of salary payments

Link Securities | The newspaper Expansión reports in today’s edition that Caixabank has reached for the first time in its history the milestone of six million direct deposit of salary payments thanks to its latest commercial campaign, reaching in seven months the target it had set for the whole year. At the end of 2022, CaixaBank had 5.8 million salaries paid in by direct debit. At the beginning of the…


caixabank sunset

CaixaBank earns €2,137 million in June, up 35.8%, and announces €500-million buyback

The positive market dynamics, together with the strategies derived from the integration with Bankia and the reduction of doubtful balances, have boosted CaixaBank’s profit to €2,137 million, up 35.8% compared to the €1,573 million recorded in the same period of the previous year. In the entity’s accounts, the improvement in the indicators of profitability and efficiency stand out, while ROE reached 10.2% and the recurrent efficiency ratio fell to 45.7%,…


caixabank

Caixabank, a 1.5 billion share buyback?

Morgan Stanley analysts reiterate their OW (Overweight) on Caixabank and maintain the stock as a sector Top Pick, as they believe that the market is undervaluing the bank’s capital generation capacity by analysing DTAs (deferred tax assets). Additionally, they now assume in their base scenario a €1.5bn buyback that they expect to be announced in Q3, which together with a mark-to-market of the yield curve, justifies an upward revision of…


Caixabank sede madrid

Fitch Ratings maintains CaixaBank’s BBB+ rating and outlook at “stable”

Alphavalue / Divacons| The chairman of the Catalan bank, José Ignacio Goirigolzarri, believes that the balances of credit portfolios in Spain will remain stable or register slight increases over the next three years, as he said during his speech at the conference that Cinco Días is holding to celebrate its 45th anniversary. Meanwhile, the credit rating agency Fitch Ratings decided to maintain unchanged the BBB+ rating assigned to CaixaBank as…