CaixaBank and CEOE agree credit line of up to €40 billion (14% up on 2023) to support Spanish companies

Link Securities | The chairman of Caixabank, José Ignacio Goirigolzarri, and the president of the Spanish Confederation of Business Organisations (CEOE), Antonio Garamendi, have renewed their agreement on Thursday to support the growth and modernisation of Spanish companies, as reported by the digital portal Specifically, they have established a line of financing of up to €40 billion (14% more than last year) to provide an ‘effective response to the…


Caixabank reports attributable profit of €1,005 million (+17,5%) for 1Q24

Jefferies | Caixabank | BUY | CABK SM | €5.12 | PT: €5.80 | % to PT: +13% | CaixaBank 1Q24 – In-line Prin and Guidance | 1Q24 in line at net income level. The 3% beat on NII is perhaps the major highlight (offset by small miss on others/LLCs), but very much confirming the dynamics already observed elsewhere hitherto. Upgraded FY24 NII guidance to MSD growth year-on-year (consensus already…


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…


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…


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…


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…

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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.

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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%,…