CaixaBank

CaixaBank nuevito

Criteria and ‘la Caixa’ Foundation return to Catalonia seven years after the ‘procés’

CriteriaCaixa – the business holding of the Caixa Group, with stakes valued at €30 billion in a wide range of companies (Naturgy, Telefónica, ACS…) – and the ‘la Caixa’ Foundation have returned their headquarters to Catalonia almost seven and a half years after relocating to Palma. CaixaBank will remain in Valencia, where it moved during the same period. The Banking Foundation Caixa d’Estalvis i Pensions de Barcelona has agreed to…


criteria

CriteriaCaixa to acquire up to 5% of Veolia

Veolia and CriteriaCaixa, the investment arm of the ‘la Caixa’ Foundation, have reached an agreement whereby CriteriaCaixa will enter the capital of Veolia Environnement and will have a representative on its Board of Directors, as part of a stable participation agreement in the shareholding and governing bodies of Veolia, as announced by the Catalan group on Tuesday. The entity will allocate around one billion euros to the operation. Veolia, a…


Caixabank

Caixabank’s profit rises to €1,539 million in 4Q24 due to lower provisions and extraordinary impact of sale of JV with Global Partners and Erste

Renta 4 | The results for Q4 2024 have shown a net interest margin slightly above expectations (+1% versus r4 estimated and consensus), and income from services -1% versus R4 estimated and +4% versus consensus. Gross margin was in line with R4 estimated and 2% higher than expected by the consensus. Net profit was 4% higher than R4e and 9% higher than the consensus, mainly due to lower provisions and…


CaixaBank nuevito

Caixabank issues €1 billion worth of perpetual convertible preference shares at 6.250% p.a. until 24 January 2033

Renta 4 | The entity has approved the issue of perpetual preference shares convertible into newly issued shares of CaixaBank (CoCos), excluding pre-emptive subscription rights, in the amount of €1,000 million. The issue will be carried out at par and the remuneration, the payment of which is discretionary and subject to certain conditions, has been set at 6.250% per annum until 24 January 2033. Thereafter, it will be reviewed every…


CaixaBank nuevito

Attractive profitability/RoTE of Caixabank at high level (16.9%), with efficiency ratio at historically low levels (39.2% in 9M24)

Bankinter: We maintain Caixabank in our 5 Stocks Model Portfolio because it enjoys a good momentum in profitability/RoTE with an attractive shareholder remuneration plan. The factors that explain our strategic preference for the Catalan bank are: (1) Profitability/RoTE remains at a high level (16.9%), with a low risk profile and an efficiency ratio (costs/revenues) at historically low levels (39.2% in 9M 2024). (2) Credit quality ratios are good and the…


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Caixabank prepares to launch real estate portal to take advantage of good momentum in Spanish residential sector

Link Securities | Caixabank (CABK) is preparing the launch of a real estate portal to take advantage of the peak of sales and purchases and record prices that the residential sector is experiencing in all Spanish provinces, according to Expansión newspaper. It will be a similar website to www.idealista.com for buying and renting property (new and used) but only real estate companies registered on the portal will be able to…


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José Ignacio Goirigolzarri submits resignation as CaixaBank chairman, Tomás Muniesa appointed non-executive chairman

The Board of Directors of CaixaBank has accepted the resignation of José Ignacio Goirigolzarri as chairman of the bank, effective from January 1, 2025. From that date, Tomás Muniesa will assume the role as non-executive chairman of CaixaBank. José Ignacio Goirigolzarri is also voluntarily disengaging from all responsibilities he held within the CaixaBank Group. Gonzalo Gortázar, CEO of the entity since June 2014, remains as the first executive of CaixaBank,…


Caixabank

Caixabank now has 24 mobile branches

Link | CAIXBANK (CABK) has extended the service it provides with its mobile branches in 1H24 to guarantee financial inclusion to a total of 804 towns and cities, which is 27% more than the number of locations served by the financial institution’s mobile branches in the first six months of last year. CABK thus provides financial coverage with its mobile branches in towns where 340,000 people live, who, whether or…


caixabank sunset

Caixabank executes 9.68% of share buyback in first two weeks

Alphavalue/DIVACONS | The Catalan bank has executed 9.68% of its share buyback in the two weeks since it started this programme on 31 July, with a total amount of €500 million as reported on Friday to the National Securities Market Commission (CNMV). Caixabank: Add, Target Price €5.62/share.


caixabank sunset

Caixabank: €500m buyback starts today

2Q24 First Look – 6% Beat and Raised RoTE Guide | Back to B/S Growth? Iñigo Vega (Jefferies) | 6% beat versus consensus at attributable profit level, driven by better top line, mainly fees, but NII also slightly ahead, supported by balance sheet growth in the quarter. Opex running in line and CoR trending better than the 30bp guidance. Upgraded FY24 NII guidance to HSD growth year-on-year (consensus at 6% year-on-year)…