- CaixaBank projects its return on tangible equity (ROTE) to be above 16% for the fiscal year, having previously estimated around 16%.
- The cost of risk is expected to be 0.25%, down from a previous estimate of up to 0.3%.
- First half net income reaches €2.95 billion.
- Second quarter net income was €1.48 billion, down 11% year-over-year, but above the estimated €1.38 billion.
- Net interest income for the second quarter was €2.64 billion, a 5.6% decrease year-over-year, aligning with estimates.
- CaixaBank’s BPI unit reported net interest income of €214 million, a 12% year-over-year decline, exceeding the estimate of €211.2 million.
- Gross income for the second quarter was €4.03 billion, a 4.2% decrease year-over-year, but surpassed the estimate of €3.98 billion.
- The BPI unit’s gross income stood at €320 million, down 9.3% year-over-year, which was higher than the anticipated €310.3 million.
- Pretax profit for the second quarter was €2.17 billion, a 6.6% decrease year-over-year, yet above the estimate of €2.07 billion.
- Trading profit in the second quarter was €67 million, a 12% year-over-year decline, but exceeded the estimate of €60.9 million.
- Non-interest expenses increased by 5.2% year-over-year to €1.60 billion, slightly above the estimate of €1.59 billion.
- The Common Equity Tier 1 ratio held steady at 12.5%, matching the previous quarter and surpassing the estimate of 12.4%.
- The bad loans ratio decreased to 2.3% from 2.5% quarter-over-quarter, better than the estimate of 2.51%.
- Non-performing loan (NPL) coverage ratio stayed constant at 70%, slightly above the estimate of 69.7%.
- The leverage ratio decreased to 5.6% from 5.7% quarter-over-quarter, which was higher than the estimated 5.34%.
- Allowances for insolvency risk decreased by 18% year-over-year to €178.0 million, significantly below the estimated €254 million.
- Risk-weighted assets grew by 2.7% quarter-over-quarter to €241.80 billion, exceeding the estimate of €238.04 billion.
- Analyst ratings include 12 buys, 10 holds, and 6 sells.
A look at CaixaBank SA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
CaixaBank SA, a prominent financial institution, seems to be positioned favorably for the long term based on a comprehensive analysis using the Smartkarma Smart Scores system. With a top score in both Dividend and Growth categories, CaixaBank is perceived as a company that rewards its investors while also showcasing potential for expansion and increasing market influence. Additionally, solid scores in Resilience and Momentum suggest that the company is resilient to economic uncertainties and shows promising signs of continuous development and progress. With a solid overall outlook according to the Smartkarma Smart Scores, CaixaBank SA appears to be a strong player in the banking sector.
CaixaBank SA, primarily known for its banking and financial services, has received notable Smartkarma Smart Scores indicating a positive long-term trajectory. The bank offers a wide range of financial products and services, including portfolio management, insurance, and international banking services. With strong scores across various key factors such as Value, Dividend, and Growth, CaixaBank is perceived as a stable and lucrative option for investors looking for consistent returns and potential growth opportunities. These scores reflect CaixaBank’s commitment to providing reliable banking services and its ability to adapt and thrive in the ever-evolving financial landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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