CaixaBank ( (CAIXY) ) has released its Q3 earnings. Here is a breakdown of the information CaixaBank presented to its investors.
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CaixaBank is a leading financial institution in Spain and Portugal, offering a wide range of banking services and products through an extensive network of branches and a robust omnichannel platform. In its latest earnings report for the first nine months of 2024, CaixaBank reported an attributable profit of €4,248 million, marking a 16.1% increase compared to the same period last year. The bank’s net interest income rose by 13.6%, driven by an improved market rate environment and favorable loan-deposit dynamics. Additionally, customer funds grew by 6.9% to €673,832 million, while loans and advances to customers showed a marginal increase of 0.1%, reaching €354,507 million. CaixaBank’s robust risk management is reflected in a stable non-performing loans ratio of 2.7% and a strong coverage ratio of 71%. The bank also maintains a solid liquidity position with a Liquidity Coverage Ratio of 213% and a Net Stable Funding Ratio of 148%. Looking ahead, CaixaBank’s management remains committed to strategic initiatives, including share buy-back programs, which aim to optimize capital adequacy and shareholder value.