CaixaBank gained + 31% in 2015 and strengthens its leadership in Spain – Diario La Nube (Press Release)

CaixaBank, entity chaired by Isidro Fainé and whose CEO is Gonzalo Gortázar, won in 2015 attributable profit of 814 million euros, representing an increase of 31.4% over 2014.

The result is based on the strength banking business (7.726 million gross margin, + 11.3%) in the containment and rationalization of recurrent costs (-1.2% with like basis) and lower provisions for loan losses (1,593 million, -23, 6%).

The intense commercial activity has been strengthened by the addition in 2015 of Barclays Bank, SAU, which has fueled the growth of net interest income (+ 4.8%), revenues commissions (+ 10.3%), customer loans (+ 4.7%) and customer funds (+9.1%).

It continues the good performance indicators asset quality, with a further decline in the NPL ratio in the quarter, reaching 7.9%.

On December 31, 2015, the result of the banking and insurance amounts to 1,606 million euros. It includes the impact of unique aspects associated with the acquisition and integration of Barclays Bank, SAU and the Labor Agreement reached in the second quarter. Excluding these impacts, the profitability of the year (ROTE) reached 10.1%.

The caption other operating income and expense items collected in the fourth quarter, spending by the contribution to the Guarantee Fund Deposits and contribution to the Fund of National Resolution for a total amount of 278 million.

The management efficiency has been a strategic element in 2015 and will continue in the coming years. In 2016 it is expected to capture 189 million euros of synergies from Barclays Bank, SAU (115 million in 2015) and savings arising from labor agreement.

CaixaBank’s leadership in the Spanish market

The commercial strength of the CaixaBank Group and the acquisition of Barclays Bank, SAU have maintained sustained growth in the market shares of major financial products and services. In addition, CaixaBank has been elected “Best Bank in Spain” by Euromoney 2015 and has been recognized best bank in the world in mobile banking services by Forrester Research.

CaixaBank maintains its leadership in banking in Spain with a share individual penetration of 28.3% and in online banking, with 4.8 million customers, and mobile banking, with 2.8 million.