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CaixaBank Earns 4.81 Billion, and Will Distribute a Dividend of 2.9 Billion

In 2023, CaixaBank’s profit surged 54% to 4.81 billion euros, driven by a 54.3% growth in the interest margin, reaching 10.11 billion euros. Despite a 5.1% drop in commissions, total income rose by 31.6% to 15.14 billion euros. CaixaBank plans to distribute a 2.9-billion-euro dividend. Recurring banking fees decreased by 9.4% due to adjustments in deposit custody fees and loyalty program bonuses.




CaixaBank earned 4.81 billion euros in 2023 , which represents an increase in its profit of 54% compared to the previous year. The entity announced this Friday that, in line with these figures, it will distribute a dividend of 2.9 billion euros, half of which will revert to the company, according to the entity, due to the participation held by the “la Caixa” Foundation and the FROB.

The rise in interest rates during 2023 has benefited banking activity and, also, CaixaBank, which has seen its interest margin grow by 54.3%, to 10.11 billion euros. This has boosted the bank’s income by 31.6% to 15.14 billion euros and has compensated, according to the entity, the drop in commissions of 5.1%.

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CaixaBank registered an increase of 28.3%

“Specifically, recurring banking fees are reduced by 9.4% year-on-year due to the elimination of deposit custody fees from large companies and the bonuses applied to
customer loyalty programs,” the bank pointed out.

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In terms of gross margin, CaixaBank achieved an increase of 28.3% to 14.23 billion. For their part, personnel and general expenses grew during the year, by 4.7% and 6.1%, respectively. All in all, the return on equity (ROE) stands at 13.2% and the efficiency ratio is reduced by nine points to 40.9%.

The CEO of the entity, Gonzalo Gortázar , has pointed out that “in a very demanding environment, we have completed a very positive year in terms of commercial dynamism: we have granted 280,000 financing operations to companies and 80,000 new mortgages to families and we continue to increase our linked customer base, which now reaches 71.5%.”

The president of CaixaBank, José Ignacio Goirigolzarri , highlighted that “in 2023, CaixaBank has been very close to its clients, companies and individuals, financing their projects and managing their savings. All this, also, through a business model that is committed to financial inclusion and supports the most vulnerable groups.”


(Featured image by Daniel Miranda via Unsplash)

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First published in EL INDEPENDIENTE. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Andrew Ross is a features writer whose stories are centered on emerging economies and fast-growing companies. His articles often look at trade policies and practices, geopolitics, mining and commodities, as well as the exciting world of technology. He also covers industries that have piqued the interest of the stock market, such as cryptocurrency and cannabis. He is a certified gadget enthusiast.