Valencia (EFE).- CaixaBank earned 3,145 million euros in 2022, which is 39.8% less than in 2021, due to the accounting effects of the merger with Bankia.
In a communication to the CNMV, the Spanish stock market supervisor, the bank has specified that without taking these extraordinary impacts into account, the profit would have been 29.7% higher than in 2021, due to the commercial drive of the entity and the synergies of the fusion.
In 2021, the entity earned 5,226 million euros due to the positive contribution for accounting purposes of 4,300 million from the negative goodwill and other atypical results derived from the merger with Bankia.
Likewise, the bank has announced that it closed 2022, the year in which the integration with Bankia ended, with a return on equity (ROTE) of 9.8%, compared to 7.6% in 2021.
Net interest income increases by 15.7%
The interest margin reached 6,916 million euros in 2022, 15.7% more than in 2021 -7.7% without counting the effects of the merger-, while net commissions rose to 4,009 million, 8 ,2 more.
The bank’s core income, that is, the recurring ones, derived from its main activity, stood at 11,997 million last year, 13.2% more, although the entity qualifies that, on a homogeneous perimeter, they rose by 5.8 %.
Regarding the gross margin, it increased by 12.8%, to 11,594 million, while recurring administration and amortization expenses fell by 1.5%.
All this made the operating margin, without taking extraordinary expenses into account, to grow by 28.3% last year, up to 5,574 million.
Regarding dividend income, CaixaBank received 163 million euros in 2022, 15% less than in 2021, an amount that includes the 69 million received for its participation in Telefónica and the 87 million from BFA.
The attributable results of entities valued by the equity method totaled 264 million, 39.5% less, affected by changes in the perimeter after the sale of the Austrian Erste Group Bank and the global consolidation of Bankia Vida.
Caixabank doubles the granting of mortgages in Spain
On the other hand, CaixaBank has specified that in 2022 the granting of mortgages in Spain increased by 108%, to a total of 14,299 million, which implies more than doubling the volume of mortgages.
Of the mortgage credit granted, more than 90% of the contracts for the acquisition of housing were formalized at a fixed rate.
In 2022, the entity achieved credit growth for both private customers and companies, so that the healthy credit portfolio increased by 3.3%, to 351,225 million euros.
Regarding consumer credit, new financing reached 10,235 million in 2022, 16% more than in 2021, while financing for companies grew by 23%, to 41,560 million.
NPLs at record low
Despite the increase in credit, the non-performing loan ratio fell at the end of the year to 2.7%, a record low in the entity, compared to 3.6% in 2021, while doubtful balances were cut by 2,943 million.
Likewise, the funds for insolvencies stood at 7,867 million at the end of 2022 and the coverage ratio grew eleven points, to 74%, while the cost of risk stood at 0.25% in the last twelve months, compared to to 0.23% of 2021.
In total, total assets fell 12.9%, to 592,234 million, while customer resources fell 1.7%, to 609,133 million, penalized by market volatility.
Drop in personnel costs
In terms of employees, CaixaBank ended the year with 44,625 employees, which is 5,137 fewer than in 2021, while the bank has 4,404 branches -not counting those outside Spain and Portugal or representative offices-, 913 fewer than in 2021.
Of these offices, a total of 3,818 branches are for private customers.
Last year the bank completed the process of voluntary employee departures, an agreement agreed with the unions that led to a drop of 8.1% in personnel expenses in 2022.
The bank’s accounts also include the 407 million paid by CaixaBank in the fourth quarter of 2022 to the Deposit Guarantee Fund or the contribution of 159 million to the Single Resolution Fund in the second quarter of the year.
In terms of capital, CaixaBank closed 2022 with a Common Equity Tier 1 ratio of 12.8%, after the extraordinary impact of the share buyback program for an amount of 1,800 million carried out in 2022.
The president of CaixaBank, José Ignacio Goirigolzarri, highlighted in a statement that 2022 was the year in which the entity “completed with great success the integration process of the largest merger in the financial sector” in Spain.
For his part, the bank’s CEO, Gonzalo Gortázar, has assured that last year was “very positive” for the bank in terms of commercial dynamism, credit quality and financial strength.
