Madrid (EFE).- The six large Spanish banks jointly earned some 12,117 million in the first half of the year, according to analyst estimates, almost 18% more, once the disgust of the “tax” was overcome and thanks to the increase in income due to the rise in interest rates.
The forecasts for these entities -Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja- come from the consensus of analysts updated by Bloomberg.
The increase in income, thanks to the rise in the price of money in the euro area, has also helped banks to continue fattening their reserve piggybanks, this time following the advice given by the Bank of Spain after the global turbulence registered by the sector in March, which caused the collapse of four medium-sized banks in the US and Credit Suisse in Switzerland.
However, Spanish entities do not attend, for the moment, to the second derivative of the rate rise, which is to pay savers interest in exchange for keeping their deposits, except for specific offers that at the moment remain below the price of money, which is 4% in the euro zone.
The quarterly accounts, not the semi-annual ones, will also benefit from the disappearance of the pinch of more than 1,100 million that the banks had to subtract together from their profits in the first quarter to pay the “tax” to the bank, a tax of 4.8% applied to income.
Bankinter was in charge, once again, of beginning the presentations of the results of the great Spanish banking, last Thursday, with a profit of 418 million euros, 54% more than last year, when the profits were lower due to the absence of the contribution of the insurer Línea Directa, which left the group and later debuted on the Stock Market.
The CEO of Bankinter, María Dolores Dancausa, has been the only banker who has had the opportunity to speak about tomorrow’s elections, Sunday, and has expressed her desire that the new government “get it right” in its policies, reduce tax pressure and promote business initiative to create jobs and for Spain to achieve “prosperity and stability”.
Next Wednesday, July 26, it is the turn of Banco Santander to take a picture, whose net profit will exceed, according to analysts, 5,000 million euros, above the 4,894 million achieved between January and June 2022.
On July 27, Banco Sabadell will present its accounts, which will collect a net profit of around 483 million euros, also above the 393 million of the previous year.
On the same day, Unicaja will announce earnings that will be around 170 million euros and that will also be somewhat higher than the 165 million achieved a year earlier.
On July 28 it will be the turn of BBVA, which will close the presentations with earnings of around 3,900 million euros, compared to the 3,000 million obtained between January and June 2022.