CaixaBank had a net attributable profit of 3,145 million euros last year, 29.7% more than the previous year based on homogeneous perimeters, it communicated this Friday to the National Stock Market Commission (CNMV). The Board of directors will propose to the Shareholders Meeting pay in April a dividend of 0.2306 euros per share charged to the results of 2022, which is 58% more than the previous year (0.1463) and represents a payout of 55%.
But the result fell by 39.8% if the extraordinary accounting impacts due to the merger with Bankia: the profit in 2021 was 5,226 million due to the positive contribution for accounting purposes of 4,300 million from the negative goodwill or badwill and other extraordinary results associated with the merger, the group reported this Friday in a statement.
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 the bank. Likewise, the bank has announced that it closed 2022, the year in which the integration with Bankia culminated, with a return on equity (ROTE) 9.8%, compared to 7.6% in 2021.
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 incomethat 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 5.8%.
As for the gross margin, increased by 12.8%, to 11,594 million, while recurring administration and amortization expenses fell by 1.5%. All this made the operating marginwithout taking extraordinary expenses into account, grew 28.3% last year, 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 accounted for using the equity method they 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.
Mortgages
Besides, CaixaBank has specified that in 2022 the granting of mortgages in Spain 108%, until adding 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.
delinquency
Despite the increase in credit, the non-performing loan ratio fell to 2.7% at the end of the year, 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, up to 74%, while the cost of risk stood at 0.25% in the last twelve months, compared to to 0.23% in 2021. In total, total assets fell by 12.9%, to 592,234 million, while customer funds fell 1.7%, to 609,133 million, penalized by the volatility of the markets.
Personal expenses
Regarding 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 y Portugal nor representative offices-, 913 less than in 2021. Of these offices, a total of 3,818 branches are for private clients. 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 accounts also include the 407 million paid by CaixaBank in the fourth quarter of 2022 to 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 CaixaBankJose Ignacio Goirigolzarri, has highlighted in a statement that 2022 was the year in which the entity “concluded 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.
