CaixaBank reported net income of €1,470 million for the first quarter of 2025, a 46.2% increase year-on-year. The bank noted in a statement on its website that the headline growth rate was partly amplified by the timing of the banking levy relative to the prior year, and that adjusting for that effect, underlying growth was 6.9%.
Return on tangible equity reached 19.4%. The cost-to-income ratio improved to 37.7%. Fee income grew 6.7% year-on-year, partially offsetting a 4.9% decline in net interest income to €2,646 million.
ASSET QUALITY
The non-performing loan ratio fell to 2.5%, a historic low for the group.
Gross income climbed 14.7% year-on-year to €4,011 million, flattered by the new accounting treatment of the Spanish banking tax, which is now booked under income tax rather than in other operating income and expenses, while revenues from services rose 6.8%.
LENDING
The performing loan portfolio expanded 2.9% year-on-year, with volume growth spread across the mortgage, consumer, and business credit segments.
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