Free Trial

Caixa 1Q24 Results Inline With Upgraded Guidance

FINANCIALS

Caixabank 1Q24 headlines (CABKSM, A3/A- pos/A-) look inline with a very small loan loss beat driving a 1-2% net profit beat. CET1 ratio marginally ahead and guidance has been upgraded (RoTE from >15% to >16%, NII from flat y/y to mid-single digit growth).


*CaixaBank 1Q-End CET1 Ratio 12.3% (cons: 12.2%)

*CAIXABANK 1Q NET INCOME EU1.01B, EST. EU988.3M

*CAIXABANK 1Q NET INTEREST INCOME EU2.78B, EST. EU2.73B

*Analysts Saw CaixaBank 1Q Gross Income at EUR3.47B (cons: 4.47bn)

*CAIXABANK RAISES 2024 ROTE TARGET TO >16%


More to follow...

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.