CaixaBank chose well: BPI contributed with a 77 million euros’ profit

  • ECO News
  • 28 July 2017

The Spanish CaixaBank, which now owns Protuguese BPI, made a 839 million euros' profit in the first semester - an over 30% growth. BPI made a 77 million euros' contribution to the results.

The Spanish CaixaBank, which now owns Protuguese BPI, made a 839 million euros’ profit in the first semester of 2017, equivalent to a 31.6% homologous growth. That profit includes the 77 million euros’ contribution from BPI.

The Spanish bank’s gross profit achieved 4,280 million euros, a 5.7% increase in comparison to the first semester of the previous year. This reflects the incorporation of BPI and the increase in banking revenue, which allows for a compensation in smaller results due to financial assets and liabilities.

After incorporating the Portuguese bank, clients’ gross credit reached the 228,435 million euros, 11.5% more than in 2017. The CaixaBank group now has a Common Equity Tier 1 (CET1) fully loaded ratio of 11.5%, in line to what they had foreseen in their strategic plan: 11%-12% and 2.8 percentage points over the supervisor requirements (8.75%).

In February of 2017, CaixaBank got 84.5% of BPI after it launched a take-over bid on the acquisition of the Portuguese bank in 2016.

PUB