The 3,659 million euros of profits it has had CaixaBank in the first nine months of 202348.2% more than in the same period of 2022, They have not been “extraordinary benefits” but have reflected a situation of “moderate” improvement because the profitability on equity has not yet reached the levels prior to the great crisis of 2008, as stated this Friday by the CEO of the entity with headquarters in Valencia, Gonzalo Gortázar. Even so, regarding the future, he has indicated that the year-on-year growth of this 2023 “will not be repeated”.
This was stated by Gortázar at a press conference to present results after the third quarter, a meeting in which he called not to “shoot himself in the foot” by maintaining – as PSOE and Sumar have agreed for a future Government- a banking tax whose amount amounted to 373 million euros for the entity. In this sense, he has pointed out that the sector is the “circulatory system” by providing the financing that society and its actors require, so if it is “punished” with a new tax “is punishing the entire economy”.
Discriminatory treatment
He has also warned that this “discriminatory treatment” in the form of a tax with respect to other sectors and other European banks is also penalizing “regulated banking on vulture funds“. “We are encouraging people to move from regulated banking to hidden banking,” he said.
On the other hand, regarding the mortgage situation and the rise of guysGortazar has highlighted that the impact on the entity’s variable mortgages – which represent 66% of the total – has been “minor” with an average increase that In the case of CaixaBank clients “it has not been 300 euros per month but 90” and that the amount pending amortization remains at 65,000 euros on average. Similarly, regarding the remuneration of deposits that the entity is beginning to make, it has highlighted that they are “satisfied” but has called for betting on looking at other Longer-term investment products with higher profitability.
Likewise, with respect to the doubts about future investments in Spain raised by RepsolGortázar has been dissatisfied with this type of movements, emphasizing that “Large companies must assume responsibilities beyond the purely financial“.