Caixabank's Q1 net profit rises 7%, unveils 500 million eur buyback
Caixabank Q1 2025 Financial Results and Share Buyback Announcement
Net Profit Growth and Key Drivers
MADRID, April 30 (Reuters) - Spain's Caixabank said on Thursday its net profit rose 7% in the first quarter from the same period in 2025 as an increase in its insurance business and fees offset a negative impact from a banking tax. The country's biggest lender by domestic assets reported a net profit of 1.57 billion euros ($1.83 billion) in the January to March period. Analysts polled by Reuters expected a net profit of 1.46 billion euros.
Share Buyback Programme
Caixabank unveiled a new share buyback programme worth 500 million euros. Spanish banks have benefited from higher costs of loans, although this tailwind had reversed as interest rates had been falling. However, recent geopolitical tensions due to the U.S.-Israeli war on Iran are triggering a rise in inflation and markets are betting on higher rates by year's end. The bank's net interest income (NII), a measure of earnings on loans minus deposit costs, in the first quarter rose 0.6% from a year ago to 2.66 billion euros. Analysts expected NII to come in at 2.69 billion euros. ($1 = 0.8573 euros)
Market Environment and Interest Rate Impact
Geopolitical Tensions and Inflation
Net Interest Income Performance
(Reporting by Jesús Aguado;Editing by Joan Faus)
