Caixabank Sa · BME:CABK
Caixabank Sa — Q2 2025 Earnings Presentation
49 slides from Caixabank Sa's earnings presentation, Oct 30, 2025
Slide 1: 2Q25 Results
2Q25 Results 30 JULY 2025
Slide 2: Disclaimer
Disclaimer The purpose of this presentation is purely informative and should not be considered as a In particular, regarding the data provided by third parties, neither CaixaBank, nor any of its service or offer of any financial product, service or advice, nor should it be interpreted as, an adminis
Slide 3: Highlights
Highlights Fa 6 CaixaBan kc
Slide 4: Strong H1 performance supports improved guidance
Highlights Highlights Strong H1 performance supports improved guidance » High volume growth − powering revenues # of clients(1) Performing loans Deposits Wealth mgmt. AuMs(2) 360K yoy +5% yoy +7% yoy +8% yoy » NII (-0.4% qoq) stabilises – expect 2Q to be cycle low » Revenues from services (+5.4%
Slide 5: Iberian economies set to outperform despite uncertain global backdrop
HIGHLIGHTS Iberian economies set to outperform despite uncertain global backdrop SPAIN AND PORTUGAL ARE EXPECTED TO KEEP GROWING WELL ABOVE THE EUROZONE 2025e(1) Spain: growth 1.6 1.7 1Q25 vs. 4Q19 Real GDP(1), % 2024 expected to be driven by consumer 0.8 Eurozone 5.8% 0.7 spending and 0.4 0.4 0.3
Slide 6: Steady rollout of our strategy − focused on growth and transformation
HIGHLIGHTS Steady rollout of our strategy − focused on growth and transformation GROWING # OF CLIENTS AND BUSINESS VOLUME: TRANSFORMATION: LEVERAGING IT TO BOOST COMMERCIAL COMMERCIAL MOMENTUM CONSOLIDATES IN 2Q ACTIVITY AND CUSTOMER EXPERIENCE # Clients in Spain, million Business volume (1) , €Bn #
Slide 7: Fast-tracking business evolution with new and innovative solutions
HIGHLIGHTS Fast-tracking business evolution with new and innovative solutions Examples of recent initiatives ~42 K ~11.7 K Listed properties(1) Vehicles financed, 1H25(1,2) New RE portal launched in May New mobility platform(3) → 8.3K vehicles listed Selective offering, financing, and fully di
Slide 8: An engine of growth among the young and digital
HIGHLIGHTS An engine of growth among the young and digital MOBILE BANKING LEADER Strong growth in # of clients… Imagin clients, in millions A PILLAR FOR CLIENT ACQUISITION Mobile banking penetration among 16-34-year-olds in Spain (4), % 3.8 % of new client acquisition via imagin(2) ~50% 3.5 Adul
Slide 9: Rising demand fuels double-digit increase in loan origination
HIGHLIGHTS Rising demand fuels double-digit increase in loan origination New lending (Group ex BPI), €Bn NEW LENDING (1) +46% 93% at fixed rate(3) €Bn (Group ex BPI) 27% market share in 5.2 +35% yoy 4.5 new lending(4); strict New residential 3.9 underwriting criteria 2.8 +16% qoq +27% mortgages
Slide 10: Loan-book growth accelerates across all key segments
HIGHLIGHTS Loan-book growth accelerates across all key segments PERFORMING LOANS(1), o/w: 30 June 2025 RESIDENTIAL MORTGAGES CONSUMER LENDING BUSINESS LENDING +3.0% ytd +1.8% qoq +6.0% ytd +3.1% qoq +4.1% ytd +3.3% qoq €369 Bn Performing residential mortgages, % yoy(2) Performing consumer loan
Slide 11: Strong H1 drives customer funds above €700Bn
HIGHLIGHTS Strong H1 drives customer funds above €700Bn supported by both wealth management and deposits – complemented by seasonal uplift CUSTOMER FUNDS(1), o/w: 30 June 2025 DEPOSITS & OTHERS(2) WEALTH MANAGEMENT(3) MARKET SHARE IN DEPOSITS + WM 26.2% % in Spain(4) +5.8% ytd +4.8% qoq +2.9% ytd
Slide 12: Wealth management delivers another strong semester
HIGHLIGHTS Wealth management delivers another strong semester with net inflows holding firm amid market volatility SUSTAINED GROWTH IN NET INFLOWS NET INFLOWS BOUNCE BACK AFTER MARCH-APRIL MARKET CORRECTION Net inflows into wealth management(1) (ex market effects), €Bn Net inflows into wealth mgmt.
Slide 13: Protection insurance premia up double-digits
HIGHLIGHTS Protection insurance premia up double-digits underpinned by commercial dynamism and product innovation POSITIVE PRODUCTION DYNAMICS CONTINUOUS MARKET SHARE GAINS Protection insurance BOLSTERED BY MYBOX OFFERING AND INCREASED LOAN ORIGINATION Market shares in Spain in % and yoy in bps(3)
Slide 14: BPI: on a successful journey of growth and profitability
HIGHLIGHTS BPI: on a successful journey of growth and profitability −with ample untapped potential ahead in a growing market 2018: 1st year with full year consolidation of BPI into CaixaBank Group VOLUME GROWTH CONSISTE NTLY WIDE SPREAD MARKET SHARE GAINS EFFICIENCY IMPROVEMENT BE ATING THE MA
Slide 15: P&L and Balance Sheet
CONTENTS P&L and Balance Sheet 15
Slide 16: Net income up qoq
P&L AND BALANCE SHEET Net income up qoq −with steady growth in revenues from services, even lower CoR, and easing NII headwinds CONSOLIDATED INCOME STATEMENT REVENUES €M 2Q25 2Q24 % yoy % qoq NII pressures abating as diminishing funding costs, rising volumes, and positive Net interest income 2,636
Slide 17: NII stabilises earlier than anticipated − 2Q expected to mark this cycle low
P&L AND BALANCE SHEET NII stabilises earlier than anticipated − 2Q expected to mark this cycle low NII pressures abate NII evolution, €M -5.6% QoQ NII BRIDGE (1 ) − €M Growing support from: 2,781 2,791 2,794 2,741 2,646 (164) +97 2,636 +57 2,646 ALCO(4) 2,636 higher volumes Client yields Business
Slide 18: Deposit strength offers rising support for NII
P&L AND BALANCE SHEET Deposit strength offers rising support for NII Steady growth in deposit balances Acceleration of deposit cost reduction mainly reflecting growing non-interest-bearing balances as indexed deposits rapidly reflect rate resets Total deposits breakdown(1), average quarterly balance
Slide 19: Long-term rate outlook favours reinvestment strategy
P&L AND BALANCE SHEET Long-term rate outlook favours reinvestment strategy −while short-term rates remain broadly aligned with Strategic Plan’s assumptions AN EVOLVING RATE ENVIRONMENT: CURRENT YIELD STRUCTURAL DEPOSIT HEDGES UP YTD – STABLE QoQ CURVE AND SPREAD BACKDROP OFFER VALUE AND +€3.5Bn ne
Slide 20: Revenues from services up +5.4% yoy in 1H25
P&L AND BALANCE SHEET Revenues from services up +5.4% yoy in 1H25 −with evolution in 2Q affected by non-recurrent factors and market volatility REVENUES FROM SERVICES (1 ) €M +4.0% 5.4% adj.(2) +5.4% +6.1% adj.(2) Wealth mgmt. Strong growth in WM yoy on higher AuMs; qoq +12.0% yoy affected by ma
Slide 21: Costs evolve as guided while C/I ratio remains at very low levels
P&L AND BALANCE SHEET Costs evolve as guided while C/I ratio remains at very low levels COSTS EVOLVE IN LINE WITH GUIDANCE % C/I REMAINS AT LOW LEVELS… Operating costs, €M % C/I ttm(1) 44.6% 1,580 1,599 1,520 1,535 1,545 1,508 +5.2% yoy 41.6% 39.9% +1.2% qoq 38.9% 38.6% 37.8% 38.0% 37.7% 37.3% 1Q24
Slide 22: Step improvement in credit quality metrics
P&L AND BALANCE SHEET Step improvement in credit quality metrics: % NPL hits record low on broad-based gains, with strong coverage and declining CoR LOWER NPLs AND RECORD-LOW % NPL MAINTAINING HIGH COVERAGE, LOWER CoR WITH IMPROVED GUIDANCE ON SUPPORTIVE ORGANIC TRENDS AND ABOVE HISTORICAL AVERAGE,
Slide 23: Ample liquidity reserves
P&L AND BALANCE SHEET Ample liquidity reserves Well positioned to seize opportunity from the expected re-leveraging of core economies Comfortable 217% 150% 13.1% 85.1% €54 Bn liquidity metrics % LCR(1) % NSFR % ASSET % LTD COMMERCIAL GAP(2) ENCUMBRANCE 30 June 2025 (eop) LIQUIDITY SOURCES(3) LIQUIDI
Slide 24: Comfortable MREL position and buffers
P&L AND BALANCE SHEET Comfortable MREL position and buffers reflecting prudent management as well as continuous and successful market access MREL STRUCTURE VS. REQUIREMENTS Group MREL stack as of 30 June 2025 PF(1) vs. requirements(2), % of RWAs CONTINUED AND SUCCESSFUL MARKET ACCESS MREL stack / co
Slide 25: Robust capital generation supports strong business momentum
P&L AND BALANCE SHEET Robust capital generation supports strong business momentum High-quality growth and optimisation to keep driving sustainable shareholder value EARNINGS-DRIVEN CAPITAL GENERATION ABSORBS CREATING SHAREHOLDER VALUE SEASONALLY-HIGH RWA GROWTH WHILE SUSTAINING SHAREHOLDER RETURNS −
Slide 26: Improved guidance for revenues from services, CoR, and RoTE
F Y 2 5 e G U I D A N C E A N D C A P I TA L TA R G E T S Improved guidance for revenues from services, CoR, and RoTE Improved vs. previous guidance FY24 FY25e Down mid- 2025 % CET1 Management target NII €11,108 M +9.8% yoy single-digit 11.5% - 12.25% Revenues from services (1) €4,995 M Up mid- +4.6
Slide 27: Appendix
CONTENTS Appendix 27
Slide 28: Interest rate sensitivity management
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Interest rate sensitivity management: Targeting 12-24M NII sensitivity of ±5% to ±100 bps parallel shift in interest rates Key drivers to reduce sensitivity(1) % of interest-bearing INTEREST-BEARING PLUS DEPOSITS DEPOSITS WITH STRUCTURAL HE
Slide 29: Fair value of assets and liabilities measured at amortised cost
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Fair value of assets and liabilities(1) measured at amortised cost ASSETS(2) LIABILITIES(2) As of 30 June 2025, €Bn As of 30 June 2025, €Bn FV – Carrying Carrying Fair Carrying Fair Carrying amount – amount Value (FV) amount Value (FV) amou
Slide 30: Group customer loans and funds
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Group customer loans and funds LOAN BOOK CUSTOMER FUNDS Br e a kdown, € Bn Br e a kdown, € Bn 30 Jun 25 % ytd % qoq 30 Jun 25 % ytd % qoq I. Loans to individuals 185.1 +4.7% +3.7% I. On-balance-sheet funds 520.6 +5.0% +4.1% Residential mort
Slide 31: Loan portfolio – additional information
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Loan portfolio – additional information RESIDENTIAL MORTGAGE PORTFOLIO GOVERNMENT GUARANTEED LOANS (5) CABK ex BPI as of 30 June 2025: breakdown by date of origination, % of total Outstanding balance as of 30 June 2025, €Bn • 2Q25 new mortg
Slide 32: Gross lending and provisions by stages and breakdown of refinanced loans
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Gross lending and provisions by stages and breakdown of refinanced loans GROSS LENDING AND PROVISIONS BY STAGES REFINANCED LOANS Group as of 30 June 2025, €Bn Group as of 30 June 2025, €Bn Loan book exposure Total o/w NPLs Stage 1 Stage 2 S
Slide 33: Wholesale funding: back-book volumes, costs and maturities
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Wholesale funding: back-book volumes, costs and maturities WHOLESALE FUNDING COSTS AFFECTING NII WHOLESALE MATURITIES (2) Group ex BPI, as of 30 June 2025 Group ex BPI, as of 30 June 2025 Volumes− Wholesale funding back-book volumes(1), €Bn
Slide 34: Revenues breakdown: by nature and service provided vs. by accounting heading
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Revenues breakdown: by nature and service provided vs. by accounting heading ACCORDING TO ACCOUNTING HEADING ACCORDING TO NATURE AND SERVICE PROVIDED (CURRENT PRESENTATION) (1) €M 2Q25 1H25 €M 2Q25 1H25 Net interest income 2,636 5,282 (a) N
Slide 35: Revenues from services: breakdown
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Revenues from services: breakdown Wealth management revenues Protection insurance revenues Banking fees Breakdown by main category, €M and % Breakdown by main category, €M and % Breakdown by main category, €M and % 1H25 1H25 1H25 2Q25 % yoy
Slide 36: Additional information on wealth management and protection insurance
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Additional information on wealth management and protection insurance WEALTH MANAGEMENT Spanish wealth management market(1): AuMs in €Bn % of CaixaBank clients(2) with wealth management products(3), Wealth management products in % of total h
Slide 37: 1Q25 % CET1 bridge qoq presented under the current breakdown criteria
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N 1Q25 % CET1 bridge qoq presented under the current breakdown criteria % CET1 WATERFALL qoq, in % and bps +65 bps (15 bps) (40 bps) Organic RWAs (3 bps) 12.46% +20 bps 12.19% Dividend accrual Capital Markets & accretion(1) @60% & AT1 others
Slide 38: Additional information on imagin
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Additional information on imagin A NEOBANK, WITH A COMPLETE PRODUCT OFFERING − SUPPORTED BY THE LARGEST PHYSICAL FOOTPRINT IN SPAIN imagin is a digital lifestyle and financial services platform launched by CaixaBank in 2016. It was initiall
Slide 39: Sustainability: 1H25 highlights
A 1 . 2 Q 2 5 S U P P L E M E N TA R Y I N F O R M AT I O N Sustainability: 1H25 highlights 2025-2027 SUSTAINABILITY PLAN: PRIORITIES AND KEY TARGETS Evolution ytd of main KPIs(1) vs. target, 30 June 2025 ytd Target OTHER 1H25 HIGHLIGHTS 1. ADVANCING TOWARDS A MORE SUSTAINABLE ECONOMY(1) • World’s B
Slide 40: Group P&L − €M
A 2 . P & L : G R O U P, B Y P E R I M E T E R A N D B Y S E G M E N T Group P&L − €M 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 1H25 1H24 Net interest income 2,636 2,646 2,741 2,794 2,791 2,781 5,282 5,572 Revenues from services , o/w: (1) 1,303 1,278 1,321 1,225 1,252 1,197 2,581 2,449 Wealth management 483 49
Slide 41: Income statement by perimeter − €M
A 2 . P & L : G R O U P, B Y P E R I M E T E R A N D B Y S E G M E N T Income statement by perimeter − €M 1H25 % yoy 1H25 CABK % yoy 1H25 BPI % yoy Net interest income 5,282 -5.2% 4,843 -4.7% 439 -10.3% (1) Revenues from services , o/w: 2,581 5.4% 2,431 6.6% 150 -10.7% Wealth management 973 14.3% 94
Slide 42: Income statement by segment − €M
A 2 . P & L : G R O U P, B Y P E R I M E T E R A N D B Y S E G M E N T Income statement by segment − €M Bancassurance BPI Corporate center 1H25 % yoy 1H25 % yoy 1H25 % yoy SEGMENT REPORTING FROM 1Q22 Net interest income 4,786 -5.4% 430 -11.5% 66 (3) Revenues from services , o/w: 2,431 6.6% 150 -10.7
Slide 43: Credit ratings
A 3 . R AT I N G S Credit ratings Issuer Rating Debt instruments Long term Short term Outlook SP SNP Tier 2 Covered bonds A3 P-2 stable A3 Baa2 Baa3 Aa1(1) 30 June 2025 A A-1 stable A BBB+ BBB AA+ 27 March 2025 Stable(2) 17 June 2025 A- F2 stable A A- BBB - A (high) R-1 (middle) stable A (high) A A
Slide 44: CaixaBank Group key figures
A4. CAIXABANK GROUP KEY FIGURES CaixaBank Group key figures 2Q25 Clients (Total, in Million) 21 Total assets (€ Bn) 660 LEADING Customer funds (€ Bn) 718 BANC ASSURANC E Customer loans and advances (gross, € Bn) 378 FRANCH I SE I N Market share in loans to individuals and non-financial businesses(1)
Slide 45: Glossary (I/IV)
A5. GLOSSARY Glossary (I/IV) In addition to the financial information prepared in accordance with International Financial Reporting Standards (IFRS), this document includes certain Alternative Performance Measures (APMs) as defined in the guidelines on Alternative Performance Measures issued by the
Slide 46: Glossary (II/IV)
A5. GLOSSARY Glossary (II/IV) Term Definition Term Definition E12M Euribor 12 months. It includes the accrual of the margin on savings insurance contracts, as well as on Unit ECB European Central Bank. Insurance service Linked products, and the recognition of income and expenses from claims correspo
Slide 47: Glossary (III/IV)
A5. GLOSSARY Glossary (III/IV) Definition Term Definition Net fee and commission income. (+) Fee and commission income; (-) fee and ORI Other Relevant Information. Net fees and commissions commission expenses. O-SII buffer Other systemically important institution. New lending New mortgages, consumer
Slide 48: Glossary (IV/IV)
A5. GLOSSARY Glossary (IV/IV) Term Definition Term Definition SNP Senior non preferred debt. TGSS Tesorería general de la seguridad social. Spain. SP Senior preferred debt. TLCF Tax loss carry-forward. SREP Supervisory Review and Evaluation Process. Total operating Include the following items: admin
Slide 49: investors@caixabank.com
CaixaBank investors@caixabank.com