Unicaja Banco S.a. · BME:UNI
Unicaja Banco — Q1 2026 Earnings Presentation
39 slides from Unicaja Banco's earnings presentation, May 5, 2026
Slide 1: Earnings presentation 1Q26
Earnings presentation 1Q26 May 5th 2026
Slide 2: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 2
Slide 3: Key highlights of the quarter
Key highlights of the quarter Business activity Profitability Asset quality Value generation Net income keeps Very attractive dividend Business volume growth NPLs down 20% YoY with improving, +1.4% in the yield in 2025 with an keeps increasing at over coverage increasing 10 year supported by gross i
Slide 4: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 4
Slide 5: Customer funds
Customer funds Customer funds increased by 3.9% year-on-year, supported by mutual funds +17% and private sector deposits +2.4% Total customer funds On balance customer funds Breakdown Million Euros 1Q25 4Q25 1Q26 QoQ YoY Customer funds on balance (excl. Repos) 68,987 71,091 70,092 -1.4% 1.6% 8% Publ
Slide 6: Wealth Management & Insurance
Wealth Management & Insurance Wealth management and insurance revenues +4% YoY representing 19% of gross margin Assets under management and insurance Assets under management (€bn) revenues(1)(€m) 25.9 +11% 23.4 YoY +4% 21.4 9.0 95 99 YoY Other 9.0 9.6 Mutual 16.9 Funds 11.8 14.4 +17% YoY 1Q24 1Q25 1
Slide 7: Lending
Lending Positive trends of previous quarters are confirmed with +0.8% growth in the quarter and +2.4% year on year growing in all main segments Performing loan book Performing loan book € million Breakdown Million Euros 1Q25 4Q25 1Q26 QoQ YoY 7% 10% Public sector 4,590 4,807 4,702 -2.2% 2.5% Private
Slide 8: New lending
New lending Private sector new lending +10% YoY, translating into loan growth in all the books in the quarter Total private sector lending (€m) Business & SE lending(€m) +10% -2% 2,721 2,475 YoY 1,562 2,250 1,356 1,327 YoY 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Mortgages (€m) Consumer lending and others (€m)
Slide 9: Digital sales and customer acquisition
Digital sales and customer acquisition Weight of digital sales Total digital sales (1Q26) 65% Consumer 49% ~€160m +82% loans vs 1Q25 1Q25 1Q26 Mutual 25% 36% ~€230m +47% funds vs 1Q25 1Q25 1Q26 Customers Acquired salary accounts Customer >1 Million >12k acquisition +6% vs 1Q25 x2 vs 1Q25 9
Slide 10: ESG
ESG A complete sustainable strategy, advancing in the portfolio decarbonization Avoided CO2 emissions (Thousand Tm, in the year) 34.8 54.8 81,0 142.6 €2,100m 76% Green Bonds issued Senior Green Funding share 2022 2023 2024 2025 Eligible portfolio +76% 78% Private lending under (million €) Eligible p
Slide 11: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 11
Slide 12: Income statement
Income statement Net profit +1.4% versus last year driven by +1.0% gross margin and 19% lower provisions that more than compensate costs increase Million euros 1Q25 4Q25 1Q26 QoQ (%) YoY (%) Net Interest Income 369 378 373 -1.2% 1.3% Main variations Dividends 1 6 1 -81.4% 85.9% Associates 22 14 19 3
Slide 13: Net interest income
Net interest income Stabilized customer spread with loan yield increasing and deposit cost slightly increasing on the back of customer acquisition campaigns Average quarterly yields and costs(1) (%) Quarterly evolution 3.13% 2.91% 2.77% 2.71% 2.73% NIM (2) -4 bps 2.49% 2.40% 2.32% 2.28% 2.28% 1.73%
Slide 14: Net interest income evolution
Net interest income evolution NII bottoms in the quarter on a lower day count where customer spread has remained stable and liquidity management and wholesale funding had a positive effect in the quarter Quarterly evolution of net interest income (€m) Deposits: Higher cost mainly explained by custom
Slide 15: Fee income
Fee income Fees keep evolving towards higher value-added services, increasing its weight by 4 percentage points versus last year to 52% Net fees(€m) Fee income breakdown (%) Million Euros 1Q25 4Q25 1Q26 QoQ (%) YoY (%) Payments and accounts 63 62 60 -2.1% -4.7% 9% 7% 7% Non-Banking fees 68 71 75 5.4
Slide 16: Other income
Other income Other income has remained broadly stable over the last few quarters Other income breakdown (€m) QoQ YoY Million Euros 1Q25 4Q25 1Q26 (%) (%) Dividends 1 6 1 (81.4%) 85.9% Associates 22 14 19 32.2% (12.9%) Trading income 4 3 1 (53.8%) (67.3%) Other revenues/(expenses) (12) (14) (11) (23.
Slide 17: Operating expenses
Operating expenses Cost to income ratio slightly increases on the back of frontloaded investments and hiring under the strategic plan roadmap Operating expenses (€m) Cost to income 1Q26 (L12M)(1) (%) 235 245 +5% 22 23 YoY 46% 44% 71 77 142 145 1Q25 1Q26 1Q25 1Q26 Personnel expenses Administrative ex
Slide 18: Cost of risk and other provisions
Cost of risk and other provisions Cost of risk of 20 bps, within guidance, and total provisions 19% down YoY Loan loss provisions and credit cost of risk(1) (€m) Total provisions evolution (€m) -19% 32 32 32 YoY 28 25 53 53 3 43 32 31 25 19 22 20 (0) (2) 1Q24 1Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Other
Slide 19: Profitability
Profitability Continuous improvement in profitability keeps generating significant value for shareholders Return on tangible equity (ROTE)(1,2)(%) TBV(4) + div. per share(5) 12% 12% 6% ROTE adjusted 2.62 10% 10% ROTE 5% +9% 0.14 2.40 1Q24 1Q25 1Q26 Net profit and ROCET @12.5%(3)(€m) 2.48 190 2.40 17
Slide 20: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 20
Slide 21: Non-performing loans
Non-performing loans Non-performing loans decrease by 20% and NPAs by 26% in the last 12 months, NPAs coverage improves to 79% Gross non-performing assets (NPAs) (%) Non-performing loans(€m) 73% 77% 79% Coverage (%) 1,230 -20% YoY 1,092 1,079 1,033 2,073 981 -26% YoY 1,641 1,544 1,230 NPLs 1,033 981
Slide 22: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 22
Slide 23: Solvency (I/II)
Solvency (I/II) Stable capital in the quarter allocating more than 100% of the organic generation to shareholder remuneration and lending growth CET1 quarterly evolution (%) Positive effects 0.53% 0.15% • Organic generation by net profit 0.51% 0.15% 0.08% • EDP mark to market (net of RWAs) • Lower d
Slide 24: Solvency (II/II)
Solvency (II/II) Comfortable capital position with ample buffers on regulatory requirements Capital Levels and Regulatory Requirements Capital Structure – MREL(1) SREP Requirement 13.0% (Total) (2) 26.8% MREL 24.8% 2.7% Requirement(3) 4.3% CET 1 buffer(4) €2,208M 2.0% SP MDA(5) buffer 682bps 1.8% SN
Slide 25: Fixed income portfolio
Fixed income portfolio Slightly up in the quarter in terms of size with slightly higher yield with a conservative profile Fixed Income portfolio evolution (€bn) Fixed Income portfolio breakdown(%) 30 29 30 83% Amortized cost 8% 11% 1Q25 4Q25 1Q26 81% 2.6% 2.6% 2.7% Yield evolution (1) Public debt Sa
Slide 26: Index
Index 1 Key Highlights 2 1Q26 Results: • Business activity • Financial results • Asset quality • Solvency & liquidity 3 2026 guidance 4 Appendix 26
Slide 27: Guidance 2026 reiterated
Guidance 2026 reiterated 2026 guidance Net interest income >2025 Fees +LSD Costs +MSD Cost of risk <30bps Business volume(1) ~3% Net profit(2) >2025 (1) Includes performing credit, customer deposits and off-balance sheet funds. (2) Net income forecasts and estimates are based on current information,
Slide 28: Appendix
Appendix 28
Slide 29: Liquidity
Liquidity Leadership in liquidity position Liquid assets (€m) Main liquidity ratios Loan to 13,513 69% 43,505 deposit 29,992 NSFR 159% LCR 292% Net Liquid Assets Additional capacity to issue Total liquidity 29
Slide 30: Wholesale Funding
Wholesale Funding Wholesale Funding: Breakdown and maturity (1) Maturities breakdown(1,2) 5.7% 4.0% 4.0% 11,000 7.0% Instrument 2026 2027 2028 >2028 Total 9,000 2.9% 5.0% AT1 500 - - - 500 3.0% 7,000 3,630 1.0% Tier 2 - 300 - 300 600 5,000 -1.0% 3,000 1,000 1,710 Senior non-preferred 500 300 - 500 1
Slide 31: Ratings
Ratings Long-term rating evolution Current rating per instrument Moody’s Fitch Fitch A2 A A A3 A- ◼ ◼ A- Baa1 BBB+ ◼ BBB+ SP Baa2 BBB ◼ ◼ BBB SNP Baa3 BBB- ◼ ◼ + BBB- T2 Investment Ba1 BB+ Grade BB+ Ba2 BB BB AT1 2023 2024 2025 2026 Moody’s Rating depósitos a largo plazo Fitch’s Rating emisor a larg
Slide 32: Non-performing loans
Non-performing loans Structure of NPLs(%) NPL ratio by segment(%) 6% Loan portfolio (€m) 1Q25 4Q25 1Q26 32% Corporates (incl. RED) 4.7% 3.4% 3.2% Residential mortgages 2.3% 2.1% 1.9% Consumer & other 1.9% 1.7% 1.8% Total NPL Ratio 2.6% 2.1% 2.0% 2% 59% Corporate Loans RE Developers Residential mortg
Slide 33: Breakdown of NPLs and stages
Breakdown of NPLs and stages Credit breakdown by stages March 2026 (€m) Stage 1 Stage 2 Stage 3 Gross balance 45,396 2,226 981 Coverage 235 133 416 Coverage level(%) 0.5% 6.0% 42.4% 33
Slide 34: Foreclosed assets
Foreclosed assets Evolution of foreclosed assets(€m) Breakdown of foreclosed assets(€m) 2 Gross Coverage Foreclosed assets (€m) NBV debt (%) 46 Residential 148 58 61% 607 564 Building under construction 50 3 94% Commercial RE 70 27 61% Land 296 40 86% 4Q25 Entries Exits 1Q26 Total 564 128 77% 34
Slide 35: Share and Book Value
Share and Book Value Share and liquidity(1): 1Q25 4Q25 1Q26 # O/S shares (m) 2,571 2,571 2,571 Last price (€) 1.71 2.78 2.52 Max price (€) 1.81 2.80 2.97 Min price (€) 1.26 2.28 2.45 Avg. daily traded volume (#shares m) 6.91 5.27 5.69 Avg. daily traded volume (€m) 10.55 13.02 15.20 Market Capitaliza
Slide 36: Income statement
Income statement Million euros 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 QoQ (%) YoY (%) Net Interest Income 390 383 384 381 369 374 375 378 373 -1.2% 1.3% Dividends 0 8 5 1 1 12 4 6 1 -81.4% 85.9% Associates 25 34 15 13 22 39 19 14 19 32.2% -12.9% Net Fees 130 126 125 131 132 130 130 135 136 1.1
Slide 37: Balance sheet
Balance sheet Million euros 31/03/2025 30/06/2025 30/09/2025 31/12/2025 31/03/2026 Cash on hand, Central Banks and Other demand deposits 7,726 4,864 5,792 5,761 5,693 Assets held for trading & Financial assets at fair value through P&L 1,456 1,436 285 1,033 1,079 Financial assets at fair value throu
Slide 38: Important legal information
Important legal information This presentation (the Presentation) has been prepared by Unicaja Banco, S,A. (the Company or Unicaja Banco) for informational use only. The recipient of this presentation has the obligation of undertaking its own analysis of the Company. The information provided herein i
Slide 39: Thank you
Thank you 1Q26 Earnings presentation