Unicaja Banco, S.A. (UNJCF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you very much for attending our first quarter 2025 presentation. This morning, as usually, before market opening, we published this presentation along with the rest of our usual financial information at the CNMV and our corporate website. Today, we have with us our Chief Financial Officer, Pablo González, that will be this time the one going through the slides. So without further delay, I'll give the floor to him. Pablo, whenever you want. Thank you very much, Jaime. I will start on page three, where we show the main highlights for the quarter. Starting with commercial activity, I would like to highlight that business volumes improved by 2.4% year on year, supported by some positive trends that have been confirmed in the first quarter of 2025. where of balance sheet funds grew 3.8%, but also thanks to much more stable trends in performing loans that grew 0.3% quarter on quarter. Such loan growth was explained by an impressive improvement in private sector new lending that in the first three months of the year was 44% above the first three months of last year. Regarding profitability, net income grew 43% year-on-year in Q1 2025 to €158 million, representing a return on tangible equity adjusted by excess of capital of 11%. The positive dynamics at the beginning of the year are also reflected in the cost-to-income ratio that improved 3 percentage points in the year to 46%. The start of the year on credit quality terms was also very positive. NPL fell 5% quarter-on-quarter and foreclosed assets fell 7% in that same period. This left total NPAs 22% below first quarter 24%. A significant decrease of NPAs that has taken place while we also increased their coverage from 71% at the end of 2024 to the current 73%. The cost of risk was 27 basis...