Caixabank expects to achieve a return of more than 12% and an efficiency ratio of 48% in 2024, as well as an 8% increase in its interest margin and capital generation of approximately EUR 9,000 million, according to Strategic Plan 2022-2024 That the bank has sent to the National Securities Markets Commission (CNMV).
Strategic Priorities of the Strategic Plan for 2022-2024 caxabankFirst after the integration of Banksia, focusing on business growth, consolidating leadership in the individual segment, becoming the first bank for more companies, evolving the customer service model so as to be as customized as possible for the customer’s priority customers able to integrate itself. “A Benchmark in Sustainability in Europe”.
CaixaBank aims to grow its earnings by 7% between 2022 and 2024, driven by moderate growth (+2%) of insurance activity (+10%) and commissions, so that the margin of interests 8% growth supported by the new environment of interest rates.
The strategic plan states that cost effectiveness (ROTE) will be above 12% at the end of the period, almost double the current level, while the efficiency ratio will increase by 10 points to below 48% as of 2021. Another pillar would be the containment of non-performing loans, which are expected to fall below 3% by the end of 2024.
During the plan period, caxabank The internal objective has been set to hold the highest quality CET1 capital between 11% and 12%, implementing an “attractive” shareholder remuneration policy that will generate earnings growth and remain cost neutral following the strong reduction in 2022 will be based. To capture the synergy after the merger with Bankia.
Specifically, it plans to generate approximately ₹9,000 million in capital, including dividends (with a ‘pay out’ of more than 50%), additional capital of over 12% and delivery of ₹1,800 million in line with the share buyback plan. which will be distributed. Year. With regard to the latter, CaixaBank announced this Tuesday that the repurchase of shares would have a monetary amount of up to 1,800 million euros, not will cross 10% of the bank’s share capital, with a maximum tenure of 12 months and will be managed by Morgan Stanley Europe SE.
In the energy transition of companies and individuals, CaixaBank seeks to mobilize €64 billion In sustainable financing through promoting a range of initiatives focused on product offerings, ESG mentorship, awareness and training.
President of Caxabank, Jose Ignacio Goirigolzarihas pointed out that the strategic plan focuses on the customer and on “developing the best propositions that offer the best quality of service”. For GoRigolzari, the implementation of this roadmap will help Caixabank achieve three objectives. «First, offer the best value proposition to our customers; second, maintaining an attractive dividend policy for shareholders; and, third, promoting the energy transition of companies and societies to make Caixabank the benchmark in sustainability”, he added.
For his part, the entity’s CEO, Gonzalo Gortazar, highlighted that the Group’s objectives for the next three years are focused on driving revenue growth, promoting and continuing the best omnichannel relationship model with customers and that it consolidate. caxabank As a “Financial Group of Reference in Europe” for its social and environmental commitment.
“Thanks to the work of an exceptional workforce, we expect to be able to recover a return of 12% during the life of the plan, a return that will contribute to being able to adequately remunerate all our shareholders will highlight the reinforcements that it will mean for the La Caixa Foundation and its ability to continue essential social work”, he highlighted.
CaixaBank will repurchase its own shares for a maximum amount of 1,800 million