Spanish bank Cajamar reports a profit of €326 million in 2024, with net interest income increasing by 14.3% to €1,215 million. Read more.
In a remarkable display of financial prowess, Cajamar, the Spanish banking institution, has announced a staggering net profit of €326 million for the fiscal year 2024, marking an impressive increase of 157% compared to the €127 million recorded in 2023. This substantial leap in profitability is underscored by a robust growth in net interest income, which surged by 14.3% to reach €1,215 million.
The bank’s gross income also exhibited a commendable rise of 16.6%, culminating in a total of €1,552 million, while operating income experienced a notable increase of 20.7%, amounting to €819 million. Such figures not only reflect the bank’s operational efficiency but also its strategic positioning within the competitive financial landscape.
Cajamar’s lending portfolio, which stands at €38,584 million, has seen a 4.3% increase from the previous year, with a particularly noteworthy 9.2% growth in loans extended to corporate entities. The allocation of the loan portfolio reveals a strategic emphasis on the agri-food sector, which comprises 42.5% of the total, while large companies and small to medium-sized enterprises account for 33% and 24.5%, respectively. This allocation underscores the bank’s commitment to supporting sectors deemed “strategic” for its overarching growth objectives.
Moreover, Cajamar boasts one of the lowest non-performing loan (NPL) ratios in the banking sector, currently at a mere 1.93%. This is complemented by a commendable NPL coverage ratio, which has shown an upward trajectory, now standing at 72.1%.
As of the end of 2024, Cajamar has successfully catered to a clientele of 3.8 million customers, facilitated through its extensive network of 976 branches and rural windows. Notably, the bank has also deployed eight mobile offices, extending financial services to 54 small towns with populations ranging from 170 to 1,500 inhabitants, thereby reinforcing its commitment to financial inclusion and accessibility.
Cajamar’s financial results for 2024 not only highlight its impressive growth trajectory but also its strategic focus on key sectors, prudent risk management, and dedication to serving diverse communities across Spain.
