Unicaja Banco (UNI) investor relations material

Executive summary

• Net income for Q1 2026 rose 1.4% year-over-year to EUR 161 million, supported by growth in net interest income and fees, and lower provisions.

• Business volumes grew over 3% year-over-year, with customer funds up 3.9% and mutual funds up 17.2%, maintaining a 9% market share in net inflows.

• Asset quality improved, with NPL ratio down to 2% and coverage up to 80%; NPLs fell 20% year-over-year.

• CET1 ratio stable at 16%, with capital allocated to shareholder remuneration and lending growth.

• Shareholder remuneration for 2025 reached EUR 443 million, with a 70% payout ratio and 9% dividend yield; guidance for 2026 targets up to 95% payout.

Financial highlights

• Net interest income increased by 1.3% year-over-year to EUR 373 million, but fell 1.2% sequentially due to lower day count.

• Total revenues/gross income reached EUR 520 million, up 1% year-over-year.

• Total costs/operating expenses grew by 4.5% year-over-year, in line with guidance and reflecting investments.

• Loan loss charges and provisions decreased by over 19% year-over-year; cost of risk at 20 basis points.

• Cost-to-income/efficiency ratio stood at 46%.

Outlook and guidance

• All strategic plan targets reaffirmed despite increased uncertainty and geopolitical risks.

• Net interest income and net profit expected to grow above 2025 levels; business volume targeted to increase by around 3%.

• Cost of risk guidance maintained below 30 basis points for 2026.

• Dividend payout policy increased to up to 95% of net profit for 2026 and 2027.

• Strategic focus on digital transformation, AI adoption, and sustainability initiatives.