CaixaBank (CABK) Q2 2026 earnings summary

Executive summary

• Net profit for H1 2026 reached €3.2 billion, up 8.5% year-over-year, driven by strong commercial activity, customer acquisition, and robust lending and customer fund growth.

• Customer base expanded to 20.9 million in Spain and Portugal, with over 1.1 million new clients in Spain in the past year.

• Business volumes rose 7.8% year-over-year to nearly €1.2 trillion, with market share gains in payroll deposits, household deposits, private sector loans, and insurance.

• Digital transformation and AI adoption are driving operational efficiency and customer engagement.

Financial highlights

• Net income for 2Q26 was €1,631 million, up 10.1% year-over-year; H1 net income at €3,203 million, up 8.5% year-over-year.

• Net interest income reached €5.39 billion (+2.0% YoY); service revenues up 7.4% to €2.77 billion.

• Cost-to-income ratio at 39.6%, outperforming peers; ROTE at 18.0% for the last 12 months.

• CET1 ratio at 12.54% as of June 2026; leverage ratio at 5.6%.

• NPL ratio improved to 1.78%, with coverage at 81%.

Outlook and guidance

• Spanish GDP growth forecast for 2026 upgraded to 2.4%, with robust fundamentals and strong labor market.

• Guidance for NII and revenues reconfirmed for 2027, with FY26 NII expected to exceed €11 billion and service revenues projected to grow up to 5%.

• Loan growth for the year now expected closer to 7%, above initial 5-6% guidance.

• Full-year payout ratio targeted at 50–60% of consolidated net profit, with interim dividend for 2026 set between €961 million and €1.28 billion (30–40% of H1 net profit), payable in November.

• CET1 management target for FY26 set at 11.5-12.5%.