Renta 4 Banco S.A. (R4) Q2 2025 earnings summary

Executive summary

• Net profit for the first half of 2025 reached €19.4M, up 26.7% year-over-year; Q2 net profit was €10.5M, a 25.5% increase compared to Q2 2024.

• Strong commercial activity led to increased volumes and positive commission figures across all business lines.

• Customer assets at June 2025 totaled €38.8B, up 15.7% year-over-year, with 141,646 clients, a 10% increase.

• Latin American subsidiaries contributed 10.5% to consolidated results in the first half.

Financial highlights

• Net commissions for H1 2025 were €61.1M, up 17.2% year-over-year; gross commissions rose 16.1% to €107.7M.

• Interest margin for H1 2025 was €13.2M, a 20.9% increase; Q2 interest margin was €6.7M, up 17.7%.

• Gross margin for H1 2025 reached €81.4M, up 17%; Q2 gross margin was €41.7M, up 13.2%.

• Operating expenses for H1 2025 were €56.1M, up 13.1%; Q2 operating costs were €28.6M, up 9.9%.

• Operating activity result for H1 2025 was €26.6M, up 27.8%; Q2 result was €14.1M, up 25.5%.

Outlook and guidance

• Positive business outlook for H2 2025, expecting continued growth in client base and assets.

• Anticipates intensifying demand for investment services due to trends in energy transition, AI, infrastructure, and defense.

• Plans to maintain high ROE and strong solvency and liquidity ratios.