Strong Volume Growth
Performing loans increased by 4.8% year-on-year, deposits rose by 7%, and Wealth Management grew by 8% year-on-year. These metrics indicate a strong performance and improving market share.
Improved Guidance
Guidance for revenues from services has been upgraded to mid-single-digit growth, cost of risk guidance reduced to around 25 basis points, and return on tangible equity above 16%.
Solid Economic Performance
Spain's GDP grew by 0.7% quarter-on-quarter, significantly outpacing the Eurozone's 0.1% growth, indicating strong economic conditions in Spain.
Technological and Strategic Advancements
Introduction of platforms like Facilitea Casa and Coches, offering new services and significantly growing vehicle financing business by 34% year-on-year.
Noninterest-Bearing Deposit Growth
Significant growth in noninterest-bearing deposits, adding over €5 billion in a single quarter.