Strong Volume Growth
Performing loans increased by 4.8% year-on-year, deposits grew by 7%, and wealth management is up 8%. This growth is attributed to an improving market share and a strong Spanish and Portuguese economy.
Improved Guidance
Guidance has been upgraded, with services revenue expected in the upper mid-single-digit range and cost of risk guidance reduced to around 25 basis points.
Solid Economic Performance
Spain's GDP increased by 0.7% quarter-on-quarter, significantly outpacing the Eurozone's 0.1% growth, indicating a strong local economy.
Capital and Liquidity Strength
Return on tangible equity reached 18.5%, and net income is up by 10%. Liquidity coverage ratio is at 217% and net stable funding ratio at 150%.
Digital and Business Transformation
Initiatives like Facilitea Casa and Facilitea Coches show promising early growth, with significant increases in listed properties and vehicle financing.