Q3 2025 Unicaja Banco SA Earnings Call Transcript
Key Points
- Unicaja Banco SA (FRA:7UB) achieved a net profit of EUR503 million in the first nine months of 2025, exceeding their strategic plan target for the entire year.
- The bank's return on tangible equity adjusted by excess capital reached over 12%, with a cost-to-income ratio maintained at 45%.
- The net NPA ratio fell below 1%, with a significant 25% decrease in the stock of these assets, indicating improved credit quality.
- Total customer funds grew by 2.9% year-on-year, with mutual funds showing an impressive 24% growth.
- The bank's solvency and liquidity improved, with a CET1 fully loaded ratio reaching 16.1% and a liquidity coverage ratio close to 300%.
- Net interest income (NII) is expected to decline in the coming quarters due to the ongoing repricing of floating rate loans.
- Total performing loans fell by 0.7% in the quarter, with private sector loans decreasing by 0.8% year-on-year.
- The cost of risk guidance was initially set at 30 basis points but has been revised to below this level, indicating potential volatility.
- Banking fees remain under pressure, with expectations of continued challenges in 2026 before potential improvement in 2027.
- The SME loan book experienced a sharp decline, with a year-on-year decrease of around 8-9%.
Good morning to everyone, and thank you very much for attending our three-quarter 2025 results presentation. This morning, before the market opened, we published this presentation along with the rest of the usual financial information at the CNMV and on our corporate website. For this presentation, we have today our Chief Financial Officer, Pablo González. As usual, the presentation will last around 20 minutes, and it will be then followed by the regular Q&A. So without further delay, I will give the door to Pablo.
Thank you very much, Jaime. I will start on page three, where we show the main highlights of the quarter. Starting with the commercial activity, I would like to highlight that business volumes continue to improve 2% year-on-year, supported by stable loans and deposits and a significant growth of balance sheet funds, mainly in mutual funds, where we are growing an impressive 24% year-on-year, making 9% of net inflows market share. Total performing loans have
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