Q2 2025 Unicaja Banco SA Earnings Call Transcript
Key Points
- Unicaja Banco SA (UNJCF) reported a 15% increase in net profit for the first half of 2025, reaching EUR 338 million.
- The bank's CET1 fully loaded ratio improved by 45 basis points to 15.8%, indicating strengthened solvency.
- Customer funds saw a notable 6% increase, driven by mutual fund balances growing over 25% since June last year.
- The bank's efficiency ratio remains stable at 45%, despite increased expenses due to strategic investments.
- Unicaja Banco SA (UNJCF) announced a 10% increase in the interim dividend, reflecting improved profitability and shareholder returns.
- The net interest income (NII) is expected to face pressure due to the reappreciation of variable rate loans at lower rates.
- The bank's customer spread is anticipated to continue its downward trend for at least two more quarters.
- Unicaja Banco SA (UNJCF) is experiencing a slight decrease in market share in the mortgage segment.
- The cost of risk guidance remains at 30 basis points, reflecting caution amid macroeconomic uncertainties.
- Despite improvements, the bank's lending growth is primarily driven by short-term working capital, which may not be sustainable long-term.
Good morning, everyone, and thank you very much for attending the second quarter 2025 results presentation. As usual, this morning before the opening of the market, we've published this presentation along with the rest of the quarterly financial information with the CNMV and on our own corporate website.
As is the norm with our half yearly results, we have with us for the presentation, our CEO, Isidro Rubiales and CFO, Pablo González. After the presentation, we will give way to the analysts and investors who are following us by telephone and the original line in Spanish. And then we'll give way to the telephone line in English. And finally, if there are more questions and we have time, we will answer the questions through the Internet. So without further ado, I give the floor to you Isidro.
Thank you very much, Jaime. Good morning, and thank you very much also to all of you who are following this broadcast. It's
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