CaixaBank, S.A. Q3 2026 Earnings Recap

CaixaBank reported continued loan growth and improving profitability, while customer-fund growth slowed. The stock rose 2.6% after earnings, a relatively muted reaction.

Key Takeaways

• Performing loans grew 8% year over year; domestic lending growth was 6.4%. Residential mortgages rose 7%, while consumer lending growth decelerated to slightly below 10%.
• Customer funds increased 5.6%, with management noting a slowdown, particularly in sight deposits as household savings growth eased. CaixaBank said it continued to gain share in household sight deposits.
• Net interest income is growing, with customer spread adjusted for hedges up 2 basis points in the quarter and net interest margin up 3 basis points.
• Service revenues grew 7.7% year over year. Management raised its services guidance to about €5.6 billion and its return-on-tangible-equity guidance from above 18% to around 19%.
• Asset quality improved, with lower nonperforming loans and assets and coverage at 82%; the interim dividend was set at the upper end of the previously announced range.