The Spanish Caixabank announced that the recurring profits for the quarter of 2021, decreased by 51% compared to last year, due to the lower extraordinary profits.
Caixabank, which closed its € 4.3 billion acquisition of Bankia in March in a defense deal to better deal with extremely low interest rates and the pandemic, announced € 337 million in non-emergency profits in October. December.
Last year in the corresponding period it had shown profits of 705 million Euros, combining them with Bankia’s activities on a pro forma basis.
Net profit for the quarter fell 35% to 425 million euros compared to the 433 million euros expected by analysts.
Net profit in the same quarter last year without Bankia, amounted to 655 million euros.
The bank also stressed that it targets a dividend policy of 50% -60% for consolidated profits in 2022 compared to 50% in 2021.
It also announced its intention to implement a share purchase program in the year 2022.
Source From: Capital
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