Cajamar increases its profit by 17.2% to 82 million

The improvement of the business, the reduction of doubtful risks, the foreclosed assets and the moderation of operating expenses has boosted the net profit of the group Cajamar up to 82.06 million euros between January and September. The result is 17.2% more than the same period of the previous year.

Total assets in balance at the end of the quarter exceeded 45,600 million, 6.8% more, while the total volume of managed business stood at 77,168 million, 3.6% higher.

Retail resources in balance rose 8.7%, according to the bank, which also highlighted the positive evolution of the activity in investment funds, pension plans and savings insurance, and financing granted to families and businesses, with an increase of 1.4%.

44.1% of the total credit granted It went to companies and the agri-food sector. The entity closed the third quarter with more than 3.4 million customers, and as noted, advances in its digital strategy, with 792,000 digital customers, up 13%.

Regarding risk management, total doubtful assets were reduced by 19.7% -518.8 million euros less, while the delinquency rate fell to 6.63%.

The volume of gross foreclosed assets decreased 7.1%, while the coverage rate of foreclosed assets rose to 53.04%.

With respect to the main margins of the income statement, the interest rate rose 1.3%; and the gross, 29%, driven by the results of financial operations and the increase in the results of companies with strategic alliances.

The dynamism of the income and the moderation of the operating expenses have contributed to the increase of the operating margin by 67.6% and, therefore, to the improvement of the efficiency ratio, up to 46.7%.

Regarding capital, the highest quality capital ratio taking into account future requirements, which is known as CET1 "fully loaded", rose to 12.41%.