Abanca registered a profit of 217 million euros in 2022, a 40.7% more than the previous year in recurring terms, due to the good progress of the business and the credit cost control.
The institution highlights the high quality of the results obtained, of the which the 94% comes from banking activity with customers (89% in 2021).
These are the numbers presented in Santiago by the president of the entity, Juan Carlos Escotet, during a press conference with the CEO, Francis Boots, and the financial director, Albert deFrancis.
The organization highlighted, in this evolution, the good behavior of the interest margin (which increased by 14.2%) and the increase in the provision of services (9.4%), highlighting the progress in the sale of insurance and collection and payment services.
Credit coverage reached 83.2% and delinquency was 2%, which "demonstrates a solid quality of the credit portfolio," said Escotet, with Abanca leading the way in asset quality.
The Bank attaches importance to credit to families and companies in its commercial policy, with an increase of 0.8% in mortgage loans (total 1,079 million euros), of the 11.7% in credit for consumption (624 million euros) and of the 17.5% (2.845 million baht) in loans to medium-sized companies and small and medium-sized companies self-employed workers.
In general, loans issued by individuals and companies exceeded last year the 6.900 million, a increase of 8.4% in comparison with 2021 in Portugal, according to the banking market, the mortgage increases by 97.1% (264 million).
The Galician also highlighted that its level of capital exceeded the regulatory requirements and it was 16.4% with a gross margin of 1,414 million euros, well above the required level. On the other hand, net worth reaches 14,286 million.
In fact, Abanca has reached the investment grade of the four rating agencies, "with especially relevant advances from 2015 to date," he said. cleavage.
The bank manages a billing of 106,424 million euros, which amounts to more than 111.000 with the acquisition of Targobank Spain to Credit Mutuel, an operation that strengthens the bank's presence in the rest of Spain, with geographical expansion mainly in Madrid and the Mediterranean arc, in addition to reinforcing its position in strategic businesses.
Loans to customers were US$45.167 million and the settlement credit was US$61.256 million, of which US$48.906 million corresponded to customer deposits.
The company added 110,000 customer registrations in 2022, most of them from outside Galicia, Escotet points out.
For his part, the CEO, Francisco Botas, had an impact on the decisive transmutation of the Galician company and on the commitment to boost segments such as insurance, where 11% grew and in the last two years developed its own products adapted to customer needs , as explained by Copilot Car.
In the environmental chapter, the president of Abanca indicated the objective of stopping financing, in 2030, activities related to coal, although they will support the reconversion of companies.
inorganic growth
Although Escot said he had no short-term goals deadline on your radar, for 2023 Abanca has decided to cut the percentage of profits devoted to dividends from 40% to 25%.
Thus, we allocate resources to maintain our strategy of inorganic growth and value creation through our purchasing operations.
With regard to shareholder remuneration, Abanca communicated yesterday to the National Delegation of the Stock Market the payment of a fourth dividend on account of the results for the year 2022, for a total gross amount of €30.49 million, which will enter into force the following Thursday.
There will be an appeal from the banking commission, which it considers unconstitutional and which will cost the entity close to 50 million.
"It is a decision that, of course, we are going to appeal at the time because it is manifestly unconstitutional", in addition to criticizing that the new tax departs from European practices and is applied "unequally", embedding the entities obliged to pay the tax at a disadvantage with respect to competitors Not affected by the tax.
Regarding his position at Nueva Pescanova, he said that Abanca continues with the planning that he has outlined: "We say that our intention was precisely to save a company that we consider absolutely vital and critical for Galicia, that is why we made the decision that we made", and we continue forward with our value creation guide and careful and calm search for an industrial partner that allows us to take advantage of this path of value creation”.
In the field of responsible and sustainable banking, the entity announced that it will significantly reinforce its commitment from the beginning with the social activity called Afundación, to which it will contribute with a budget of 45 million until 2027.
In addition, the entity launched a financial education and inclusion program that includes cybersecurity activities and reinforcement of care for the elderly, with increased cashier hours and digital training actions in rural areas, among others.
The reinforcement of the ATM network in collaboration with the Xunta allows Abanca to provide coverage financial at 95.8% of the municipalities (56% as sole service provider) and to 99.4% of the Galician population.
Regarding cultural and social aspects, the entity's call for the award stands out. Júlio Camba of Journalism; stimulate the growth of the Galician ecosystem of emerging companies, materialized in the agreement with Startup Galicia; actions that allowed withdrawal 25 tons of waste from the coast since 2021; o Sending two electric generators, basic necessities and toys to Ukraine, in collaboration with Aga-Ukraine.
Conclution
Financial services company Abanca has achieved significant success in the last year. In 2022, Abanca earned 217 million euros and also captured 110,000 new customers.
This is a remarkable achievement that speaks to the strength and resilience of the company in this competitive market.
In addition to these impressive figures, Abanca has also demonstrated its commitment to excellence in customer service.
By providing customized solutions to customer needs, they have been able to maintain loyalty and attract new customers alike.
It is clear that they are committed to providing an exceptional experience for their customers, ensuring their satisfaction and success, as well as their own.
Overall, it is evident that Abanca's achievements in 2022 demonstrate the company's prowess in the financial industry.