Latest news with #Unicaja
Yahoo
a day ago
- Business
- Yahoo
Unicaja sees gradual recovery lending income as profit beats forecasts
By Jesús Aguado MADRID (Reuters) -Spain's Unicaja on Tuesday forecast a gradual recovery in lending income in 2025 after a rise in fees also helped the lender beat profit forecasts in the second quarter. The country's sixth-biggest bank said it expected net interest income -- a measure of earnings on loans minus deposit costs --, to finish this year above 1.45 billion euros from a previous guidance of above 1.4 billion euros. This would still be a decline from 1.54 billion euros in 2024. Spanish banks have benefited from higher costs of loans tied mostly to variable rates, but lower rates are squeezing margins. Unicaja's net interest income, a measure of earnings on loans minus deposit costs, in the quarter fell 2.5% to 374 million euros against the same period a year ago but beat forecasts of 363 million euros. Compared to the previous quarter, however, NII was up 1.5% thanks to lower deposit costs and a recovery in loans. Madrid-based brokerage Renta 4 welcomed better margins and improved guidance for net interest income and commissions. At 0721 GMT, Unicaja was the best performer in Spain's blue-chip index with a rise of over 5%, while the index itself was up 0.4% Net profit in the quarter fell 2.4% to 179 million euros but was also above analysts' forecasts of 169 million euros despite booking 5 million euros against the renewed banking tax. The profit beat was also helped by a rise of 3.5% in total fees in the quarter which it expected grow at a low single digit rate this year from a previously expected "flattish" performance as banks try to lift non-core banking revenues. The bank's performing loan book was almost flat year-on-year in the quarter but rose 3.5% quarter-on-quarter. In it its new strategy, Unicaja had vowed to increase its profit with a push into business and consumer lending. New business lending in the April to June period rose 43% year-on-year while consumer lending was 40% up. Unicaja also announced an interim dividend of 169 million euros against 2025 results, 10% higher than in 2024. ($1 = 0.8632 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
a day ago
- Business
- Reuters
Unicaja sees gradual recovery lending income as profit beats forecasts
MADRID, July 29 (Reuters) - Spain's Unicaja ( opens new tab on Tuesday forecast a gradual recovery in lending income in 2025 after a rise in fees also helped the lender beat profit forecasts in the second quarter. The country's sixth-biggest bank said it expected net interest income -- a measure of earnings on loans minus deposit costs --, to finish this year above 1.45 billion euros from a previous guidance of above 1.4 billion euros. This would still be a decline from 1.54 billion euros in 2024. Spanish banks have benefited from higher costs of loans tied mostly to variable rates, but lower rates are squeezing margins. Unicaja's net interest income, a measure of earnings on loans minus deposit costs, in the quarter fell 2.5% to 374 million euros against the same period a year ago but beat forecasts of 363 million euros. Compared to the previous quarter, however, NII was up 1.5% thanks to lower deposit costs and a recovery in loans. Madrid-based brokerage Renta 4 welcomed better margins and improved guidance for net interest income and commissions. At 0721 GMT, Unicaja was the best performer in Spain's blue-chip index (.IBEX), opens new tab with a rise of over 5%, while the index itself was up 0.4% Net profit in the quarter fell 2.4% to 179 million euros but was also above analysts' forecasts of 169 million euros despite booking 5 million euros against the renewed banking tax. The profit beat was also helped by a rise of 3.5% in total fees in the quarter which it expected grow at a low single digit rate this year from a previously expected "flattish" performance as banks try to lift non-core banking revenues. The bank's performing loan book was almost flat year-on-year in the quarter but rose 3.5% quarter-on-quarter. In it its new strategy, Unicaja had vowed to increase its profit with a push into business and consumer lending. New business lending in the April to June period rose 43% year-on-year while consumer lending was 40% up. Unicaja also announced an interim dividend of 169 million euros against 2025 results, 10% higher than in 2024. ($1 = 0.8632 euros)
Reuters
a day ago
- Business
- Reuters
Unicaja's Q2 net profit falls 2.4% on banking tax, lower lending income
MADRID, July 29 (Reuters) - Spain's Unicaja ( opens new tab on Tuesday said its net profit fell 2.4% in the second quarter compared to the same period in 2024 due to the impact from the renewed banking tax and lower lending income. The country's sixth-biggest lender by market value reported a net profit of 179 million euros ($207.37 million) in the April to June period. Analysts polled by Reuters expected a net profit of 169 million euros. In this quarter, Unicaja booked a charge of around 5 million euros against the banking levy, according to a spokesperson, as it adjusted the impact on a linear quarterly basis based on the tax legislation currently in place. In the previous years, the bank booked the amount for the full year in the first quarter. In 2024 it took a hit of 79 million euros. In an environment marked by lower borrowing costs, Unicaja's net interest income (NII), a measure of earnings on loans minus deposit costs, in the quarter fell 2.5% from the same period a year ago, compared to forecasts of 363 million euros. Compared to the previous quarter, however, NII was up 1.5%. ($1 = 0.8632 euros)
Reuters
a day ago
- Business
- Reuters
Unicaja's Q2 net profit falls 2.4% compared to same period in 2024
MADRID, July 29 (Reuters) - Spain's Unicaja ( opens new tab on Tuesday said its net profit fell 2.4% in the second quarter compared to the same period in 2024 due to the impact from the renewed banking tax. The country's sixth-biggest bank in terms of market value reported a net profit of 179 million euros ($207.4 million) in the April to June period, down from 184 million euros in the second quarter of 2024. Analysts polled by Reuters expected a net profit of 169 million euros. ($1 = 0.8631 euros)
Yahoo
17-07-2025
- Business
- Yahoo
Unicaja, DXC forge ten-year partnership for banking transformation
DXC Technology has entered into a ten-year partnership with Spain-based bank Unicaja, aimed at modernising the bank's operations. The collaboration will leverage DXC's capabilities in advanced technologies, specifically artificial intelligence (AI), to enhance automation, agility, and customer interactions. This initiative is intended to improve operational efficiency and productivity while providing a more tailored customer experience to Unicaja, according to the company. Unicaja technology and operations head Estrella Botas said: 'This marks a milestone in our evolution toward a more agile and intelligent operating model, ready to face the challenges of the financial sector. 'It's not just about incorporating technology but about transforming the way we operate to deliver better service to our customers.' The partnership aligns with Unicaja's strategic plan for 2025–2027, which focuses on innovation through enhanced customer service, product customisation, and operational flexibility. Additionally, DXC will assist Unicaja in ensuring that its banking systems comply with evolving European regulations. Following regulatory approval, DXC is set to acquire FK2, a subsidiary of Unicaja, and will take charge of a specialised team with expertise in banking and technology. DXC Technology Spain and Portugal managing director Alfonso Garcia said: 'This partnership further strengthens our global leadership in the banking sector, where the world's leading financial institutions rely on our decades of experience and deep industry expertise. 'In Spain, we support all major banks in driving competitive advantage and navigating complex challenges. Our commitment is to deliver operational excellence and position Unicaja as a global benchmark for AI-driven business transformation.' Last month, DXC Technology and Thought Machine launched a joint solution to accelerate banking modernisation for small and midsize banks. The partnership combines DXC's IT services with Thought Machine's Vault Core and Vault Payments platforms to streamline digital transformation. "Unicaja, DXC forge ten-year partnership for banking transformation" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
