CaixaBank wants to take advantage of the “more favorable” economic environment to increase its profitability and credit to companies and families. In the 2025-2027 Strategic Plan presented today, the financial institution has committed to achieving a return of 15% on its capital, the ROTE in financial jargon. The latest profitability figure was 16.9% while in the previous plan that started in 2022 the objective was 12%.
The average profitability for the 2022-24 period is around 14%. The lower profitability expected for the coming years compared to the current situation is due to the expected lower rates.
What clients of this plan will notice is that the volume of loans to companies and families will grow around 4% annually, as stated in the communication sent by the bank.
How will improved profitability be achieved? With the acquisition and connection of clients and with the promotion of digital contracts thanks to the launch of new products and services, fundamentally. That is at least what the entity highlights in the Plan, which also hopes to rely on a better economic prosperity than the one that has occurred in recent years. “We want to take advantage of a foreseeably more favorable economic environment to take a leap forward in our quality of service, our technological capabilities and in the development of the talent of our staff. All of this will result in greater growth of the economy and adequate remuneration for our shareholders” , said the CEO, Gonzalo Gortázar. The manager presents the Strategic Plan again as he did in 2018 and in 2022 but, this time alone, without the president. In 2018 he did it with Jordi Gual and in the. 2022 with José Ignacio Goirigolzarri. And although this is still the president, he will be replaced by Tomás Muniesa on January 1.
The bank has committed to investing 5,000 million euros in technology during the rollout of the plan
The bank has committed to investing 5 billion euros in technology during the rollout of the plan. Among the new mechanisms that they want to implement, the use of igenerative artificial intelligence.
Regarding hiring forecasts, the group wants to recruit 3,000 young people in the period 2025-2027, the mMostly with technical profiles.
Regarding the past, the bank makes a “positive assessment of the 2022-2024 strategic plan” especially the integration of Bankia.
Source: www.lavanguardia.com
