Kutxabank has obtained a net profit of 639 million euros in the first nine months of the year, which represents an increase of 38.4% compared to the same period of the previous fiscal year. The entity has advanced that 70% of that gain will be directed to social dividend. The total business volume reaches 157,775 million, 8.8% more, supported by the strength of its commercial activity and the good performance of its main strategic lines, according to what it communicated this Thursday.
Income from "core" activity increases by 1.4%, to stand at 1,429.3 million euros, while the interest margin reaches 878.7 million, 2.3% less. However, in the third quarter this margin improves by 4.1% compared to the same period of the previous year, thus consolidating the change in trend.
On the other hand, income from services and insurance advances by 8.1%, driven especially by wealth management –off-balance-sheet assets: investment funds, delegated portfolios and provision–, which rises by 11%, while the insurance business grows by an additional 8.6%.
(WILL BE EXPANDED)