Bankia obtained a net profit of 541 million euros during the past year, which represents a 23% year-on-year decrease due to lower generation of results with the sale of fixed-income portfolios and a reinforcement in the provisions associated with the accelerated divestment of assets doubtful
The core or purely banking result, however, rose 3.5% and reached 1,287 million "after stabilizing recurring revenues and reducing expenses" more than expected, the bank explained to the National Market Commission on Tuesday. Securities (CNMV).
The president of Bankia, José Ignacio Goirigolzarri, stressed that this core benefit, "which is the one that most clearly measures the evolution of the banking business," also accelerated in the final part of the year and grew 12% year-on-year in the fourth quarter as a culmination of a 2019 that has been "the best year in commercial terms since the creation of Bankia".
The commercial pulse reported to the entity gains in market share, especially in businesses considered key or of greater value. The healthy or non-doubtful loan portfolio increased 0.2%, reaching 106,700 million; with expansions of 12.5% in the consumer finance stock and 9% in the companies. Its market share in both businesses stood at 5.88% and 7.75% in November, respectively, after scratching 30 points and 33 basis points in the banking business pie in both cases.
"Our clients are asking us for more financing, mainly in the business and consumer credit segments, which are gaining a lot of weight in our balance sheet and resulting in our credit portfolio being increasingly balanced, in line with the objective of the plan ", explained the CEO, José Sevilla.
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