CaixaBank (CABK) AGM 2025 summary

Opening remarks and agenda

• The meeting was held in Valencia with both in-person and remote participation, enabling shareholders to exercise their rights and vote remotely in real time.

• The event was audited as a sustainable event, aligning with sustainable development goals, and convened to approve 2024 accounts and other agenda items.

• Shareholders had access to all meeting documents online and in hard copy, with interventions allowed both in-person and remotely.

• Attendance reached a record high, nearly triple the previous year, with over 17,000 shareholders present or represented, accounting for over 82% of capital.

• The Annual General Meeting presented highlights on commercial activity, financial strength, results, and the 2025-27 Strategic Plan.

Financial performance review

• Net profit for 2024 reached EUR 5,787 million, a 20.2% increase over 2023, with total revenues up 11.5%.

• Performing loan book grew to €352Bn YTD, up 2.2%, with new lending up 27% versus 2023.

• Customer funds reached €685Bn YTD, up 8.7%, with wealth management up 11.7% and deposits up 6.4%.

• Efficiency ratio improved to 38.5%, and solvency (CET1) ratio stood at 12.2%, with liquidity at EUR 170.7 billion.

• NPL ratio dropped to 2.6%, a historical minimum, with high NPL coverage at 69%.

Board and executive committee updates

• Tomás Muñoz assumed the presidency on January 1, 2025, following the resignation of José Ignacio Goirigolzarri.

• Amparo Moraleda Martínez appointed Vice President; three board members proposed for re-election and five new members nominated.

• Board composition maintains 60% independent directors and 40% female representation.

• CEO Gonzalo Gortazar led the AGM, presenting the results and strategic direction.