CaixaBank (CABK) Investor Day 2024 summary

Strategic priorities and market outlook

• Focus on growth, transformation, and sustainability, leveraging a strong competitive position after successful integration and streamlining efforts.

• Expect Spanish GDP growth of 2%-2.5% annually (2025-2027), with loan growth converging toward nominal GDP growth of 4.6%.

• High savings rates and population growth in Spain are expected to drive customer funds and deposit growth.

• Energy transition and demographic shifts, especially among seniors, present new business opportunities.

• The environment is seen as the most positive in recent years, supporting ambitious growth targets.

Starting position and ambition

• Successfully executed 2022-24 plan, surpassing targets in business volume, wealth management, and cost synergies.

• Reinforced leadership in retail banking with #1 market share in Spain for business volume, wealth management, and life-risk insurance.

• Achieved €74.7Bn in sustainable finance mobilisation and distributed €12Bn in capital over 2022-24.

• 2025-27 ambition is to sustain high profitability, targeting average ROTE >15% and further growth.

• Strategic pillars: growth acceleration, transformation and investment, and distinctive ESG positioning.

Opportunity: key backdrop trends

• Iberian economies expected to grow ~2% per year in 2025-27, outpacing the Eurozone.

• Private sector deleveraging stabilising, with savings rates at historical highs and loan growth resuming.

• Demographic shifts (immigration, longevity) and energy transition create new bancassurance opportunities.

• High investment needs in green transition and housing, supported by EU funds.

• Well positioned to capitalise on these trends with scale and integrated model.