CaixaBank (CABK) Q3 2026 earnings summary

Executive summary

• 9M26 attributable profit was €4,962m, up 12.9% YoY; gross income rose 4.4% to €12,656m and pre-impairment income increased 4.6% to €7,653m.

• Commercial momentum remained broad, with performing loans up 8% YoY, customer funds up 5.6%, and service revenues up 7.7%; ROTE reached 18.8%.

Financial highlights

• 9M26 net interest income rose 2.9% YoY to €8,186m; service revenues increased 7.7% to €4,182m, led by wealth management (+12.5%) and protection insurance (+14.5%).

• 9M26 profit before tax rose 6.9% to €6,926m; attributable profit reached €4,962m. Allowances for insolvency risk increased 20.9% to €746m.

• 3Q26 attributable profit was €1,759m, up 21.7% YoY and 7.8% QoQ; gross income rose 5.9% YoY and 2.5% QoQ to €4,318m.

• Banking fees declined 0.9% YoY, while adjusted banking fees were slightly positive after accounting for higher SRT activity.

• 9M26 operating expenses grew 4.3% to €5,000m; 3Q expenses rose 4.0% YoY to €1,684m.

Outlook and guidance

• FY26 service-revenue guidance rose to >€5.6bn and ROTE guidance to ~19%; FY26 NII guidance is >€11bn, with operating-cost growth expected at ~4.5%.

• 2027 NII guidance of €12.5bn was reaffirmed as a balanced reference point; customer spread is expected to reach the 300-bp range in Q4 and rise into 2027.

• FY26 cost of risk is expected below 0.25%; the 2025–27 plan targets ~20% ROTE in 2027 and ~6% business-volume CAGR.

• 2026 cash payout target remains 50%–60% of consolidated net profit; additional distributions are subject to ECB and Board approval.

• Private-sector deposit growth is expected to remain above 3% through year-end and improve gradually in 2027; lending growth may moderate from 8% toward ~7%.