Its balance sheet and income statement point to the business performing better, more lending, a rise in retail funds, a decrease in non-performing assets, a reduction in foreclosed assets, a smaller NPL ratio, higher NPA coverage ratio and greater solvency.
- At the end of 2020, Grupo Cajamar posted a consolidated net profit of €23.80 million – 74.3% less than in 2019, after pushing up its non-performing loan (NPL) coverage ratio to 58.9% and non-performing asset (NPA) coverage ratio to 56.7% – factoring in debt forgiveness in foreclosure procedures – and earmarking €75 million specifically as an extra provision to help mitigate against the impact of the pandemic.
- The volume of performing loans and receivables grew 10% to €32,545 million, used to finance investments by corporations, SMEs and households, and especially the agri-food sector, while also supporting customers affected by the pandemic through loans and repayment holidays.
- On-balance sheet retail funds are up 15.4% (€4,693 million) year-on-year (YOY), while off-balance sheet funds increased by 4.2% due to the decent performance of mutual funds and pension plans.
- A streamlining of operating expenses left the cost-to-income ratio at 54.7%.
- The bank's successful handling of total non-performing assets, cutting them by €289 million YOY (down 14.8% YOY), and better performance of loans and receivables drove the NPL ratio down 1.3 percentage points (pp) to 4.8%. Meanwhile, there was a 3.9% YOY drop in gross foreclosed assets, despite the negative effects of the pandemic on property sales.
- During what was a challenging year, the capital adequacy ratio rose by 0.8 pp to 15.5%, while the phased-in CET 1 ratio reached 13.8% and the fully loaded CET1 ratio climbed to 13.1%, comfortably above the supervisor's requirement.
- The bank boasts over 3.5 million customers on its books, 1.5 million of whom are loyal. Digitalisation continues a pace and the number of digital customers has continued to grow to 934,000 – 14% more than in 2019. The bank now serves 720,000 mobile banking users (up 33.2%) and 377,000 Wefferent account holders (31% more).
(Source : BCC Grupo Cajamar website)