2023 was a record year for the main Spanish banks: overall, the profits of the top five Iberian credit institutions - Santander, BBVA, CaixaBank, Sabadell y Bankinter - were, added together, equal to over 26 billion euros, or approximately 27% more than in 2022. This is the calculation made by the Efe news agency after each of these banks announced the results of the past year.
According to analysts, these increases were influenced by the increases in interest rates applied by the European Central Bank as an anti-inflation measure.
In detail, Santander recorded net profits of over 11 billion euros (+15%), Bbva 8 billion (+22%), Caixabank 4.8 billion (+54%), Sabadell 1.3 billion (55% ) eBankinter 845 million (+50%).
These earnings may have been even higher without the extraordinary tax on banks' extra profits introduced by the government on a temporary basis (for which these credit institutions paid around one billion euros to the state in 2023).
The executive is studying whether to make this tax permanent.
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