Kutxabank made a profit of 638.9 million euros until September, 38.4% more than last year

Kutxabank 'snet profit until September was 638.9 million, an increaseof 38.4% over last year.

According to the financial institution, thestrengthof the business   and the performanceof its main strategic lines  have contributed to this.

Between January and September, it increased its credit portfolio by 8.8%, as well as customer resources — deposits and off-balance sheet resources. In fact, they have increased their year-on-year turnover by 8.8%, to EUR 157.775 billion.

Kutxabank highlighted in a statement that 70 % of the net result has been earmarkedfor dividend . It is precisely this dividend that he has distributed to the shareholders of the foundation for the development of the social work. On the other hand, 83% of its income is reimbursed to society through wages, purchases from suppliers, tax payments and social dividends.

In the first nine months of theyear, the bank has granted EUR 3.16 billion of new financing to private customers  for the purchase of a home, in addition to a 19.7% increase in consumer loans to EUR 730 million.

Along with this data, Kutxabank reports that 70% of its customers are currently in digital banking.

Thus, Kutxabank has the highest solvency and default ratios among the banks overseen by the European Central Bank, 21% in September, and 0.88% in arrears.