Corporate

Assets under management have increased, while non-performing assets and non-performing loans have decreased

Grupo Cooperativo Cajamar has sold a portfolio of 1,222 business loans with mortgage collateral, in the amount of approximately 308 million euros, to Link Financial Group. Grupo Cajamar continues to increase sales of distressed assets and to reduce non-performing assets, which at the end of the first quarter of 2018 are down 3 percentage points year-on-year.

Cajamar Caja Rural has completed the placing of a new issue of five-year mortgage covered bonds maturing on 18 June 2023. With an issue amount of 500 million euros and orders totalling close to 950 million euros, the offer was 1.8 times oversubscribed.

The volume of new lending – mainly to the agri-food sector, small and medium-sized enterprises and the self-employed – is up 12%, and the increase g year-on-year in performing loans is up 4.2% at 1.141.million euros in the first quarter of 2018 to 28.413 million euros.

Thanks to the commercial strategy pursued during 2017, Grupo Cooperativo Cajamar has been able to attract more customers, boost customer loyalty, grant more credit, grow the volume of managed customer funds and continue to gain market share. New lending grows 32%, mainly in the agrifood , SME and self-employed segments.

In recent weeks it sold two portfolios, one of foreclosed properties and another of defaulted loans, bringing the volume of problem assets sold in the year to date to 791 million euros.

At 30 September, Grupo Cooperativo Cajamar posted a consolidated profit of 67.4 million euros, 33.4% more than for the same period of the previous year, thanks to year-on-year growth in net interest income of 0.4% to 421.8 million euros. This improvement was fuelled by an increase in sight deposits – now accounting for 70% of total customer deposits – and a reduction in interest rates on new term deposits, helping to cut finance costs at a time of historically low interest rates.

At 30 June, Grupo Cooperativo Cajamar has a consolidated net profit of 44.3 million euros, 25.1% more than for the same period of the previous year, thanks to net interest income of 292.8 million euros, up 2.8% year-on-year

Grupo Cooperativo Cajamar achieved a consolidated net profit of 24.7 million euros in the first quarter of 2017, 81.2% more than the same period last year

Grupo Cooperativo Cajamar has obtained a profit of 76.1 million euros, 8.4% higher than the previous year, thanks to the increase of gross income by 6.6%, up to 1,013.4 million euros; a growth of 2.8% of net interest income excluded from the carry-trade, despite the scenario of minimum interest rates; and the credit weakness.