alphaspirit.it, CaixaBank, Banco Sabadell No One Expected the Latest News from CaixaBank and Banco Sabadell: Many Celebrate It
Banks try to offer better conditions when granting loans and mortgages to citizens
CaixaBank and Banco Sabadell are very clear about where they should set their sights in the future. There has always been a great rivalry between the entities, but now they are embarking on a new commercial battle that will leave no one indifferent. They will pay much more attention to key sectors such as mortgages.
Consumers and businesses can celebrate this news. They will be very benefited by all these new developments that the market will bring us in the coming months.
The Battle for Mortgages Between Sabadell and CaixaBank
The mortgage market has undergone a great transformation in recent years. Interest rates, driven by the behavior of the Euribor, have affected the profitability of banks. However, instead of stagnating, CaixaBank and Banco Sabadell have found a new way to grow, adapting to market conditions.
The decline in margins caused by the Euribor's retreat has forced the entities to change their focus. Both banks have focused their attention on increasing the volume of mortgage loans, a segment that is seeing a significant recovery.
In 2023 and 2024, both CaixaBank and Banco Sabadell managed to significantly increase their profits. This growth was driven by the revaluation of their credit portfolios, a trend that, however, began to slow down after the summer.
CaixaBank's Numbers in 2024
CaixaBank has managed to stand out in the mortgage market. In 2024, the entity reached a record volume of 14.375 billion euros in new mortgage loans for home purchases. This figure represents an impressive 53% increase compared to the previous year.
Additionally, CaixaBank's mortgage portfolio grew by 0.5%, reaching 133.912 billion euros, according to El Confidencial. This result is a clear sign that it has managed to take advantage of the growth in mortgage demand. The bank's strategy of offering attractive conditions for customers is bearing fruit.
The Rise of Banco Sabadell
Banco Sabadell has not been left behind. It has also experienced a notable increase in its mortgage production, reaching 5.753 billion euros in new loans. This represents a 53% increase compared to the previous year.
Additionally, the outstanding mortgage portfolio grew by 3%, reaching 38.800 billion euros. This increase is the largest recorded by the bank in recent years, showing that its strategy is working.
The growth of Banco Sabadell in the mortgage sector reflects its ability to adapt to new market dynamics. In addition to its effort to continue offering competitive conditions to its customers.
Other Banks Don't Want to Be Left Behind Either
CaixaBank and Banco Sabadell have been the most prominent in terms of mortgage production. But other big players like BBVA and Santander have also had good results.
It is true that they don't usually publish detailed figures on mortgage production. But the CEO of BBVA recently indicated that the entity had experienced a 7% growth in this sector.
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