Fernando Ulrich, President of BPI, José Ignacio Goirigolzarri, President of CaixaBank, Gonzalo Gortázar, CEO of CaixaBank, João Pedro Oliveira e Costa, CEO of BPI.
• The Group’s supreme decision-making body reaffirms CaixaBank’s commitment to the growth of Portuguese BPI within the framework of its Strategic Plan.
CaixaBank’s Board of Directors met in Lisbon for the first time since the merger with Bankia, reaffirming its commitment to Banco BPI’s growth within the framework of the Group’s new Strategic Plan. This is the second time CaixaBank’s highest decision-making body has met in the Portuguese capital since BPI joined the CaixaBank Group in 2017.
In doing so, CaixaBank demonstrates its commitment to the Portuguese bank, the fourth in the country in terms of assets under management, with a market share of 11.1% in gross credit and 11.4% in customer deposits.
During their visit, the members of the Board of Directors of CaixaBank were able to meet the Board of Directors of BPI, with which it shares two representatives, Fernando Ulrich, Chairman of BPI and Director of CaixaBank, and Gonzalo Gortazar, CEO of CaixaBank and director of BPI.
CaixaBank directors were also able to hear first hand from BPI CEO, João Pedro Oliveira e Costa, about the bank’s growth strategy in the Portuguese market and its efforts to help its customers, the economy and Portuguese society.
José Ignacio Goirigolzarri, President of CaixaBank, underlined the importance of BPI for the CaixaBank Group: “Banco BPI is a fundamental asset for the Group, not only from a financial point of view, but also because of the professionalism and commitment of its staff. the bank’s quality ratios and reputation are the best in the Portuguese market, and they are an example for the whole group. We want to take this opportunity to congratulate the BPI team for their successful journey and for their motivation and its alignment with the CaixaBank Group, constantly supporting our leadership in the Iberian Peninsula”.
Gonzalo Gortázar, CEO of CaixaBank, said he was satisfied with the evolution of the Portuguese subsidiary: “BPI is in a virtuous circle, increasing its turnover and its market share, and improving its efficiency over the year year, allowing it to invest more every day in improving its products and services, while accelerating its growth. We are convinced that with the financial, commercial and operational support of CaixaBank, as well as the commitment, professionalism and talent of the excellent team in place at Banco BPI, the bank will be able to continue on this path for the coming years.” .
Concerning BPI, the new 2022-2024 Strategic Plan targets revenue growth of 9% (CAGR, or compound annual growth rate) and 9% (CAGR) for long-term savings, as well as a higher RoTE increase to 12% by 2024, and a base cost/income ratio improvement of 48% by 2024.
In the five years since its integration into the CaixaBank group, BPI has grown from the fifth to the fourth largest bank in the country, with an increase in the CAGR of its turnover of 5%. It also saw increases in market share, such as credit, which rose from 9% to 11.1%, business loans, from 7.8% to 10.6%, and mortgages, from 11. % to 13.1%. As for the core cost-to-income ratio, it improved from 64.8% to 54.2% (nearly 11 percentage points), and the non-performing loan ratio fell from 5.1% to 2 .3% (nearly 3 percentage points), well below the sector average in Portugal, which stands at 4%.