Integrated Corporate Report 2017
CaixaBank continues to base its actions on its 2015-2018 Strategic Plan, “Committed to trustworthy and profitable banking”, as it seeks to consolidate its commercial leadership in Spain and be recognised for its quality of service, social responsibility, financial robustness and capacity to innovate.
CaixaBank remains well on track when it comes to its strategic objectives:
The bank’s profitability continues to grow thanks to strong income, cost savings and improvements in credit quality. The Bank has also enhanced its capital adequacy and liquidity, which are comfortably clear of the minimum regulatory requirements.
In the commercial realm, CaixaBank continues to cement its leadership within the Spanish banking and insurance market.
In Portugal, business and profits at BPI have been increasingly sharply following its acquisition by CaixaBank in early 2017.
Meanwhile, CaixaBank remains firmly committed to new innovations and functionalities so as to continue leading the way in digitalisation and anticipating new technological challenges.
For 2018, the last year of the plan, the bank will continue fostering diversification of its sources of income, contain its cost base and reduce exposure to non-performing assets in a bid to achieve a ROTE (return on tangible equity) of between 9% and 11%. Against the current backdrop, another key priority is to continue raising awareness within the organisation of conduct risk while strengthening the culture of internal control and compliance. The bank will also continue to provide added-value advice to all of its customers so as to ensure unrivalled levels of service and trust.
CaixaBank will start the planning process for its new Strategic Plan in 2018. This Plan will define its priorities for action in response to the challenges and opportunities of the coming three years.
New customer profiles and expectations
Greater need for advisory services
Low confidence in the banking system
Exposure to conduct risks
See key strategy 1Recovery in the economy and the real estate market
Low interest rates
Weak business volumes
Competitive pressure
See key strategy 2Development of the Banking Union
New regulatory requirements
Penalisation of complexity
The need to reduce unproductive assets
See key strategy 3New technology and innovations
The increasing value of information
Confidentiality and security
Digital competitors
See key strategy 4Training in advice
Attracting and developing talent
Meritocratic culture
Diversity
See key strategy 5