Ibercaja Banco, S.A., is a Spanish financial institution with roots dating back to 1876. Its origins lie in "La Real y Excma. Sociedad Económica Aragonesa del País" which founded the "Caja de Ahorros y Monte de Piedad de Zaragoza".

Ibercaja Banco

The bank started its activity as a credit institution on May 28, 1876.

History and Development

Ibercaja's history includes several key milestones:

1876: The Savings Bank was established.
Early Expansion: The bank expanded in Aragon, La Rioja, and Guadalajara, opening 368 branches and changing its name to "Caja de Ahorros y Monte de Piedad de Zaragoza, Aragón y Rioja".
Further Expansion: The company expanded into Madrid and along the Mediterranean Basin.
1988: Financial Group founded.
1991: Acquired Caixa Rural de Catalunya (Lérida).
2001: Acquired a national dimension.
2011: Ibercaja Banco was created as a new bank.
2014: The Savings Bank became a Banking Foundation. Banco Grupo Caja 3 was fully integrated into Ibercaja Banco.

Operations

Ibercaja Banco Group's primary focus is retail banking, with most of its business conducted in Spain. Ibercaja has its own financial group that includes investment funds, pension plans, savings and risk insurance, leasing and renting. It has 2.5 million customers throughout the country, 893 branches, and 4,914 employees. The total volume of activity amounts to 97,909 million euros.

Financial Performance

Ibercaja has demonstrated its ability to withstand sector problems. In 2022, the Bank achieved a profit of 202 million euros, 34% more than the previous year. This is equivalent to a Return on Tangible Equity (ROTE) of 7.6%, based entirely on recurring activity. The Bank preserved the financial strength of its balance sheet, with a CET 1 fully loaded capital ratio of 12.4%, a low Non-Performing Loan (NPL) ratio of 1.6%, and an NPL coverage of 90%. In 2023, Ibercaja Banco reported a profit of 304,376 thousand euros.

Commitment to Sustainability

Ibercaja has a commitment to sustainability and integrates it into its financial activity. It offers its clients sustainable products and services and assumes the commitment to be carbon neutral by 2050. The bank also incorporates environmental, social, and governance factors in risk management.

Values

Ibercaja is guided by a founding DNA to work for the development of the territory and its people. The bank reaffirmed its corporate purpose to help people build their life story because it will be our story. Ibercaja demonstrates its social sensitivity and is committed to the well-being of its employees.