Alvarez & Marsal (A&M) is delighted to publish the twentieth edition of Spanish Banking Pulse (“The Pulse”) Q4 ’24. In this edition, we share results from our research examining 10 biggest Spanish banks (“top 10”) with regard to their activities within Spain and highlight key performance indicators of the Spanish banking industry.

The Pulse aims to help banking executives and board members stay current on industry trends. As trending topics, we include detailed analysis of the financial margin from the perspective of banks’ capital components

All the data used in this report has been obtained from publicly available sources. The methodology for all calculations is homogeneous and discussed in the glossary.

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Key trends:

• Profitability (ROE) of the banking sector at the end of the year stands at 16.56%, which is 4% higher than the previous year
• Industry solvency has increased ~10 bps, with CET1 fully loaded ratio of 12.89%
• Industry efficiency (Cost-to-Income ratio) has improved from 42.47% in 2023 to 38.86% in 2024
• Non-performing loans (NPLs) and cost of risk (CoR) improved 30 bps and 5 bps, respectively
• Alvarez & Marsal's ranking for large-sized entities is led by BBVA, while that for medium-sized banks is led by Kutxabank