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Cajamar posts 5.1% rise in FY'17 profit

Grupo Cooperativo Cajamar reported full-year 2017 net profit of about €80.1 million, up 5.1% from €76.1 million a year earlier.

Net interest income amounted to €548.1 million, down 1.7% from nearly €557.7 million in 2016. Net commissions and exchange differences rose 1.9% over the same period to €269.2 million from €264.2 million.

The group booked €259.7 million in losses from impairment of assets in 2017, down from €64.6 million a year earlier. Provisions and other losses also narrowed to €5.6 million from €256.7 million on an annual basis.

The nonperforming-loan ratio at the end of 2017 stood at 10.82%, down from 13.44% a year earlier.

Cajamar's fully loaded common equity Tier 1 ratio stood at 10.90% as of Dec. 31, 2017, while its leverage ratio stood at 6.29%. The phased-in CET1 ratio stood at 11.19% and the leverage ratio at 6.44%.