The banks of the Spanish Banking Association (AEB) are among the most profitable and efficient in the European Union in 2023, enabling them to guarantee their support to families and businesses through financing, and to continue driving economic and social progress with their activities.
In a context of moderate economic growth, a return to normal central bank monetary policy, and persistent geopolitical tensions, the entities achieved a return on equity (ROE) of 12.6%, the result of a commercial business model based on deposit collection and credit granting.
Profitability is the first line of defense for the soundness and sustainability of results and strengthens the banks’ ability to contribute to the welfare state through tax payments, to the economy’s progress through financing, and to dividend distribution to over 5 million predominantly retail shareholders.
The attributed profit of 23 billion euros (+20.3%) in 2023 is a consequence of improved interest margins and efficiency, alongside increased provisioning efforts.
