Abanca Earns $579.1 Million Until September, 13.6% Less Due to Lower Use of Tax Credits
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The highest tax burden reduces the net result by 13.6%, although the recurring business advances and totals 116,000 new customers in Spain and Portugal in nine months
The profits after taxes of Abanca have decreased by 13.6% to 579 million euros during the first nine months of 2026 compared to the same period of the previous year. The Galician bank blames this decrease to the increase of the effective tax rate caused by the "less use of tax credits", since its ... Continue reading "Abanca reduces its net profits by 13.6% to 579 million euros in what we carry from 2026"
Abanca Portugal recorded a result before taxes of EUR 99 million in the first nine months of 2026, which reflected an increase of 19.5% compared to the same period of the previous year. The improvement was accompanied by a strong increase in efficiency, with operating costs falling by 8.3%.
The institution fits an increase in the effective tax rate caused by the lower use of tax credits (from 7% to 28%)
In the first nine months of 2026 ABANCA obtained a profit before taxes of 764.5 million euros, 2.4% more in annual terms. The profit after taxes was 579.1 million, 13.6% less than in the same period of the previous year, due to the increase of the effective tax rate caused by the lower use of tax credits. The ROTE profitability was 12.2% and the profitability on CET 1 was 14.8%, with a high slack on the cost of the capital."The solidity of its f…
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