Major Spanish banks earned 17 billion in the first half of the year, an increase of 11.7%.

The major Ibex 35 entities earned a total of €17.086 billion between January and June, representing an 11.7% increase compared to the profits for the same period in 2024, according to accounts submitted by the entities and consulted by Europa Press.

Despite the cuts in official rates, which have impacted the net interest margins of the major Spanish banking groups ( Santander, BBVA, CaixaBank, Sabadell, Bankinter and Unicaja ), the accounts up to June have proven resilient thanks to the dynamism of commercial activity and the commitment to businesses that generate higher commissions, such as the marketing of insurance or pension funds.

In the stagnant second quarter, however, banks collectively cut their profits by 2.35%, to €8.598 billion , compared to the same period last year.

By entity, Banco Santander recorded net attributable profit of €6.833 billion between January and June, a 12.8% increase compared to the same period last year. Considering only the second quarter, profit reached €14.503 billion, a 0.9% increase.

BBVA earned €5.447 billion in the first half of the year , up 9.1% compared to the same period in 2024, thanks to strong activity in Spain and Mexico. However, in the second quarter, net profit was €2.749 billion, down 1.6% compared to the same period in 2024 and in current euros.

CaixaBank closed the period with a net profit of €2.951 billion , 10.3% more than the same period in 2024, due to strong business growth and financial strength. In the second quarter, however, it recorded a drop in profit of 11.3% to €1.482 billion.

Banco Sabadell, for its part, posted a net profit of €975 million , 23.3% more than the same period last year, while its earnings increased by 0.6% between March and June, reaching €486 million.

Bankinter achieved a net profit of €541 million , an increase of 14.4%, although in the second quarter alone its earnings fell by 0.4% to €271 million.

Finally, Unicaja closed the first half of the year with net attributable profit of €338 million , representing a 14.6% increase compared to the same period last year. However, in the stagnant second quarter, profit fell by 2.7% to €179 million.