CaixaBank Shares Slide as Guidance Disappoints
By Adria Calatayud
CaixaBank shares fell after the Spanish bank left its full-year guidance unchanged alongside its second-quarter results, a move analysts said would disappoint investors.
Shares in CaixaBank were down 6.4% in European morning trading Wednesday, on track for its largest one-day drop in more than a year.
The lender posted net profit of 1.63 billion euros for the second quarter, up 10% on the year-earlier period. The result was ahead of analysts' estimates of 1.56 billion euros, according to consensus estimates provided by the bank.
Revenue rose 4.5% to 4.21 billion euros, driven by increases in both net interest income--the difference between what banks collect on loans minus the interest they pay out on deposits--and net fee and commission income.
CaixaBank reiterated its full-year guidance, which includes expectations of net interest income of more than 11 billion euros and a 5% increase in revenue from services. The consensus among analysts forecasts CaixaBank's full-year net interest income to come in at 11.33 billion euros.
Analysts said the absence of a guidance increase would come as a disappointment for investors, given that many were expecting an upgrade.
"No guidance upgrade at this point is clearly a negative surprise, and hard to make sense of," analysts at Jefferies wrote in a note to clients.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 29, 2026 05:54 ET (09:54 GMT)
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