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2022 results

14 March 2023 Category: Results

Banca March posts earnings of €161.3 million for 2022, up 39.5%, and completes its Strategic Plan  with robust growth in private banking and corporate advisory businesses.

  • The bank continues to boast the highest CET1 capital adequacy ratio (17.66%) in the Spanish banking industry and its LCR (284.81%), DTL (152.9%) and NPL coverage (73.37%) ratios are among the strongest in the sector.
  • Banca March continues to enjoy the lowest NPL ratio in the Spanish financial sector, even without having resorted to large-scale discounted NPL portfolio sales: 1.23%, versus a sector average of 3.54% (latest Bank of Spain data).
  • Banca March's consolidated profit was up 39.5% to €161.3 million, on the back of a 10.3% increase in gross income and a 25.0% rise in operating income.
  • The business volume in the specialist Private Banking and Wealth Management areas stood at a total of €23.44 billion at the end of December, up 18.2% versus December 2021. Customer numbers were up by 14.2%, assets under management by 15.8% and lending by 26.4%.
  • In the Balearic Islands, the Retail and Private Banking area, which accounts for the majority of the business in the region, posted a 4.2% increase in business volume; the Private Banking area put in a particularly impressive performance, with customer numbers up 15%..
  • The Business Banking area continues to strengthen its leadership position in advisory services for medium-sized enterprises and family businesses. Assets under management grew by 22.1% and customer numbers were up by 7.9%.
  • In the Debt Capital Market (DCM), which falls under the Corporate Banking Area, Banca March remains at the top of the ranking of registered arrangers and dealers on short-term debt programmes for Spanish corporate issuers, participating in a total of 56 programmes in 2022 (MARF and ECP issuances on the Irish Stock Exchange). At the end of 2022, the bank had placed short-term MARF and ECP commercial paper worth a total of over €5.80 billion, up 4.24% year on year. In terms of Spain's MARF, Banca March was the arranger on 50 out of the 90 programmes currently trading on the market; in terms of volume, 50% of the outstanding market balance (€3.55 billion) was distributed by the bank.
  • Banca March has become the first bank to digitalise its Private Banking model for the next generation of customers, who want high-tech investment management services and greater autonomy. In June, the bank launched Avantio, the most comprehensive investment platform on the market, offering optimal omnichannel services whilst delivering the tailored, expert advice which is the hallmark of Banca March.
  • According to the financial sector customer satisfaction benchmarking prepared by STIGA and covering the main Spanish banks, in 2022 Banca March was the leading Spanish financial institution by customer scores for strength and solvency, scoring 8.96 out of 10. Banca March was also the highest-ranked bank for in-branch customer service for the fifth year running, scoring 8.83 and outperforming the sector average of 7.70 by more than one percentage point.
  • Banca March's people management model, which is underpinned by training and specialisation, has positioned the bank as one of the best places to work and the best training facility for private banking and corporate advisory managers in the Spanish banking industry. The consultancy Top Employers has recognised Banca March as a Top Employer five times now and GPTW has certified the bank as a Great Place to Work for four years running, as well as including it as the only Spanish bank in its rankings of the best places to work in Spain and Europe in 2021 and 2022.

Banca March's consolidated profit was up 39.5% to €161.3 million, on the back of a 10.3% increase in gross income and a 25.0% rise in operating income.

The bank continues to boast the highest CET1 capital adequacy ratio (17.66%) in the Spanish banking industry and its LCR (284.81%), DTL (152.9%) and NPL coverage (73.37%) ratios are among the strongest in the sector.

Banca March continues to boast the lowest NPL ratio in the Spanish financial sector, even without having resorted to large-scale discounted portfolio sales: 1.23% at year-end 2022 versus a sector average of 3.54%, according to the latest data from the Bank of Spain.

Banca March's profit from banking activity stood at €102 million, up 38.25% versus 2021, with a 13% increase in both gross income and operating income.

The business volume in the specialist Private Banking and Wealth Management areas stood at a total of €23.44 billion at the end of December, up 18.2% versus December 2021. Customer numbers were up by 14.2%, assets under management by 15.8% and lending by 26.4%..

In the Balearic Islands, the Retail and Private Banking area, which accounts for the majority of the business in the region, posted a 4.2% increase in business volume; the Private Banking area put in a particularly impressive performance, with customer numbers up 15%.

In August 2021, the rating agency Moody's ratified its A3 rating for Banca March's long-term deposits with a stable outlook, one of the strongest ratings in the Spanish financial system, ahead of the Spanish government, which is currently rated Baa1.

Banca March CEO José Luis Acea said: “For more than 10 years, Banca March's unparalleled business model and strategy - both of which are underpinned by robust capital adequacy, liquidity and NPL ratios, prudent risk management and a long-term approach to customer relations - have delivered strong capacity for growth, offering quality services even against the most challenging, unexpectedly complex backdrops. Banca March is stronger than ever. It has just completed a 2020-2022 Strategic Plan which was heavily impacted by Covid-19 and, over the last year, by the invasion of Ukraine and the energy crisis, which triggered an inflationary process that has completely changed the playing field in the markets. Despite all that, Banca March has achieved the goals it laid out for the three-year period, doubling down on its strategy of specialising in private banking and corporate advisory which remaining committed to its business model and its philosophy of Shared Growth for customers, shareholders, employees and society as a whole.”

BANCA MARCH - CONSOLIDATED GROUPE

INCOME STATEMENT 31/12/2022 31/12/2021 Change
Amount* %
Net interest income 187,2 143,9 43,3 30,1%
Gross income 521,5 448,4 73,1 16,3%
Operating income 175,0 132,2 42,8 32,4%
Attributable profit 161,3 115,6 45,7 39,5%

*IN € M

BALANCE SHEET 31/12/2022 31/12/2021 Change
Amount* %
Loans and advances 8.496,3  8.394,3 102,0 1,2%
Total deposits 13.715,8 12.574,6 1.141,2 9,1%
Customer deposits 10.981,0 9.686,6 1.294,4 13,4%
Equity 2.009,91 2.049,3 -39,4 -1,9%
Total assets 20.229,9 18.679,5 1.550,4 8,3%

*IN €M - 1Decrease due to the integration of BNPP's business 

Key ratios 31/12/2022 31/12/2021
NPL ratio 1,23% 1,90%
NPL coverage ratio 73,37% 58,19%
Capital adequacy ratio 17,66% 18,54%
Tier 1 17,66% 18,54%

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