Current news

• Banca March obtained an attributable profit of €242 million in 2025, 1.3% higher than in 2024. These figures only include the contribution of the 51% share in Inversis, since the sale of the remaining 49% to Euroclear was completed in March 2025. Consolidated profit on a like-for-like basis (with 100% of Inversis) was €254 million, 6.2% higher than in 2024. Gross margin grew by 3% and operating margin by 2%.
• The strength of Banca March's business in 2025 was reflected in a 13% increase in service revenues, which more than compensated for a 16% decline in the net interest margin. This was due to the fall in interest rates (Euribor) during the financial year, which affected the return on the substantial cash position held by Banca March, in line with the policy of high solvency, prudence and long-term thinking that characterises the bank’s business model. This is also reflected in the liquidity ratios—LCR (245%) and DTL (187%)—and coverage for doubtful risks (74%), which exceed the respective sector averages: 182%, 111% and 70%, respectively.
• The results reflect the momentum of the specialised Private Banking and Corporate Banking businesses, which recorded double-digit growth in the number of clients: 14% and 10%, respectively. The bank's assets increased by 4%; lending increased 10%; assets under management rose 11%; and assets under custody grew 40%.
• The number of clients with assets over €500,000—comprising the Private Banking and Wealth Management divisions, the bank’s strategic core—increased by 14%. The combined business volume of these areas grew by 15%, reaching €35.3 billion at the end of 2025.
• In Personal Banking, the number of clients increased by 16% in 2025, assets under management by 15% and business volume by 12%. This segment is consolidating itself as a platform for attracting digital customers: 60% of new Personal Banking customers last year came from the Avantio digital platform, reflecting the acceptance of this proposal among a type of customer seeking a remote Personal Banking model—100% of customers are already managed from a specialised remote centre—with a distinguished product offering.
• Corporate Banking business volume increased by 14%, reflecting the bank’s consolidation as a specialist in corporate advisory, with a particular focus on family-owned businesses.
• In the Balearic Islands, where it all started for Banca March (it was founded in Palma in 1926), the dynamism of the business reflects a deep understanding of this market: In 2025, lending grew by 10%, managed assets by 16%, and bank resources by 5%.
• Between 2023 and 2025, total expenditure and investment in technology amounted to €259 million, and in 2025 it reached €107 million – a 27% increase on the previous year – as a result of the organisation’s strategic commitment to accelerating its developments in technology and cybersecurity. The 2025 figure represents 13% of the Institution’s gross margin, double the sector average (7%, according to Accenture data). 
• The bulk of the investment in technology corresponds to cutting-edge developments intended for the bank's future Luxembourg subsidiary (currently a branch), which have been executed from Banca March's highly specialised centre in Palma. This platform will deliver an optimal client experience, as it provides a 360° view of financial positions and global operational capabilities regardless of jurisdiction.
• Banca March maintains its leadership in solvency, with the highest CET1 ratio among Spanish banks (26.32%, compared to the average of 13.09%) and a long-term deposit rating upgraded by Moody’s last October to A1, the highest rating in Spain, with a stable outlook.
• Optimal risk management continues to be reflected in one of the lowest rates in the sector: 1.18%, compared to an average of 2.71% in the sector (data as of December 2025, according to the Bank of Spain). 

José Luis Acea, CEO of Banca March, stated: “In 2026 Banca March will celebrate its centenary after having undergone a period of transformation in which it has laid the foundations to usher in a new era, always faithful to its business model, based on prudent advice, a long-term vision and a relationship with customers, employees and shareholders inspired by Joint Growth. Last year we closed out the final year of our 2023-2025 Three-Year Plan with double-digit growth in business volumes and in the number of customers, which was reflected in a double-digit increase in service revenues as well. This allowed us to accelerate, in the era of digital transformation, the most intensive investment in people and technology in the bank's history, which positions us to be the leaders of this change. Added to the commitments of digital transformation and the challenges in cybersecurity in 2025 was the technological development of a cutting-edge platform, the only one of its type in the sector, which will support our subsidiary in Luxembourg and allow us to offer customers a global view of their financial positions, regardless of their jurisdiction."

The new challenges: technological revolution and international platform

Banca March has embraced the challenge of digital transformation with a strategic vision in which technology is only becoming more and more important in the financial sector. Proof of this is the increased volume of spending and investment in technology and digitalisation to address the challenges in the area of cybersecurity and, especially in 2025, the developments intended for the future Luxembourg subsidiary. This will be underpinned by cutting-edge technology deployed from the Banca March specialist centre in Palma, with the aim of delivering an optimal customer experience that will provide a 360° view of financial positions and global operational capabilities, regardless of jurisdiction.

Between 2023 and 2025, total expenditure and investment in technology amounted to €259 million, and in 2025 it reached €107 million – a 27% increase on the previous year. The 2025 figure represents 13% of the Institution’s gross margin, double the sector average (7%, according to Accenture data).

Banca March is now a fully omnichannel bank, allowing clients to choose how they interact with the bank. Eight out of ten clients in Banca March’s specialised areas (Private Banking, Corporate Banking, Wealth Management, and Large Corporates) regularly use remote channels for the majority of their operations. In addition, March Bróker’s revenues grew by 30% in 2025. Banca March is consolidating its leadership in advisory technology, with Avantio serving as the main driver to provide high-quality service to digitally-savvy clients comfortable with technological advances.

Dynamism in Personal Banking, a lever for attracting digital customers

Following the momentum of previous years, Personal Banking also stood out, with a 16% increase in client numbers and a 12% rise in business volume, continuing to act as a driver of the entity’s digitalisation process: 60% of new Personal Banking customers last year came via the Avantio digital branch. The strong growth of this segment reflects clients’ strong acceptance of a distinctive remote personal banking model—currently, 100% of business is conducted remotely—and its product offering, which combines competitive deposits with attractive advisory products, as evidenced by a 15% increase in assets under management in the segment.

Co-investment with clients: an exclusive offer from Banca March

Co-investment is a hallmark of Banca March, and the institution is a pioneer in its commitment to alternative assets, with over 20 years of experience providing investment strategies shared with its clients. Banca March’s co-investment model is unique and non-replicable in the market, allowing clients to invest in the same products as the bank, aligning with their interests as far as possible.

In the case of illiquid co-investment, Banca March covers a variety of illiquid asset types—venture capital, private equity, private debt, real estate, and infrastructure—carefully selected by the bank to offer an investment alternative in growth sectors. This serves as an excellent complement that avoids volatility and economic uncertainty. In this way, Banca March provides its clients with the opportunity to invest in strategies that would otherwise only be accessible to large investors.

Since 2008, Grupo Banca March has committed over €4.2 billion in illiquid assets together with its clients, achieving a twofold return multiple on projects in the real economy. During this period, more than 4,100 co-investors participated alongside the bank in various investments.

Delegated solutions: active management as a key differentiator

Expert advisory is one of the cornerstones of Banca March’s specialisation. Delegated solutions enable the bank to implement the most strategic and tactical vision of the Markets Committee in an agile, active, and diversified manner. The delegated solutions adhere to a management philosophy based on four pillars: prudence, aiming to protect capital over the long term; diversification; active management; and long-term planning. Assets in Discretionary Portfolio Management reached €2.56 billion, representing 13% growth over the year.

Corporate advisory specialist, with a focus on family-owned businesses

Banca March continues to consolidate its position as a specialist in corporate advisory, with a particular focus on family-owned businesses. Business Banking business volume increased by 14% in 2025. In Corporate Banking, within the capital markets activity, the bank maintains its leadership in the commercial paper segment, with an outstanding balance of MARF commercial paper distributed by Banca March of €2.5 billion at year-end 2025, equivalent to 45% of the total market. Banca March ended the year as the benchmark in this market, participating in 56 of the 82 MARF commercial paper programmes. Considering other short-term debt markets, the bank ranks first among registered advisors/arrangers and distributors of short-term debt for Spanish corporate issuers, having participated in a total of 71 programmes (56 MARF commercial paper and 15 ECP in Ireland, AIAF, and STEP).

Sustained growth with maximum solvency

Banca March’s capacity to generate its own resources is reflected in its solvency ratio, the highest among Spanish banks: as of 31 December 2025, the CET1 ratio stood at 26.32%, compared with an average of 13.09% for the main banks in the sector. In October 2025, the credit rating agency Moody’s upgraded Banca March’s long-term deposit rating to A1 with a “stable” outlook, keeping it among the highest-rated institutions in the Spanish financial system, ahead of the Kingdom of Spain (currently A3).According to Moody’s, the rating upgrade “underscores the bank’s exceptionally high capital ratios and strong asset quality”. The rating agency also noted that it “reflects improved profitability and robust liquidity, supported by a broad deposit base and liquid assets”.

Banca March maintains one of the lowest non-performing loan ratios in the Spanish financial system without resorting to the massive sale of NPL portfolios at a discount: 1.18%, compared to an average of 2.71% in the sector (data as of December 2025, according to the Bank of Spain). The liquidity ratios—LCR (245%) and DTL (187%)—and coverage for doubtful risks (74%) also exceed the respective sector averages: 182%, 111% and 70%, respectively.

Maximum client satisfaction: the most trusted bank

Once again, Banca March establishes itself as a benchmark for service quality and client satisfaction in the Spanish financial sector. According to the results of the 2025 Customer Satisfaction Benchmark in the financial sector, compiled by the independent consultancy Stiga CX, the Institution achieved historic results, placing among the top three in virtually all measured attributes.

For the third consecutive year, Banca March is the bank most trusted by its clients, raising its score to an 8.74 out of 10 – more than a point above the sector average. In addition, the Institution reinforces its leadership in strength and solvency, maintaining first place since 2022, with a 2025 score of 9.04 compared with a sector average of 8.13.

In this latest edition, the Institution extends its leadership, reaching first place in a total of six categories. Banca March retains its top position in branch satisfaction with a score of 9, nearly a full point above the sector average. In incident resolution, it improves its score to 6.79 compared to the sector's 4.57. For the first time this year, it also ranks first in ATMs—7.83 versus an average of 7.53—and, most notably, in repurchase. This latter indicator, which measures clients’ intention to purchase the bank’s products and services again, achieves a score of 7.51, compared with a sector average of 6.82, demonstrating the extraordinary loyalty of Banca March clients.

International recognition as a great place to work

Banca March has established itself as the leading training school for private banking and corporate advisory managers and is recognised as one of the best places to work in Spain and Europe, with a talent management model based on specialisation and training, and an investment in staff development that is nearly three times the sector average.

As with its focus on customer service quality, Banca March subjects its People model to audits by the leading international consultancies specialising in human resources management. Between 2021 and 2024, the bank was the only Spanish bank to feature in the ranking of the best companies to work for in Spain and Europe, compiled by the independent consultancy Great Place To Work®. In 2025, Banca March was again ranked the second-best company to work for in Spain in the category of companies with more than 1,000 employees, and the only bank included in the Best Workplaces Spain 2025 ranking. The consultancy issues its certifications based on questionnaires conducted among the bank’s professionals and on an audit that evaluates the people management practices and policies in place. In line with this study, 9 out of 10 Banca March employees say they feel proud of the company’s achievements and express their desire to work there for a long time. The audit carried out by the independent consultancy concludes that “Banca March’s corporate culture becomes a genuine competitive advantage that drives business results”.

In addition, Banca March has ranked on the podium of the “100 Best Companies to Work for in Spain” by Actualidad Económica for four consecutive years,

In the first months of 2026, Banca March obtained the Top Employer certification for the eigth consecutive year and the Great Place To Work® certification for the seventh consecutive year.

At Banca March, 16% of staff now come from its Talent Programme, launched in 2013. The bank recruits a significant portion of its professionals directly from university to develop a unique model where the client is always central, with a long-term career plan aligned with its corporate philosophy. Through its Talent Programme, Banca March seeks to nurture the development of its professionals within its corporate culture and areas of specialisation, whilst fostering a connection with its core values.

INCOME STATEMENT	31/12/2025	31/12/2024	Change
			Amount*	%
Net interest income	325	386,9	-61,9	16,0%
Gross income	606,9	591,4	15,6	2,6%
Operating income	306,9	302,0	4,9	1,6%
Results of ordinary activities	225,2	239,2	-14,0	-5,8%
Results of discontinued operations (*)	28,8	26,1	2,7	10,3%
Attributable profit	242,2	239,2	3,0	1,3%

(*) Result contributed by the consolidation of 51% of Banco Inversis.

BALANCE	31/12/2025	31/12/2024	Change
			Amount*	%
Loans and advances	8.231	7.537	694	9,2%
Customer deposits	14.522	13.980	542	3,9%
Equity	2.728,4	2.524,4	204,0	8,1%
Total assets	23.131,0	21.886,60	1.244,4	5,7%

*Amount in millions €

MAIN RATIOS	31/12/2025	31/12/2024
NPL ratio	1,18%	1,40%
NPL coverage	73,80%	65,57%
Capital adequacy ratio	26,32%	22,21%
Tier 1	26,32%	22,21%