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Banca March - Crecemos con valores, crecemos juntosNews

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At Banca March, we want to keep you always informed, and this section gives you the opportunity to find out whatever you want to know about.

11/17/2014

Third Quarter 2014 Results

Banca March Group net profits stood at 110.6 million euros, 108.8% up on the same period in 2013.

  • The soundness of its unique business model, based on the creation of long-term value, is reflected in its Tier-1 solvency ratio - 26% in September 2014, the highest in the Spanish financial system.
  • Banca March has revamped its corporate image to ensure growth and consolidate its position as a benchmark for private banking in Spain.

Banca March Group's allocated net profits rose to €110.6 million during the first nine months of 2014, 108.8% up on the equivalent period last year. Financial margins were down 5.8% while commissions increased 40.8%, mainly stemming from investment fund and SICAV management, as well as insurance and payment method distribution. The improved results were also due in part to profits from the sale of 5% of ACS in the first half of the year by Corporación Financiera Alba, a company in which Banca March has a 28.9% holding. The result from operating activities, which does not take into account gains from selling affiliates, rose to €172.5 million, up 2.3%.

Particularly striking was the performance of Private Banking. The number of customers with over €300,000 of business in Banca March was up 29.3% in comparison with the figure from the first nine months last year, with business volume rising by 24.4%. Banca March is looking to consolidate its position as Spain's foremost private bank, with a focus on responsible advice and a model which ensures the creation of long-term investment value and sustained profitability, far-removed from the short-term speculative pressure which characterises the markets. To this end the bank offers a unique range of products which allow customers to invest in the same financial instruments as its own shareholders do, with a view to ensuring common growth. This alignment of interests, with its focus on shared growth, reflects the bank's new corporate image, a further step in its expansion strategy.

Customer bank funds increased 6.9% to September. Off-balance sheet funds were up 76.2%, with assets managed through SICAVs increasing to 2.409 billion euros, making the Group's fund manager, March Gestión, the third largest in the Spanish market in terms of business volume in this area. Worthy of special mention is Torrenova, the largest SICAV in Spain, with over 1 billion euros of assets managed. Founded over twenty years ago as an investment instrument for bank shareholders, it currently has 4,386 bank customers, a further reflection of the co-investment philosophy which is exclusive to Banca March. This is a different kind of SICAV, one which can be accessed by anybody holding a minimum investment of one share.

The soundness of the Banca March business model is confirmed by its Tier-1 solvency ratio, 26% in September 2014, the highest in the Spanish financial system. Defaults stood at 5.2%, further widening the gap with the sector (13.2% in August), while maintaining the rate of provisions for default risk coverage at 77.2% compared to the sector average of 59.2% in August.

BALANCE SHEET DETAILS 30/09/2014 30/09/2013 Variation
Amount* %
Managed funds 14,332.4 11,589.4 2,743.0 23.7%
Loans to customers 7,032.4 7,323.4 -291.0 -4.0%
Net Equity 3,918.3 3,520.7 397.6 11.3%
Total assets 16,046.4 14,378.7 1,667.7 11.6%

*Amount in € millions

ACCOUNT DETAILS PROFIT AND LOSS 30/09/2014 30/09/2013 Variation
Amount* %
Interest margin 121.5 129.0 -7.5 -5.8%
Commission 108.1 76.7 31.4 40.8%
Allocated result 110.6 53.0 57.6 108.8%

*Amount in € millions

Key ratios

Default 30/09/2014 30/09/2013
Non-performing loan ratio 5.2% 5.7%
Coverage ratio 77.2% 73.5%
Capital 30/09/2014
Tier 1 26%

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