The bank posted a net profit of 1.63 billion euros for the quarter, outperforming the 1.56 billion euros anticipated by analysts. Revenue climbed 4.5% to 4.21 billion euros, bolstered by gains in both net interest income and fee-based services. However, the decision to reiterate existing targets—specifically, net interest income projections exceeding 11 billion euros—clashed with market consensus, which had priced in an upgrade toward 11.33 billion euros.

Analysts at Jefferies characterized the lack of upward revision as a negative surprise, noting that the company’s conservative stance remains difficult to reconcile with current performance. By failing to adjust expectations, CaixaBank has effectively signaled a plateau that shareholders, who had anticipated more aggressive growth forecasts, were not prepared to accept.