Abanca reports increased housing financing and mixed financial results

Abanca has emerged as a leader in developer financing during the first half of the year, increasing its investment by 18.3% to 685 million euros. This growth aligns with a broader trend in the Spanish banking sector to address a housing deficit estimated at one million units through increased construction financing.

Despite this growth in specific sectors, Abanca reported a 13.6% decrease in net profits for the first nine months of 2026, totaling 579 million euros. The bank attributed this decline to a higher effective tax rate due to reduced use of tax credits, even though pre-tax earnings rose by 2.4%.

Other financial metrics for the period showed growth, including a 6.4% increase in business volume to 142 billion euros and a 3.7% rise in gross margin to 1.668 billion euros. The bank also added 116,000 new customers and maintained a CET1 ratio of 13.3%.