By Helena SmolakSpain's CaixaBank raised its 2024 profitability target after fourth-quarter net profit rose on higher net interest income. The lender also raised its 2022-24 investor returns target to around EUR12 billion, previously guided at EUR9 billion. For the fourth quarter, the bank's net profit grew 76% from the same period a year earlier to 1.16 billion euros ($1.26 billion). Net interest income stood at EUR2.75 billion, up 40% from a year earlier, but slightly missing the EUR2.76 billion expected by analysts. It plans to launch a new share buyback program in the first half of 2024, CaixaBank said.

Source: Wall Street Journal February 02, 2024 12:49 UTC