Fernando Gil de Santivañes d´Ornellas's questions to CaixaBank SA (CAIXY) leadership • Q1 2025
Question
Fernando Gil de Santivañes d´Ornellas from Intesa Sanpaolo asked for an update on the MUFACE situation and its potential impact on SegurCaixa Adeslas, as well as any anticipated negative effects from a recent blackout.
Answer
Gonzalo Gortázar Rotaeche (executive) stated that the recent blackout would have no material impact on CaixaBank's results. Regarding MUFACE, he described the new agreement as very positive news for its affiliate, SegurCaixa Adeslas, as it removes a loss-making contract. He estimated this could translate to a positive impact of roughly €90 million in pre-tax profit annually for Adeslas, of which half would accrue to CaixaBank.