Pablo de la Torre Cuevas's questions to CaixaBank SA (CAIXY) leadership • Q1 2025
Question
Pablo de la Torre Cuevas of RBC Capital Markets inquired about lending exposure to tariff-sensitive sectors, the potential impact of a negative macro scenario on cost of risk guidance, and if a new buyback announcement is contingent on clarity around the bank tax.
Answer
Gonzalo Gortázar Rotaeche (executive) stated that the timing of a new buyback is not related to the bank tax issue. He also affirmed the bank is very comfortable with its cost of risk guidance even in a worse macro scenario. Javier Pano Riera (executive) added that in potentially exposed sectors, CaixaBank's exposures are to industry champions and investment-grade names, so no material impact is expected.