Caixabank and Sabadell take advantage of the rise in Euribor and lead the rise of the Stock Exchange in 2022

Caixabank and Sabadell take advantage of the rise in Euribor and lead the rise of the Stock Exchange in 2022

Caixabank and Sabadell took advantage of the historic return of the Euribor in the year that is ending and were the two major stock market stocks that led the rises. Increases of around 60% which contrast with the fall suffered by the Ibex 35 as a whole. The Spanish selective plunged 5.5%.

According to data compiled by THE OBJECTIVE, Caixabank made progress during the 59.8%, placing itself at the forefront of progress. The Catalan entity benefited from the rise in interest rates operated by the ECB and the consequent rise in the Euribor and will start 2023 at 3.6 euros per share. Investors have rewarded the bank, since it has the largest volume of mortgage loans in its portfolio and, therefore, will be the financial group that will increase its income the most due to the increase in the maturities of variable rate loans.

Despite this assessment, experts still leave room for Caixabank to continue this trend in the new academic year and they give an upside potential of between 20 and 35% given the outlook that the Euribor will not stop. The indicator should reach 4%, a key factor for the entity to further fatten its margins.

Like Caixabank, Sabadell also took advantage of the new interest rate environment and increased its share price by 56%. With him, This is the second year that he has been placed at the top of the table.. In 2021, it was also the second most bullish company in the market, with an increase of 68%.

After this behavior on the stock market, Sabadell completely turns the page on the crisis he suffered in 2020 and this led him to open merger negotiations with BBVA. Conversations which did not succeed and which prompted the Catalan bank to launch a drastic adjustment plan to get back on track.