MADRID, March 30 (Reuters) - The chief executive officer
of Spain's Unicaja on Thursday reaffirmed the bank's
forecast of a 15% to 20% growth in lending income in 2023
despite the uncertainty triggered by the global banking turmoil.
"Despite the uncertainties, we expect to meet the
expectations announced (in January) to the market, based on the
stability of our core businesses, the repricing of the balance
sheet at the new interest rates ...," Unicaja's CEO Manuel
Menendez told shareholders during the bank's annual meeting.
"As you know, our expectation is that net interest
income will increase by 15-20% in 2023, assuming a 12-month
euribor of 3% for the year," Menendez said.
The upbeat outlook for lending income was first announced
end of January.
Banks in Europe, especially retail lenders in Spain are
benefiting from higher interest rates, but recent turmoil in the
market were putting in doubt the future path of interest rate
hikes.
The ECB has raised rates by a combined 350 basis points
since July but offered no guidance for its next meeting on May
4, arguing that recent financial market tension could upend any
plan.
On Thursday, shares in Unicaja were up 1.8% at 1135 GMT
after losing some 15% since the beginning of the market tensions
on March 9.
(Reporting by Jesús Aguado; editing by Emma Pinedo and Inti
Landauro)
Messaging: Reuters Messaging:
jesus.aguado.reuters.com@reuters.net))
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