1) Commercial Performance & Client Growth - CaixaBank reported strong commercial traction with customer funds and performing loans both growing by 8% year-on-year. - The bank acquired over 1.1 million gross new clients, with net new clients exceeding 400,000. - Significant growth in insurance, particularly in life-savings and life-risk segments, contributing to market share gains. - Business volume increased by 7.8%, indicating robust commercial momentum.

2) Financial Highlights & Profitability - Net income for Q2 reached EUR 1.631 billion, up 10% year-on-year and 4% quarter-on-quarter. - Net Interest Income (NII) rose by 2% year-on-year, with revenues from services growing 7.4%. - The bank's return on tangible equity (RoTE) stood at 18%, consistent with year-end guidance. - Non-performing loans (NPLs) improved to 1.8%, with a coverage ratio above 80%.

3) Market Conditions & Economic Outlook - CaixaBank upgraded its GDP growth estimate for Spain from 2.1% to 2.4% for the year, amidst ongoing geopolitical volatility. - The bank noted a steepening yield curve, which is expected to support future NII growth. - Despite strong growth, the bank remains cautious about external factors that could impact the economy.

4) Operational Strategies & Digital Transformation - CaixaBank is focusing on digital transformation, with its app ranked #1 in Spain and 13 million users across its digital platforms. - The introduction of AI has improved operational efficiency, with 40% of product inquiries now resolved automatically. - The bank continues to enhance its consumer lending strategies, particularly in auto financing, leveraging its existing client base.

5) Guidance & Future Outlook - The bank reaffirmed its guidance for NII in 2027, citing volatility in interest rates as a reason for not upgrading expectations despite strong loan growth. - There is an ongoing focus on organic growth, with a preference for maintaining a robust capital position and returning excess capital to shareholders through dividends and buybacks. - The transcript lacks specific forward-looking guidance on potential acquisitions or detailed plans for managing the commercial gap between loan and deposit growth.

Bottom line: CaixaBank's strong performance in Q2 2026, marked by significant client growth and improved profitability, positions it well for future growth despite external uncertainties. The bank's focus on digital transformation and organic growth strategies, along with a solid capital base, should provide a favorable outlook for shareholders.