EVO Banco completed a three-year strategic cycle in 2023. This has enabled it to significantly boost its value proposition as one of the largest and most innovative digital banks in Spain. During that period, the entity has gone through a major technological and commercial transformation to increase its business potential and ensure its short- and long-term structural profitability.
Following this effort, at year-end 2023 EVO had achieved growth in all of its business lines and break even in its income statement, a milestone that places it in a new scenario of sustainability and leadership in the digital finance market. Gross operating income was 66 million euros, 78% more than in 2022; operating profit increased from -19 million euros to 4.1 million euros; and pre-tax profit was positive at 0.01 million euros, following a loss of 24.2 million euros the previous year. This was backed by a policy of prudent risk management, with a non-performing loans ratio of 0.46% at 31 December.
EVO increased its portfolio of financial customers to 766.8 million euros in 2023, while consolidating its position as a main bank. Mortgages were arranged with a value of 872.6 million euros, which increased lending from 2,719 million to 3,393 million euros (+25%). In savings, a major marketing campaign was conducted to position its range of interest-bearing accounts (Smart Account) and deposits as being among the most competitive in the market. As a result, the balance of funds rose to 3,964 million euros, compared to 3,828 million the previous year.
In terms of off-balance sheet lending, in 2023 EVO had the best indexed management offer of any Spanish bank, which, together with investment fund and securities trading services, resulted in an off-balance sheet balance of 257 million, 3.3% higher than in 2022.
The strong performance of EVO's business extended to other business lines. This is demonstrated by the 51% increase in new personal loans (more than 64 million euros of annual lending); the 7.5% increase in the card portfolio, to more than 796,000; and the boost to home (+25%) and life (+160%) insurance, which together amounted to a portfolio of 5,800 million euros at year-end 2023.
The growth of the business was accompanied by structural improvements to the entity's technological and operational platform and the launch of disruptive innovations, such as new cashback systems and geolocation of digital purchases, which contributed to improving the customer NPS performance index to 32 points.
EVO also increased its workforce by around 10%, to 217 people. Employment turnover at EVO was 1.4%, demonstrating the high level of loyalty of the entity's talent.
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