caixabank fixed income presentation

CaixaBank Fixed Income Presentation February 2014

Disclaimer

The purpose of this presentation is purely informative and the information contained herein is subject to, and must be read in conjunction with, all other publicly available information. In particular, regarding the data provided by third parties, neither CaixaBank, S.A. (“CaixaBank”), nor any of its administrators, directors or employees, is obliged, either explicitly or implicitly, to vouch that these contents are exact, accurate, comprehensive or complete, nor to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents in any medium, CaixaBank may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, assumes no liability for any discrepancy. This document has at no time been submitted to the Comisión Nacional del Mercado de Valores (CNMV – the Spanish Stock Markets regulatory body) for approval or scrutiny. In all cases its contents are regulated by the Spanish law applicable at time of writing, and it is not addressed to any person or legal entity located in any other jurisdiction. For this reason it may not necessarily comply with the prevailing norms or legal requisites as required in other jurisdictions. CaixaBank cautions that this presentation might contain forward-looking statements. While these statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. Statements as to historical performance, historical share price or financial accretion are not intended to mean that future performance, future share price or future earnings for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. This presentation on no account should be construed as a service of financial analysis or advice, nor does it aim to offer any kind of financial product or service. In particular, it is expressly remarked here that no information herein contained should be taken as a guarantee of future performance or results. In making this presentation available, CaixaBank gives no advice and makes no recommendation to buy, sell or otherwise deal in CaixaBank shares, or any other securities or investment whatsoever. Any person at any time acquiring securities must do so only on the basis of such person’s own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation. Without prejudice to legal requirements, or to any limitations imposed by CaixaBank that may be applicable, permission is hereby expressly refused for any type of use or exploitation of the contents of this presentation, and for any use of the signs, trademarks and logotypes which it contains. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion into any other medium, for commercial purposes, without the previous express permission of CaixaBank and/or other respective proprietary title holders. Any failure to observe this restriction may constitute a legal offence which may be sanctioned by the prevailing laws in such cases. In so far as it relates to results from investments, this financial information from the CaixaBank Group for FY 2013 has been prepared mainly on the basis of estimates.

2

2013: Delivering on Execution

3

Macro trends & sector restructuring have improved market confidence…..

Spanish economy has entered an inflection zone -Key challenge: employment creation

Banking system restructuring has continued

Strengthened supervisory procedures: Eurozone Banking Union “Year 0”

….however, persistent headwinds will continue to require further attention

Low rate environment

Strong deleveraging pressures

Cost of risk “inertia”

Excess installed capacity

Regulatory pressure: BIS III, AQR, stress test…

A key year for execution:

1.Franchise value enhancement

2.Implementing restructuring plans

3.Increasing free-float and liquidity

4.Bolstering financial strength

Setting a solid foundation for a gradual recovery of profitability

2013

2013 Highlights


4

2013 Highlights

Successful I.T. integrations of BCIV and BdV in record time: 5 in 9 months

Acquisitions reinforce footprint, advance growth targets and consolidate existing retail leadership

Distribution network continues to perform with strong market share gains (retail funds +3.8% yoy organically)

Agreement to adjust headcount by 2,600 employees was signed and booked in 1Q13

968 branches closed in a year: 24% reduction of branch network since 2007

Cost targets increased in 2Q: €436 M achieved in 2013 (vs. €423 M revised target)

8% reduction in “la Caixa” fully diluted stake via a €900 M ABO and a €750 M 4yr. exchangeable: now 56%

Transaction increases CABK’s free float, institutional shareholder base and liquidity

1. Managing for growth: consolidation of Spanish retail leadership

2. Completion of rightsizing plans and early delivery of synergies

3. Increasing free float and liquidity


5

Optimising capital has been the key priority

Strong capital generation: Core Capital Basel 2.5 at 12.9%1, +190 bps in 12 months

Early delivery of Basel 3 fully-loaded targets: Core Equity Tier 1 at 11.7%

4. Further bolstering of financial strength

Strengthening funding and liquidity profile throughout the year

LTD falls to 110% (128% Dec’12) reflecting the reduction in commercial gap

ECB funding significantly reduced: €13 bn as of January’14 (from €34bn max.)

€5.3 bn issued in wholesale funding markets

Improving trends in asset quality supported by better macro conditions

Gradual reversal of NPL formation trends: NPLs down by €0.5 bn in last two quarters

High provisioning efforts continue: €7.5 bn of total impairments in 2013

Accelerated disposal of foreclosed assets: €2.2 bn of sales & rentals

Delivering solid operating results with a focus on management of spreads and cost-cutting

NII recovery as time deposit costs fall (new production at 129 bps, -95 bps yoy)

Recurring like-for-like costs fall by 6.4% yoy

Extraordinary capital gains partially offset high provisions

(1) Despite prepayment of €977 M of BCIV FROB capital in April

2013 Highlights

Distribution network continues to produce market share gains

6

Commercial activity

20.4 21.0 21.6 21.0 21.0

26.1 27.4

16.0 15.5

9.8

14.1

1.8

8.6

11.0 13.5

4.0 4.7

2007 2008 2009 2010 2011 2012 2013

Peer 2

Peer 1

Peer 4

Peer 3

Peer 5

Retail strength results in the highest customer penetration among peers

Customer penetration, %

Peers: Santander, BBVA, Bankia, Sabadell and Popular Source: FRS Inmark

1. Includes payrolls, pensions, and self-employed earnings Source: Bank of Spain

Income flow capture1

736,105

Insurance (life-risk and others)

€445M premia

Pension plans

€1,970M gross inflows

Consumer finance

153,335 customers// €920 M

“Gift and deposit” campaign

€474M deposits

x1.8

x1.2

x1.2

x1.4

x1.9

Successful execution of marketing campaigns, focused on capturing client income flows:

Compared to 2012 campaign

Growth extended to other business areas and products

7

Leading market shares in key retail products Market share, %

2007 market share growth

17.8%

17.6%

14.1%

11.2%

5.6%

9.1%

9.8%

9.8%

9.4%

11.5%

9.4%

12.5%

14.4% Payroll deposits

Demand deposits

Mutual funds

Pension plans(3)

Saving insurance

POS terminal turnover

21.6%

19.9%

14.6%

14.8%

14.0%

15.1%

19.9%

24.0%

+7.2%

+7.4%

+5.2%

+3.3%

+4.6%

+4.2%

+5.0%

+6.2%

Credit cards turnover

+5.8%

20.7%

14.0%

14.8%

18.0%

14.1%

+6.0%

+8.5%

+6.8%

+3.1%

Consumer loan

Time deposits

Pension deposits

2013: Latest data available Source: Bank of Spain, INVERCO, ICEA and FRS Inmark

Business volume(1)

Deposits(2)

Loans(2)

(*) Ranking by number of investors, #3 by AuM (1) Loans + deposits (2) Other Resident Sectors according to Bank of Spain (3) Includes pension plans (“PPIs”) and insured pension plans (“PPAs”)

€28 bn AuM

748,333 investors

€48 bn AuM

€6,650 M Premia and contributions

€2.5 bn Premia

€22.5 bn turnover

12.6 M credit cards

€28.0 bn turnover

245,130 POS terminals

€1.2 bn assets

€880 M new business in 2013

1st *

1st

1st

+22.4% AuM

+9% AuM

+5% Premia

+19% turnover

+17% turnover

+40% assets

1st

1st

Commercial activity

Market-renowned innovation in servicing client needs

8

5.8 billion transactions in 2013 vs. 4.9 billion in 2012: +20%

Sustained increase in the number of transactions carried out via electronic channels

Branches focused on value creation by offering clients a continuously improving portfolio of financial services

Channel distribution, in %

ATMs: 11%

Branches: 9%

Automated: 28%

Internet:

52%

The world's most innovative bank in 2011 and 2013

Awards recognise market leadership in Spain and technology innovation while highlighting solvency, quality of service and social engagement

Reputation and excellence in retail banking have been recognised by market awards

Multi-channel approach and technological innovation are integral parts of our culture

Internet banking 9.2M

customers

1st

Mobile banking 3.8M

customers

1st

Commercial activity

Increase in retail funds coupled with deleveraging continue to reduce funding gap

Business volume: Loan book and customer funds In Billion Euros

(1) Deducting BdV figures as of 31/12/12 – includes changes under CABK management (2) Retail funds defined as: deposits, CP, retail debt securities (including sub. debt), mutual funds, pension plans and other retail off-balance sheet products. (3) Excluding the impact of the conversion of certain bank financing into bonds (4) Sector figures estimated by “la Caixa” Research Department

High loan-book deleveraging continues

Organic evolution of retail funds reflects strength of asset gathering franchise

Funding gap rapidly falling: LTD ratio at 110% (-18 pps in 12 months)

Lower deposit rates lead to a gradual migration to other long-term fee-generating products

Trends lead to a significant reduction in LTD ratio to 110%

Dec-12 Dec-13

514.0 510.8

9

Business volume

-0.6% YTD

+4.6%

-5.2%

Inorganic

Organic1

YTD

Total Organic1

Retail funds2

Loans3 -9.3%

+3.2%

Sector4

-5.6%

+6.9%

-11.1%

+3.8%

Commercial activity

(1) Deducting BdV data at 31/12/12- includes changes under CABK management (2) Balances are reduced as CP converts into deposits and BCIV MCB converts into shares (3) Primarily includes regional govt. securities, and Caja de Ahorros y Pensiones de Barcelona sub debt. Balance is reduced due to the conversion of Repsol preferred shares and

the reduction of regional govt. securities

Increased volumes of retail funds despite lower pricing in time deposits

10

Successful management of retail fund volumes : +3.8% yoy organic

Increased volumes of demand deposits supported by higher income flows from clients (payrolls & pensions campaigns)

Significant reduction in spreads of new deposit production

Insurance, pension plans and mutual funds continue to benefit from deposit migration as clients seek alternative investments

(0.3%)

4.9%

0.6%

1.7%

3.8%

(15.4%)

Total customer funds breakdown In Billion Euros

I. Customer funds on balance sheet

Demand deposits

Time deposits

Debt securities2

Subordinated liabilities2

Institutional issuance

Insurance

Other funds

II. Off-balance sheet funds

Mutual funds

Pension plans

Other managed resources3

Total customer funds

Retail funds

Wholesale funds

247.6

80.4

81.2

3.1

3.6

44.4

30.8

4.1

56.0

28.0

16.8

11.2

303.6

259.2

44.4

4.0%

16.3%

6.1%

(65.1%)

(17.1%)

(8.3%)

10.4%

41.0%

5.9%

22.4%

6.6%

(21.4%)

4.4%

6.9%

(8.3%)

YTD 31st Dec. Organic1 YTD (%)

+3.1%

+3.8%

Inorganic

Organic1 Retail funds

+€16.7bn (+6.9%)

Commercial activity

Significant deleveraging continues with emphasis on RE developer book

(1) Deducting BdV data at 31/12/12- includes changes under CABK management (2) Excluding the impact of the conversion of bank financing into bonds (3) Dec’13 figures affected by a reclassification of €1.7 bn loans from RE developer to Non-RE developer book

Reduction of the loan book continues:

Strong decline in the Real Estate developer loan book: -€7.9 bn (organic)

Loans to “la Caixa” RE subsidiaries have been substantially reduced

Business loans impacted by continuing low credit demand for investment projects:

o Large corporates continue to access wholesale funding markets

o Improved macro trends should lead to a gradual increase in credit demand throughout 2014

11

Loan-book breakdown In Billion Euros, gross

I. Loan to individuals

Residential mortgages – home purchases

Other

II. Loan to businesses

Non -RE businesses

Real Estate developers3

“la Caixa” RE subsidiaries

Loans to individuals & businesses

III. Public sector

Total loans

117.7

87.5

30.2

79.3

58.6

20.0

0.7

197.0

10.2

207.2

(1.2%)

(0.2%)

(4.1%)

(12.5%)

(5.3%)

(26.0%)

(60.7%)

(6.1%)

(22.7%)

(7.1%)

YTD 31st Dec.

(6.4%)

(19.3%)

(12.8%)

(25.3%)

Organic1 YTD (%)

NOTE: Excluding the impact of the conversion of certain bank financing into bonds

(5.6%) (11.1%)

+5.5%

-11.1%

Inorganic

Organic1 Loan book2

-5.6%

Commercial activity

Solid operating performance, offset by high provisioning :

Solid core business: NII & fees up yoy and qoq

Income from investments affected by lower TEF dividends and estimated YPF charge (€184 M)1

Trading income driven by higher extraordinaries

Other income impacted by sale of life-risk insurance portfolio in 4Q12

Total costs affected by restructuring & acquisitions. Like-for-Like trends show strong cost-cutting as synergies feed in

Recurrent high provisioning charges continue. Significant one-off items: pending RDL 18/12 (1Q) and refinanced loans (1H)

Bottom line supported by our capacity to generate extraordinary profits

Taxes affected by the exemption of income from investments and badwill

Financial results analysis

12

Improving operating results still offset by high impairment charges

Consolidated income statement (BdV consolidated from 1st January)

2012

Net interest income

Net fees

Income from investments1

Gains on financial assets

Other operating revenue & exp.2

Gross income

Recurring operating expenses

Extraordinary operating expenses

Pre-impairment income

Impairment losses

Profit/loss on disposal of assets and others3

Pre-tax income

Taxes

Profit for the period

Profit attributable to the Group

3,872

1,701

809

455

(100)

6,737

(3,518)

(48)

3,171

(3,942)

709

(62)

291

229

(1)

yoy(%)

2.1

3.5

(44.9)

48.9

108.3

(1.6)

12.2

(41.8)

9.8

149.7

116.6

118.9

2013

3,955

1,760

446

679

(208)

6,632

(3,947)

(839)

1,846

(4,329)

1,770

(713)

1,208

495

(8)

503 230

In Million Euros

Minority interest

qoq(%)

4.3

2.3

(51.3)

18.4

(17.7)

(4.9)

(36.9)

53.6

358.6

(12.2)

(10.0)

(1) Includes dividends and income from associates. Income from associates include a provisional estimate of the impact in REP of the potential compensation agreement for the nationalised 51% equity stake in YPF (net negative impact of €184 M). Such provisional estimate has been calculated for CaixaBank's results presentation and does not intend either to pre-judge the final result of the negotiations or its accounting in REP’s books. In the event that REP accounts for a significantly different impact to the one estimated, CaixaBank will include the necessary adjustment in its annual accounts, which are to be submitted on the 27th February.

(2) 2013 includes €99 M income from the insurance business, €-303 M deposit guarantee fund contribution and €-4M other. 2012 includes €185 M income from the insurance business, €-278 M deposit guarantee fund contribution and €-7 M other

(3) 2013 includes mainly: (+) €2.3bn BdV badwill, (+) €255 M from the transaction of Servihabitat Servicing business, (+) €79 M from the sale of the insurance business of BCIV and BdV and (+) €59 M capital gain of the partial disposal of Inbursa, (-) €665 M impairments on foreclosed assets

NII improvement supported by lower deposit costs

13

NII evolution - In Million Euros

Strong NII evolution driven by lower funding costs, more than offsetting deleveraging and slowing negative index resets: 3.64 3.57 3.50 3.43 3.21 3.07 3.00 3.02

1.70 1.64 1.69 1.59 1.55 1.45 1.37 1.28

Customer funds Loans and credits Customer spread

1.94 1.93 1.81 1.84 1.66 1.62 1.63 1.74

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

Stable loan yields and improved time deposit costs drive customer spread up 11 bps QoQ In %

883 903 1,059 1,027 992 967 977 1,019

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

+2.1%

2012: 3,872 2013: 3,955

+4.3%

NIM continues to increase reflecting improved retail and wholesale funding conditions In %

1.31 1.34 1.23 1.20 1.10 1.11 1.13 1.19

3.08 3.08 2.95 2.91 2.74 2.63 2.63 2.63

1.77 1.74 1.72 1.71 1.64 1.52 1.50 1.44

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

Total liabilities NIM Total assets


Strict management of time deposit costs has been critical throughout the year

14

Strict pricing discipline leads to a continued reduction in costs of new time deposits

Time deposits and retail CP - Back vs. front book (bps)

254 258 244 235

218

224

180 173

137 129

4Q12 1Q13 2Q13 3Q13 4Q13

Front book Back book

-30 bps

-71 bps

-89 bps

New deposits already at 129 bps, -95 bps in 12 months

Higher impact on 4Q back book supported by significant maturities in the quarter

2014 NII will continue to be significantly impacted by improved time deposit costs

-78 bps

-98 bps

o 68% of €81.2 bn time deposit base mature in 2014, with average cost of 2.1%


Improved trends in the evolution of credit back book

15

Worst is over on negative index resets

Rate changes in the repricing process of the mortgage book

Negative resets on mortgages reached a trough in 1Q13. Full 2013 NII impact of ~-€650 M

Positive repricing expected from 2Q onwards:

o However, €176 M from carried-over resets to impact 2014

Reversal in decline of loan book yields

Loan book yields - Back vs. front book (bps)

343 321 307 300 302

430 424 465 472

426

4Q12 1Q13 2Q13 3Q13 4Q13

Front book Back book

+158 bps +124 bps

Back book yields supported by the gradual reduction of negative index resets on mortgages and higher yields of recent production

Higher front book yields in 2Q/3Q arising mostly from loan mix

+103 bps +87 bps +172 bps

0.44

0.10

-0.54

-0.95 -1.15

-0.80

-0.53

-0.19 -0.05

0.03 0.07 0.09

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14

2012 2013 2014

Source: implicit market rates (31/12/13) of Euribor 12 month forward


Trends in fees driven by positive performance in insurance and off-balance sheet products

16

413 426 429 433 446 444 430 440

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13

+3.5%

2012: 1,701 2013: 1,760

Net fees In Million Euros

Net fees breakdown In Million Euros

Banking fees

Mutual funds

Insurance and pension plans

Net fees

yoy (%) 2013

1,324

176

260

1,760

(2.2)

17.4

31.8

3.5

Resilient banking fees despite the loss of one-off items

Strong performance in pensions, insurance and mutual funds:

o Migration from time deposits to off-balance sheet products

o Positive market performance o Higher market shares

+2.3%

qoq (%)

0.3

8.9

7.6

2.3


Cost discipline reflected in recurring like-for-like evolution, with higher contribution of synergies

17 (1) Like-for-like adjustments include mainly €481 M of operating expenses of 6 months of BCIV and €172 M of 12 months of BdV (2) Including €436 M of cost synergies in FY13

Recurring costs reduced by 6.4% on a like-for-like basis In Million Euros

839 648

648

Perimeter adjust and extraord.1

3,566

4,214

Extraord.

3,9472

-6.4%

4,786

Total oper. costs

Proforma Recurring

costs

Recurring costs inc. synergies

Total oper. costs

2012 2013 Delivering on cost synergies:

€436 M incorporated in FY13 figures (vs. revised target of €423 M)

Higher contribution of synergies in 4Q as employee departures were concentrated at the end of 3Q:

Recurrent costs –4.9% qoq

~€220 M of additional cost synergies to be incorporated in 2014 cost base, in line with targets (€654 M expected)


Effective delivery of synergies and restructuring actions

18

(1) Includes headcount and branches of Morgan Stanley Private Banking, Caixa Girona, Bankpyme, Banca Cívica and Banco de Valencia at the moment of the corresponding acquisition

Dec'07 Dec'07 Proforma

Dec'13 Dec'14e

≈31,000 26,063

38,549 12,486 -6,601

-20%

Employee departures in line with expected calendar

Employee base to be reduced by 20% since 2007

Agreement to be fully executed by YE2014

Fulfillment of rightsizing targets: number of branches -24% since 2007

968 branches closed in 2013, 190 in 4Q13

~60% of branches in BCIV and BdV regions closed

Strict implementation of restructuring plans has guaranteed the delivery of the announced savings:

Cost saving targets - In Million Euros

436 423

654 682

Booked

2013 2014e 2015e

Revised Target

1

31,948

Acquisitions Net

departures

Dec'07 Dec'07 Proforma

Dec'13

1

5,730 5,480 7,579 2,099

-24%

171 openings

Acquisitions -2,020 closings

Target: 5,700

279

Original Target

+€157 M


19

Capital gains have partially compensated for high provisioning charges

Strong provisioning efforts have continued throughout the year ….

In Million Euros

Pending RDL 18/2012

Provisions for refinanced loans

Less: transfer from RE generic

Other credit provisions

Other provisions1

Impairment losses

Impairments for foreclosed assets2

Fair Value Adjustments3

902

540

(165)

2,764

288

4,329

665

2,507

TOTAL impairments: €7,501 M

(1) Includes provisions for contingencies and losses on financial investments (2) Includes €310 M from the transfer of the generic RE provision (3) €1bn related to BCIV and €1.5 bn to BdV loan book (gross) after accounting for APS (4) Includes €255M of partial sale of RE servicing business to TPG, €79M of the sale of BCIV non-life insurance to Mutua Madrileña, €59M of the sale of 11% stake of Inbursa

and €2,289M of badwill generated in BdV acquisition

Capital gains have been an offsetting factor

€2,682 M

Major capital gains in 20134


Asset quality

NPL decline confirms gradual improvement in underlying credit trends

Gradual reversal in net NPL formation trend:

o Stock of NPLs falls €511 M in last two quarters

NPL ratio increases due to denominator effect (deleveraging)

NPLs (in Billion Euros)

20.5 22.6

2.0 3.3

4Q12 1Q13 2Q13 3Q13 4Q13

BdV

25.4 25.9 22.5

20.2

Refinanced loans

€15.5 bn of credit provisions

NPL coverage at 61% affected by:

o Reallocation of €310 M of RE developer generic provision to foreclosed assets

o €775 M of write-offs in the quarter

63%

77%

66% 65% 61%

4Q12 1Q13 2Q13 3Q13 4Q13

61%

25.7

NPL Coverage ratio (in %)

11.66% NPL ratio 6.83% Ex RE developers

~80% NPLs backed by collateral

20

Slight increase in NPL ratio attributable to denominator effect (deleveraging)

21

(1) Includes contingent liabilities

RE Developer NPLs decline due to continued clean-up

NPLs ex RE developers broadly flat

5.52%

4.41%

8.73%

23.06%

10.94%

59.39%

1.84%

11.66%

QoQ changes in NPLs by segments and evolution of NPL ratios

Loans to individuals

Residential mortgages - home purchase

Other

Loans to businesses

Corporate and SMEs

Real Estate developers

Public sector

Total loans1

Ex- Real Estate developers

30th Sep 13

5.72%

4.54%

9.11%

21.59%

10.29%

51.53%

1.39%

11.40%

6.69%

31st Dec 13

6.83%

31st Dec 12

3.57%

2.80%

5.72%

17.24%

5.96%

44.22%

0.74%

8.63%

3.98%

Key drivers of YTD NPL ratio evolution:

YTD change: +303bps

• Banco de Valencia

• Refinanced loans

• Deleveraging (lower denominator)

• NPL formation

+23bps

+151bps

+122bps

+7bps

NPLs qoq var. (€M)

(364)

(171)

(193)

(51)

+283

(334)

+42

(338)

(4)

NPL ratios

Asset quality

Significant clean-up of real estate developer loan exposure

22

RE developer loans breakdown evolution In Billion Euros

12.0 11.2 9.8 8.9 7.0

3.1 2.8 2.6 2.6

1.1

11.9 12.5 12.6

12.2

11.9

Dec'12 Mar'13 Jun'13 Sep'13 Dec'13

Performing

Substandard

NPL 20.0

27.0 26.5 25.0

+€0.9 bn

-€7.9 bn

Non-organic

Organic RE developer loans

YTD -€7.0 bn

23.7

Coverage

56% (€6.6 bn)

33% (€0.3 bn)

Strong decline in RE developers book: €7 bn in 12 months

Detailed portfolio review resulting in:

1. Reclassification from substandard to NPLs

2. Assignment of remaining RE developer generic provision (€1.9 bn at Q3):

o/w €310 M allocated to foreclosed assets

3. €1.7 bn loan reclassification to non-RE

€7 bn of total provisions for RE developer book:

o Coverage of RE problematic loans at 54% o Coverage of total developer loans at 35%

-€7.0 bn (-26.0%)

-15.6% qoq

Asset quality

Reduction in net foreclosures driven by reinforcement of coverage levels

23 (1) The real estate holding company of CaixaBank, S.A. (2) Including the reclassification of €310 M from the RE developers generic provision

RE assets from loans to construction and RE development

Finished buildings

Buildings under construction

Land

RE assets from mortgage loans to households

Other repossessed assets

Total (net)

Rental portfolio (net)

4,466

2,601

261

1,604

1,234

469

6,169

1,850

56%

46%

60%

65%

46%

51%

54%

Net amount Coverage

Coverage increased from 49% to 54% due to €509 M of impairments2 in Q4

Land already covered at 65%

Building Center1 repossessed real estate Assets for sale As of December 2013. Net amount in Million Euros

5,088

5,753 6,160 6,327 6,169


% coverage

45% 54% 49% 49% 48%

Asset quality

870

6,966

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

20000

E F M A M J Jl A S O N D

2011 2012 2013

Acceleration in the pace of disposals consistent with cleaning up approach

24

Disposals continue to accelerate: commercial activity +119% yoy

Rentals represent 51% of disposals:

o Total rental portfolio of €1.9 bn NBV

o 88% occupancy ratio

(1) For peer comparison purposes: total disposals of €5.3 bn and 29,132 units, at loan-equivalent amounts & including developer disposals, respectively

143

995

0

500

1000

1500

2000

2500

E F M A M J Jl A S O N D

2011 2012 2013

Building Center commercial activity

In Million Euros

2,180 1,074

1,106

Sales1

Rentals

18,386 8,721

9,665

Sales1

Rentals

Building Center commercial activity

In number of units

Asset quality

Balance sheet liquidity continues to increase as funding gap contracts

(1) Includes cash, interbank deposits, accounts at central banks and unencumbered sovereign debt (2) €12.8 bn from CABK + €5.8 bn from BdV (3) Defined as: gross loans (€207,231 M) net of loan provisions (€14,976 M) (total loan provisions excluding those corresponding to contingent guarantees) and excluding

pass-through funding from multilateral agencies (€7,218 M) / retail funds (deposits, retail issuances) (€168,374 M)

Total available liquidity - In Billion Euros

Significant reduction in ECB funding:

o €18.6 bn2 prepaid in 2013 o/w €6 bn in 4Q o Additional €2.5 bn prepaid in Jan’14

LTD ratio evolution3

128% 125% 118%

110%


117%

25

35.6 31.6

17.5 29.2

Dec'12 Dec'13

Unused ECB discount facility

Balance sheet liquidity1

53.1 60.8

+€7.7bn

LTD ratio reduced to 110%, -18pps in 12 months:

34.1

13.0

Dec'12 Jan'14

As a % of total assets

15.2% 17.9%

Sovereign bond banking book of €28.9bn with 2.3 year duration

ECB funding

-62%

Liquidity and funding

Significant presence in wholesale markets throughout 2013

26

CABK wholesale maturities as of 31st December 2013

Covered Bonds €1 bn

Senior Unsecured €3 bn

Subordinated debt €750 M

Mandatorily Exchangeable Bond into Repsol shares

€594 M

in 2014: in 2015: in 2016:

€8.3bn €6.7bn €7.2bn

Wholesale maturities can be comfortably managed:

€5.3bn issued in 2013 to take advantage of a gradual normalization in wholesale costs:

Successful management of timing and costs

Diversification of capital and funding bases

CaixaBank as issuer:

+ Exchangeable Bond issued by “la Caixa”

€750 M

ABO by “la Caixa” €900 M

CaixaBank shares as underlying:


Managing timing and costs

27


Stats:

Book/Orders 5000/320

Non Spanish Allocation 82%

Real Money Accounts 81%

Issuer RatingDeal

SizeMaturity Spread Coupon Stats

M/S&P/F Book / orders

Banco Popular Ba1/BB/BB+ €750 2.5 MS+362 4.00% 1300/176

CaixaBank Baa3/BBB-/BBB €1,000 3 MS+285 3.25% 5000/320

BBVA Baa3/BBB-/BBB+ €1,500 3 MS+273 3.25% 3600/340


Santander Baa2/BBB/BBB+ €1,000 7 MS+275 4.00% 1200/200

Issuer RatingDeal


M/S&P/F

Book / orders

Bankinter A3/-/A- €500 3.5 MS+220 2.75% 3000

Kutxa Aa3/-/AA- €750 4 MS+220 3.00% 3750/200

Santander Aa3/-/- €2,000 5 MS+195 2.875% 2600/186

Bankinter A3/-/A- €500 5 MS+220 3.125% 700

Sabadell A3/-/- €1,000 5 MS+250 3.375% 3300

CaixaBank A3/AA-/- €1,000 5 MS+210 3.00% 2700/180

Popular Aa3/-/- €500 6 MS+270 3.75% 1100/100

BBVA Aa3/-/- €1,000 10 MS+215 3.875% 3000/160

Spanish Senior Unsecured issues in 2013

Spanish Covered Bond issues in 2013

Stats:

Issuer RatingDeal


M/S&P/F Book / orders

Banco Popular Ba1/BB/BB+ €750 2.5 MS+362 4.00% 1300/176

CaixaBank Baa3/BBB-/BBB €1,000 3 MS+285 3.25% 5000/320



Santander Baa2/BBB/BBB+ €1,000 7 MS+275 4.00% 1200/200

Issuer RatingDeal


M/S&P/F

Book / orders

Bankinter A3/-/A- €500 3.5 MS+220 2.75% 3000

Kutxa Aa3/-/AA- €750 4 MS+220 3.00% 3750/200

Santander Aa3/-/- €2,000 5 MS+195 2.875% 2600/186

Bankinter A3/-/A- €500 5 MS+220 3.125% 700

Sabadell A3/-/- €1,000 5 MS+250 3.375% 3300

CaixaBank A3/AA-/- €1,000 5 MS+210 3.00% 2700/180

Popular Aa3/-/- €500 6 MS+270 3.75% 1100/100

BBVA Aa3/-/- €1,000 10 MS+215 3.875% 3000/160

Spanish Senior Unsecured issues in 2013

Spanish Covered Bond issues in 2013

Book / orders 2500/161



Issuer RatingDeal

Size

Issuance

dateMaturity Spread Coupon Stats

M/S&P/F

Book / orders

Cajamar Baa2/-/BBB €500 07/05/2013 3 MS+290 3.375% 900 / 108

Bankinter A3/-/A- €500 10/01/2013 3.5 MS+220 3000

Bankinter (tap) A3/-/A- €500 29/04/2013 3.3 MS+172 1000 / 75

Popular A3 €400 13/05/2013 4 MS+205 4.125% 525 / 45

Kutxa Aa3/-/AA- €750 18/01/2013 4 MS+220 3.00% 3750/200

Popular Baa2 €750 02/09/2013 4 MS+240 3.50% 800 / 100

Santander Aa3/-/- €2,000 21/01/2013 5 MS+195 2.875% 2600/186

Bankinter A3/-/A- €500 24/01/2013 5 MS+220 3.125% 700

Sabadell A3/-/- €1,000 11/01/2013 5 MS+250 3.375% 3300

CaixaBank A3/AA-/- €1,000 12/03/2013 5 MS+210 3.000% 2700/180

Popular A3 €500 14/01/2013 6 MS+270 1100/100

Popular (tap) A3 €100 30/04/2013 6 MS+235

BBVA Aa3/-/- €1,000 17/01/2013 10 MS+215 3.875% 3000/160

2.75%

3.75%

Book / orders 2800 / 150



Book / Orders 2700/180



Spanish Subordinated Debt Issues in 2013 Stats:

Issuer Rating

Deal

Size

Issuance

dateMaturity Spread Coupon

M/S&P/F

CaixaBank -/BB+/BBB- €750 29/10/2013 10NC5 MS+395 5.000%

Book / orders 3300 / 300



Issuer RatingDeal

Size

Issuance

dateMaturity Spread Coupon

M/S&P/F

Banco Popular Ba1/BB/BB+ €750 08/01/2013 2.5 MS+362 4.00%

Banco Popular Ba3/BB-/BB+ €750 06/11/2013 2.5 MS+232 2.875%

CaixaBank Baa3/BBB-/BBB €1,000 09/01/2013 3 MS+285 3.25%

BBVA Baa3/BBB-/BBB+ €1,500 05/03/2013 3 MS+273 3.25%

CaixaBank Baa3/BBB-/BBB €1,000 07/10/2013 3.5 MS+170 2.500%

BBVA Baa3/BBB-/BBB+ €1,500 03/01/2013 5 MS+295 3.75%

CaixaBank Baa3/BBB-/BBB €1,000 30/04/2013 5 MS+245 3.125%

Santander Baa2/BBB/BBB+ €1,000 16/01/2013 7 MS+275 4.00%

UNENCUMBERED

LOANS PORTFOLIO TOTAL

RMBS/ABSTOTAL

ENCUMBERED

TOTAL

UNENCUMBEREDLEGALLY

REQUIRED

COLLATERAL

REMAINING

COLLATERAL

MORTGAGES PORTFOLIO (ex - sec) 137,046 76,635 60,411 --- 137,046 ---

PUBLIC SECTOR PORTFOLIO (ex - sec) 11,739 10,000 1,739 --- 11,739 ---

OTHER LOANS PORTFOLIO (ex - sec) 25,031 --- --- --- --- 25,031

SECURITISATIONS (**) 8,741 --- --- 8,741 8,741 ---

LOANS TO CUSTOMERS 182,557 86,635 62,150 8,741 157,526 25,031

REPOS / ENCUMBERED ASSETS 12,549 --- --- --- 12,549 ---

INSURANCE COMPANIES ASSETS (ENCUMBERED) 34,882 --- --- --- 34,882 ---

REST OF ASSETS (UNENCUMBERED) 110,202 --- --- --- --- 110,202

TOTAL ASSETS 340,190 86,635 62,150 8,741 204,957 135,233

PUBLIC ISSUANCE

RETAINED/ECB

COLLATERAL TOTAL ISSUED

MORTGAGE COVERED BONDS 37,826 23,482 61,308

PUBLIC SECTOR COVERED BONDS 350 6,650 7,000

RMBS/ABS (***) 2,052 6,689 8,741

SENIOR DEBT (except GGB) 7,674 101 7,775

GOVERNMENT GUARANTEED BONDS 1,485 320 1,805

TOTAL ISSUED 49,387 37,242 86,629

ENCUMBERED

Dec 2013

(*) Legally required OC ratio is 125% for Mortgage CB and 142,9% for Public Sector CB. Nevertheless, CB are backed by the whole portfolio, which thus it's fully encumbered.

(**) It includes all type of securitized loans

(***) Aproximate data

Data in million euros

COVERED BONDS*

c c

2

8

Assets Encumbrance


8,575

7,037 7,172

5,007

5,647

2,484

379

2,874

1,394 1,000

2,364

610 450 185 90 20 44

20 158

-

1,000.00

2,000.00

3,000.00

4,000.00

5,000.00

6,000.00

7,000.00

8,000.00

9,000.00

10,000.00

Senior Debt (includes GGB) Covered Bonds Subordinated debt/Preferred Stock Other

29

(1) Data in Million €, excluding retained issues and including debt in subsidiaries’ balance sheet . Source: CaixaBank

Institutional Caixabank Issues: Maturity Profile as of December 2013

INSTITUTIONAL DEBT OUTSTANDING1: 45.509 € Mn


Solvency

Exceeding our capital targets

BIS-2.5 Core Capital evolution

In %

30

Strong capital generation (+190 bps Core Capital)

Uplift in B3 FL CET1 ratio to 11.7% due to regulatory framework and capital optimization measures, including partial sale of GFI in 2Q and REP exchangeable bond in 4Q

B3 phase-in CET1 ratio stands at 11.0% (excluding €1.9 bn outstanding mandatory convertible bonds temporarily eligible as AT1)

(1) Includes the impact of restructuring costs, provisioning charges related to refinanced loan book, the booking of €700 M of net FV adjustments attributable to the BCIV acquisition and other non-recurrent adjustments

Core Capital BIS 3 - FL (Dec’13)

11.7%

Core Capital

RWA

17.7 bn

161.2 bn

16.7 bn

129.1 bn

Dec'12 Dec'13

11.0%

+193bps 12.9%

Organic

-56bps

+69bps

Inbursa

Other non-recurrent

items1

+110bps

BdV

-47bps

RDL 18/2012

-72bps

FROB Prepayment

And well positioned from every regulatory angle

31

Further regulatory challenges include:

Leverage ratio (LR) stands well above minimum requirement (3%)

Loss Absorption Capacity (LAC): Equity, hybrids and subordinated debt already above 8% level required in draft BRRD1 for bail-in purposes

Capital ratios

Leverage ratio

Bail-in ratios

CET1

Total

12.9%

BIS 2.5

14.5%

BIS 3 - FL

11.7%

14.6%

Loss Absorption Capacity = 9.2%

Preliminary estimate (consolidated basis)

Estimated according to final arrangements of Basel Committee (Jan’14)

LR phase-in

LR fully loaded

= 5.5%

= 5.3%

(1) Bank Recovery and Resolution Directive

Solvency

32

Covered Bond Label Compliant since 1st January 2013

Moody’s Investors Service A3

AA-

Best rated Covered Bonds in Spain

High quality collateral & strong overcollateralization

Low risk profile: mortgage portfolio prudently managed

Always aiming to the best market standards Transparency: complete quarterly information available in our

web page: http://www.caixabank.com/inversoresinstitucionales/inversoresrentafija_en.html

Solid OC levels Total OC: 224% -> and flexibility to optimize our collateral:

Legal OC: 127%

23 bn of retained Covered Bonds

….Despite following eligibility criteria stricter than legal

Almost 72% of residential loans, out of which:

90% with LTV < 80%

90% First home loans

Comfortably above the legally required ratio (125%)….

Remaining Issuing Capacity: 2,1€ Bn (mortgage & public sector CB)

CaixaBank Covered Bonds Programme - Highlights

Covered Bonds

http://www.caixabank.com/inversoresinstitucionales/inversoresrentafija_en.html

Mortgage Covered Bond Programme

CaixaBank Covered Bonds Programmes - Main figures Dec ‘13

33

Spanish Public Sector Covered Bond Programme

Issuing capacity & Collateral type

Remaining Issuing Capacity 2,103 € Bn Collateral by Type

Covered Bonds

PUBLIC SECTOR COVER POOL

Cover Pool Size (mill €) 11,739

Number of loans 6,596

Average loan Balance (€) 1,779,780

WA Seasoning (years) 3.6 yrs

WA Remaining Term (years) 6.6 yrs

31/12/2013 PUBLIC SECTOR COVER BONDS 31/12/2013

Outstanding nominal (mill €) 7,000

OC 168%

Issuing Capacity 1,218

Average Maturity (years) 2.3

RATINGS

Moody's A3

RATINGS

Moody's A3

S&P AA-

MORTGAGE COVER BONDS 31/12/2013

Outstanding nominal (mill €) 61,308

OC (total) 224%

OC (legal - eligible portfolio) 127%

Issuing Capacity 885

Average Maturity (years) 5.99

Mortgages CB; 885

Public Sector CB; 1,218 66%

26%

8%

Residential Commercial Public Sector

MORTGAGE COVER POOL

Cover Pool Size (mill €) 137,046

Residential Assets 98,094 72%

Comercial Assets 38,952 28%

Elegible Pool (mill €) 77,742

Number of loans 1,473,678

Average loan Balance (€) 92,996

WA Seasoning (years) 6.7 yrs

WA Remaining Term (years) 19.3 yrs

WA LTV 56.8%

WA LTV Elegible Pool 49.0%

31/12/2013

Total Collateral Eligible vs non-eligible Max. CB Issuance Outstanding CBs vs Remaining Issuing

Capacity

137.0

77.7

62.2 61.3

59.3

0.9

7,407

5,703

6,031

4,0263,999

2,144

379

2,874

1,354

250

0 2,364

550 450 185 90 20

209

1,081 52

746

2,372

2,010

1,550

476 2,063

1,050

2,900

1,264

3,000

1,9002,800

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

20

14

20

15

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

20

27

20

28

20

31

20

37

20

38

20

48

Public Issues Retained Issues

34

CaixaBank Mortgage Covered Bond Programme Dec‘13

Remaining Issuing Capacity

x 80%

ELIGIBLE

REMAINING ISSUING CAPACITY: 0.9 Bn €

Maturity Profile

Total Covered Bonds -> 61,308 € Bn Public -> 37,826 € Bn Retained -> 23,482 € Bn

Issued

In Billion €

Mortgages Public Sector

Total Collateral for Covered Bonds 145,758 11,659 Elligible Portfolio 101,130 11,659

Cédulas

Hipotecarias

Cédulas

Territoriales

Used Collateral 99,199 9,571 Covered Bond Issued Amount 79,359 6,700

Over Collaterization (**) 184% 174%

Available Collateral 1,932 2,087

REMAINING ISSUING CAPACITY (*) 1,545 1,461 Mn €

(*) Issuing Capacity= 80% of Collateral Available for C. Hipotecarias and 70% for C. Territoriales

(**) Due to the early amortisation of € 3 Bn of retained cedulas on April 15th, OC ratio is currently higher

Data in Million €

3,006 Available Issuing Capacity

86,1€ bn

89,1 € bn

113 bn

157 € bn

≈ 3 € bn Remaining

Issuing Capacity

44 € bn

Outstanding CBs

Max. CB Issuance

Elegible vs non-elegible

Total Collateral (Mortgages+Public

Sector)

(**) Data in million €

Covered Bonds

Mortgages

Total Collateral for Covered Bonds 137,046 Elligible Portfolio 77,742

Cédulas

Hipotecarias

Used Collateral 76,635 Covered Bond Issued Amount 61,308

Over Collaterization 224%

Available Collateral 1,107

REMAINING ISSUING CAPACITY (*) 885

35


OC Evolution

OC Legal

127%

Decision of generating additional collateral for the ECB credit facility to anticipate any potential deterioration in markets

Banca Cívica integration

Covered Bonds Amortization

Q4 2013: Collateral management

Retained Covered Bonds amortization Market enviroment improvement has reduced the need of liquidity buffers

TOTAL OC: improves to 224%

ENCUMBRANCE: improves

Adding value to investors…

20%

14%

18%

22%

16%

3% 3%2%

1% 0% 1%0%

5%

10%

15%

20%

25%

90% of the loans with LTV < 80%

36


RESIDENTIAL ASSETS

Portfolio Breakdown

Seasoning

Cover Pool Description – Main figures

90% of the pool with LTV <80%

Covered Bonds

Total Mortgage Loans (ex securitization) (€ k) 98,094,030

Number of loans 1,265,131

Average Loan balance (€) 77,537

Number of Borrowers 1,079,077

Number of properties 1,430,819

WA Seasoning in months 83.7 7 yrs

WA Remaining term in months 258.7 21.6 yrs

Expected WA life of the portfolio in years 12.0 yrs

WA LTV (%) 56.7%

First Rank 94%

Floating Rate loan Interest Rate type: 99.4%

WA Interest Rate (Floating Rate loans) 2.19%

WA Interest Rate (Fixed Rate loans) 5.10%

LTV Ranges

Distributions

Total Loan Balance

(ex sec) €k%

0-≤40% 19,933,082 20%

>40%-≤50% 13,576,424 14%

>50%-≤60% 17,965,688 18%

>60%-≤70% 21,936,600 22%

>70%-≤80% 15,348,369 16%

>80%-≤85% 3,420,333 3%

>85%-≤90% 2,771,370 3%

>90%-≤95% 1,659,771 2%

>95%-≤100% 651,608 1%

>100%-≤105% 250,038 0%

>105% 580,747 1%

98,094,030

Seasoning (months) € k %

< 12 2,141,140 2%

≥12-<24 3,985,073 4%

≥24-<36 5,491,315 6%

≥36-<60 14,028,324 14%

≥60 72,448,178 74%

Total: 98,094,030

2%

4%

6%

14%

74%

< 12

≥12-<24

≥24-<36

≥36-<60

≥60

90%

8%1% 1%

0%10%20%30%40%50%60%70%80%90%

100%

First Home Second Home Not Owner occupied

Other

37

CaixaBank Mortgage Covered Bond Programme Dec ‘13

RESIDENTIAL ASSETS

First home loans represent 90% of the residential pool

63%

19%

5% 6% 5% 3%

0%

10%

20%

30%

40%

50%

60%

70%

Adquisition Re-mortgage Equity release Rehabilitation New construction

Other

Acquisitions have led to a more diversified regional distribution of the assets

Covered Bonds

Property type € k %

First Home 87,822,493 90%

Second Home 8,056,939 8%

Not Owner occupied 1,202,126 1%

Other 1,012,472 1%

Total: 98,094,030

Loan Purpose € k %

Adquisition 62,083,543 63%

Re-mortgage 18,490,759 19%

Equity release 4,456,165 5%

Rehabilitation 6,052,690 6%

New construction 4,423,808 5%

Other 2,587,065 3%

Total: 98,094,030

Regional Distribution € k %

Catalonia 27,755,576 28%

Andalusia 17,170,250 18%

Madrid 12,677,434 13%

Valencia 7,592,141 8%

Canary Islands 6,361,351 6%

Balearic Islands 3,780,476 4%

Castile León 3,698,109 4%

Castile La Mancha 3,139,989 3%

Navarra 3,140,834 3%

Basque Country 2,669,039 3%

Murcia 2,558,802 3%

Galicia 2,034,359 2%

Aragon 1,639,560 2%

Cantabria 880,422 1%

Extremadura 848,231 1%

Others/ No info 779,846 1%

Asturias 777,174 1%

La Rioja 498,795 1%

Ceuta 73,073 0%

Melilla 18,570 0%

Total: 98,094,030

38

CaixaBank Mortgage Covered Bond Programme Dec ‘13

COMMERCIAL ASSETS

Portfolio Breakdown


Covered Bonds

Total Mortgage Loans (ex securitization) (€ k) 38,951,922 WA LTV (%) 56.8%

Number of loans 208,547 Floating Rate loan Interest Rate type: 96.7%

Average Loan balance (€) 186,778 WA Interest Rate (Floating Rate loans) 2.9%

Number of Borrowers 95,900 WA Interest Rate (Fixed Rate loans) 5.2%

Number of properties 270,555

WA Seasoning in months 71.3 5.9 yrs

WA Remaining term in months 164.9 13.7 yrs

LTV Ranges

Distributions

Total Loan

Balance

(ex sec) €k

%

0-≤40% 9,929,986 25%

>40%-≤50% 5,751,382 15%

>50%-≤60% 6,780,008 17%

>60%-≤70% 6,609,481 17%

>70%-≤80% 4,019,553 10%

>80%-≤85% 1,084,033 3%

>85%-≤90% 1,159,576 3%

>90%-≤95% 820,771 2%

>95%-≤100% 1,105,182 3%

>100%-≤105% 581,260 1%

>105% 1,110,690 3%

Total: 38,951,922

25%

15%

17% 17%

10%

3% 3%2% 3%

1%3%

0%

5%

10%

15%

20%

25%

30%

Property Type € k %

Offices 1,360,497 3%

Commercial stores 5,517,946 14%

Industrial 3,545,881 9%

Hotel 1,736,538 4%

RED: Flats & Houses 11,193,868 29%

Land 5,594,126 14%

Others 10,003,067 26%

Total: 38,951,922

3%

14%

9%

4%

29%

14%

26%

0%

5%

10%

15%

20%

25%

30%

35%

Offices Commercial stores Industrial Hotel Flats & Houses Land Others

39


COMMERCIAL ASSETS

Portfolio Breakdown

Covered Bonds

Loan Maturity (yrs) € k %

≤ 5 7,417,866 19%

>5 - ≤10 8,206,109 21%

>10 - ≤15 7,480,862 19%

>15 - ≤25 9,016,543 23%

>25 - ≤50 6,830,441 18%

>50 101 0%

Total: 38,951,922

Regional Distribution € k %

Andalusia 7,907,079 20%

Catalonia 7,769,906 20%

Madrid 6,370,052 16%

Canary Islands 3,842,600 10%

Valencia 2,710,004 7%

Castile León 1,441,635 4%

Castile La Mancha 1,345,546 3%

Balearic Islands 1,334,969 3%

Basque Country 1,180,438 3%

Navarra 1,080,511 3%

Others/ No info 938,787 2%

Murcia 813,976 2%

Galicia 620,782 2%

Aragon 590,894 2%

Extremadura 321,441 1%

Cantabria 268,065 1%

La Rioja 216,034 1%

Asturias 175,249 0%

Ceuta 16,936 0%

Melilla 7,018 0%

Total: 38,951,922 100%

19%

21%

19%

23%

18%

0%

≤ 5

>5 - ≤10

>10 - ≤15

>15 - ≤25

>25 - ≤50

>50

Total colateral Capacidad emisión máxima Cédulas emitidas

11.7

8.2

7.0

0.0

1.2

-

-

-

-

350 -

1,500

2,700

250

250

1,450

500

-

500

1,000

1,500

2,000

2,500

3,000

20

14

20

15

20

16

20

17

20

18

20

19

Public Issues Retained Issues

40

CaixaBank Public Sector Covered Bond Programme Dec ‘13

Remaining Issuing Capacity

x 70%

REMAINING ISSUING CAPACITY: 1,2 Bn €

Maturity Profile

Total Covered Bonds -> 7,000 € Bn Public -> 350 € Bn Retained -> 6,650 € Bn

Issued

In Billion €

Mortgages Public Sector

Total Collateral for Covered Bonds 145,758 11,659 Elligible Portfolio 101,130 11,659

Cédulas

Hipotecarias

Cédulas

Territoriales

Used Collateral 99,199 9,571 Covered Bond Issued Amount 79,359 6,700

Over Collaterization (**) 184% 174%

Available Collateral 1,932 2,087

REMAINING ISSUING CAPACITY (*) 1,545 1,461 Mn €

(*) Issuing Capacity= 80% of Collateral Available for C. Hipotecarias and 70% for C. Territoriales

(**) Due to the early amortisation of € 3 Bn of retained cedulas on April 15th, OC ratio is currently higher

Data in Million €

3,006 Available Issuing Capacity

86,1€ bn

89,1 € bn

113 bn

157 € bn

≈ 3 € bn Remaining

Issuing Capacity

44 € bn

Outstanding CBs

Max. CB Issuance

Elegible vs non-elegible

Total Collateral (Mortgages+Public

Sector)

(**) Data in million €

Covered Bonds

Public Sector

Total Collateral for Covered Bonds 11,739 Elligible Portfolio 11,739

Cédulas

Territoriales

Used Collateral 10,000 Covered Bond Issued Amount 7,000

Over Collaterization 168%

Available Collateral 1,739

REMAINING ISSUING CAPACITY (*) 1,218

41

CaixaBank Public Sector Covered Bond Programme Dec ‘13

Portfolio Breakdown

Loan Maturity


Covered Bonds

Total Mortgage Loans (ex securitization) (€ k) 11,739,429 Floating Rate loan Interest Rate type: 90.6%

Number of loans 6,596 WA Interest Rate (Floating Rate loans) 2.01%

Average Loan balance (€) 1,779,780 WA Interest Rate (Fixed Rate loans) 4.18%

Number of Borrowers 1,817

Average exposure to borrowers (€ ) 6,460,886

WA Remaining term in months 80 6.6 yrs

WA Seasoning in months (1)

43 3.6 yrs

< 12 1,816,645 15%

≥12-<24 1,119,930 10%

≥24-<36 977,051 8%

≥36-<60 2,027,842 17%

≥60 5,797,961 49%

Total: 11,739,429

Loan Maturity € k %

<2m 0.12%

≥ 2m - <6m 0.23%

≥ 6m - <12m 1.05%

≥12m 1.69%

Loans in Arrears %

15%

10%

8%

17%

49%

< 12

≥12-<24

≥24-<36

≥36-<60

≥60

Total refinanced loans – 31st December

42

Appendices

0.7

6.5

7.4

10.7

25.3

17.9

5.7

Performing Substandard NPL

0.7

2.8

1.6

5.8

10.9

9.3

-

0

1.3

0.7

1.3

3.3

2.6

0.6

€Bn

Public Sector

Corporates (ex-RE)

RE Developers

Retail

Total

Of which: Total Non-RE

Existing provisions

0

2.4

5.1

3.6

11.1

6.0

5.1

Total

Listed portfolio as of 31st December 2013

Ownership Market Value

(in Million Euros)

Number of shares

Industrials:

Telefónica 5.4% 2,895 244,598,190

Repsol YPF 12.0% 2,867 156,509,448

BME1 5.0% 116 4,189,139

International Banking:

GF Inbursa 9.0% 1,228 600,763,993

Erste Bank 9.1% 993 39,195,848

BEA 16.5% 1,161 378,013,906

Banco BPI 46.2% 781 642,462,536

Boursorama 20.7% 148 18,208,059

TOTAL: 10,189

43

(1) Total stake in BME was sold on January 16th 2014

Appendices

44

Moody’s Investors Service Baa3

BBB-

BBB

P-3

A-3

F2

negative

negative

Long term

Short term

Outlook

A3

AA -

-

Credit Ratings

Mortgage Covered Bonds

Only domestic- focus financial institution with investment grade ratings from all agencies

stable

A (low) - R-1 (low)

negative

Appendices

http://www.dbrs.com/

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+34 93 411 75 03

Institutional Investors & Analysts Contact

We are at your entire disposal for any questions or suggestions you may wish to make. To contact us, please call or write to us at the following email address and telephone number:

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