Business Bankinter earns 430.1 million until September, 21.2% more

Bankinter earns 430.1 million until September, 21.2% more

File – The CEO of Bankinter, Maria Dolores Dancausa, during the presentation of the bank’s results for the first half of 2022, on July 21, 2022, in Madrid. – MAXIMO GARCIA DE LA PAZ | BANKINTER – Archive

The Bankinter Group recorded a net profit of 430.1 million euros during the first nine months of this year, which represents 21.2% more than in the same period last year, with improvements in margins and “strong” growth of the business, as reported by the entity.

Excluding the capital gain from the operation of Linea Directa, the bank exceeds the recurring profit of 2021 results, which included four months of income from the insurance company.

For its part, the result before taxes of the banking activity was 601.6 million euros, which represents a growth of 35.9%.

The Bankinter Group has highlighted that it ends the third quarter of 2022 with “strong” growth in the balance sheet and in all business indicators, as a result of a commercial activity that maintains the good pace of the year and that translates into the improvement of all margins and the consequent result.

“These data serve to verify Bankinter’s potential to expand market share in all those businesses, national and international, in which it operates; and its ability to more than compensate with purely banking activity the income that until April 2021 it received from Linea Directa”, he highlighted.

All that strength of the business is transferred, according to the entity, to the main ratios and indicators, which “show the solidity” of the bank’s balance sheet, as well as its level of solvency and profitability.

The latter, measured in terms of ROE (return on equity), stands at 11.6%, one of the highest figures in the sector, and with a ROTE of 12.3%.

In terms of solvency, the ‘fully loaded’ CET1 capital ratio reaches 11.90%, “very comfortably” exceeding the minimum requirement required by the ECB for an entity with the level of risk and type of activity of Bankinter, which is 7.726%.

At the same time, the bank maintains its delinquency level well below the industry average, with a ratio of 2.10% which, according to the bank, is even lower than that of previous quarters and is 30 basis points below the from a year ago.

However, Bankinter has prudently continued to strengthen the coverage of this delinquency to 65.1%, from 62.8% a year ago.

The efficiency ratio stands at 43.16% compared to 43.87% a year ago. That same ratio referred to Bankinter Spain for the last 12 months is 41.8%.

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