The Spanish Bankinter benefited €271 million in the first half of 2022, a 10.8% increase compared to the previous year, with the branches in Portugal will contribute 30 million euros.
In a statement released this Thursday and published by the Spanish National Securities Market Commission (CNMV), the banking group indicates that the results are only related to purely banking activity, since in 2021 the balance included “four months of recipes for Direct line”.
All business lines and items in the income statement, as well as the main indicators, registered growth compared to the same period in 2021, which demonstrates Bankinter’s ability to substitute purely banking income for the income from Línea Direta, whose separation from bank occurred at the end of April 2021″, says the banking group in the note.
The main management ratios indicate that the return on equity, ROE, is within the 11.6%; the efficiency ratio of 44.4% and the default rate (NPL) in 2.11%.
Pre-tax profits from banking activity were €373.9 millionwhich, explains the bank, in comparable terms with the same value of 2021, represents an increase of more than 30%.
The fully loaded CET1 capital ratio was 11.9%“well above the minimum threshold required of Bankinter by the ECB [Banco Central Europeu]that is of 7.726%“.
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Regarding the business it has in Portugal, the banking group highlights the “excellent evolution of business indicators”, with a profit before taxes of €30 million, plus 16% than in the first six months of 2021.
The loan portfolio amounted to €7.5 billion, plus 10% on a similar basis, and the client’s resources grew 19%by €6.5 billion.
Bankinter Portugal obtained a net interest income and a gross income 11% and 9% higher, respectively, than in the same period of 2021.
The Spanish group Bankinter has been in Portugal since 2016, when it bought part of the business and commercial network of Barclays.
In 2021, the banking group had profits of 1,333 million eurosincluding an extraordinary non-recurring capital gain from the sale of Línea Directa, with the branches in Portugal contributing 50 million euros (before taxes).
Source: Observadora
