Bankinter achieved a record profit of 526.4 million euros in 2018, which represents an increase of 6.3% over the previous year, as reported Thursday to the National Securities Market Commission (CNMV).
"The group consolidates a period of six consecutive years beating results, with an annual compound growth rate between the years 2012 and 2018 of 27%", highlighted the entity, which has obtained this result based on the recurring business and its main strengths: profitability, solvency and asset quality, "in positions of sector leadership".
Profit before taxes was 721.1 million, which represents an increase of 6.5% over the previous year.
Among the strengths highlighted in these results highlights, "once again", as explained by the bank, profitability, with a ROE, or return on capital invested, of 13.2%, which continues to place Bankinter "as the most profitable Spanish listed bank ".
The bank has highlighted that the results presented close the year with growth in all the margins of the account, in line with the trend observed throughout the year.
Thus, the interest margin ended 2018 at 1,094.3 million euros, which is 5.8% more than a year ago, while the gross margin reached 1,940 million euros, 6.4% more than at the end of 2017, with a commission income of 450 million in the year, which grew to 6.2% and now represent 23% of this margin.
For its part, the operating margin stood at 936.4 million euros, which means a growth of 6.5%, despite expenses that have increased by 6.2% this year: a 4, 3% more from banking activity in Spain and 13.5% from Línea Directa to promote new business.
Despite this, according to the bank, the growth of revenues improves the banking efficiency ratio with depreciation over the previous year, standing at 46.8% compared to 47.7% a year ago. .
As regards the balance sheet, the group's total assets amounted to € 76,501.5 million at the end of the year, 7.2% more than in 2017.
The total lending to customers amounted to a total of 55,469.6 million euros in 2018, 4.1% more than the same figure a year ago.
In Spain, the loan portfolio amounts to 50,100 million euros compared to 48,500 million a year ago, which means continuing to grow in credit while the sector in Spain decreased by 1.9% in the same section, with data November.
Likewise, retail customer funds ended 2018 at 50,583.8 million euros, which represents an 8.9% increase compared to a year ago. Of that amount, 46,300 million euros correspond to Spain, compared to 42,800 million in 2017.
Regarding the quality of assets, Bankinter stressed that it maintains its figures in an "optimal situation", by reducing the Group's total delinquency below 3%, specifically at 2.90%, less than half of the sector average . With regard to delinquency in Spain, this is reduced to 2.84%.
In this sense, the bank has underlined the similar trend experienced by the portfolio of foreclosed real estate assets, which has been reduced in this period to reach a gross value of 348.2 million euros when at the end of 2017 it stood at 411, 6 millions. The coverage of these foreclosures is 44.4%.
In terms of solvency, the capital ratio CET1 'fully loaded' at the end of the year improved by 29 basis points compared to the previous year, to 11.75%, "well above" the regulatory requirements of the ECB for Bankinter.