October 27, 2020

Bankinter earns more than 526 million, its historic maximum

Bankinter earns more than 526 million, its historic maximum


MadridUpdated:

Bankinter closes another year with all its business magnitudes on the rise and again reaching a record profit. The entity headed by María Dolores Dancausa won in 2018 a total of 526.4 million euros, 6.3% more than in the previous year and its historic maximum, as its recurring revenues grew.

The entity billed last year for the activity of credit intermediation a total of 1,094 million euros, which represents an increase of 5.8%, and its fee income grew 6.2% to 450 million. Thus, the group's total revenues amounted to 6.4% to 1.95 billion.

The main line of business of Bankinter, lto companies, which accounts for 30% of their results, last year contributed 155 million gross margin, 11% more, especially by activity of SMEs. In private banking, the group increased the assets under management by 2%, to 35,600 million, and another 2%, to 21,600 million, in the personal banking segment. The insurer Direct line, which contributes 22% of the result, invoiced 853.1 million, 7% more.

The bank's new business lines are also evolving positively. The consumer credit, Bankinter Consumir Finance, reached a credit portfolio of 2,000 million, 34% more. For its part, the bank's subsidiary in Portugal grew 17% in resources and 12% in loans, which allowed it to improve its total income by 14% and contribute 60 million before taxes.

Bankinter has highlighted that at the close of 2018 its ratio of profitability over own resources is 13.2%, comfortably above the cost of capital (10%) and the highest level of Spanish listed banks.

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