Bankinter’s First Quarter Results: Profitable Growth and a Strong Outlook for the Future

Bankinter has presented its banking results for the first quarter of 2023, with a positive outlook for the future. Led by Gloria Ortiz, the bank recorded a net profit of 200.8 million euros in the first quarter, an increase of 8.7% compared to the previous year. The growth in volumes and consistent commercial strategy have led to an increase in all margins and strengthened the bank’s position as a leader in efficiency and profitability within the sector.

Total income for the quarter reached 658.7 million euros, with net interest income increasing by 10.6% and net commissions by 8.5%. Operating expenses rose slightly for personnel expenses and administration expenses and amortizations, while provisions for provisions decreased by 26.2%, indicating a decline in risk management costs. The operating result increased by 7.6% to 426.4 million euros, indicating strong cost control measures taken by the bank’s management team.

Customer deposits and loans to credit institutions saw significant increases, while liabilities increased by 6.5%. Off-balance sheet customer funds also grew, with investments in third-party funds and own investment funds showing positive growth, indicating that customers are comfortable investing in these options due to their trust in Bankinter’s management team’s expertise. Despite a slight increase in non-performing loan ratio to 2.23%, Bankinter saw an improvement in its return on tangible capital ratio (ROTCR) of 392 basis points to 18.42%, indicating that it is making better use of its assets to generate profits than ever before.

The CET1 capital ratio also increased by 36 basis points to 12.46%, indicating that Bankinter is taking proactive steps towards ensuring financial stability amidst market volatility.

Finally, total assets on the bank’s balance sheet increased by 6.6% to €112,938 million euros, demonstrating steady growth over time.

Overall, Bankinter’s first-quarter results show solid performance across all metrics – from revenue growth to asset management – with a clear outlook for continued success as they continue their strategic approach towards generating more profits while maintaining their leadership position within the sector.