Bankinter has released its financial results for the first quarter, showing a 8.7% increase in net profit to 200.8 million euros compared to the previous year. The bank fully accounted for the special banking tax, which saw a 23% increase to 95 million euros. The growth was attributed to an increase in volumes, effective management of spreads, and a focus on high-value customer segments.
The total income for the quarter increased by 6.9% to 658.7 million euros, with net interest income rising by 10.6% to 577.7 million euros and net commissions improving by 8.5% to 165.8 million euros. However, operating expenses also increased, with personal expenses up by 5.2% and administration expenses by 6.5%.
Provisions and losses due to asset impairment decreased, while the non-performing loan ratio increased slightly to 2.23%. The return on tangible equity improved to 18.42%, and the bank also improved its CET1 capital ratio by 36 basis points to 12.46%. At the end of the quarter, Bankinter’s balance sheet showed growth in assets, loans and advances to customers, customer deposits, off-balance sheet customer funds and notable growth in sicavs and alternative investments
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