Thursday, December 1, 2022
No menu items!

Bankinter earned 154.3 million in the first quarter, 4% more, despite not adding Direct Line

Must Read

Bankinter managed to overcome the fact that Línea Directa no longer adds to the group’s balance sheet. The financial entity achieved a profit of 154.3 million euros in the first quarter of 2022; a figure 4.1% higher year-on-year, taking into account that now it no longer has the insurer in its network.

«The Bankinter Group starts the new financial year in a successful way, maintaining the growth trend of its commercial activity in all the geographies in which the bank operates. This strength in its business lines, accredited in the growth of all margins, has allowed the entity to improve results with purely banking income that in the first quarter of 2021 still fully included those from Línea Directa«, the bank reported.

The insurance group was listed on the stock market just a year ago, which was an intention that had initially been delayed due to the pandemic situation.

For its part, the result before taxes of banking activity reached 214.3 million euros, which, in strictly comparable terms with the same figure for 2021, represents a growth of 33%.

As for profitability, measured in ROE, this increased to 11.7%. This is one of the ‘duties’ that supervisors have set for all entities, to improve their profitability, and everything indicates that the low figures experienced during Covid have been left behind.

The ‘fully loaded’ CET1 capital ratio was 11.9%, “well above the ECB’s requirements, which for Bankinter is 7.726%”. In terms of non-performing loans, this fell to 2.20%, 17 basis points lower than that of the same period in 2021.

“All the margins of the account show improvement compared to the figures for the same period in 2021, proving the strength of the bank’s commercial strategy, its projection for the future and its ability to compensate with bank income for the absence of Line results. Direct”, reported the bank.


Please enter your comment!
Please enter your name here

Latest News

Fed Chairman Suggests Next Rate Hikes Could Go Softer: What It Means for Your Pocket

Jerome Powell, Chairman of the Fed, indicated during a meeting on Wednesday that the next increases in interest rates...

More Articles Like This