Madrid, July 18, 2024 (Lusa) - Bankinter hopes to continue growing in Portugal by gaining market share and has no intention of buying other banks, the Spanish financial group's government chairman, Gloria Ortiz, said on Thursday.
The Bankinter group made a profit of €473.5 million in the first half of this year, up 13.3% on the same period in 2023, the bank announced today.
In Portugal, where it has been present since 2016, the pre-tax result was €102 million between January and June, 20% more than in the first half of last year.
At a press conference in Madrid to present and comment on the results of the first half of the year, Gloria Ortiz said that Bankinter had had "a stupendous six months" in Portugal and added that the expectation is to "continue to grow sustainably in the future" in the domestic market, both in the corporate and individual segments.
The CEO of the Bankinter group assured that the goal in Portugal is "organic growth" and said that the group has no intention of buying other banks.
According to the figures revealed today by Bankinter, in Portugal, in the first half of the year, the bank's loan portfolio reached €10 billion. It increased by 12% compared to the same period in 2023, with non-performing loans (defaults or late payments on loan instalments) remaining at 1.3%.
Loans to companies grew by 25% in Portugal in the first half of the year, "compared to a sector that is only growing by 0.9%", said Bankinter.
Concerning loans for house purchases, the Bankinter group's financial director, Jacobo Díaz, said at the press conference in Madrid that there are optimistic expectations for all the markets (Portugal, Spain and Ireland) for the coming months after the production of new mortgages was "very active" in the second quarter of this year.
As well as a context of falling interest rates, there are also upward and more optimistic revisions for the economy, including the labour market, which should positively impact the demand for loans to buy homes, added Jaboco Díaz.
Also in Portugal, Bankinter's customer funds reached €8 billion (13% more than in the first half of 2023), the interest margin reached €140 million (19% more than a year ago), net commissions (the difference between those charged and those paid by the bank) reached €37 million (11% more) and operating expenses rose to €51 million (8% more).
In global terms, Bankinter emphasised today that in the first half of the year, it continued to increase its market share in all its business lines and countries.
On 30 June, the group's total assets stood at €118.4 billion (up 7.5% from a year ago), the loan portfolio totalled €78.687 billion (up 5.5%), and retail customer funds stood at €80.755 billion (up 3.6%).
In the statement released today, Bankinter said that "the strong growth in the volumes of the loan portfolio and resources" was reflected in all the items of the bank's profit and loss account in the first half of the year.
Thus, the interest margin was €1.160.3 billion (up 8.6% on a year ago); the gross margin, which includes all income, amounted to €1.410.5 billion (up 10.4%); income from commissions charged to customers totalled €439.8 million and net commissions, the difference between those charged and those paid by the bank, was €342 million (up 12.7%).
Return on equity (ROE) reached 17.7%, 221 basis points higher than a year ago.
The Bankinter group's profit was €844.8 million last year, an increase of 50.8% compared to 2022 and a record in its history.
MP/ADB // ADB.
Lusa
