Bankinter earns 271 million until June, 11% more, excluding the capital gain from the operation of Línea Directa

MADRID, 21 Jul. (EUROPA PRESS) -

Bankinter recorded a net profit of 271 million euros during the first six months of this year, 10.8% more than the first half of 2021, despite including four months of income from the insurance company Línea in the previous period. Direct and excluding the extraordinary capital gain that the bank recorded for its IPO.

Taking into account only the net profit from banking activity in both periods compared, the increase is 32%, as reported by the entity on Thursday.

Between January and June, the result before taxes of the banking activity reached 373.9 million euros, which in comparable terms represents 30% more than the previous year.

The group has highlighted that at the end of the first half of the year it consolidates the growth trend shown in previous quarters, thanks to sustained commercial activity in all the businesses and geographies in which the bank operates.

Thus, all business lines and income statement margins, as well as the main indicators, show growth compared to the same period in 2021, which comes to confirm, as highlighted, Bankinter's ability to supply purely banking income for the from Línea Directa, whose spin-off from the bank took place at the end of April 2021.

Regarding the main management indicators, the bank has highlighted that all of them show the solidity and solvency of the entity and the strength of its balance sheet.

Thus, the bank's return on equity, ROE, stands at 11.6%, with a ROTE of 12.3%.

For its part, the 'fully loaded' CET1 capital ratio now reaches 11.9%, well above the minimum threshold required of Bankinter by the ECB, which is 7.726%, the lowest among listed banks in Spain.

As for the non-performing loan ratio, it stands at 2.11% compared to 2.34% a year ago, without noticing, for the moment, according to the entity, relevant incidents derived from the current economic environment, and when the wide Most ICOs have ended their shortcomings.

Likewise, the bank has strengthened the coverage of this delinquency to 64.7% compared to 62.5% a year ago, in order to prevent any worsening of the environment.

The efficiency ratio is reduced to 44.4% from the previous 44.9% and in Bankinter Spain, this ratio stands at 40.5% accumulated to June.

Between January and June, the interest margin reached 665.7 million euros, 4.1% more than in the same period of 2021, with quarterly figures that are above those of recent quarters and with a customer margin that consolidates its upward trend.

For its part, the gross margin stood at 962.8 million euros, with growth of 5.3% in the period.

69% of these revenues come from the interest margin and 32% from the commissions derived from the business activity. The latter add up to a total of 303 million euros in the semester, with a growth of 15% compared to the first half of 2021.

Practically all of this remuneration comes from management, brokerage and advisory businesses, all of which contribute value to clients.

Thus, 102 million euros came from the asset management business, with growth of 11%; 77 million from collection and payment activity, 31% more; and 60 million from the securities business, among others.

Likewise, the operating margin before provisions reached 535.1 million euros, with a growth of 6.1%, after absorbing operating costs of 428 million, 4.2% higher than last year in the same period.

For its part, the total assets of the group reached 111,489.7 million euros at the end of the semester, 8.6% more than a year ago, while the volume of credit investment to customers experienced growth of 8.3% , reaching up to 72,445.9 million euros.

With regard specifically to business in Spain, credit investment grew by 5.6% compared to 0.9% more for the sector with data as of May from the Bank of Spain.

As for retail customer resources, they reached 77,546.8 million euros, 13% more. The growth of these resources in Spain is also 13%, compared to a rise of 5.6% in the sector average, also with data to May.