Openbank obtained a net profit of 7.8 million in the first half, 11% more

MADRID, 10 Oct. (EUROPA PRESS) -

Openbank obtained a net profit of 7.89 million euros in the first half of the year, a figure that represents 11% more compared to the same period of 2021, as reflected in the primary public financial statements of credit institutions published by the Bank of Spain.

By income, the interest margin increased by 6.54%, to 73.6 million euros, while fee income increased by 23.79% in the period, reaching 10.15 million euros. The gross margin reached 70.58 million euros, 8.62% more.

As for the balance, customer deposits stood at 14,108 million euros, 13.5% more than in the first half of 2021; customer loans increased by 51.2%, to 1,696 million euros.

The entity, in statements to Europa Press, has indicated that, during the period, there has been a "good execution" of the strategy launched in recent years. Thus, he highlighted the "strong growth" in both mortgages and loans and in the insurance segment, products that are sometimes marketed linked to mortgage loans.

Openbank has also highlighted the growth that its 'roboadvisor' has experienced in the first half, as well as the commissions associated with this investment product, and has also underlined the "strong control" of credit risk that allows the digital bank to maintain costs of credit and "very low" delinquency ratios.

Santander's digital bank is part of Digital Consumer Bank, one of the banking group's business segments. This unit, which also includes Santander Consumer Finance, achieved ordinary attributable profit of 572 million euros, 18% more than in 2021 and a 16% increase in constant euros.

Openbank offers current accounts, cards, loans, mortgages, a 'roboadvisor' service and an open platform of 'brokerage' services. Currently, it carries out its activity in Spain, the Netherlands, Germany and Portugal, and is working on its expansion throughout Europe and America.