Bankinter Reveals 8.7% Increase in Net Profit for First Quarter, Thanks to Strategic Focus on High-Value Customers

Bankinter has just released its financial results for the first quarter, showing a net profit increase of 8.7% from the previous year to 200.8 million euros. The bank fully accounted for the special banking tax in this quarter, which increased by 23% to 95 million euros. This growth was attributed to the increase in volumes, good management of spreads, and focus on high-value customer segments.

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. 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 and increased, respectively. The non-performing loan ratio increased slightly to 2.23%, while the return on tangible equity improved to 18.42%. The bank also improved its CET1 capital ratio by 36 basis points to