2023-07-20 10:26:33
bankinter registered a net profit of 417.9 million euros throughout the first semester, which is equivalent to an increase of 54% compared to the same period in 2022, as reported by the bank this Thursday when publishing its income statement.
The financial institution has highlighted that this increase has occurred despite the fact that in the first quarter of the year the bank fully paid the payment of the new banking tax, which amounted to 77.5 million euros.
Thus, the total income (gross margin) of Bankinter between January and June were 1,278 million euros, which represents an increase of 33% compared to the start of 2022. Considering only interest income (interest margin), these rose by 60%, up to 1,068 million euros.
The bank, which begins the period for presenting the results of the large entities in the sector in the first semester, underlines in a statement that this period has ended “consolidating growth in all business lines and different geographies in which it operates“. All this is reflected in the increase in margins and profits and in the improvement of all the ratios,
All business lines
At the same time, he highlights that all the business lines, both national and international, present “extraordinary behavior”. He also explains that changes in the economic environment and in customer needs have made the bank refocus its business strategy, currently more focused on value products, which, when well advised, allow for a better return on investment.
Among the different ratios of the income statement, the return on equity (ROE) stands at 15.5% from 10.1% a year ago, with a ROTE of 16.4%. Regarding the ‘CET1 fully loaded’ capital ratio, it reached 12.3%, with a difference of 4.5 percentage points above the regulatory minimum required of the entity, which is 7.73%.
Regarding the ratio of delinquency, this stands at 2.2% compared to 2.1% a year ago, and with a “substantial improvement” in the coverage of said delinquency, which goes from 64.7% 12 months ago to the current 66.3%, the bank has indicated. This NPL ratio is 2.5% in Spain, which compares with sector data for April of this year, according to the Bank of Spain, of 3.55%.
The efficiency ratio as of June 30 improves to 35.4%, which compares with the figure of a year ago, which was 44.4%. If we stick to the data for Spain, this ratio improves to 33.4%.
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And with regard to liquidity, the bank maintains a volume of deposits above the volume of credits, with a ratio of 105.5%, which is above that at the end of the year, which was 102.8%.
The bank’s shares have started the trading session with falls, after knowing the half-year results, which are in line with what the market expected.
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