Bankinter wins a 7.3% more until September and puts your profitability above the sector

Bankinter earned a net profit of 403,6 million euros in the first nine months of the year, representing an improvement of 7.3% compared to the same period last year thanks to the expansion of the business and of all the margins of the account.

The third quarter behaved like the rest of the year, "with profitable growth of the main lines of business, a profitability above the sector" and a continuous improvement of the quality of the assets, as summarized by the bank in detailed information today to the National Commission of the Market of Values (CNMV).

Bankinter continues to stand out with one of the highest returns among the financial institutions, with a ROE, or profitability measure on equity of 13%,which is reinforced by 66 basis points in the period, and managed to time reduce in 52 points in the npl ratio, with the rate limited to 3,20% (2,92% if it refers only to business in Spain).

In the period reduced the portfolio of assets real estate foreclosed from the 470,8 million euros gross to 336,1 billion and maintains provisions that cover the 45.2% of the risk.

The improvement of the benefit is the product of an expansion of the business: its loan portfolio increased by 4.8% and reached 54.750,9 million in contrast with the descent which still accuses the sector in this activity; and the savings of customers managed grows at rates in the double digits. The managed resources of retail customers will increase by 10.7%, up 50.289,7 million, when the sector has grown by just 2.9%.

The portfolio of those managed off balance sheet (in products such as investment funds, pensions and wealth management) at the same time 10.6% to reach 28.546,3 million.

An expansion that is translated into progress in all of the margins of the account, detailing the bank. The interest margin moves 6.7% with 816,3 million, and the gross margin level was 7.5%, up to 1.472,2 million.

Almost a quarter of that last margin, and tends to better reflect the income of the period, is generated with fundraising committees, whose departure grows 7.5% thanks to the momentum and uptake of business.

An evolution that compensates for that item of expenditure is extended, also a 4.6 per cent for investments in the banking activity and in a Direct Line, without leaving to reduce the efficiency ratio that goes from 47.9 to 46.9 per cent.

For the business lines, which further contributes is the Banking Business, which constructs a 29% heading; followed by the banking, retail or individuals (27%), Direct Line (22%), consumer finance (10%) and Portugal, where it already generates 6%.

In Bankinter Portugal has registered increases of 12% in the credit and 8% in resources from clients, up to the 5,300 million and 4.100 million, respectively, and a pre-tax profit of 43.5 million that grows by 75% year-on-year.

In terms of solvency, the ratio of capital more pure or CET1 fully loaded improved by 24 basis points so far this year and sealed September with an average 11.70%.

According to the criteria of