Spanish bank Bankinter has closed 2024 with a net profit of 953 million euros, representing an increase of 13% compared to the previous year. This achievement is due to increased commercial activity and a diversification strategy that has strengthened its presence in international markets such as Portugal and Ireland.
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Bankinter has demonstrated a remarkable ability to adapt to changing financial market conditions, achieving increase its gross margin by 9,1%. This increase reflects the growing contribution of its operations in Portugal and Ireland, which now represent 15% of the Group's total gross margin. The entity has managed to overcome the challenges posed by the negative trend in interest rates thanks to a significant increase in business volumes both in lending and in off-balance sheet assets.
The bank has reached a Profit before tax of 1.360 billion euros, which represents an increase of 10,7% compared to the previous year. This improvement is also reflected in the various financial ratios: the return on equity (ROE) now stands at 17,9%, while the ROTE reaches 19%, thus exceeding last year's figures.
La geographic diversification strategy and by type of business has been key to these results. In Spain, including EVO Banco, Bankinter achieved a pre-tax profit of 1.219 million euros, increasing its credit portfolio to XNUMX million euros. 66.000 million and off-balance sheet managed resources up to 122.000 million, representing an annual growth of 20%.
En Portugal, the credit portfolio closed the year with 10.000 million and assets under management grew by 14%, reaching historic figures for this subsidiary. Pre-tax profit increased by an impressive 18%, standing at 195 million.
Ireland The loan portfolio also showed strong growth, with credit investment growing by 27% annually, reaching 3.800 billion euros. Within this segment, the mortgage portfolio stands out, with a growth of 31% compared to the previous year.
La Commercial Bank remains one of Bankinter's key pillars, contributing significantly to its total revenues thanks to its active and efficient management of client assets, which increased to €127.000 billion this year.
On the other hand, Bankinter Investment has consolidated its leadership in alternative investments by launching new structured vehicles with more capital committed by an ever-growing investor base.
Finally, it is worth highlighting how Business Banking continues to expand positively, maintaining high rates within the sector, both nationally and internationally, relying mainly on innovative products.
