Q1 2026 Bankinter SA Earnings Call Transcript
Key Points
- Bankinter SA (BKNIY) reported a net profit of EUR 291 million, up 7.6% year-on-year, demonstrating strong profitability.
- Customer volumes increased by 6.5%, with customer lending up 5% and assets under management growing by 17%, indicating robust growth.
- The company maintained a low non-performing loan (NPL) ratio below 2%, showcasing strong asset quality.
- Net interest income grew by 5.5% and net fees by 8%, contributing to a 6.5% increase in gross operating income.
- Bankinter SA (BKNIY) achieved a cost-to-income ratio declining towards 35%, reflecting operational efficiency.
- There was a notable slowdown in deposit growth during the quarter, attributed to a seasonally softer first quarter and active margin management actions.
- Retail funds declined by EUR 3 billion, indicating challenges in maintaining deposit volumes.
- The company faces ongoing geopolitical uncertainty, which could impact consumption and economic growth.
- New mortgage origination in Spain was lower during the quarter due to pricing discipline in a tight margin environment.
- The net interest margin (NIM) remained flat quarter-on-quarter, despite improvements in customer margins.
Good morning, and welcome to Bankinter's first quarter 2026 results presentation. Financial statements were posted with market authorities earlier this morning, and all materials can be found on our corporate website.
Please refer to disclaimer in the presentation and note that this call is being recorded. Today, we welcome our Chief Executive Officer, Gloria Ortiz; and our Chief Financial Officer; Jacobo Diaz. Claudia, over to you.
Thank you, Laurie. Let me start with the key highlights for the quarter, which confirm the strength of our business model, disciplined volume growth, continued margin improvement, a diversified and resilient income base and best-in-class efficiency and risk metrics.
In volatile markets and the environment of geopolitical uncertainty, that combination is not a nice to have. It is what protects earnings power through the cycle.
This quarter, we delivered it once again with growth that is both profitable and controlled, supported by high-quality
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