Bankinter recorded a profit of €473.5 million in the first half of 2024 and the operation in Portugal contributed €102 million before taxes. At the conference to present the half-year results, Gloria Ortiz, CEO of Bankinter, in response to questions from Portuguese journalists, highlighted that the first half of the year in the branch in Portugal was “stupendous” and recorded “significant growth”.
In the first six months of 2024, Portugal’s contribution grew by 20% compared to the same period in 2024.
Gloria Ortiz specified that Bankinter’s business in Portugal has seen significant growth in corporate banking, which stands out for its 25% growth totaling 3.3 billion in the first half of the year.
Credit granted in commercial banking (private segment) grew 6% to 6.1 billion in the same period.
Resources amounted to 8 billion, which represented a growth of 13%.
With regard to the financial margin, there was a growth of 19% to 140 million euros in the period under analysis. Commissions rose 11% to 37 million euros.
In turn, provisions increased by 31% to 20 million euros.
Jacob Diaz, Bankinter’s financial director, told Expresso that the default ratio, bad debt, was 1.3%.
Public guarantee for young people is positive
Regarding the support provided by the current Portuguese government to young people aged between 18 and 35, similar to what exists in Spain, Jacob Diaz, financial director of Bankinter, considers it “positive” and adds that the branch in Portugal is awaiting the measure to “be able to help finance young people”.
The support involves a public guarantee of between 10% and 15% of the value of the financing to be granted by the bank, which corresponds to the money that the client would have to pay as a deposit.
Furthermore, the Spanish bank with a branch in Portugal has once again ruled out making purchases in Portugal. Gloria Ortiz says that the bank has grown well organically and that it will “continue to grow in a sustainable, profitable and efficient manner”.
Regarding investment in digitalization, Bankinter’s CEO says she cannot give figures on the investment, stating that it aims to improve the relationship between the bank and its customers and contribute to greater “efficiency and productivity”.
Source: expresso.pt
