Bankinter has reported its financial results for the first quarter, with an increase in net profit to 200.8 million euros, up 8.7% from the previous year. The bank fully accounted for the special banking tax in this quarter, which increased by 23% to 95 million euros.
The growth was attributed to a rise in volumes, successful management of spreads, and a focus on high-value customer segments. Total income for the quarter increased by 6.9% to 658.7 million euros, with net interest income rising by 10.6% to 577.7 million euros and net commissions improving by 8.5% to 165.8 million euros. Operating expenses also rose slightly, with personal expenses increasing by 5.2% and administration expenses growing by 6.5%.
Provisions and losses due to asset impairment decreased while increasing respectively as non-performing loan ratio increased slightly to 2.23%. The return on tangible equity improved to 18.42%. Additionally, Bankinter enhanced its CET1 capital ratio by a significant margin of 36 basis points to reach a new level of