In 2017, Bankinter further strengthened the high quality of its assets, which is one of its main hallmarks in relation to risks, and maintained its trend of moderate growth in loans against a favourable economic backdrop.
Risk management is one of the central cornerstones of Bankinter's competitive strategy. The Bank has a risk management model of proven effectiveness that is in line with regulatory standards and best international practices, in proportion to the scale and complexity of its business activities.
The ultimate responsibility for risk management rests with the board of directors, which approves the risk strategy and, in particular, defines the risk appetite framework, which establishes:
The risk strategy is divided into categories:
It was a very intense year for regulation and supervision, and required a major commitment of resources, as new regulations came into force, preparation was made for the introduction of others and major transversal supervision exercises were carried out. Among the projects undertaken, the following are of particular note:
Adaptation to the new IFRS 9 accounting standard. This was the project in 2017 with the greatest scope and the one which required the greatest effort. It involved the updating of all provisions models, the development of new models and procedures for the determination of the significant increase in risk and the projection of expected losses over the lifetime horizon of the transactions under different macroeconomic scenarios. This also translated into the construction of new IT systems for the classification of exposures, calculation of coverage and its accounting recognition. The adaptation will be in full operation from 1 January 2018.
Review of internal models. An assessment was made during the year of the governance and management of Bankinter's internal models, within the framework of the ECB's TRIM (Targeted Review of Internal Models), the objective of which was to ensure compliance with the regulations and to harmonise their interpretation and the supervisory practices in relation to models. The results of the review were satisfactory and enabled lines of improvement to be identified and embarked upon, to a large extent linked to the standardised interpretation of the regulations.
Compliance with data aggregation standards. Bankinter made a major effort to adapt its IT infrastructure in order to satisfy the principles of risk data aggregation (RDA), full compliance with which is required before the end of 2018. RDA is the standard approved by the BCBS to improve the capacity of banks in the treatment and reporting of risks, with the final aim of improving their decision-making and management.
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