Bankinter Consumer Finance's lending exceeds 4,000 million euros at the end of May
These figures represent growth of 16% so far this year, and 39% growth year-on-year.
Among the geographies in which this Bankinter subsidiary operates, growth in Ireland stands out. Turnover in Ireland has now reached 1,325 million, from cards, personal loans and mortgages.
Bankinter Consumer Finance achieved record turnover of 4,097 million euros at the end of May, beating its own forecasts. This figure is 16% higher than the figure for December 2021, when turnover was 3,527 million euros, and 39% higher than one year ago.
Bankinter Consumer Finance's business is currently divided into: personal loans accounting for 53% of total lending, cards accounting for 30%, and mortgages accounting for 17%. In Ireland, mortgages have only been marketed under the Avant Money brand since the business entered that market two years ago. One year ago, mortgages represented barely 3.3% of Bankinter Consumer Finance's lending. This gives an idea of the strong growth of this business in Ireland and how this activity has changed the overall composition of the portfolio in recent months.
Mortgages have increased by 70% compared to December 2021 and 636% in the last year. The personal loan portfolio also grew by 15% and 26.8%, respectively. Meanwhile, the card business experienced a slight fall compared to December 2021, but is up 6.4% compared to a year ago.
At the end of May, the markets where this Bankinter subsidiary operates recorded revenue from cards, personal loans and mortgages of 2,249 million euros in Spain, 343.8 million euros in Portugal, and 1,325 million euros in Ireland.
The fastest business growth was in Ireland, where lending has increased by 36% since the end of 2021 and 141% compared to 12 months ago. Mortgages have been the engine driving the growth of the business in Ireland. They have emerged as Avant Money's star product and have been well received by the market.
This growth reflects the dynamism of Bankinter Consumer Finance's businesses and the geographic markets in which it operates, focusing in particular on the Consumer segment at a time when this activity has returned to an upwards trend following a difficult period.