Bankinter Partner celebrates its 30th anniversary as a unique business model that has distributed €13 million among its 45,000 clients in 2022
A unique business plan based on the partnership between a Bank's business client and the Bank. It allows employees of that business to get access to financial products and service tailored for them, sharing the profits.
The amount of profit-sharing for partner company employees has increased by 56% over the last 10 years and will reach €13 million in 2022 alone.
Bankinter Partner, the pioneering business model that the Bank implements in partnership with companies, is proud to mark its 30th anniversary. The financial year 2022 proved to be yet another milestone for the Bank as it witnessed unprecedented levels of customer acquisition and augmented its on- and off-balance sheet financing, along with the funds under management.
Bankinter Partner has demonstrated exceptional success since its launch in April 1993, and continues to be an innovative and exclusive banking concept. Bankinter's pioneering role in implementing this model in Spain has set it apart from its peers. It is based on an agreement between the Bank and a partner company or partner, through which tailored financial products and services are offered to the partner's employees on preferential terms. A total of 267 companies, including some such as: Accenture, Melia, Hewlett Packard Enterprise, Línea Directa or Bidafarma, are members of this network, as are practically all those represented in Ibex. Last year alone, 15 new companies were added to this list.
Bankinter Partner ended 2022 with more than 45,000 clients and a loan portfolio of €3.3 billion, 6.4% more than the previous year. The average financing balance for its clients has increased by 66% over the last 10 years, reaching a mortgage portfolio worth 1,600 million euros, which has financed the purchase of homes for over 5,400 families.
In addition, the savings and investments held by Bankinter Partner's clients at the Bank (accounts, mutual funds, pension funds, securities, etc.) have increased by 147% over the last ten years, reaching €14.2 billion at the end of this year, including institutional business activities.
One of the special features of this business is that Bankinter distributes part of the profits it earns itself from its financial activities to the employees of its affiliated companies. This distribution is credited to the customer's account once a year and is personalised for each of them according to the products they have with the Bank. Moreover, the amount is completely transparent, because the bank has developed a simulator that allows each client to calculate approximately how much profit they will make by taking out a certain product at their branch, as well as the profit they will accumulate as time passes.
In 2022, the amount distributed to Bankinter Partner's clients was €13 million, compared to €11.5 million in 2021. Over the last 10 years, this amount has increased by 56%.
'Virtual' banking office.
Another feature of the model is that Bankinter and its partner share the management of the branch.
According to the agreement between the bank and the company, a “virtual” banking office is set up where the generated transactions are booked. These offices are recognised by the Bank of Spain as an accounting centre and are for all purposes a branch of the Bank.
One of Bankinter Partner's recent developments is its Institutional Business, which includes activities with CNMV-regulated institutions, and which has seen steady growth in recent years. In fact, Bankinter is the only bank that offers CNMV-regulated institutions a comprehensive service for its clients, which includes custody of investment vehicles and a brokerage service for trading and financing orders.