Bankinter steps up the capture of business for its star commercial retail banking products, with growth in mortgages and salary accounts

Bankinter beats its record for mortgages in the first quarter of the year, with nearly one billion euros of new business.

The bank's Salary Accounts increased by 25%, to over 13.5 billion euros.

Bankinter had a record breaking first quarter in commercial retail banking, its products and services for individuals. Uptake of two of its star products - mortgages and interest-bearing accounts, led by its Salary Accounts - rocketed.

New mortgage business increased by 44%, with a quarterly record of nearly one billion euros, at 932 million euros. In comparison, this figure stood at 647 million euros at the end of March 2020, while in March 2019, before the pandemic, it was 623 million euros.

Bankinter is continuing the strong growth in mortgage business seen in the final quarter of 2020, 922 million euros. It has now recorded two consecutive quarters of record mortgage business.

This gives Bankinter a 6.5% share of new business, outperforming its natural share. Fixed rate mortgages predominate in this new business, representing 77% of the total volume. Continuing the prudent risk policy the bank has always pursued, the loan to value ratio (the ratio of the loan to the total value of the property) for the mortgages is 62%.


The bank's total residential mortgage portfolio grew by 3.2% in Spain (excluding EVO Banco), to 27.9 billion euros at the end of the quarter.

The Salary Account was another outstanding performer in commercial retail banking, with the current balance of these accounts increasing by 25% in year-on-year terms, to 13.5 billion euros, a record since their launch in 2012.

Bankinter has maintained the interest conditions for this product since its launch. The bank's Salary Account and other interest-bearing accounts continue to offer customers up to 5% APR during the first year and up to 2% APR in the second year, with a maximum interest-bearing balance of 5,000 euros.

In 2020, following the outbreak of the pandemic, the bank lowered the minimum monthly income required for the benefits associated with the Salary Account, from 1,000 euros to 800 euros, so that existing and new customers can continue enjoying conditions that include no maintenance fees for the account, free withdrawals from 17,000 ATMs throughout Spain, free credit cards, and free transfers in Spain from the bank's website.