News
Joaquin_Calvo-Sotelo_Director_de_Banca_Patrimonial_de_Bankinter_imagen_grande.jpg__1638443337514.jpg

Bankinter boosts its Private Banking business and reaches 49,000 million euros in assets under management as of December

The entity is incorporating the Private Banking businesses and its Network of Agents into the same division, as well as—operationally—Bankinter Luxembourg, with the aim of improving the efficiency of the service and the customer experience.

Bankinter Private Banking is aiming to achieve a 40% growth in its Profit Before Tax by 2024.

Bankinter has reached 49,000 million euros in assets under management among its Private Banking customers, over 80% of which are off-balance sheet assets, and it has also reached more than 48,000 customers. Growth in equity compared to the end of 2020 stands at 14.5%.

To assist and advise these customers, the entity has a total of 46 specialised centres distributed throughout the country, where a workforce of 207 private bankers provides its services, with an additional 356 financial agents focusing on this business.

In order to boost its Private Banking business, which is a strategic activity for the bank, the entity has integrated the Private Banking and Agency Network businesses into the same division, led by Joaquín Calvo-Sotelo, as well as—operationally—Bankinter Luxembourg. Until now, although all of these areas are focused on offering specialised services to high net worth customers, they all operated under different managers. By doing so, the entity aims to improve the efficiency of the service, as well as the customer experience, by streamlining decision-making and, as a result, our response to customers' requirements in the current environment, where speed is key.

Bankinter has a growth objective for its Private Banking business of more than 40% in Profit Before Tax by 2024, based on an expected growth in Total Assets under Management of more than 20%, and an investment growth of 40%, also over three years.

We aim to be a benchmark in the private banking business with an integrated service.

Bankinter Private Banking offers management and advisory services to customers with assets of more than 1 million euros in investible liquid assets, taking an integrated approach to managing relationships, which is one of the things that makes the bank stand out. In the words of the director of the bank's business division, Joaquín Calvo-Sotelo, "what makes our strategy stand out is the fact we are able to consider absolutely all of our customers' requirements, not only the specific requirements that are usually addressed by a private banking entity: financial-tax proposals, real estate services, estate planning, mortgage financing either for the customer or their family, etc.."

In addition, the entity has launched a new customer categorisation system using Big Data and incorporating algorithms with the current attributes and future value of customers, using all this data to develop models that allow customers to be classified based on their requirements and not their assets in order to offer every customer a tailored service.

Related documents
2022-02-09 17:48:18.0
2022-02-09 17:48:19.0
2022-02-09 17:48:20.0