Bankinter Consumer Finance breaks a record with over 1 billion euros in consumer loans

The Bankinter affiliate increased new lending by 40% in less than a year.

It is the financial institution that has grown the most this year.

Bankinter Consumer Finance has just hit a business milestone with over 1 billion euros in issued consumer loans at the end of November, beating its own expectations. The Bankinter affiliate has managed to increase its lending to new customers by 39% in less than a year, having ended 2015 with a turnover of 719 million euros.

According recent data released by ASNEF, the Spanish association of credit institutions, Bankinter Consumer Finance is also the financial institution that has grown the most this year. By late June, it was registering a 70% year-on-year growth rate.

This increase is a reflection of Bankinter Consumer Finance’s drive as a reference in consumer lending just as it begins to rebound in an increasingly competitive market.

Bankinter Consumer Finance now has 879,014 customers, up 21% this year alone. 2015 was the turning point in the growth of this financial institution, an important player in Bankinter Group’s business strategy.

‘We are proud to have reached this milestone, exceeding even our own expectations. And, above all, our faith is restored as we see consumer finance getting back on track toward pre-crisis growth. This is a sign that household spending may once again play an important role in our economy,’ said Alfonso Sáez, managing director of Bankinter Consumer Finance.

This wholly-owned Bankinter Group subsidiary manages a wide range of consumer finance products and credit cards (under the brand, Bankintercard), offering customers tailor-made financing that is adapted to their needs at competitive rates.