Bankinter posts earnings of 812 million euros through September, up 11%, with strong business growth and a healthy balance sheet

Throughout the third quarter of 2025, Bankinter Group pressed ahead with the commercial strategy it has been pursuing throughout 2025, focused on building stronger relationships with existing customers, attracting new business and, as a result, achieving profitable growth in relation to the bank’s market share across all the countries and activities in which it operates. All of these efforts led to a strong revenue performance, which reached record levels supported by efficiency (cost-to-income) measures and a healthy balance sheet.

More precisely, at 30 September 2025, Bankinter Group reported a pre-tax profit of 1.1 billion euros, up 5.6% year on year, and net profit of 811.5 million euros, up 11% on the third quarter of 2024. Notably, this represents a faster growth rate than that recorded at the same date in 2024 versus the preceding year (+7%).

Key ratios on the income statement include profitability, at record levels, with ROE (return on equity) of 18.2%, compared with 17.9% in 2024, and ROTE (return on tangible equity) of 19.4%, thus maintaining Bankinter’s leading position in the banking sector.

Capital and solvency also remained very strong, with a CET1 capital ratio of 12.94%, 38 basis points higher than a year ago and nearly five percentage points above the minimum regulatory requirement currently set for Bankinter by the ECB, which stands at 7.95%.

In terms of efficiency, the bank continued to lead the sector, with a cost-to-income ratio of 36.2%.

Notably, the non-performing loan ratio improved by 17 basis points compared with 12 months ago, to reach 2.05%, with a coverage ratio of 70%, more than one percentage point higher than a year earlier.

All these strong figures were confirmed by the stress tests carried out on Europe’s main banks by the European Banking Authority (EBA), working alongside with the ECB. The results, published in August, showed Bankinter to be the most resilient listed bank in the euro area and the one that would sustain the smallest impact on its capital under the adverse scenario considered (just 55 basis points).

Key balance sheet figures.

As of 30 September 2025, the Group’s total assets amounted to 128.7 billion euros, representing an 8.7% increase on the same period of the previous year.

The impressive commercial activity carried out by the bank has led to growth across all balance sheet items.

The customer loan book stood at 82.5 billion euros, up 5.3% from a year earlier, amid fierce levels of competition.

Customer funds, which include both retail funds and off-balance-sheet managed funds, stood at 151.1 billion euros, up 11% year on year. Within this category, retail funds (mainly deposits and current accounts) amounted to 85.3 billion, up 4.9%. Meanwhile, off-balance-sheet managed funds (own investment funds, third-party funds, pension funds, wealth management, SICAVs and alternative investment) experienced record growth within the sector to reach 65.8 billion euros (+19.9%).

Income statement figures

Bankinter Group’s strong commercial performance, coupled with its strategic focus on high-value customers and successful diversification strategy, have allowed it to maintain robust margins in the income statement.

The growth in business volumes to have arisen from this strategy has offset the negative impact of prevailing interest rates on net interest income, which was down 3.5% year on year to 1.7 billion euros. However, the trend has been steadily improving throughout the year, with net interest income showing positive progress in each of the three quarters of 2025, supported by the reduction in deposit costs.

The decline in the year-to-date net interest income has been more than offset by the increase in other activities such as asset management, securities brokerage, corporate transaction services, and insurance, all of which have performed strongly. All of these are value-added businesses that command higher fee income.

These net fees (the difference between those charged and those paid to partners from the Agent Network or Partner Banking) amounted to 577 million euros, up 10.6% year on year.

As a result, gross operating income, which includes all sources of revenue, came to 2.3 billion euros at the end of September, marking a 4.7% increase on the same period of 2024.

Meanwhile, profit amounted to 1.4 billion euros, up 2.1%, after absorbing operating expenses of 815 million euros during the period. This increase is largely due to a more even distribution of costs throughout the period, thus avoiding their accumulation in the final stretch of the year.

The uptick in revenue growth is allowing the bank to maintain an excellent cost-to-income ratio, which currently stands at 36.2%.

Bankinter’s leadership in efficiency (cost-to-income) has been further strengthened by its drive for innovation and digital transformation, predicated on a highly selective investment strategy in generative artificial intelligence and cloud-based solutions aimed at improving productivity and operational scalability, where significant progress is already being seen.

Geographical diversification: Stronger momentum in Portugal and Ireland.

A highly customer-focused commercial approach, differentiated products, and a strong drive to attract business amid the prevailing uncertainty are the factors supporting the profitable growth the bank has achieved across all activities and geographies.

It is in the Spanish market where Bankinter concentrates most of its activity—accounting for up to 87% of customer business volume—and where most of the Group’s income is generated: 84% of gross operating income. At the end of September, the bank continued to show growth across all items of the income statement in this market.

More precisely, the portfolio in Spain totalled 67 billion euros, representing year-on-year growth of 4%. Retail customer funds grew at a similar pace, reaching 77 billion euros. Off-balance-sheet managed funds, together with assets under custody, recorded a remarkable 17% increase over the same period, reaching 139 billion euros.

Income before taxes for the business in Spain stood at 955 million euros at 30 September, up 6%.

The Group’s second market in terms of both business volume and earnings is Portugal, which closed the third quarter with a portfolio of 11 billion euros (+11% YoY) and customer funds—both wholesale and retail—of 10 billion euros (+5% YoY). Notably, off-balance-sheet managed funds plus assets under custody increased by an even more impressive 23%, reaching 11 billion euros, reflecting strong commercial forward momentum and a clear focus on higher value-added products. Bankinter Portugal’s pre-tax profit amounted to 157 million euros, up 2%, even after absorbing higher expenses from investing in new projects, and due to the new approach of spreading costs over all quarters of the year.

Looking at the business in Ireland, the pace of growth is much higher still. The portfolio grew by 20% year on year to 4.4 billion euros, of which 3.4 billion relates to mortgages (+23%), while the remainder pertains to consumer lending, and with an NPL ratio of 0.3% for the overall book. Ireland’s gross income was 14% higher, far outpacing the growth seen across the Group’s other markets, with a pre-tax profit of 34 million euros, representing growth of 17%.

Business lines and customer segments.

Bankinter’s income statement at the end of the third quarter is the result of a disciplined strategy of profitable, sustainable and balanced growth across all lines of business.

Starting with the Corporate & SME banking division, the portfolio ended the period at 35 billion euros, up 5% from the figure reported at 30 September 2024. Zooming in on Spain, loan growth was 4.3%, compared with 2.5% for the wider sector, according to August data from the Bank of Spain, showing that Bankinter continues to gain market share.

It is worth noting that 32% of the loan book relates to International Business activity, which grew by 9% in the period, showcasing the bank’s outstanding positioning in this segment, where it has already become a benchmark within the sector.

As for the bank’s business with individuals, as reflected in the figures for Wealth and Retail Banking, growth has likewise been significant across all product categories: financing, savings products and loan products.

Bankinter managed total assets (accounts, deposits, off-balance-sheet managed funds, and assets under custody) of 149 billion euros at the end of September, marking a 16% increase year on year. Of that amount, 80 billion relates to clients in the Wealth Management segment, which includes the bank’s highest net worth customers, compared with 70 billion a year earlier; while the remaining 69 billion relates to Retail Banking, up from 59 billion a year ago, including EVO funds.

In the year to date, total assets in Wealth and Retail Banking have increased by 16 billion euros, of which 7.5 billion represents new equity inflows, with the remainder being due to market effects.

Focusing on lending products, the mortgage business delivered a strong performance during this period, following an improvement in market conditions. Bankinter’s mortgage book stood at 38 billion at the end of September, up 5% from a year earlier, outperforming the sector average across all domestic markets where the bank operates. Growth has been particularly strong for the mortgage book in Ireland (+23%) and Portugal (+11%).

The bank’s new mortgage production at the end of September amounted to 4.9 billion euros, compared with 4.2 billion generated in the same period of 2024. This reflects a market share for Bankinter of 6% in each of the three countries where it operates this business.

As for retail funds, there was a strong performance by payroll accounts, as a product that plays a pivotal role in attracting new customers and has been a central focus of Bankinter’s commercial activity. The balance of payroll accounts at the end of the third quarter of 2025 stood at 13.5 billion euros, up 7% year on year.

Special mention should go to the strong performance of the asset management business throughout the year. Total off-balance-sheet managed funds amounted to 65.8 billion euros, up nearly 20% year on year. This figure includes the Group’s own investment funds, at 19 billion euros (+25.5%); third-party investment funds, at 27.8 billion euros (+21.3%); pension funds and insurance products, at 4.9 billion euros (+12.3%); wealth management and SICAVs, at 8.9 billion euros (+16.3%); and alternative investment, at 5.3 billion euros (+7.9%).

The portfolio of assets under custody, including both fixed income and equities, amounted to 84.3 billion euros, up 16% year on year.

Important note: The financial information contained in this document has been prepared in accordance with International Financial Reporting Standards (IFRS). This document also includes certain Alternative Performance Measures (APMs), as defined in the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authority (ESMA) in October 2015 (ESMA/2015/1415). Bankinter uses certain APMs, which have not been audited to allow users to better understand the Company’s financial performance. APMs should be regarded as additional information. They do not replace financial information prepared under IFRS.

Furthermore, the way in which Bankinter defines and calculates these measures may differ from other similar measures calculated by other companies and, therefore, may not be comparable. The ESMA Guidelines define APMs as a financial measure of historical or future financial performance, financial position or cash flows, other than a financial measure defined or specified in the applicable financial reporting framework. To learn more about the APMs used and the reconciliation of certain indicators, please see the relevant quarterly financial report of Bankinter, which can be found in Excel format on its website under Shareholder and Investor Relations/Financial Information/Quarterly Financial Reports.