Bankinter reports 12% increase in profit to 605 million euros, driven by growth in customer business, greater diversification and strong profitability
The Bank continues to build an increasingly profitable and diversified customer business: the loan book increased by 4.6%, retail funds by 2%, and off-balance-sheet managed funds by 20.3%, reflecting its strategy of focusing on value-added products.
Higher business volumes, coupled with disciplined cost management and commercial execution, drove improvements across all key income statement metrics: net interest income rose by 5.4% and gross operating income was up 7.3%, supported by strong growth in value-added fee income.
The strength of the business model and the quality of the Bank’s assets continue to be reflected in its key performance indicators, with a return on equity (ROE) of 19.1%, a ROTE of 20.4%, a cost-to-income ratio of 34.3% and a non-performing loan (NPL) ratio of just 1.92%.
Bankinter Group ended the first half of the year with some compelling results, supported by growth in customer business volumes, diversified sources of income and disciplined cost management. Commercial momentum across all geographies and business lines, coupled with prudent risk and capital management, has enabled the Group to continue delivering sustainable results and creating value for shareholders.
Accordingly, as at 30 June 2026, Bankinter Group reported profit before tax of 853 million euros, up 11.4% year on year, and net profit of 605 million euros, up 11.7% year on year.
Among the Group’s key income statement ratios, profitability once again outperformed, with ROE (return on equity) of 19.1% and ROTE of 20.4%, both among the highest in the European banking sector.
Credit quality also continued to improve, with the non-performing loan (NPL) ratio dropping to 1.92%, 22 basis points lower than a year earlier, alongside a coverage ratio of 69.2%.
As regards its CET1 capital ratio, Bankinter ended the period at 12.91%, well above the minimum requirement currently set by the ECB, which stands at 8.58%.
The Bank’s cost-to-income ratio, one of the most distinctive and highly valued features of its business model, improved significantly to 34.3% compared with a year earlier, thanks to disciplined cost management, the use of generative AI in the Bank’s internal processes to boost productivity, and a more streamlined organisational structure.
Balance sheet data
At 30 June 2026, the Group’s total assets amounted to 140,933 million euros, up 7% year on year.
The loan book increased by 4.6% to reach 87,153 million euros.
Customer funds and assets under management ended June at 162,085 million euros, up 9.6%. Within this total, retail customer funds rose by 2%, while off-balance-sheet managed funds (including the Bank’s own and third-party mutual funds, pension funds, wealth management, SICAVs and alternative investments) continued the strong trend seen throughout the year, climbing 20.3%.
Meanwhile, assets under custody amounted to 94,693 million euros, up 17.8% year on year.
Income statement margins
All income statement margins showed an improvement on the previous year, driven by stronger commercial momentum, a strategic focus on key activities and customer segments, a favourable interest rate environment, and international markets making an increasingly significant contribution to the bank’s business volumes.
Net interest income maintained its upward growth trajectory on the back of higher business volumes and effective customer spread management, rising by 5.4% to reach a year-to-date total of 1,160 million euros, with an especially strong second quarter that outperformed each of the previous six quarters.
Gross operating income —essentially the Group’s total income— followed a similar trend, rising 7.3% to 1,603 million euros, driven by the strong performance of fee and commission income, which also delivered an outstanding result for the second quarter.
Fee and commission income totalled 548 million euros at the end of June (+15.5%), driven by strong growth in businesses such as asset management, securities brokerage, securities custody and transactional banking, as well as significant income generated by the bank’s alternative investment activity.
After deducting fees and commissions paid to partners of the Agent Network and Partner Banking from the total tally, the net figure amounted to 440.4 million euros, almost 16% higher than in the first half of 2025.
Meanwhile, operating expenses for the first half of the year amounted to 550.6 million euros, up 2.7% year on year. This moderate increase remained below the growth seen in income and, once deducted from gross operating income, yielded a profit line of 1,052.4 million euros, up 9.8% on 30 June 2025.
Profitable and diversified growth
Bankinter’s distinctive and readily recognisable commercial strategy, together with its strong brand positioning, has driven significant growth in both customer acquisition and business volumes. More precisely, total customer business volumes, comprising lending, retail customer funds and assets under management, reached 249,238 million euros, 7.8% higher than a year earlier.
By geography, business volumes in Spain increased by 7% overall. The loan book amounted to 70,500 million euros, up 3% in the reporting period, driven primarily by growth in the Businesses segment. Meanwhile, retail customer funds, together with off-balance-sheet managed funds, increased by 9% to reach 147,000 million euros. Lastly, assets under custody grew by 17% in the reporting period to reach 89,000 million euros. Bankinter Spain reported profit before tax of 716 million euros for the first half, up 11% compared with a year earlier.
Portugal is the Group’s second-largest market by business volumes and income and continues to perform very strongly, with its loan book rising 8% during the period to reach 11,500 million euros. Retail customer funds and off-balance-sheet assets under management increased by an even stronger 12% to 15,000 million euros. This growth figure was in turn surpassed by assets under custody, which were up 29% year on year to 6,000 million euros.
Gross operating income in Portugal increased by 10%, while profit before tax reached 114 million euros, up 9% on the first half of 2025.
Looking at Ireland, the strong performance of the lending business continues to be particularly noteworthy, including both mortgages and consumer finance. The loan book in this country stood at 5,200 million euros at the end of June, 24% higher than a year earlier. Of this total, around 4,000 million euros related to mortgages, which were up 29% in the year, while consumer lending accounted for 1,000 million euros, up 8%. Notably, the product catalogue of Bankinter Ireland includes deposit products as of 2026, with the bank having attracted close to 100 million euros in customer funds to date.
Business lines and customer segments
Turning now to the Bank’s various business lines, Corporate & SME Banking ended June by delivering another strong performance, supported by its strategy of further specialising its activities. Its loan book totalled 39,000 million, having grown by 7% in the reporting period. Looking solely at Spain, this figure is nearly twice the sector's growth rate. These figures reflect the strong commercial momentum across the various customer segments served by this business. International Banking’s loan book also performed strongly, reaching 12,000 million euros, up 12% year on year.
Meanwhile, the Wealth Management & Retail Banking segment, which encompasses activity with individual customers, continues to pursue a strategy of prioritising margins and capital.
In the mortgage business, for example, Bankinter continues to take a disciplined approach to profitable growth and remains selective in its lending, with activity increasingly concentrated in markets such as Portugal and Ireland, where portfolio yields and business potential are higher, and where new lending increased by a combined 19%.
Across the Group as a whole, new mortgage lending totalled 2,900 million euros in the first half of the year, down 16% on the first half of 2025, although activity picked up in the second quarter compared with the first.
In this context, the mortgage loan book grew by 3% over the period to 39,000 million euros.
In the mortgage business, particular note should be made of the recent announcement of the acquisition of Tulp Hypotheken Group, a Dutch mortgage origination and financing platform. The acquisition expands Bankinter’s geographical footprint into a fifth market and will enable the bank to accelerate growth in a business in which it has extensive expertise—the mortgage market—in a mature market such as the Netherlands.
Turning now to customer funds, balances in payroll and digital accounts—two of the bank’s strongest products for attracting new customers—stood at 24,000 million euros at 30 June 2026, up 20% year on year.
The asset management business delivered another very strong performance in the period, maintaining the trend seen over the previous two years, with assets under management growing by more than 20%. The largest contribution came from third-party mutual funds distributed by the bank, which totalled 32,048 million euros, up almost 24%. Meanwhile, the Bank's own mutual funds reached 21,300 million euros, up 19%.
Pension funds increased by 18.4% in volume to reach 5,462 million euros. The wealth management and SICAVs business totalled 10,460 million euros, marking an increase of 22.3%. Turning to alternative investments, the volume of equity amounted to 5,439 million euros, which is almost 5% higher than a year ago.
Alternative investments are a business in which the bank is a leading player in the Iberian market and one that is set to gain an increasingly strong presence across Europe, following the transactions announced by Bankinter Investment in the first quarter, both of which remain subject to the relevant regulatory approvals: the integration of its asset management company with that of Plenium Partners SGEIC, and the acquisition of a stake in the French firm Access Capital Partners.
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, they 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. Please refer to the corresponding Bankinter quarterly financial report in Excel, available on the Bankinter website under Shareholders and Investors / Financial Information / Quarterly Financial Reports, for details of the APMs used and the reconciliation of certain indicators.
