The Chairman of Bankinter highlights a 36% increase in dividend with respect to last year to the Shareholders Committee
The pay-out of the company is situated at 50% and is distributed entirely in cash as part of a prudent policy that enables the regulatory criteria to be comfortably fulfilled
The CEO of the bank foresees a more efficient and more profitable bank for 2016, that is bigger in size, and also points to the acquisition of the business of Barclays in Portugal as key for the success to continue.
The Chairman of Bankinter, Pedro Guerrero, emphasised today, in his speech to the General Shareholders Committee, that the bank will distribute cash in the form of dividends of 50% of the financial results again this year. Dividends increase by 36%, by contrast with last year. According to Guerrero, this dividend is part "of a prudent policy that contributes to the conservation of capital and that enables the company to maintain a suitable level of solvency" so that it eminently meets the criteria of the European Central Bank.
The Chairman highlighted that the Bankinter stock was once again in 2015 “the best of listed Spanish banks” despite the stock market fluctuations of the sector. And he added that, since 2012, "it has multiplied its market capitalisation by three and a half times". And, on a European level, it has been the “best performing” Eurostoxx 600 bank in the aforementioned period.
Similarly, he highlighted the peculiarity that the annual record profits have been achieved “with a growth in credit investment and in the number of employees, going against the trend in the sector”.
With regards to the pillars of growth of the bank, he pointed to various areas of business that have grown by 5.4 billion euros in new net worth, among which is Private Banking. He also stated that the objective of Bankinter is to become the leading company in the Spanish market in this sector.
Furthermore, the CEO of Bankinter, María Dolores Dancausa, singled out, in her speech, that she is convinced that the bank will finish 2016 a more efficient and more profitable company than the previous year, one that is bigger in size, both in terms of customers and of investment volume, resources, and also of income.
Among the milestones reached in 2015 that will be key to future success, Dancausa highlighted the purchase of the retail business of Barclays in Portugal, a decision that, in her view, has increased the options of the bank "to grow by acquisition and to grow outside of Spain, without changing our strategy or the principles with which we operate".The CEO of Bankinter added that “the repercussions of the operation on the balance sheet of the company, on its income statement and on its solvency level are perfectly feasible and enable us to create value from the outset”.
Maria Dolores Dancausa dedicated the first part of her demonstration to emphasising the financial results of the bank in 2015, which she stated are “the best in its history and have displayed great quality and strength”. The sectors that have contributed to the bulk of these results include: Corporate Banking, that reached its highest level of investment this year; Private Banking and Personal Banking, as part of the individual business; and Consumer Financing activity.
Dancausa emphasised external reasons as causes of this success, such as the good progress of the economy, the monetary policy of the ECB and low crude oil prices; but, above all, internal causes: people coming to the bank, past investments that are beginning to bear fruit, and the improvement of the control systems that are of utmost importance for maintaining the balance between growth and risk.
Innovation and digital banking
The CEO of Bankinter dedicated a great deal of space to analysing the challenges of the technological revolution in the finance industry, that affect "much more than all the previous transformations in our customer relations". In this sense, she highlighted the importance of correctly selecting investments in the digital world. As a result, she revealed the creation of a specific area, under her supervision, with a mission to analyse trends, monitor projects and continually calibrate the profits obtained from said investments.
Besides the approval of the year's dividends, the Bankinter General Shareholders Committee has approved all the agreements included in its agenda. Prominent among these, it is important to point out the approval of annual financial statements, the re-election of Gonzalo de la Hoz and Jaime Terceiro as independent external chairpersons, and the election of PwC as the new auditor of the accounts of the company and of its consolidated group for 2016, 2017 and 2018.