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Bankinter Portugal

Above forecast growth

Bankinter Portugal's business was carried out in 2017, within a context of economic growth, that was largely driven by investment and private consumption. Thanks to this, the high rate of job creation continued, reducing the unemployment rate to 8.5%, far from the 17.5% recorded in 2013. 

The write-down process in the financial sector, has led to a fall in the level of risk of its assets and in a reduction in the financial institutions' installed capacity, which are now showing higher levels of efficiency and productivity. After being absent for the last few years, profit returned to the income statement in 2017. 

It was an excellent year for Bankinter Portugal and its results beat forecasts, especially in attracting new customers. The retail and commercial banking segment attracted 13,768 customers, an increase of 71% on 2016, as a result of increased brand awareness and improved satisfaction indexes. The obtaining of 331 million euros in net new assets, 105% more than the year before, saw the portfolio reach 4.73 billion euros. As a result of the 598 million euros in new loan approvals, 159% more than in 2016, the loan book reached 3.954 billion euros.

The corporate banking segment also saw a 104% rise in the number of new loans compared with last year, despite the market still contracting. At 31 December, the loan book amounted to 1.27 billion euros, with a large contribution coming from the 3,228 new customers (twice as many as last year).

The challenges

The challenges for 2018 involve, in particular, the need to consolidate the progress made in 2017 and replicate the Spanish business model. Specifically they are:

  • Maintain the rate of growth in the number of customers and funds attracted, at the same time as providing an excellent service.
  • Increase loans to companies.
  • Improve the consumer finance business.
  • Create new channels and develop them, with the corresponding investment in technology.
  • Complete the adaptation to the new IFRS 9, MiFID 2 and PSD 2 regulations.
  • Be a benchmark in the Portuguese financial system for customers, employees and the sector as a whole.

Other notable successes in 2017 were:

  • New mortgage loans rose considerably (+198%), increasing the market share in a market where the subsidiary initially had a very small weighting. Bankinter Portugal's share of new lending increased from around 3% in 2016 to 5.7% in 2017.
  • Bankinter Consumer Finance began operating in Portugal, and contributed to a large extent to the growth of 115% recorded in consumer lending.  
  • Bankinter Asset Management had the fastest growth in its sector (+157%) and stood in fourth place for net purchases.

In addition, Bankinter Seguros de Vida is now among the insurance companies with the biggest growth in Portugal.

In its second year of operations in Portugal, it doubled its new lending (341 million euros) , recording the second largest growth in absolute value and becoming Portugal's eighth biggest insurance company.

First place in the Mystery Shopping survey

Bankinter obtained first place in the ‘Mystery Shopping’ survey of banks in Portugal. It achieved an overall score of 91.3%, which was above the market average of 83.4%.

Customer service, with a score of 78%, was once again the area in which Bankinter most stood out against the rest of the market, where the average score was 61.5% (+18.5 pp vs the market).

Bankinter's “Conta Mais Ordenado“ given the “Premio Cinco Estrellas“

Bankinter's ‘Conta Mais Ordenado’ was given the ‘Premio Cinco Estrellas’ (Five Star Award) as the best payroll account, with an overall satisfaction rating of 74.1% in a survey of 1,350 consumers.

The 3 areas where the account most stood out were customer satisfaction (after testing), price-quality relationship and the likelihood of recommendation.

“Línha Bankinter“ wins Trofeo Call Center 2017

The ‘Trofeo Call Center 2017’ (Call Centre Trophy 2017) was won by Línha Bankinter, in partnership with Teleperformance Portugal, in the quality of service in telephone helplines category - 50 positions - an initiative of Call Center Magazine and IFE Portugal.

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