The subsidiary provides Bankinter with a direct perspective of the European market, greater knowledge of the international markets and a more in-depth and overall view of activity trends in the private banking sector, which is constantly evolving and growing and is key to the Group's business strategy.
In 2018, Bankinter Luxembourg continued working on the consolidation of its team, which hired new recruits, and adapting to the new and ever-increasingly demanding regulatory requirements.
From a commercial point of view, activity stepped up in countries in which Bankinter is present and there was a high rate of growth in terms of customer lending.
Specifically, the balances drawn down in terms of credit facilities increased by 30% in 2018. At 31 December, all lines were guaranteed with collateral, the coverage ratio was 215% and there were no nonperforming loans.
Assets under management on this date came to €2,887 million, almost 10% up on year-end 2017.
The objectives of Bankinter Luxembourg for 2019 are: continue increasing the customer base, continue developing the technological transformation plan and consolidating itself as one of the main players in the Iberian market.
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