Bankinter Portugal

Bankinter Portugal

Balanced business growth

Bankinter Portugal's business was carried out in quite a dynamic economic context, with GDP growing by over 2%. The economy's main lever in 2018 was consumption, driven by the strong pace of job creation, which has seen ten percent chopped off the unemployment rate in just five years. This is reflected in greater demand for financing from families and companies, with the subsequent positive impact on returns in the banking sector.

When it comes to Bankinter, 2018 closed with more than 20,000 new customers in Portugal and a balanced improvement in the different business areas. The strong results in Commercial Banking were consolidated, following strong growth in Corporate Banking and Bankinter Consumer Finance ended its first full year in Portugal with very impressive results.

As part of this strong performance, the following aspects were key: the expansion of the functions of digital channels; the launch of new mortgage lending, consumer credit and investment fund options for private customers; the implementation of the Bankinter Broker platform, which provides access to the world's main markets, and the implementation of different programmes to support companies in general, in addition to their international expansion, in particular.

However, over the course of the year, not only income but the visibility of Bankinter grew in Portugal, with almost 1,200 mentions in the media. The awareness index rose by 16.4%, from 42.2% in November 2017 to 49.1% in November 2018. Customer satisfaction also increased substantially, with the NPS index up from 13% in December 2017 to 23.3% in December 2018.

By activity segment, the following is worth note

Retail Banking. Bolstering of the Private Banking team, with the opening of new centres and recruitment of four bankers, the launch of the Partnet Banking and Agent Network. Furthermore, there has been an improvement in remote customer management via Bankinter+. Finally, worth particular mention is the €306M growth in total customer resources, 6.2% up on yearend 2017 and lending portfolio growth of €194 million (+5%).

Corporate Banking. 18% growth in number of customers, which now stands at around 18,643. Growth of €267 million in terms of customer resources (+15%) and €397 million in the lending portfolio (+42%).

Growing commitment to the international business. Involvement in different financial acquisition and structured financing transactions.

Credit activity. The Bankinter Portugal Mortgage has yielded excellent results once again, with production of €512 million (+14%), thanks to a very competitive offer, improved management and a strong media campaign. Consumer lending came to €81 million and 17,000 bankinter cards were put into circulation.

In October 2018, the sale of a nonperforming and written-off loan portfolio worth €360 million was signed off.

Asset management. Portfolio management on behalf of third parties was included in the range of products and services offered, aimed at institutional customer including banks, insurers and pension funds. As a result of this and other business development actions, total assets under management increased significantly, by 6%, year-on-year.

Life insurance. It has been a year of intense activity, culminating with €1,457 million euros in assets, 10% up on 2017. Worth particular mention is the success of the sale of life insurance in the Business and Consumer Lending divisions online.

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