The quality of its assets is also worth particular mention, with the total NPL ratio below 3% (specifically, 2.90%, less than half the sector average). This percentage drops to 2.84% in the case of Spanish businesses.
The foreclosed property asset portfolio dropped to €348.2 million in 2018, compared to the €411.6 recognised at the end of 2017. Average coverage at 31 December was 44.4%.
Total Group assets at the end of the year came to €76,501.5 million, 8.7% up on 2017, with loans and receivables of €55,469 million (+4.1%) and customer retail funds of €50,583 million (8.9%).
Capital adequacy (measured in terms of fully loaded CET1, or maximum quality capital) improved by 29 basis points compared to 2017, to 11.75%, which compares well with the rest of the bank and is comfortably above the ECB's regulatory requirements for Bankinter.
In terms of liquidity, at the end of 2018, the commercial gap came to €4,000 million, with a deposit-to-loan ratio of 93.8%, i.e. 320 basis points up on 2017.
Outstanding wholesale issues maturing in 2019 and 2020 come to €800 million in each year. To meet these maturities, the Bank has liquid assets of €10,900 million and can issue up to €6,500 million in covered bonds.
All margins grew in 2018. Net interest income came to €1,094.3 million (+5.%); gross operating income to €1,940 million (6.4%); and operating income to €936.4 million (+6.5%). Fee revenues totalled €450 million (+6.2%).
The performance of the main lines of business was as follows:
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