The year was shaped by the development of the health and economic crisis caused by the pandemic (with an uneven impact that affected, above all, the hospitality, leisure and transport sectors) and by the gradual recovery of economic activity, supported by the continuation of the extraordinary measures approved by national governments.
In 2021, Bankinter continued to proactively apply the support measures initiated in 2020, as well as the extensions and legislative developments introduced during the year. At the close of the financial year, the figures for moratoriums and public guarantee programmes were as follows:
Legislative and non-legislative moratoria | |||||||
---|---|---|---|---|---|---|---|
Gross carrying amount, thousands of euros | Distribution by phases | ||||||
Number of obligors | Total | Legislative moratoriums | Unexpired moratoriums | 1 | 2 | 3 | |
Households | 1,589,890 | 765,606 | 11,148 | 80.7% | 16.5% | 2.8% | |
Collateralised by residential immovable property | 1,460,992 | 730,043 | 10,159 | 81.3% | 16.9% | 1.8% | |
Non-financial corporations | 461,763 | 461,199 | 23,006 | 81.5% | 7.4% | 11.0% | |
Small- and medium-sized enterprises | 356,587 | 356,023 | 12,577 | 88.7% | 9.6% | 1.7% | |
Collateralised by commercial immovable property | 202,971 | 202,874 | 18,886 | 70.5% | 7.1% | 22.4% | |
Total loans and advances | 22,257 | 2,068,190 | 1,243,342 | 34,153 | 81.0% | 14.3% | 4.7% |
Newly originated loans and advances subject to public guarantee schemes in the context of the COVID-19 crisis | |||||
---|---|---|---|---|---|
Number of obligors | Gross carrying amount, thousands of euros | 1 | 2 | 3 | |
Households | 67,792 | 99.0% | 0.0% | 1.0% | |
Non-financial corporations | 6,424,919 | 93.3% | 5.4% | 1.3% | |
Total loans and advances | 31,073 | 6,523,733 | 93.4% | 5.3% | 1.3% |
Official bodies, particularly Banco de España, repeatedly upgraded their economic forecasts from the end of 2020 through to the third quarter of 2021. This upwards trend slowed in the final quarter of 2021 as a result of supply shortage, higher energy prices and the spread of new variants of the virus. Therefore, there is still considerable uncertainty about the recovery trend.
In this context, Bankinter's loan activity maintained a steady rate of growth in 2021. Loans rose to 68 billion euros, up 5.7% from the previous year. In the Spanish market, loans increased by 3.9%, compared to a decrease of 0.3% in the sector as a whole, with data from November.
Bankinter maintains its risk appetite principles and levels and a prudent risk profile, the management of which is one of the central pillars of its competitive strategy. The bank has a risk management model of proven effectiveness that is in line with regulatory standards and best international practices, in proportion to the scale and complexity of its business activities.
The board of directors is ultimately responsible for risk management. It approves the risk strategy and, in particular, defines the risk appetite framework. The risk appetite framework is an internal governance document that defines:
The Risk Appetite Framework establishes the criteria that govern the group's risk strategy:
Risk appetite statement. Bankinter carries out its activity with a moderate and prudent risk profile. Its objective is a balanced balance sheet and a recurrent and healthy income statement, to maximise the entity's value in the long term.
Risk management principles. The group's risk appetite and tolerance in its activities are subject to the following principles:
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