Bankinter's shares soar more than 5% after publishing the results of the first quarter

MADRID, 20 Abr.

Bankinter's shares soar more than 5% after publishing the results of the first quarter


Bankinter's shares soared more than 5% after publishing its first quarter accounts, when it obtained profits of 184.7 million euros, which is 19.7% more than the result registered in the same period of 2022. .

The Bankinter Group started the trading day on the rise, leading the rise of the Ibex 35, with a rise of 5.12% at 9:10 a.m., up to 6.12 euros per share, although minutes later it reduced its momentum to 3.16% , up to 5.99 euros.

Bankinter has indicated that there has been "strong growth" in all its margins, "despite the economic impact of the new tax and a market environment that is not free of difficulties".

Likewise, the entity notified the National Securities Market Commission (CNMV) that at the end of March the profit before taxes was 294.4 million euros, 37.4% more.

The bank has also highlighted that in this first quarter it has assumed the payment of 77 million euros for the new tax rate for the financial sector.

Returning to the margins, the bank has stressed that the growth is the product of the rise in interest rates, the higher volumes of business and a commercial activity more oriented towards investment products, which generate more commissions.

Thus, the interest margin reached 522.2 million euros in the first quarter, which represents a growth of 63.2%. In addition, the customer margin continued its upward trend, especially in the last two quarters, in such a way that it went from 1.82% in the first quarter of 2022 to 2.96% registered at the end of March of this year. .

Gross margin, for its part, stood at 615.9 million euros as of March 31, which represents an increase of 23.3%, and this despite higher regulatory costs, which add up to the equivalent of 14 % of the gross margin, "with special weight of the new tax on banks".

22% of this gross margin came from income from service commissions, which have totaled 153 million euros in these first three months, an increase of 4%, with special growth in commissions from activities such as the collection and payment business and securities brokerage, among others.

Regarding the operating margin before provisions, it totaled 396.3 million euros in the quarter, with a growth of 35.8% in the analyzed period, after absorbing operating costs that rose by 5.7%, although of well below revenue growth.