Bankinter in Portugal increases pre-tax earnings by 54% to 78 million – Observer
Bankinter Portugal increased pre-tax earnings by 54% in 2022, hopefully with €78m for parent company profits in Spain. The group considers the performance of the Portuguese unit to be “very positive” and underlines that “the volume of business managed has continued to grow since the bank arrived in the country”, which took place in 2016 with the purchase of the commercial banking business of Barclays.
“Adding on-balance sheet resources, off-balance sheet resources and credit, Bankinter Portugal reaches 18,200 million euros in turnover, compared to 11,400 million euros in 2017”, indicates the bank in a press release released this Thursday. fair . Loans grew 15% to 8,000 million euros and customer funds rose 9% to 6,400 million euros, adds the statement.
The results were presented in greater detail at a press conference this Thursday in Spain. At that press conference, the chairman of the group Maria Dolores Dancausa highlighted the Portuguese operation as a “success story in Portugal” – “it is a bank that has won a magnificent witness in the country”.
At the Portuguese unit there was a 35% increase in the interest margin, a 25% increase in the gross margin and a 47% rise in the margin before provisions. “All this translates into a profit before tax of 78 million euros, 54% higher than in 2021”, says Bankinter, which at a consolidated level (including the main operation in Spain) achieved profits of 560 million euros in 2022, 28% more than in the previous year.