banking benefits they keep going shot thanks to rate increase Reference is made to the interest rate of the European Central Bank (ECB) to combat inflation, as well as the industry’s decision to delay further payments on its customers’ deposits as long as possible. Banker to win 684.7 million Euro between January and September 59% more compared to the same period last year and 22% more It is more than the 560 million figure it achieved in the whole of 2022. Previous year’s figure higher recurring profits in its almost 60-year history, but will far exceed that figure by 2023. “We believe that we will complete an exercise” it will be amazing“, its CEO assured this Thursday, Maria Dolores Dancausa.
However, the manager warned: “enormous” uncertaintyAs the conflicts in the Middle East prove. He declined to comment on whether it was direct in this sense. lack of government or a possibility election repeat It poses an additional risk for Spain, although he did not shy away from digging: “Fortunately, we are in a country where beyond politicians, “It has great potential,” he said. “slow down a bit” continuing economy “structural weaknesses” such as high public debt and said this would be “very bad news”. legal uncertainty“extension bank tax.
The improvement in Bankiter’s profits is based on the fact that: income obtained from the difference between what was collected and what interest was paid customers were shot 53.8% It increased to 1.638 million compared to a year ago. HE average rate of your loansSo in twelve months it increased from 2.14% to 4.12%Meanwhile deposit it just increased from 0.05% to 1.09%This level, where the gap has widened by two to three percentage points, is a level that the bank expects to maintain in the coming quarters. In this sense, Dancausa is the bank’s “generally” does not pay He is convinced that he fulfills his clients’ obligations and deposit interest rates will gradually increase until they are no longer a controversial issue: “Within a few months, I’m sure This topic will not be discussed“.
excess capital
The banker also confirmed that Bankinter does not intend to allocate its excess capital to carry out these activities. acquisitions abroad nor buy back shares or increase the percentage of profits distributed shareholders through dividends. “In times of uncertainty, It is better to protect capital He reasoned, “In case it has to be used.” Thus, the bank increased its capital in one year from 11.9% to 12.48%. Despite this, the strong improvement in its profits thanks to the rise in interest rates, cost effectiveness The larger capital mentioned also rose strongly from 11% to 1%. very high 17.11%.
The only relevant indicator where there is a small deterioration is default raterose a little from 2.1% to 2.19%. Dancausa says this is because consumer credit“a leading indicator of future defaults” as the bank gives more loans new customersThis means “more profitability but also more risk.” Underlining that in any case, this is a small and controlled increase, Erdoğan underlined that the bank’s non-performing loans continue to remain well below the sector average (3.5%). “we are not worried“We don’t see any growth beyond this slight recovery,” he continued.