Bankinter obtained a profit of 845 million euros in 2022, which represents a record for the entity and an increase of 51% compared to the previous year. It achieves this result despite having paid 77 million euros for the new extraordinary banking tax.

The bank highlights the strong improvement in all business figures, also including the granting of credit, in what has been María Dolores Dancausa’s last full year as CEO. At the end of March, she will assume the non-executive presidency, while Gloria Ortiz will take over management.

The bank attributes the increase in profit to the interest rate environment, which reached 4.5% last year, and also to its good commercial results. Retail customer funds increased by 9%.

Interest margins, which are the difference between what the bank obtains for loans and what it pays for deposits, amounted to 2,213 million euros, 44% more. Commission income increased by 3%, to 624 million, and the result of both variables was a gross margin 28% higher than in 2022.

Bankinter registered an increase of one basis point in delinquencies, up to 2.11%, although it continues to have one of the portfolios with the fewest problematic loans in Spanish banks, thanks to the profile of its clients, with more economic capacity than the average .

In the case of Spain – the bank also operates in Portugal and Ireland – the default rate stood at 2.4%, below the average figure for the sector, which according to the Bank of Spain was 3.0% in November. 57%.

The bank also managed to increase credit investment by 4%, up to 77 million euros, in a context of high interest rates in which the granting of credit suffers in areas such as home purchases.

It also assumed more provisions, of 438 million euros, 15% more than in the previous year. Its profitability is 17.1%, the highest in a decade, and its good quality capital is equivalent to 12.3% of assets, when the European Central Bank (ECB) requires 7.8%.

Resources managed off-balance sheet, which refer to investment or pension funds and asset management, registered an increase of 18% last year.