Bankinter has confirmed that its growth strategy in Portugal will continue to be driven organically, with no plans to acquire Novo Banco. This statement came from Gloria Ortiz, CEO of Bankinter, during the presentation of the bank’s annual results. The company achieved a consolidated result of €935 million in 2024, with €195 million coming from its operations in Portugal before taxes.
Strong Performance in Portugal
Bankinter’s performance in Portugal remains robust, with notable growth in its lending portfolio, which increased by 8% to €10 billion (comprising €6.7 billion in commercial banking and €3.3 billion in corporate banking). The resources raised in the country also reached €10 billion, highlighting a strong market presence.
In addition, commissions rose by 13% to €77 million, and the gross margin grew by 13% to €346 million. The bank's default ratio in Portugal stood at 1.3%, lower than the Spanish ratio of 2.4%, underlining the strength of its Portuguese operations.
Focused Growth Strategy
Despite the growth in Portugal, Spain remains the primary market for Bankinter. The bank’s credit granting in Spain amounted to €66 billion, while resources totalled €76 billion, with an efficiency ratio of 32%.
CEO Gloria Ortiz reaffirmed that the bank is not considering acquiring Novo Banco, opting instead to focus on growing its market share in Portugal through organic means.
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