Bankinter (BKT) investor relations material

Executive summary

• Net profit for H1 2026 reached €605 million, up 12% year-on-year, with ROTE at 20.36% and ROE at 19.1%, reflecting strong shareholder value creation and sector outperformance.

• Total assets rose 7% to €140.9 billion, with customer volumes up 8% and business growth across Spain, Portugal, and Ireland.

• The business model emphasizes efficiency, asset quality, and disciplined capital allocation, supporting long-term value creation.

• Maintained a low NPL ratio at 1.92% and a robust CET1 ratio of 12.91%, well above regulatory requirements.

• Shareholder value generation (TBVps + DPS) rose 17% year-on-year.

Financial highlights

• Net interest income for H1 2026 was €1,160 million (+5.4% YoY), with gross operating income at €1,603 million (+7.3% YoY) and net fees and commissions at €440 million (+16% YoY).

• Cost-to-income ratio improved to 34.3%, reflecting disciplined cost management and productivity gains from AI adoption.

• Pre-provision profit reached €1,052 million, up 10% year-on-year.

• Customer lending grew 5% and customer funds 10% year-on-year; assets under management up over 20%.

• EPS for the period was €0.65, up 11.5% year-on-year.

Outlook and guidance

• Sustained commercial momentum and diversified income sources position the group for continued sustainable results, with mid-single-digit lending growth expected and upgraded fee growth guidance.

• NII expected to continue growing, reaching the upper end of mid-single-digit growth; cost growth to remain low, targeting a 30% efficiency ratio long-term.

• Asset quality outlook stable, with cost of risk expected to remain at current low levels.

• Ongoing investment in technology and AI to enhance scalability and efficiency, with full deployment of Copilot licenses by 2H26.

• Strategic expansion into new markets, including the Netherlands via Tulp, and continued growth in alternative investments.