Bankinter (BKT) Q2 2025 earnings summary

Executive summary

• Net profit for H1 2025 reached €542 million, up 14% year-over-year, driven by strong commercial activity, innovation, and growth across all business lines.

• Customer volumes increased 9% year-over-year, with robust performance in Spain, Portugal, and Ireland.

• Digital transformation, including AI and cloud deployment, enhanced operational efficiency and productivity.

• Celebrated 60th anniversary, maintaining a presence in four countries and over 6,600 employees.

Financial highlights

• Net profit reached €542 million, up 14% year-over-year; gross operating income increased 6% to €1,494 million.

• Net interest income declined 5% to €1,101 million, while net fees grew 11% to €380 million.

• Operating expenses rose 11%, with pre-provision profit up 3% and profit before taxes up 7%.

• Customer lending, retail deposits, and AUMs grew 6%, 6%, and 18% year-over-year, respectively.

• NPL ratio at 2.14%, coverage ratio at 70%, and CET1 capital ratio at 12.57%.

Outlook and guidance

• Targeting mid-single-digit loan growth and high single-digit fee income growth for 2025.

• Expecting flattish NII for 2025, with client margin managed close to 2.7%.

• Full-year annual costs expected to grow low to mid-single digit, with revenue growth to exceed cost growth.

• Cost of risk expected at 35 basis points for the full year.

• Focus on profitable organic growth, digital transformation, and operational scalability.