Bankinter's new CEO, Gloria Ortiz, promises a new phase for the company. Business growth is inundated with challenges and new regulatory demands. He admitted this in a video he recorded to present the bank's first-quarter results, where he described taking on his duties with great „sense of responsibility”. Also, it describes that there is more than that Familiar with AI toolsand actively works to integrate models that strengthen the work of the entire team.
Regarding the results achieved by Bankinter, They said they won 201 million euros In the first quarter – specifically they grew by 9% – and concluded that these data are representative. „The Prelude to a Series of Future Successes”. „In this new era, we are going to face important challenges such as the increase in business growth, decisions and regulatory demands, but we are also facing technological changes that require urgent action, such as the disruptive factor imposed by artificial intelligence. Already transforming society,” Ortiz notes.
He also promised that 2023 would not be without difficulties. „They face the next quarters of this new year with confidence despite the environment”, after calling for „prudence” due to the geopolitical situation. And, looking ahead to 2024, the CEO expects the year to be marked by an „expected” drop in interest rates, although its start has yet to be determined. „The collapse of these rates will naturally have an impact on the accounts of financial institutions. But, despite this, at Bankinter we are ready to offset this effect with greater incentives for business in all our markets,” he says.
Banker, in statistics
The banker took a hit A net profit of 200.8 million euros in the first quarter of 2024This represents an 8.7% increase compared to the 185 million received in the same period in 2023, according to quarterly accounts published by the bank this Thursday.
As in the previous year, the bank has fully accounted for the bank excise duty paid in this quarter's accounts. The rate rose by 23% to 95 million euros, compared to 77 paid by the bank last year. „The increase in volumes, thanks to the consistency of its business strategy, good management of spreads and promotion of high-value customer segments, has generated growth in all margins and consolidated the bank in the leadership positions of the sector. Efficiency and profitability,” the bank explained in a statement.
Total revenue (gross margin) rose 6.9% between January and March to 658.7 million euros.. Of that figure, net interest income (interest margin) was 577.7 million euros, up 10.6%, while net commissions rose 8.5% to 165.8 million.
Overall in the first quarter, the The bank's staff costs increased by 5.2% to 128.1 million eurosAdministrative expenses and amortization were 6.5% higher at 104.1 million. In this way, the operating result reached 426.4 million euros, 7.6% more. Between January and March, provisions were recorded in March at 17.1 million euros, down 26.2%, and losses from asset impairments at 80.6 million, up 6.9%.
