Bankinter S.a Stock Earnings Reports

Bankinter delivered a resilient Q1 2026 driven by disciplined, profitable growth and strong balance-sheet metrics. Key results: net profit €291m (+8% YoY; +4% QoQ), RoTE 20%, net interest income €571m (+5.5% YoY), fees €203m (+8% YoY), customer volumes +6.5% (lending +5%, AUM +17%), and cost-to-income trending toward 35%. Customer margin recovered to ~2.68 (target ~270bps), average retail deposit cost fell to ~81bps, and credit costs remained low at 32bps for the quarter. CET1 ended at 12.96% (comfortably above targets). Growth was geographically diversified: Spain remains core, while Portugal and Ireland show faster expansion (Ireland loans +20% YoY; Portugal continues strong scaling since launch). Management highlighted strategic moves to expand alternatives (merger of the alternative fund manager and an economic stake in Access Capital Partners) to grow fee income, and a pragmatic, organization-wide rollout of applied AI to drive productivity and lower cost-to-serve. Guidance is broadly unchanged: mid-single-digit loan growth, high-single-digit fee growth, continued margin management toward ~270bps, cost-to-income below 35% for 2026, RoTE >20%, and stable asset quality. Risks called out include geopolitical uncertainty and rate volatility, which limit near-term visibility on NII, but management expects NII to be primarily volume-driven with quarter-on-quarter growth during 2026.