Bankinter earns 400 million euros in profits as of September, up 34% thanks to increased lending and customer funds20/10/2016
As of 30 September 2016, Bankinter had reached a consolidated net profit of 400 million euros and a profit before tax of 547.8 million euros, up 33.6% and 30.7%, respectively, from the same period the previous year. In line with the previous trends, recurring business from customers continues to be the main contributor to earnings.
These results include data on Bankinter’s business in Portugal after the bank finalised its purchase of Barclays’ holdings in the country on 1 April 2016. This transaction aside, Bankinter’s net profit would amount to 335.5 million euros, 12% more than in September 2015, with a pre-tax profit of 451.9 million euros (a 7.8% increase).
Bankinter has initiated its round of financial literacy courses for the deaf in a close partnership with the Confederación Estatal de Personas Sordas (CNSE), a Spanish not-for-profit organisation in support of deaf individuals. In keeping with measures the bank has been taking to promote financial literacy, for the fourth year in a row, it has launched specific courses for deaf individuals in order to ensure their access to basic knowledge about the world of finance and, thus, help them become fully self-reliant in this area.
Training started last week on 28 and 29 October in Majorca and Minorca, respectively, with the Federación de Personas Sordas de las Islas Baleares (FSIB), the CNSE’s Balearic affiliate. Courses were taught in sign language by Elena Madina, a bank employee specialised in sign language. Both training sessions were a success, with a high number of attendees of all ages.
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Bankinter is running its annual campaign for pension plans and ‘EPSVs’ , whose strategy will again focus on encouraging customers to transfer their pension plans to Bankinter from other institutions with a cash bonus incentive.
Bonuses may equal up to a total 4% of the transferred amount, for transfers of more than 60,000 euros. Cash bonuses will be 3% for transfers of between 30,001 and 60,000 euros; and 2% for transfers of between 3,000 (the minimum amount required to take advantage of this promotion) and 30,000 euros.
Bankinter has decided to lower both fixed and mixed interest rates on its mortgages again in order to offer customers the best terms for this type of loans. For the third time this year, the bank will reduce current rates for these loans. This time, however, it will entail an overall cut of 20 basis points.
Accordingly, the interest rate on ten-year fixed-rate mortgages will go from 1.60% to 1.40%. Furthermore, the interest rate on 15-year loans will go from 1.80% to 1.60%. As for 20-year loans, the interest rate will drop to 1.90%.