Bankinter Sa · BME:BKT
Bankinter Sa — Q1 2025 Earnings Presentation
41 slides from Bankinter Sa's earnings presentation, Apr 25, 2025
Slide 1: Earnings Presentation Q1 2025
Earnings Presentation Q12025 24 April 2025 1
Slide 2: Agenda
AGENDA /01 /02 Highlights Results & Solvency /03 /04 Geographies & Closing Businesses Remarks 2
Slide 3: Disclaimer
Disclaimer Similarly, Bankinter advises that this presentation may contain forward-looking statements, regarding the business evolution and results of the entity. While these statements represent our opinion and future expectations, various risks, uncertainties and other important factors may cause
Slide 4: Highlights
/01 Highlights 4
Slide 5: Promising start of the year: Net Income €270 Million, ROTE 19,9%
Highlights .1 Promising start of the year Strong commercial activity, reflected in solid volume and fee growth vs 1Q24 +9% CUSTOMER VOLUMES1 Growing customer volumes +5% +7% +17% LOAN BOOK RETAIL DEPOSITS AUMs vs 1Q24 +11% GROSS OPERATING MARGIN Increasing revenues -6% +13% NII NET FEES 1Q25 Preserv
Slide 6: Volume growth across the board, spanning all geographies +€18Bn
.1 01. Highlights +9% Volume growth across the board, spanning all geographies +€18Bn vs mar-24 Customer Volumes1 By Volume Type € billion € billion +9% / €18Bn Loan Book +5% / €3,7Bn 77 80 81 221 224 206 mar-24 dec-24 mar-25 Retail Deposits +7% / €5,7Bn mar-24 dec-24 mar-25 By Geography % of custom
Slide 7: Gross income up 73 million euros, reflecting an 11% increase
Highlights .1 01. Gross income up 73 million euros, reflecting an 11% increase Driven by strong fee performance and absence of the bank levy Gross operating income “Core” revenues € million € million -2% +11% / +€73M Relevant income differences: 743 729 +€22M 732 Net Fees 659 -€37M 166 188 NII +€95M
Slide 8: Preserving asset quality
Highlights .1 03. Preserving asset quality Through well-balanced growth, with 68% of new loans backed by real guarantees Loan Book Growth Asset Quality1 % of loan book growth NPL Ratio, last sector data +€3,7Bn / +5% vs mar-24 3,3% 2% 2,5% 2,4% 30% 40% 1,3% 1,0% 13% 15% 0,3% Credit Cards Spain Portu
Slide 9: Optimizing efficiency ratios, and reaching all-time-high profitability levels
Highlights .1 Optimizing efficiency ratios, and reaching all-time-high profitability levels Cost-to-income ratio ROE 19,9% 12-month periods 12-month periods ROTE European Peers1 Cost-to-Income ratio: 47,8% 4º quartile 18,8% out of +100 European SIs 42,3% 17,9% 1st quartile 17,1% out of +100 37,2% Eu
Slide 10: Results & Solvency
/02 Results & Solvency 10
Slide 11: Profit & Loss Summary
Results & Solvency .2 Profit & Loss Summary Bankinter Group € million 1Q25 4Q24 Dif. € Dif. % 1Q24 Dif. € Dif.% Net Interest Income (NII) 541 550 -9 -2% 578 -37 -6% Net fees & commissions 188 196 -8 -4% 166 +22 +13% Other income / expenses 3 4 -1 -29% -85 +88 n.a. Gross Operating Income 732 750 -18
Slide 12: Net Interest Income
Results & Solvency .2 Net Interest Income Quarterly evolution Customer Margin & NIM € million In % -1,7% 4,38 4,41 4,33 vs 4Q24 4,14 3,95 2,98 3,01 2,86 2,74 2,71 2,10 2,06 1,92 1,87 1,84 578 583 568 550 541 Δ 1,47 1,40 1,40 1,40 Δ 1,24 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Customer cred
Slide 13: Sovereign bond portfolio continues to support NII
Results & Solvency .2 Sovereign bond portfolio continues to support NII Difference HTC FV Total ALCO Portfolio Size as of mar.25 vs mar.24 € billion 20,00 +23% Amount (€Bn) 13,6 0,5 14,1 +2,6 18,00 vs mar-24 16,00 Duration (years) 5,1 1,8 5,0 +0,3 14,00 12,00 Avg. maturity (years) 9,8 1,8 9,5 +1,0 1
Slide 14: Robust fee income, supported by diversified growth streams
.2 Results & Solvency +13% Robust fee income, supported by diversified growth streams Net fees vs 1Q24 Net fees Gross fees received € million € million in bar, % vs 1Q24 % Fees Management & 124 +15% 53% Brokerage Transactional 94 +4% 196 40% 188 176 179 166 Insurance 16 +7% 7% 1Q24 2Q24 3Q24 4Q24 1Q
Slide 15: Other Income / Expenses
Results & Solvency .2 Other Income / Expenses Bankinter Group € million 1Q25 1Q24 Dif. € Dif. % Equity method 10 5 +5 +92% Trade Income/losses & Dividends 16 24 -8 -32% Banking levy 0 -95 +95 n.a. Other operational income/taxes -23 -19 -4 +25% Total 3 -85 +88 n.a. 15
Slide 16: Improving efficiency, with cost normalization across quarters this year
Results & Solvency .2 Improving efficiency, with cost normalization across quarters this year Operating expenses quarterly evolution € million +2% / +€6M vs 2024 quarterly average €248M €263M 2023 quarterly average 2024 quarterly average 269 220 232 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Opera
Slide 17: Distribution of operating expenses
Results & Solvency .2 02. Distribution of operating expenses Geography Type % vs 1Q24, € million % vs 1Q24, € million +17% +19% +5% +8% 30 13 22 89 €269M €269M +15% +23% 226 158 Spain Portugal Ireland Personnel Expenses Admin Expenses Amortization 17
Slide 18: Cost of risk & other provisions
Results & Solvency .2 Cost of risk & other provisions Credit Risk Other Provisions as % of total risk1 end of period, columns in € million as % of total risk1 end of period, columns in € million 0,60% 0,60% 240 240 0,50% 0,50% 190 190 0,39% 0,40% 0,40% 140 0,32% 140 0,30% 0,30% 90 90 0,20% 0,20% 40
Slide 19: Net income
Results & Solvency .2 Net income Profit before taxes Net income € million € million +16% +35% vs 1Q24 vs 1Q24 389 367 378 327 277 273 258 270 201 222 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 19
Slide 20: Strong credit quality maintained across all segments and geographies
Results & Solvency .2 Strong credit quality maintained across all segments and geographies Significantly below industry averages Non-performing loans & coverage ratio Non-performing loans (NPL) ratio € billion and % +1,5% NPLs, compares to +5% eligible credit exposures vs mar-24 Bankinter Bankinter
Slide 21: Solid liquidity metrics
Results & Solvency .2 02. Solid liquidity metrics Liquidity gap Wholesale funding maturities € billion € million 0 -2,7 -2 -4,8 -4,8 -4 -6 3.750 mar-24 dec-24 mar-25 1.632 Loan to Deposits 1.100 949 0 0 In % 2025 2026 2027 2028 2029 ≥2030 97,1% 94,7% 95,2% HQLAs 12M average €18,8Bn Liquid Assets €30
Slide 22: Capital & Solvency
2025 Results & Solvency Pillar II (P2R) .2 Capital & Solvency Capital Requirement 1,30% 4th lowest out of 110 European entities CET1 ratio CET1 % 12,35% 12,41 0,29 12,49 Buffer +4,41% 12,35 -0,18 -0,03 Regulatory Min. 7,94% +11bps organic generation -0,14 Leverage ratio 5,1% Total Capital Ratio 16,1
Slide 23: Geographies & Businesses
/03 Geographies & Businesses 23
Slide 24: All geographies with strong performance, increasing volumes and results
Geographies & Businesses .3 03. All geographies with strong performance, increasing volumes and results Customer Volumes1 Profit before taxes % of customer volumes, % difference vs mar-24 % of total, % difference vs 1Q24 +18% +23% 2% +8% +19% 10% 3% 15% +15% +9% 82% 88% Spain Portugal Ireland Spain
Slide 25: Spain
Geographies & Businesses .3 03. Spain Business KPIs P&L € million 1Q25 1Q24 Dif. % €67Bn Net Interest Income 442 487 -9% Loan Book +5% YoY Net Fees 167 146 +14% Retail Banking Corp & SME Banking €34Bn +5% €31Bn +6% Other Income / Expenses 6 -82 n.a. €77Bn Gross operating Income 615 550 +12% Retail d
Slide 26: Portugal
Geografies & Businesses .3 Portugal Business KPIs P&L € million 1Q25 1Q24 Dif. % €10Bn Net Interest Income 72 67 +7% Loan Book +9%1 YoY Net Fees 19 18 +9% Retail Banking Corp & SME Banking €6,9Bn +10% €3,3Bn +4%1 Other Income / Expenses -1 -1 -9% €9Bn Gross operating Income 90 83 +7% Customer deposi
Slide 27: Ireland
Geographies & Businesses .3 Ireland Business KPIs P&L € million 1Q25 1Q24 Dif. % Net Interest Income 27 24 +11% €4,0Bn Loan Book +23% YoY Net Fees 2 2 +4% Mortgage Book Consumer Credit Other Income / Expenses -2 -2 +35% €3,0Bn +24% €1,0Bn +15% Gross operating Income 27 25 +9% +4% Operating costs -13
Slide 28: Corporate & SME banking, growing significantly above the sector
Geographies & Businesses .3 Corporate & SME banking, growing significantly above the sector Loan book International Business segment size & growth (Spain) € billion New Origination Loan Book +5% % of origination in period % of loans, w/ % increase of loan book mar-25 vs mar-24 vs mar-24 39% +14% 32%
Slide 29: Wealth Management, affluent client profiles driving ongoing growth +€4Bn
Geographies & Businesses .3 Wealth Management, affluent client profiles driving ongoing growth +€4Bn Incremental wealth Customer wealth1 evolution in 2025 € billion +€2Bn +€2Bn Net New Market Money Effect +11% 129 133 120 57 59 52 68 72 74 mar-24 dec-24 mar-25 Private Banking Retail Banking 1 Custom
Slide 30: Wealth Management: AUMs & AUCs €136Bn
Geographies & Businesses .3 03. Wealth Management: AUMs & AUCs €136Bn +€18Bn / +15% AUMs & AUCs vs mar-24 Customer Off-Balance Sheet AUMs Customer Off-Balance Sheet AUCs € billion € billion ~60bps ~8bps fees p.a. fees p.a. 77 73 vs mar-24 vs mar-24 67 58 59 25 25 +7% 50 24 +17% 33 34 29 48 51 +18% 4
Slide 31: Retail Banking
Geographies & Businesses .3 Retail Banking Salary & 100% Digital accounts New Mortgage Origination Mortgage Back Book Thousand of accounts € billion € billion Market Share Spain +3% Sector 4 +1,2% Spain1 Portugal2 Ireland3 7% 6% 6% ,1 +7% Portugal +9% Sector2 +3,5% ~80% Ireland +24% Fixed / +31% +6%
Slide 32: Closing Remarks
/04 Closing Remarks 32
Slide 33: Growth catalysts: execution of strategic projects
Closing Remarks .4 Growth catalysts: execution of strategic projects Strategy Ambitions 1 Spain Adopting a new approach to ❖ Drive retail client acquisition, expanding the franchise through promote digital banking, with 100% digital channels products & servicies the integration of EVO 2 Ireland ❖ In
Slide 34: Long-term value creation, increasing Profitability and Shareholder Remuneration
Closing Remarks .4 Long-term value creation, increasing Profitability and Shareholder Remuneration Tangible Book Value, Net Income Dividends approved in the period ROE € million € per share Last 12M +22% 5,2% 19,9% +46% Dividend ROTE yield +12% +35% 18,8% 6,49 17,9% 0,12 5,82 0,11 17,1% 5,32 0,09 27
Slide 35: 1Q25 summary of volumes, results, ratios and value
Closing Remarks .4 1Q25 Volumes vs. mar-24 Results vs. 1Q24 Gross Operating Pre-Provision Net Income Loan Book Retail deposits AUMs Income Profit €81Bn €84Bn €59Bn €732M €463M €270M +5% +7% +17% +11% +9% +35% NII Fees -6% +13% Ratios Value Cost-to-income Tangible Book Dividend Yield CET1 NPL Ratio R
Slide 36: Appendix
Appendix /01 /02 Results MREL /03 /04 Businesses Glossary 36
Slide 37: A.1 Deposit structure
Appendix A.1 Deposit structure 73% Maturing 2Q25 Deposit Mix Shift Deposit maturity profile Quarterly evolution avg. 12M Euribor, Deposits 100% staked bar chart 100% stacked bar, representing % of fixed term customer deposits and indexed sight deposits Rate sensitive: 37% of Total 100% Deposits 8% 4
Slide 38: A.1 ALCO Portfolio
Appendix A1. A.1 ALCO Portfolio ALCO breakdown (as of mar-25) Maturities (as of mar-25) In % € million 9.804 13% 24% 14,1Bn€ 62% 1.681 854 911 397 427 Spanish Sovereign Other Sovereign Other 2025 2026 2027 2028 2029 ≥2030 38
Slide 39: A.2 Minimum Requirement for own funds and Eligible Liabilities
Appendix A.2 Minimum Requirement for own funds and Eligible Liabilities MREL ratio % RWAs (TREA) 25,44% 23,20% 2,89% 1,38% 5,10% 6,42% 20,31% + CBR1 December 2024 Subordination Subordination 2,60% 2,27% Requirement 21,82% 22,55% 1,65% 1,51% 12,46% 12,35% mar-24 mar-25 CET1 AT1 Tier 2 Senior non-pref
Slide 40: A.3 AUMs: Well diversified asset classes
Appendix A.3 03. AUMs: Well diversified asset classes Customer Off-Balance Sheet AUMs Mutual and pension funds diversification € billion %, mar-25 +17% vs mar-24 Alternative Investment and others; 17% Equities; 58 59 24% 50 Monetary funds; 8% Mixed; Fixed income; 22% 30% mar-24 dec-24 mar-25 40
Slide 41: A.4 Glossary - Acronyms
A.4 Glossary - Acronyms Concept Definition ALCO Asset–Liability Committee RWAs Risk weighted assets AUCs Assets under custody AUMs Assets under management BoS / BoP Bank of Spain / Bank of Portugal, Central banks from Spain and Portugal respectively BKT Bankinter EPS Earnings per share CET1 Common E