Slide 1: FY2024 Earnings presentation
FY2024 Earnings presentation Results 2024 23 January 2025
Slide 2: Regulatory framework disclaimer
Introduction Regulatory framework disclaimer Bankinter advises that this presentation may contain forward-looking statements. These can be found in various parts of this document and Bankinter presents its quarterly financial statements in accordance include, without limitation, statements concernin
Slide 3: Agenda
2024 Earnings Presentation /01 /02 Highlights Results & 3 AGENDA Solvency Results 2024 /03 /04 Geographies & Closing Businesses Remarks
Slide 4: Highlights
/01 4 Results 2024 Highlights
Slide 5: Highlights: record results, diversified organic growth
Highlights .1 Record results, consistently following a diversified organic growth strategy vs Dec23 +9% CUSTOMER VOLUMES1 Growing in customer volumes +4% +5% +22% LOAN BOOK CUSTOMER DEPOSITS AUMs vs 2023 Diversifying revenue streams +3% +15% NII NET FEES 5 2024 2,1% Results 2024 Preserving the risk
Slide 6: Outstanding commercial activity driving volume growth
Highlights .1 01. Outstanding commercial activity driving volume growth Customer Volumes Volume breakdown CAGR € billion +9% € billion Since 2018 CAGR ’18-’24 Loan book +6% +68% 77 80 Customer Volumes 56 vs Dec18 6 dec.-18 dec.-23 dec.-24 Customer deposits (ex repos) Results 2024 +9% 223 82 86 206 1
Slide 7: Organic & diversified growth well above the sector
Highlights .1 01. Organic & diversified growth well above the sector, focused on our businesses Loan Book in Spain1 Loan Book in Portugal2 Loan Book in Ireland3 +26p.p. +49p.p. 2,9% Over sector Over sector Marketshare from Dec ‘18 from Dec ‘18 Dec ‘24 25% 61% 2,9% 12% 7 -1% 12-18 12-19 12-20 12-21 1
Slide 8: Volume growth driving core revenue growth
Highlights ~x2 .1 01. Volume growth driving core revenue growth Core revenues +12% CAGR ‘18-’24 Core revenues growth € million 2.995 2.838 717 624 2.143 8 1.879 1.647 1.744 606 1.544 Results 2024 497 603 479 450 2.214 2.278 1.537 1.168 1.247 1.275 1.094 2018 2019 2020 2021 2022 2023 2024 NII Fees
Slide 9: Investment in digital transformation improving productivity
Highlights ~10% .1 01. Investment in digital transformation improving productivity Technology spend Gross Operating Income since 2018 Productivity evolution: Business volumes per employee 5,60 34 5,43 +37% 5,40 Increased Productivity 32 vs Dec18 5,16 5,20 9 30 4,92 5,00 Results 2024 28 4,83 26 4,70
Slide 10: Improving efficiency and risk profile, record profitability
Highlights .1 01. Improving efficiency and risk profile, while achieving record profitability ROTE 19,0% Cost-to-income ratio NPL and coverage ratio ROE 20,0% 69% 70,0% 48,9% 18,0% 66% 17,9% 48,5% 65% 17,9% 16,0% 64% 65,0% 10 46,0% 17,1% 14,0% 61% 44,0% 12,0% 60,0% 13,2% 13,0% Results 2024 10,0% 55,
Slide 11: Results & Solvency
/02 11 Results 2024 Results & Solvency
Slide 12: Profit & Loss Summary (annual)
Results & Solvency .2 02. Profit & Loss Summary (annual) Bankinter € million 2024 One-Offs 2024 Adjusted 2023 Dif. € Dif. % Net Interest Income 2.278 2.278 2.213 65 3% Net Fees & Commissions 717 717 624 93 15% Other Income/Expenses -94 -94 -177 83 -47% 12 Gross Operating Income 2.901 2.901 2.661 241
Slide 13: Profit & Loss Summary (quarterly)
Results & Solvency .2 02. Profit & Loss Summary (quarterly) Bankinter 4Q24 3Q24 Dif. € Dif. % 4Q23 Dif. € Dif. % € million Net Interest Income 550 568 -18 -3% 575 -25 -4% Net Fees & Commissions 196 179 17 9% 165 31 19% Other Income/Expenses 4 -6 10 n.a -85 89 n.a 13 Gross Operating Income 750 741 9
Slide 14: Net Interest Income
.2 02. Results & Solvency +3% Net Interest Income NII Annual evolution Customer Margin vs 2023 € million In % 13% 4,32 CAGR ‘18-’24 3,89 3,00 2,91 14 2,01 2,05 2,09 2,00 Results 2024 1,92 1,88 1,82 2.213 2.278 1,53 1,54 1,48 1,47 1,33 1,42 1.537 Δ 0,89 1.168 1.247 1.275 1.094 Δ 0,06 0,06 0,05 0,03 0
Slide 15: Net Interest Income quarterly evolution
Results & Solvency .2 02. Net Interest Income Quarterly evolution Customer Margin € million In % -3% 4,38 4,38 4,41 4,33 vs 3Q23 4,12 4,14 3,73 3,26 15 2,96 2,99 3,03 3,01 2,98 3,01 2,86 2,74 Results 2024 2,13 2,07 2,09 2,07 2,10 2,06 1,92 1,87 575 578 583 570 568 546 550 Δ 1,47 1,40 1,40 1,40 522 Δ
Slide 16: ALCO portfolio
Results & Solvency .2 02. ALCO portfolio Var. vs HTC FV Total Size evolution as of Dec.24 Dec.23 € billion 20,0 +27% Amount (€bn) 13,3 0,6 13,9 +2,8 18,0 vs ‘23 16,0 Duration (years) 5,1 1,6 4,9 +0,6 14,0 16 12,0 Avg. maturity (years) 10,2 2,1 9,8 +0,8 10,0 Results 2024 8,0 13,9 Yield (%) 2,6 1,7 2,
Slide 17: Fee income strong, growing and recurrent
Results & Solvency +15% .2 02. vs 2023 Fee income strong, growing and recurrent 24% Gross Operating Income Annual net fees Collected fees breakdown Contribution 8% vs 2023 € million € million CAGR ‘18-’24 +59% Asset Management 335 +21% Net Fees vs ‘18 717 Brokerage & Custody 135 +12% Management & Br
Slide 18: Other Income / Expenses
Results & Solvency .2 02. Other Income / Expenses Bankinter 2024 2023 Dif. € Dif. % € million Equity method 35 32 3 10% 18 Trading Income /Losses & Dividends 54 51 3 6% Regulatory Charges -126 -212 86 -41% Results 2024 Banking Tax -95 -77 -18 23% Other Operating Income / Expenses -57 -47 -10 21% Tot
Slide 19: Geographical diversification, revenue growth engine
Portugal & Results & Solvency .2 02. Ireland Geographical diversification, an important revenue growth engine 2024 15% Income Gross Operating Income by Geography € million 11% CAGR ‘18-’24 2.901 2.661 103 15% 19 97 346 Portugal & Ireland 306 2.084 1.855 Results 2024 1.649 1.709 191 8% 1.514 138 152
Slide 20: Operating Expenses
Results & Solvency .2 02. Operating Expenses Cost-to- Income 36% Cost-to-income ratio Operating expenses breakdown € million € million 1500 49% 49% 49,0% 1400 47% +8% 1300 46% 47,0% +8% 20 +5% 1200 44% 45,0% 111 49 1100 459 Results 2024 43,0% 1000 900 41,0% 1,054M € 1,054M € 800 39,0% 700 37% +6% +7
Slide 21: Cost of Risk & Other Provisions
Results & Solvency .2 02. Cost of Risk & Other Provisions Credit Risk cost Other Provisions as % of total risk* and € million as % of total risk* and € million 500 0,60% 500 1% 450 0,50% 450 400 0,39% 0,39% 400 1% 350 0,39% 21 0,40% 350 0,32% 0,34% 0% 300 300 250 0,30% Results 2024 0,23% 250 0,24% 0
Slide 22: Total Net Income
Results & Solvency .2 02. Total Net Income Evolution € million 10% +13% CAGR ‘18-’24 vs ‘23 22 Results 2024 953 845 526 551 560 437* 317 2018 2019 2020 2021 2022 2023 2024 *2021 excludes extraordinary result from Linea Directa’s spin-off
Slide 23: Credit Quality
Results & Solvency .2 02. Credit Quality NPL growth +19% vs ‘18 Spanish Non-performing loans & Coverage NPL ratio in Spain Industry* € billion vs +33% total risk exposure 3,4% 69% 66% 65% 64% Bankinter Bankinter 61% 2024 2023 23 49% 48% 1,9 1,8 Results 2024 1,7 1,7 1,7 1,7 Households 1,5% 1,7% 1,6 C
Slide 24: Liquidity
Results & Solvency .2 02. Liquidity Liquidity gap Wholesale funding maturities € billion € million 3,7 1,3 €8,5 bn 2018 2019 2020 2021 2022 2023 2024 -1,5 -2,2 -4,8 2.250 24 -5,3 -5,2 1.632 1.000 1.100 949 Loan to Deposits Results 2024 2025 2026 2027 2028 ≥2030 109,7% 94,3% 94,7% HQLAs 12M average €
Slide 25: Capital and Solvency
2025 Results & Solvency Pillar II (P2R) .2 02. Capital and Solvency Capital Requirement 1,30% 4th lowest out of 110 European entities Fully loaded CET1 ratio In % CET1 12,41% 1,17 12,30 12,37 0,15 12,41 Buffer +4,40% -0,79 -0,20 -0,11 -0,11 25 Regulatory Min. 8,01% Results 2024 Leverage ratio +7bps
Slide 26: Profitability: ROE & ROTE
Results & Solvency .2 01. Profitability ROE & ROTE In % 19,0 18,1 17,9 26 14,2 14,3 17,1 12,7 Results 2024 13,2 13,0 10,2 12,0 7,4 ROTE 9,6 ROE 7,0 2018 2019 2020 2021* 2022 2023 2024 *2021 excludes the one-off effect from LDA, otherwise ROE would be 29%
Slide 27: Geographies and Businesses
/03 Geographies and 27 Results 2024 Businesses
Slide 28: Spain
Geographies & Businesses .3 03. Spain Business KPIs P&L € million 2024 2023 Dif. % €66bn Net Interest Income 1.902 1.874 1% Loan Book +2,4% YoY 28 Net Fees 631 548 15% Retail Banking Corporate/ SME Banking €33bn +2% €31bn +7% Other Income / Expenses 15 -87 n.a. Results 2024 NPL ratio: 2,4% Gross Ope
Slide 29: Portugal
Geographies & Businesses .3 03. Portugal Business KPIs P&L € million 2024 2023 Dif. % €10bn Net Interest Income 277 246 13% Loan Book +8% YoY LtD 29 104% Net Fees 77 68 13% Retail Banking Corporate / SME Banking €6,7bn +8% €3,3bn +9% -5p.p.vs ‘23 Other Income / Expenses -7 -7 1% Results 2024 NPL rat
Slide 30: Ireland
Geographies & Businesses .3 03. Ireland Business KPIs P&L € million 2024 2023 Dif. % €3,8bn Net Interest Income 100 94 7% Loan Book +27% YoY 30 Net Fees 10 9 7% Mortgages Consumer Credit €2,9bn+31% €1,0bn +17% Other Income / Expenses -6 -6 13% Results 2024 Gross Operating Income 103 97 6% Cost-to- N
Slide 31: Corporate & SME Banking
Geographies & Businesses 43% .3 03. Corporate & SME Banking Corporate & SME % Group Loan Book Loan Book International Segment € billion +6% Loan Book Loan Book vs Dec23 International CAGR Supply Chain Banking Finance ‘18-’24 31 6% €10,2bn €246m +14% vs Dec23 +80% vs Dec23 Results 2024 Loan Book grow
Slide 32: Bankinter Investment
Geographies & Businesses 03. .3 Bankinter Investment Gross Operating Income1 Alternative investments details & vintage profile € million 28 Structured vehicles 233 231 + 14.700 Bankinter investors 186 69 86 +€1,1Bn Cumulated payout 32 45 154 115 + €5,1Bn Committed capital 94 72 Results 2024 79 73 60
Slide 33: Bankinter Investment: alternative vehicles diversification
Geographies & Businesses 03. .3 Bankinter Investment Strong alternative investment vehicles diversification 362 underlying 28 vehicles 11 sectors 14 countries assets Sectors Number of assets Asset breakdown by geography Hyper & Supermarkets 33 80 15 2 Hotels 16 5 4 Renewables 213 10 sectors 48 3 2 2
Slide 34: Wealth Management: sustainable growth in customer wealth
Geographies & Businesses +€14Bn / +12% .3 03. Wealth Management Incremental Wealth Sustainable growth in customer wealth1 vs ‘23 € billion +9% +€7Bn +€7Bn CAGR Net New Money Market Effect ‘21 – ‘24 127 140,00 113 120,00 34 98 101 57 100,00 Results 2024 51 45 46 80,00 60,00 71 40,00 53 55 63 20,00 0,
Slide 35: Wealth Management: AuMs and AuCs
.3 03. Geographies & Businesses +€22bn Wealth Management Wealth & Custody Mgmt +20% Customer Off-Balance sheet AuMs Customer Off-Balance sheet AuCs vs Dec23 € billion € billion +22% +18% vs Dec23 vs Dec23 58 35 4 47 5 +11% 44 41 4 8 +11% 4 Results 2024 4 5 +30% 32 33 3 6 4 6 28 3 3 5 16 +24% 2 2 74
Slide 36: Retail Banking
Geographies & Businesses .2 03. Retail Banking Salary accounts New Mortgage Origination Mortgage Back Book Thousands of accounts € billion € billion Market Shares Spain1 Portugal2 Ireland3 +0,2% Spain +2,0% Sector 4 6,6% 6,0% 7,1% ,1 +4% Portugal +6,8% Sector2 +3,0% ~70% 36 +26% Ireland +31% +5% Fix
Slide 37: Closing Remarks
/04 37 Results 2024 Closing Remarks
Slide 38: Profitable, sustainable and high-quality growth
Closing Remarks 04. Profitable, sustainable and high-quality growth /01 Growing above the market. Diversifying in terms of businesses, geographies and type of revenues /02 Managing our margins against rate movements 38 /03 Best-in-class efficiency levels Results 2024 /04 Preserving the risk profile
Slide 39: Business Focus & Priorities
Closing Remarks .4 04. Business Focus & Priorities 1. Wealth Management & Retail Banking 1. Digital Mass Market Spain 2. Corporate & SME Banking 2. Bankinter Ireland 3. Bankinter Investment 3. Bankinter Portugal 39 Mature Franchises Growing Businesses Tactical Strategical Results 2024 Capabilities 1
Slide 40: A year of progress focused on the customer
Closing Remarks 0. • .4 Digital Transformation Improved customer Innovative features: Services even more digital: Artificial Intelligence experience: In the customer relationship: New Broker website Virtual cards in Apple and Onmichannel in dual Funds information in Google Pay. mortgage, aggregation
Slide 41: Boosting Sustainable Business
Closing Remarks 0. • .4 Sustainability Boosting €446M New renewable energy Complying with the transactions by Bankinter Sustainable Investment decarbonization goals in our Corporate Business €337M portfolio 41 5,2% ton CO2/€bn New sustainability-related reduction in 2024 transactions Results 2024 €9
Slide 42: Long-term value creation and shareholder remuneration
Closing Remarks .4 Long-term value creation, increasing Profitability and Shareholder Remuneration Tangible Book Value + Results Dividends paid in the period ROE € million € per share 6,7% 19,0% Dividend +81% ROTE yield +35% +13% +11% 17,9% 17,1% 42 6,65 6,69 6,04 0,51 1,31 13,2% 13,0% Results 2024
Slide 43: 2024 Summary
Closing Remarks .4 04. 2024 Summary Volumes vs. Dec23 Results vs. ‘23 Customer Gross Pre-Provision Net Income Loan Book AUMs Operating Deposits Profit Income €80bn €86bn €58bn €2.901M €1.848M €953M +4% +5% +22% +9% +11% +13% NII Fees 43 +3% +15% Results 2024 Ratios Value CET1 NPL ratio Cost-to-incom
Slide 44: FY2024 Earnings presentation
FY2024 Earnings presentation Results 2024 23 January 2025
Slide 45: Appendix
APPENDIX /01 /02 Financial MREL Statements 45 /03 Results 2024 Businesses
Slide 46: Diversifying business lines boosts revenue growth
Appendix A.1. 04. Diversifying business lines we boost revenue growth x2 Gross Operating Income 2018 Gross Operating Income 2024 Diversification vs ’18 x2 ex-LDA 1% Revenues vs ‘18 New Businesses New Businesses 3%2% 11% 22% 4% 6% 7% 46 30% 10% 34% 13% Results 2024 1.514M € 6% 2.901M € 13% 9% 32% 29%
Slide 47: Other Income / Expenses (quarterly)
Appendix A.1. Other Income / Expenses (quarterly) 02. Bankinter € million 4Q24 3Q24 Dif. € Dif. % 4Q23 Dif. € Dif. % Equity method 12 11 1 6% 7 5 74% 47 Trade Income/losses & Dividends 18 6 13 218% -7 25 -366% Regulatory Charges -9 -6 -3 50% -69 60 -87% Results 2024 Of which banking tax 0 0 0 0% 0 0
Slide 48: Deposit structure
Appendix A.1. Deposit structure 02. 69% Maturing 1T25 Deposit “Mix Shift” Deposit maturity profile Quarterly evolution avg. 12M Euribor, Deposits 100% staked bar chart In % of total customer deposits with a fixed term maturity or indexed repricing accounts 100% 8% 4,00% 48 90% 4,1% 29% 5% 3,9% 4,0%
Slide 49: ALCO Portfolio
Appendix A1. A.1. ALCO Portfolio ALCO breakdown (as of Dec.24) Maturities (as of Dec.24) € million 9.478 15% 49 Results 2024 €13,9Bn 25% 60% 1.709 874 926 462 450 2025 2026 2027 2028 2029 ≥2030 Spanish Sovereign Other Sovereign Other
Slide 50: Other Income / Expenses: regulatory costs
Appendix A.1. 01. Other Income / Expenses Regulatory costs € million 8% of G.O Income 7% 212 7% of G.O 4% 7% of G.O Income 23 50 of G.O 6% of G.O Income Income of G.O Income 5% of G.O Income 140 77 117 124 126 Results 2024 Income 24 95 29 25 27 80 56 47 20 41 13 36 29 28 95 52 58 60 64 39 47 2018 20
Slide 51: Pre-provision profit
x2,2 Appendix A.1. Pre-provision profit 02. Since 2019 Evolution € million +17% CAGR 51 +11% 1.848 Results 2024 843 1.667 vs ‘23 2019 2023 2024
Slide 52: Foreclosed Assets
Appendix A.1. 02. Foreclosed Assets Foreclosed assets stock Activity in 2024 € million Spain Portugal -28% vs Dec23 Book value of Total price of 348 68% sold assets sold assets 52 22 Coverage ratio 291 33M€ 18M€ 14 Results 2024 226 11 Average Average 170 8 discount of sold coverage of sold 327 122 a
Slide 53: Minimum Requirement for own funds and Eligible Liabilities
Appendix A.2. Minimum Requirement for own funds and Eligible Liabilities MREL ratio % RWAs 24,04% 22,64% 2,96% 1,42% 5,13% 4,81% 20,31% + CBR* 53 2,13% 2,31% From December ‘24 Subordination Subordination 1,67% 1,54% Requirement 21,08% 21,22% Results 2024 15,80% + CBR* 12,30% 12,41% From December ‘24
Slide 54: EVO Banco
Appendix A.3. EVO Banco 03. Retail deposits Loan Book Gross Operating Income € million € million € million +18% +13% +22% vs Dec23 vs Dec23 vs ‘23 54 Results 2024 4.564 81 3.718 3.828 3.964 3.847 66 3.163 3.433 3.393 2.719 1.860 37 1.096 1.224 21 24 5 Dec. 19 Dec. 20 Dec. 21 Dec. 22 Dec. 23 Dec. 24
Slide 55: Consumer Finance Business
Appendix A.3. Consumer Finance Business 03. Breakdown by Product Type Dec 2024 Gross Operating Income +8% +6% € billion , difference in % vs Dec 23 € million vs Dec23 vs ‘23 0,4 -3% 55 3,4 400 +10% 1,1 378 +9% 342 € 4,9Bn 325 310 296 Results 2024 219 2018 2019 2020 2021 2022 2023 2024 Cost of risk 3
Slide 56: Glossary
Glossary In addition to financial information prepared in accordance with IFRS Standards, this document includes alternative performance measures (‘APMs’), based on the Guidelines on Alternative Performance Measures published by the European Securities and Markets Authority on 30 July 2015 (ESMA/201