Bankinter S A : Results presentation (q1 2026 results presentation)

About this update from Bankinter Sa

Earnings Presentation Q12026 23 rd April 2026 Highlights /01 /02 Results & Solvency Geographies & Businesses /03 Closing Remarks /04 Agenda 3 Highlights .1 Highlights +17% AUMs +5% CUSTOMER LENDING Profitable and disciplined volume growth vs 1Q25 +6,5% CUSTOMER VOLUMES +1% RETAIL FUNDS Profitable and disciplined growth, supported by a high-quality balance sheet Continued improvement in margin discipline 1Q26 2,68% CUSTOMER MARGIN 1,76% NIM Diversified and resilient income model vs 1Q25 +6,5% GROSS OPERATING INCOME +5,5% +8,1% NII Operational excellence and balance sheet strength 1Q26 35,4% COST-TO-INCOME RATIO 1,92% NPL RATIO NET FEES 13,0% CET1 RATIO ROTE 20% Net Profit €291M / +7,6% .1 Highlights Broad-based volume growth across products and geographies Customer Volumes 1 +6,5% / €14Bn €Bn Volume Breakdown €Bn Customer Lending +5% / €4Bn By Geography % of customer volumes, % and € vs mar-25 85 81 239 224 10% 2% +€14Bn 87% mar-25 mar-26 +1% / €0,5Bn Retail Funds 84 85 mar-25 mar-26 1.Customer volumes include Customer Lending, Retail Funds and AUMs mar-25 mar-26 AUMs 69 59 mar-25 mar-26 +17% / €10Bn Spain: +5% / €11Bn Portugal: +13% / €3Bn Ireland: +24% / €1Bn 01. .1 Highlights Sustainable revenue growth supported by a differential business model Stronger and more diversified core revenues Margin discipline sustaining NII growth € million € million +5,5 % 571 541 729 188 203 +€30M +€15M +6,2 % 774 560 566 570 571 541 2,74% 2,73% 2,65% 2,61% 2,68% 1Q25 1Q26 NII Net Fees 1Q25 2Q25 3Q25 4Q25 1Q26 NII Customer Margin .1 Highlights Disciplined management strengthening the foundations for sustainable profitability Cost-to-income ratio NPL & Coverage ratios 69% 68% 70% CET1 ratio 12,7% 13,0% 36,3% 36,1% 35,4% 1, 2024 2025 1Q26 2,11% 1,94% 1,92% 2024 2025 1Q26 NPL ratio Coverage ratio 12,4% 2024 2025 1Q26 .1 Highlights Bankinter Portugal: solid profitable growth with a sustainable and scalable model Since 2016 Evolution x2 Customers (thousands) 134 278 2016 2025 Cost-to-income ratio (%) 33% 124% 2016 2025 Customer volumes 1 (€Bn) 30 10 2016 2025 PBT(%) 10 210 2016 2025 x3 Focus on value added segments: Private Banking x8 Corp. & SME Banking x6 x20 Scalability : integrated model with in-house capabilities, strengthened by JVs and strategic partnerships Steady advancement in Portuguese rankings Disciplined market share gains Profitable double-digit growth Ambitions Efficiency : AI-driven transformation Projects 9 1. Includes Customer Lending, Retail Funds, AUMs and AUCs .1 Highlights Strategic transactions strengthen scale, capabilities and leadership Strong structural sector growth Strengthen leadership in Iberia in direct alternative investments x4,5 Source: Preqin ($ trillion) Strategic rationale 19,3 4,3 Client-centric model, with greater value and product diversification Accelerate pan-European expansion with greater scale and specialization 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E 2027E 2028E Disciplined capital allocation focused on growth Plenium Partners SGEIC Bk Investment SGIIC ACP Bk Investment SGIIC 72,5% 27,5% +19 yrs, partner since 2017 +€7.500M cumulated investments Renewable energy Student housing Energy transition €1.300M co-investment with Bk +28 yrs, 6 European countries, partner since 2019 +€15.000M funds raised historically +€9.000M committed funds Infrastructure Private equity mid-market 700M€ co-investment with Bk 1 ST Transaction Q3 '26 2 nd Transaction Q4'26 64 % Closing of the transactions is subject to necessary regulatory approvals 1 st Merger by absorption 2 nd Economic rights. ACP to maintain full management independence 11 Results & Solvency .2 Results & Solvency Profit & Loss Summary Bankinter Group € million 1Q26 Dif vs 4Q25 Dif vs 1Q25 € % € % Net Interest Income (NII) 571 1 -15 -2 0% -7% -25% +30 +15 +2 +5,5% Net fees & commissions Other income / expenses 203 +8,1% 5 +80% Gross Operating Income 779 -16 -2% +47 +6,5% Operating expenses -276 +9 -3% -7 +3% Pre-provision profit 503 -8 -2% +40 +9% Cost of risk & other provisions -93 +25 -21% -9 +11% Profit before taxes 410 +17 +4% +31 +8% Taxes -119 -5 +5% -11 +10% Total Net Income 291 +12 +4% +21 +8% .2 Results & Solvency Resilient net interest income driven by margin discipline and volumes NII quarterly evolution € million Customer Margin & NIM % +5,5% vs 1Q25 3,95 3,71 3,49 3,48 3,48 570 571 560 566 541 2,74 2,73 2,65 2,61 2,68 1,84 1,83 1,72 1,76 1,76 1,21 0,98 0,84 0,87 0,81 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Customer credit yield Customer deposit cost Customer margin NIM .2 Results & Solvency Deposit mix optimization: shifting to more stable, lower-beta retail funding Higher operational balances, with lower pricing sensitivity More stable, relationship-driven retail funds € billion Active pricing discipline lowers retail deposit costs % +19% Current accounts -43% Term deposits 6 22 7 16 6 14 5 14 5 12 69 57 63 65 68 2,45 2,35 84 86 85 88 85 Average deposit spread ~130bp 1,21 0,81 mar-25 jun-25 sep-25 dec-25 mar-26 Current accounts Term deposits Other retail funds 1Q25 2Q25 3Q25 4Q25 1Q26 Average retail deposit cost Euribor 12M .2 ‌Results & Solvency Fee income: resilient, diversified and value-driven Net fees: sustainable positive trends +8% vs 1Q25 € million Mix of recurring fee streams € million 1Q26, yoy variation 94 0% 17 +8% Asset Management & Brokerage 146 +18% 57% % Fees Received 218 203 188 192 196 36% Transactional 7% Insurance 1 1Q25 2Q25 3Q25 4Q25 1Q26 1 Insurance: including the corresponding equity-accounted results, the year-on-year increase would be 10%. .2 Results & Solvency Other income and expenses: diversified underlying businesses supporting results Bankinter Group € million 1Q26 1Q25 Dif. € Dif. % Equity method Trade Income/losses & Dividends Subtotal 12 10 +2 16 +3 26 +5 +16% 19 +20% 31 +18% Other operational income/taxes -26 -23 -3 +11% Total 5 3 +2 +80% .2 Results & Solvency Structural and sustainable efficiency improvements Control, simplification and pragmatic use of AI Sustainable and recurring improvement Cost-to-income ratio, for the quarter 47% Disciplined cost growth % total, % vs 1Q25 45% 9% 33% 58% Personnel +2% Admin +3% Amort +8% 35,4% 36,8% Cost by geography 5% 12% 83% % total, % vs 1Q25 33% 33% 1Q25 1Q26 Group Portugal Ireland Spain +1% Portugal +7% Ireland +15% 01. ~10% Technology Spend % of Gross Op. Margin since 2018 .2 Results & Solvency Maximizing the potential of AI Productivity per Employee Costs over Customer Volumes Customer volumes / Employees € million 22 1 34 Operating costs / Customer Volumes million of € per billion in volumes 4,8 4,6 36 6,40 1 mar-25 mar-26 Peers BKT mar-25 mar-26 BKT Peers AI First program generating tangible value Top down Bottom up Customer and corporate process efficiencies Competitive differentiation Client AI Whatsapp, advanced AI models deployed in sales & UX customizations Software development Assistants deployed to reduce development cycles and increase quality Employee productivity Increased AI Tools, Copilots and Agents .2 ‌Results & Solvency Credit cost and other provisions remain well controlled Cost of Risk over total risk 1 , € million Other provisions over total risk 1 , € million 0,36% 0,32% 0,32% 97 71 78 0,07% 0,09% 0,07% 13 21 15 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Provisions and other impairments Annualized cost 1. Cost of risk in % includes impairment losses and gains (losses) on disposal of assets, excludes extraordinary items .2 Results & Solvency Net profit continues to grow, reflecting the strength of the business model Profit before tax € million Net Profit € million +8% vs 1Q25 +8% vs 1Q25 378 392 410 270 278 291 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 .2 Results & Solvency Consistent strong asset quality, outperforming the sector Non-performing loans & coverage ratio € billion NPL ratio by geography 69% 68% 70% 2,16% 1,9 1,8 1,8 1,94% 1,92% mar-25 dec-25 mar-26 Spain 1Q26 vs. 1Q25 Last Sector Data 2,1% -26bps 2,7% 1,3% -1bps 2,1% 0,3% +2bps 0,8% Portugal Ireland NPL NPL Ratio Coverage Ratio Sector source: Each country's central bank. Latest available data as of April 2026 .2 2026 Pillar II (P2R) Capital Requirement 1,50% 4 th lowest out of 110 European entities Results & Solvency Strong capital & solvency ratios CET1 12,96% 1 CET1 ratio % 12,72 0,29 -0,02 -0,03 12,96 Leverage ratio 5,3% Buffer Total capital ratio 17,5% Minimum Requirement 4,36 8,36 +27bps organic generation 4,49 8,47 MREL 2 25,9% dec-25 Retained earnings RWAs Intangibles, Adj. & Others mar-26 1 CET1 Fully Loaded 12,76%. 23 Geographies & Businesses 03. .3 Geographies & Businesses Solid diversified growth in volumes and revenues across geographies Customer volumes 1 €Bn Gross operating income +6% / €14Bn % total, % vs 1Q25 Customer lending growth % vs 1Q25 3,2% 4,1% 209 198 4 22 5 25 224 239 BKT Spain Sector 6,8% 8,9% 12% 4% +6% / €779M 84% BKT Portugal Sector 3,0% 22,8% mar-25 mar-26 Spain Portugal Ireland Spain: +6% Portugal: +7% Ireland: +20% BKT Ireland Sector 1.Customer volumes include Customer Lending, Retail Funds and AUMs BoS February 2026; Associaçao Portuguesa de Bancos December 2025; CBI December 2025 03. .3 Geographies & Businesses Spain Business KPIs P&L €69 Bn Customer Lending+3% YoY Retail Banking €35Bn Corp & SME Banking €34Bn +8% €77 Bn Retail Funds €145 Bn 1 AUM €63Bn +15% YoY +15% YoY AUC €82Bn +15% YoY 1Q26 1Q25 Dif. % € million Net Interest Income 461 442 +4% Net Fees 180 167 +8% Other Income / Expenses 10 6 +63% Gross operating Income 651 615 +6% Operating costs -229 -226 +1% Cost-to-income ratio 35,2% 36,7% -1,5pp Pre-Provision Profit 422 389 +8% Cost of risk & Other Provisions -80 -77 +3% Profit before tax 342 312 +10% .3 Geografies & Businesses Portugal Business KPIs P&L €11 Bn Customer Lending +9% YoY Retail Banking €7,5Bn +13% Corp & SME Banking €3,4Bn +4% €10 Bn Customer deposits +10% YoY €12 Bn 1 AUM €6Bn +39% YoY +27% YoY AUC €6Bn +16% YoY 1Q26 1Q25 Dif. % € million Net Interest Income 77 72 +8% Net Fees 21 19 +11% Other Income / Expenses -3 -1 +109% Gross operating Income 96 90 +7% Operating costs -32 -30 +7% Cost-to-income ratio 33,1% 33,1% - Pre-Provision Profit 64 60 +7% Cost of risk & Other Provisions -8 -4 +115% Profit Before Taxes 56 56 0% .3 Geographies & Businesses Ireland Business KPIs P&L €5,0 Bn Customer Lending +23% YoY Mortgage Book €4Bn +27% Consumer Credit €1Bn +8% 0,3% NPL Ratio 1Q26 1Q25 Dif. % € million Net Interest Income 33 27 +22% Net Fees 2 2 -5% Other Income / Expenses -2 -2 +11% Gross operating Income 33 27 +20% Operating costs -15 -13 +15% Cost-to-income ratio 45,0% 47,1% -2pp Pre-Provision Profit 18 14 +25% Cost of risk & Other Provisions -6 -3 +68% Profit before taxes 12 11 +12% .3 Geographies & Businesses Corporate & SME banking: strong growth and market share gains Customer Lending €Bn International Business customer lending €Bn +8% vs mar-25 11 12 10 +17% vs mar-25 36,7 37,5 35,0 mar-25 dec-25 mar-26 Customer Lending growth 1Q26 vs 1Q25 +8% BKT Spain 3% Sector 1 mar-25 dec-25 mar-26 1. BdE feb 2026 (chapter 19, table 16) .3 Geographies & Businesses Retail Banking: disciplined growth focused on margins and capital allocation Salary and Digital account balances +47% vs mar-25 €Bn New Mortgage Origination -22% vs mar-25 €Bn Mortgage Backbook +4% vs mar-25 €Bn Growth by Geography Spain -40% Portugal +8% Ireland ,1 +37% 18 27 1,6 1,3 37 39 mar-25 mar-26 1Q25 1Q26 mar-25 mar-26 .3 Geographies & Businesses Wealth Management: resilient growth supported by a high-quality customer base Customer Wealth 1 €Bn +€18Bn /+13% 137 63 71 71 74 84 84 154 155 mar-25 dec-25 mar-26 Private Banking Retail Banking 1 Customer wealth includes balances in current accounts, term deposits, AUMs and AUCs €157Bn +€21Bn / +16% vs mar-25 .3 Geographies & Businesses Off-Balance Sheet: clients remain invested despite elevated uncertainty AUMs 1 €Bn AUCs 2 €Bn 77 25 26 25 51 62 62 ~8bps fees p.a. +15% / €11Bn +17% / €10Bn 87 88 ~60bps fees p.a. 69 69 59 29 29 25 34 40 40 mar-25 dec-25 mar-26 mar-25 dec-25 mar-26 Bankinter Products Third party Investment Funds Fixed Income Securities Equity Securities 32 Closing Remarks .4 Closing Remarks Resilient performance and sustainable value creation Disciplined management & execution through the cycle Net Profit High and sustainable ROTE € million Management Pillars 1,9% NPL ratio 13,0% CET1 35,4% Cost-to-income Shareholder value creation TBV + Dividends for the period 270 291 +8% 6,50 0,12 6,99 0,15 6,37 6,83 +8% +25% Dividends 20,0% 20,0% 19,0% 18,1% 1Q25 1Q26 2023 2024 2025 1Q26 mar-25 mar-26 TBV Dividend for the period Highlights /01 /02 Results & Solvency Geographies & Businesses /03 Closing Remarks /04 Appendix 34 A.2 Appendix ALCO bond portfolio continues to support NII momentum as of mar-26 HTC FV Total vs. Dec. 25 Limited balance sheet risk, predominantly fixed-rate, held-to-collect and moderate in size ALCO Portfolio Distribution 12% 23% 65% 84% Fixed rate Amount (€Bn) 14,8 0,8 15,6 +0,6 Duration (years) 4,8 2,6 4,7 +0,1 Avg. maturity (years) 8,4 2,7 8,1 +0,1 Yield (%) 2,6 2,1 2,5 +0,0 Unrealised Capital gains (€M) -273 -11 -284 -228 % of total Spanish Sovereign Other Sovereign Other ALCO Maturity € million 11.642 281 1.030 1.706 911 2026 2027 2028 2029 ≥2030 ALCO Portfolio / Total Assets 11% 2,4x ALCO Portfolio / Equity 02. 98,4% LTD Ratio 1T26 A.2 Appendix Strong liquidity position, supported by efficient balance management Liquidity gap €Bn mar-25 jun-25 sep-25 dec-25 mar-26 Wholesale funding maturities € million -4,8 -3,9 -4,4 -5,1 -2,3 5.050 750 1.024 1.632 2026 2027 2028 2029 ≥2030 HQLAs 12M average €26Bn Liquid Assets €29Bn Issuance Capacity €6Bn LCR 12M average 197% A.2 Appendix Minimum Requirement for own funds and Eligible Liabilities MREL ratio % RWAs (TREA) 25,44% 25,87% 2,89% Requirement + CBR: 23,0% 3,85% Requirement + CBR: 23,4% 12,35% 12,96% 1,51% 1,75% 2,27% 2,82% 4,50% 6,42% 22,6% Subordination 22,0% Subordination mar-25 mar-26 CET1 AT1 Tier 2 Senior non-preferred + other subordinated liabilities Senior preferred 03. A.3 Appendix AUMs: Well diversified asset classes Customer Off-Balance Sheet AUMs +17% / 10Bn€ €Bn Mutual and pension funds diversification %, mar-26 Alternative Investment and others; 6% 69 29 25 17 20 8 5 9 4 5 5 59 Monetary funds; 9% Equities; 29% mar-25 mar-26 Pension Funds Alternative Investment Funds Advisory Management Bk Mutual Funds Mutual Funds with Third Parties Fixed income; 40% Mixed; 29% A Glossary - Acronyms Concept Definition ALCO Asset-Liability Committee APMs Alternative performance measures 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 CAGR Compound annual growth rate CET1 Common Equity Tier 1 Customer volumes Includes loan book, retail funds and AUMs Customer wealth Includes volumes in accounts and deposits, AUMs and AUCs from Wealth and Retail customers EPS Earnings per share ESMA European Securities and Markets Authority FV Fair Value HTC Held to collect INE Instituto Nacional de Estadística, Spanish national statistics institute LtD Loan-to-Deposit MREL Minimum Requirement for own funds and Eligible Liabilities NPL Non-performing loan P2R (Pilar II) It is a specific capital requirement for each entity that complements the minimum capital requirement (known as Pillar 1 requirement) in cases where it undervalues or does not cover certain risks. It is determined in the context of the Supervisory Review and Evaluation Process (SREP) ROE Return on Equity ROTE Return on Tangible Equity RWAs Risk weighted assets SICAV Investment Company with Variable Capital SREP Supervisory Review and Evaluation Process TBV Tangible Book Value Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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