Bankinter, S.A. Q3 2026 Earnings Recap

Bankinter fell 8.4% after earnings, suggesting investors were disappointed despite year-to-date profit growth. The transcript points to a possible concern in the outlook: management highlighted continued growth and resilient margins but provided no forward guidance in the portion available, while quarterly customer margin was 2.71% and NII growth was 2.1% quarter-on-quarter.

Key Takeaways

• Nine-month net profit rose 11% year-on-year to €901 million; return on tangible equity was 20.4%.
• Third-quarter net interest income reached €602 million, up 6.3% year-on-year and 2.1% quarter-on-quarter. Customer margin was 2.71%, with asset yields up 7 basis points and deposit costs up 6.
• Net fees increased 13% to €651 million; excluding a €23 million second-quarter performance fee, underlying recurring fees grew 9%. Asset management and brokerage revenues rose 22%.
• Revenue growth of 6.5% exceeded expense growth of 2.3%; the cost-to-income ratio improved to 34.8%.
• Asset quality and capital remained solid: the NPL ratio was 1.84%, and the CET1 ratio was 13.2%.