Q3 2024 Bankinter SA Earnings Call Transcript
Key Points
- Bankinter SA (BKIMF) reported strong financial results with a 7% increase in net profit year-on-year, reaching EUR 731 million.
- The company achieved a 17% return on equity, significantly above the cost of capital, indicating strong shareholder value creation.
- Bankinter SA (BKIMF) demonstrated robust growth in its loan book by 5% and retail deposits by 4%, with off-balance sheet products growing by 23% year-on-year.
- The company successfully diversified its income sources, with net interest income increasing by 5.5% and fees growing by 13.5%, reflecting successful commercial activities.
- Bankinter SA (BKIMF) maintained an exceptional cost-to-income ratio of 35%, showcasing strong operational efficiency.
- The company experienced a 2% decrease in net interest margin on a quarter-on-quarter basis due to interest rate movements.
- Deposit costs increased by 7 basis points, impacting the overall cost structure.
- There is anticipated volatility in net interest income over the coming quarters due to fluctuating interest rates.
- The company faces challenges in maintaining customer margins amidst changing interest rate environments.
- Bankinter SA (BKIMF) noted a temporary impact on quarterly net interest margin due to the rapid repricing of corporate banking books.
Good morning. This is Laurie Shepherd on behalf of investor relations. Avant It is our pleasure to welcome you all to the B de Jines call for the third quarter of 2024.
Please note that our related financial statements were posted with market authorities earlier this morning. All materials are also available on our corporate website on today's call. We are joined by BTAS, Chief Executive Officer Gloria Ortiz and Chief Financial Officer Jacobo Diaz. At the end of the presentation, we will respond to analyst questions in a live Q&A also please refer to the disclaimer in the presentation and note that this call is being recorded.
I will now turn over to Gloria Ortiz to review the highlights after which he will review in detail, the financial results and the performance of our business segments across the group.
Thank you, Laurie and Good morning to everyone in the call to start on page 5. I would like to highlight that
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