Bankinter reports Q3 net income slightly below expectations

Investing.com -- Bankinter on Thursday reported third-quarter net income of €270 million, falling 1% below consensus estimates, with small misses on revenue and costs.

The Spanish bank’s profit before tax missed expectations by 2%, with pre-provision profits also coming in 2% below forecasts. Both revenue and costs were 1% below consensus estimates.

Net interest income was 1% lower than expected, though it increased 1% quarter-over-quarter while remaining flat year-over-year. Customer margins narrowed by 8 basis points compared to the second quarter. Loan yields decreased by 22 basis points from Q2 levels, while deposit costs fell by 14 basis points. The bank’s ALCO portfolio grew by €0.2 billion during the quarter.

Net fee income met expectations and showed 11% growth compared to the same period in 2024. Trading income reached only €1 million versus the €7 million Jefferies analysts had anticipated.

Operating expenses were 1% higher than consensus and increased 3% year-over-year compared to 2024’s quarterly average, though the bank expects fourth-quarter costs to decrease compared to Q4 2024.

Total impairment charges, including gains and losses on asset disposals, amounted to €101 million, slightly below the €103 million consensus estimate. The cost of risk for the first nine months of 2025 stood at 0.33%.

Customer loans were 2% below expectations, declining 1% quarter-over-quarter but rising 5% year-over-year. Deposits exceeded forecasts by 2% and grew 1% from the previous quarter.

Bankinter’s CET1 capital ratio reached 12.9%, beating consensus by 30 basis points, with risk-weighted assets 3% better than expected. The ratio includes 10 basis points of positive valuation adjustments.

The bank’s return on tangible equity for the last 12 months was 19.4%.

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