Bankinter has shot up its profit to 1,333 million euros, thanks to the added value of Línea Directa, but without taking that into account, the bank closes 2021 with net profits of 437 million euros, 38% more than a year ago. It thus exceeds the estimates of the Bloomberg market consensus, which expected a profit of 412 million.
For Victoria Tower, of Singular Bank, the highlight of these accounts is precisely that, that the comparison is complicated and you have to look at the recurring business. Although those 437 million represent a rebound compared to 2020, they are still below what the bank obtained in 2019. Bankinter expects that next year it will return to pre-pandemic levels, “we will have to see if it finally achieves it.”
The interest margin has grown by only 2% compared to the previous year and it is in commissions where it is showing the strongest, it has grown more prominently and has thus managed to offset the costs. Victoria also highlights that the ROE, of 9.6%, “very well aligned to meet the entity’s objective of having double digits in 2022”.
On a technical level, Bankinter is in the consolidation phase.
Check here the technical indicators of Investment Strategies for Bankinter.