Bankinter Q2 profit beats estimates on lending fees

Bankinter reported a 16% year-on-year rise in Q2 net profit to €315 million, surpassing expectations on higher lending income and a notable jump in fees. Net interest income grew about 5% y/y as loan yields benefited from rate dynamics, while lending income and fee income contributed to stronger quarterly performance; costs were contained, helping to support margins. A €23 million one-off performance fee from Helia asset sales boosted pretax income, though stripping this item shows pretax profit roughly in line with estimates; the broader trend emphasizes a mix of rising fee income and steady lending growth. The bank highlighted solid profitability and capital resilience, with a CET1 ratio around 12.9%, ROE near 19.1%, and ROTE about 20.4%, alongside a reduced non-performing loan ratio of 1.92% and a cost-to-income ratio in the mid-30s. First-half results showed continued growth in customer volumes and diversification of income, with loan and deposit dynamics underpinning earnings and a positive outlook for mid-single-digit lending growth. Overall, Bankinter’s quarterly gains reflect a combination of higher volumes, disciplined cost control, and a increasingly diversified revenue base across geographies and business lines.