How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Tuesday 22 April 2014
- Things that have annoyed me this week
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
Bankinter reports drop in profits
Spain's Bankinter SA yesterday reported a change of management, following a third-quarter fall of 34 percent in profits as lending revenue declined.
Their net income fell to 43.8 million euros from 66.2 million euros a year previously, they announced in a filing to regulators today.
Bankinter, which does two-thirds of its lending for home loans, is fighting a fall in profits as it re-prices loans to reflect a plunge in interest rates while its own funding costs stay high. The bank said yesterday that Jaime Echegoyen, its chief executive officer for the past eight years, would step down and that Vice-Chairman Alfonso Botin would assume executive responsibility for strategy.
Net interest income plunged 40 percent to 128.1 million euros from 215 million euros a year ago, the bank said. Lending to clients climbed 5.1 percent from a year ago to 41.7 billion euros as customer deposits rose 5.7 percent to 22.9 billion euros.
Bad loans as a proportion of total lending rose to 2.77 percent from 2.69 percent in June and 2.22 percent a year ago, the bank said.
Yesterday, Bankinter reported that Maria Dolores Dancausa, previously head of its Linea Directa insurance unit, would take over from Echegoyen as CEO. Alfonso Botin is the son of Jaime Botin, the brother of Emilio Botin, Chairman of Banco Santander SA.
Latest News & Stories
- Spain investigates offensive Twitter account
- Spain Easter road deaths up on 2013
- Poll finds Spain disapproves of homosexuality the least
- Orange Spain preparing new ADSL price reduction
- Gibraltar Fire Halts Easter Sunday Gambling
- Spain sets example for world in organ donation
- Spain banks' bad loans ratio 13.4% in Feb
- Castellon Airport costs Valencia €46,300 per day
- EU sends investigators to Leon Airport
- Germany cancels scheme to attract young jobless from abroad