Bankinter obtained a net profit of 317 million euros in 2020, 42% less than the previous year, due to the impact of the provisions of 242.5 million that it provided to face the worsening of the economy due to covid-19 and also due to the absence of the extraordinary income that was recorded in 2019. The entity highlights that in a year “complicated” by the impact of the coronavirus pandemic, it has managed to improve its margins.
Thus, the pre-tax result of banking activity is reduced to 230.5 million euros, 62% less than in 2019, as reported by the bank, which has attributed this decline to both provisions and the absence this year of the extraordinary that the entity scored in 2019 for the purchase of EVO Banco. The result of recurring banking activity is 473 million euros, 13.2% lower than in 2019.
The insurance business did better. Thus, Línea Directa’s profit before tax, separated from banking activity, reached 179.6 million euros, 25.7% more than a year ago.
In a statement sent this Thursday to the National Securities Market Commission (CNMV), the bank adds that the CET1 solvency ratio fully loaded -which includes all regulatory capital requirements- stood at 12.3%, above the 7.7% minimum required by the European Central Bank (ECB).
The group has highlighted that it closes 2020 with results that, despite the “complicated” of a year marked by the impact of the pandemic, show growth in all margins and in the main lines of business. “The bank maintains at the same time its leadership among listed banks in terms of profitability and quality of assets, and with a strengthened solvency that continues to be well above the ECB’s regulatory requirements,” he stressed.