BKIMF - Bankinter S.A. (BKIMF) Q4 2023 Earnings Call Transcript
2024-01-25 12:13:03 ET
Bankinter, S.A. (BKIMF)
Q4 2023 Earnings Conference Call
January 25, 2024 03:00 ET
Company Participants
David López - Investor Relations
Jacobo Diaz - Chief Financial Officer
Alfonso Alfaro Llovera - Deputy General Manager
Presentation
David López
Good morning and welcome to Bankinter 4Q 2023 Earnings Call. Our CFO, Jacobo Diaz will now talk you through the main details of our last 12 months’ performance. Jacobo, the floor is yours. Thank you.
Jacobo Diaz
Hello, good morning. Good morning to everyone and welcome to Bankinter’s earnings presentation for the fourth quarter and full year of 2023. The related financial statements, as usual, were posted on the website of the CNMV before market opened. As usual, all documents can also be found on our corporate website.
2023 has been another year with outstanding commercial performance in the regions where we operate. This is clearly shown by the differential and almost unique performance in volume growth in all balance sheet and off-balance sheet items that, together with the interest rate new scenario, have become the driving forces for the relevant growth in our operating income and pre-provisioning profit of 28% and 43%, respectively. This outstanding performance, together with the maintained solid asset quality and capital levels, has made 2023 a record year in Bankinter’s 58-year story. 2023 will not be the peak year for Bankinter. We are committed and driving all our commercial efforts to make this 2024 a better year than ‘23 in terms of net profit and maintaining growth rates in volumes.
Let me be more specific about some of the achievements during this record year. We have closed the year showing a solid growth in our loan portfolio, also retail deposits with a manageable cost increase, and finally in assets under management, thanks to the very positive commercial activity and customer acquisition during the year. Second, the strong increase shown in our NII is mainly due to a 4% loan growth in the year, and the impact of the ECB rates basis in our variable rate loan book, that resulted in an increase of 44% of growth in NII, in the higher range of last guidance provided. Third, fee income has been able to achieve the growth rate that we have guided for the year and with no extraordinaries....
Bankinter, S.A. (BKIMF) Q4 2023 Earnings Call Transcript