Bankinter Explained

Bankinter, S.A.
Former Name:Banco Intercontinental Español
Type:Sociedad Anónima
Key People:Pedro Guerrero
(Chairman)
María Dolores Dancausa
(CEO)
Industry:Financial services
Products:Retail and business banking
Revenue: €1.391 billion[1]
Revenue Year:2019
Operating Income: €2.054 billion
Income Year:2019
Net Income: €550.665 million
Net Income Year:2019
Assets: €83.732 billion
Assets Year:2019
Equity: €4.799 billion
Equity Year:2019
Num Employees: 6,078
Num Employees Year:2019
Location:Madrid, Spain

Bankinter, S.A. (pronounced as /es/), is a Spanish financial services company headquartered in Madrid. It has been listed on the Spanish; Castilian: [[Bolsa de Madrid]]|italic=no since 1972, and is part of the Ibex35 Index. It was founded in 1965 as an industrial bank through a joint venture between Banco Santander and Bank of America.

Bankinter has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[2] [3]

History

Bankinter was founded under the name Banco Intercontinental Español in June 1965 as an industrial bank through a joint venture by Banco de Santander and BankAmerica. In 1972 the bank became fully independent of its founders and transformed itself into a commercial bank.

In 1993, the bank embarked up on a growth strategy with Banca Partnet and Red Agencial. In the same year, it became the first digital bank, following the successful introduction of electronic banking. In 2006, the brand was transformed.

In 2009, Bankinter purchased 50% of the insurance company Direct Line from The Royal Bank of Scotland.

In September 2015, Bankinter announced the acquisition of Barclays' retail business in Portugal, consisting of 84 offices, and Barclays Life and Pensions, the latter in a joint-venture with Mapfre. The bank paid approximately €100 million for Barclays' Portuguese subsidiary and €37.5 million for the 50% stake in the insurance company.

In May 2019, Bankinter acquired EVO Banco, incorporating its 452,000 clients.[4]

Bankinter trades as Avant Money, which began as MBNA Ireland,[5] in the Republic of Ireland.[6]

Office network

By September 30, 2021, Bankinter had a network of 446 offices and 6,119 employees.

Board of directors

The Board of Directors is composed of the following members:

PresidentPedro Guerrero Guerrero
Vice PresidentCartival, S.A.
CEOMaría Dolores Dancausa Treviño
Board memberMarcelino Botín-Sanz de Sautuola y Naveda
Gonzalo de la Hoz Lizcano
Rosa María García García
Fernando Masaveu Herrero
Rafael Mateu de Ros Cerezo
María Teresa Pulido Mendoza
Jaime Terceiro Lomba
The Secretary (non-Director) is Gloria Calvo Diaz.

See also

External links

Notes and References

  1. Web site: Bankinter, S.A.: Annual Report 2019 . 19 November 2020 . en.
  2. Web site: European Central Bank . The list of significant supervised entities and the list of less significant institutions . .
  3. Web site: European Central Bank . List of supervised entities . .
  4. Web site: Alconada . Ángeles Gonzalo . 2019-05-31 . Bankinter cierra la compra de EVO y su filial de consumo irlandesa por 65,8 millones . 2020-02-08 . Cinco Días . es.
  5. News: Gleeson . Colin . September 14, 2020 . Avant Money enters mortgage scene with lowest rate on Irish market . .
  6. News: Brady . Niall . 6 June 2023 . Avant Money loan book soars to €1bn .