Bankinter's Q4 net profit rises 23% on lending income [Reuters]
BANKINTER SA S/ADR (BKNIY)
NASDAQ:AMEX Investor Relations:
webcorporativa.bankinter.com/www2/corporativa/en/inf_financiera_cnmv/informacion_financiera/resultados/2011
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Source: Reuters
MADRID, Jan 25 (Reuters) - Spain's Bankinter (BKT.MC) , opens new tab said on Thursday its fourth-quarter net profit rose 23% from the same period in 2022 as lending income benefited from higher interest rates though margins showed signs of slowdown from the previous quarter. The country's fifth-biggest bank by market value reported a net profit of 160 million euros ($174.2 million) in the October to December period, less than the 190 million euros expected by analysts polled by Reuters. Spanish banks are mainly retail lenders and have benefited from higher interest rates charged on loans, often bearing floating rates, that are passed on to customers while they keep a lid on rates paid to savers. Bankinter's net interest income (NII), earnings on loans minus deposit costs, rose 22% year-on-year in the fourth quarter to 575 million euros, below the 584 million euros analysts expected. Against the previous quarter, NII was just 1% higher as the Euribor 12-month benchmark rate u
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