Significant growth in customers and business
Bankinter's activity in Portugal grew substantially in 2019, thanks to the work carried out in the main business segments. This work, together with the progressive expansion of the brand, led to uptake of more than 20,000 new customers over the year.
One of the keys to this success was the strong investment in training for both the central services and network teams. As a result, Bankinter today has one of the best financial advisory services in the Portuguese banking sector.
This in turn has produced a clear improvement in the customer satisfaction index, which in November 2019 stood at 28.4%, more than five percentage points above the figure seen in the same month of the previous year.
Commercial Retail Banking
The 19% increase in customers led to the acquisition of 689 million euros in new net assets (on- and off-balance-sheet funds), 28% more than in 2018. The rise in new lending (34%), totalling 797 million euros, was another standout.
Mortgage loans of 693 million euros were extended, marking an increase of 35%, putting the Bank's market share at 6.63%, according to figures for October. One key initiative was the introduction of fixed interest rates for terms of two to 30 years, which is an unprecedented move in Portugal.
Corporate Banking
In the SME segment (turnover of up to five million euros a year), turnover increased by 291 million euros (25%) to 1,500 million euros, while the process to digitalise and adapt services for each type of enterprise continued.
Four new centres were opened, specialising in medium-sized enterprises and Corporate Banking, giving the network a truly nationwide reach. The number of customers under management increased by 25% and gross operating income by 26%.
Bankinter Investment launched the country's first real estate management investment fund (Ores Portugal), while in the capital markets area the Bank structured three issuances and acted as placement agent for two of the most significant debenture loans of the year in Portugal.
In the International Business area, the priority was to gain maximum visibility in a highly competitive market, by strengthening web solutions to reach more companies.
Consumer finance
In Portugal, Bankinter Consumer Finance reported more than 200 million euros in loans and over 120,000 customers. Its main task was to expand products and functions, and achieve faster and more efficient contracting, carried out solely through digital channels.
In the area of direct financing through the Bankintercard brand, the focus was on growing the cards business, where the forging of partnership agreements remains the main strategy.
Asset management and insurance
Total assets under management at 31 December stood at 680 million euros, of which 133 million euros correspond to investment funds, a 24% increase compared to 2018. In the third-party portfolio management business, assets totalled 547 million euros, a rise of 9%.
In regard to life insurance, assets under management grew by 154 million euros, an improvement of 11% compared to the previous year, largely on the back of the success of insurance policies associated with business and consumer finance. With more than 100,000 active policies, mathematical reserves exceeded 1,500 million for the first time.