Bankinter calculates that the new mortgage production in the Netherlands channeled through Tulp will reach 1 billion euros in 2027, as detailed this Thursday by the CEO of the entity, Gloria Ortiz, during a conference with analysts following the presentation of the quarterly results.
The entity announced in June the agreement to acquire the Dutch mortgage broker, which has allowed it to enter a new market. With this operation, Bankinter has incorporated 400 million euros in mortgages directly from Tulp into its balance sheet.
As of September 30, Bankinter's total mortgage portfolio stood at around 40 billion euros, 5% more than on the same date the previous year. In the third quarter, new mortgage production advanced by 8%, to 1.5 billion euros, of which approximately 720 million originated in Spain and the rest in Ireland and Portugal.
"We believe that we can start producing mortgages financed by us by the end of the year," Ortiz has pointed out. This means that there will be "little production" in 2026, due to the time lag between the signing of the mortgages and their accounting registration. Nevertheless, for the next fiscal year, the bank maintains a target of new mortgage production between 800 and 1,000 million euros.
Regarding the business performance in the quarter, the CEO has highlighted that the combination of efficiency, risk quality, and organic capital generation provides the entity with the capacity to finance "profitable growth." In the same vein, the CFO, Jacobo Díaz, has emphasized that Bankinter continues to prioritize the allocation of capital towards those businesses and markets where it detects "more attractive risk-adjusted return opportunities."
Looking ahead, the CFO has pointed out that net interest income (the interest margin of the sector) should continue to grow in the short and medium term, supported by the increase in volumes, the margin with clients, and the current interest rate environment.
When asked about the recent ruling of the Court of Justice of the European Union (CJEU), which establishes that payment operators must reimburse defrauded amounts to a customer within one day even when there is negligence on the part of the customer, Bankinter does not foresee a significant effect either on its provisions or on the level of litigation.
"We make millions of transactions securely every day and we have very few fraud problems," emphasized Gloria Ortiz.
Regarding the capital position, Ortiz indicated that the bank feels "comfortable" operating with a capital buffer of up to 500 basis points over the regulatory minimums. Bankinter closed the third quarter with a CET1 capital ratio of 13.18%, which equates to an excess of 471 basis points over the requirements set for 2026 and 412 points over the demands that will come into effect on January 1, 2027.
If the entity exceeds the threshold of 500 basis points, the board of directors would analyze how to manage that capital surplus in relation to its dividend policy.
When asked about the impact of inflation and the evolution of expenses, the chief financial officer insisted that Bankinter is managing costs "quite efficiently." The bank believes it can continue to improve its level of efficiency without resorting to restructuring plans or office closures. Instead, the entity plans to rely on investments in artificial intelligence (AI), data analytics, automation, process redesign, and simplification of the organizational structure.