Bankinter

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Bankinter, S.A. is a Spanish bank based in Madrid. It started in 1965 as Banco Intercontinental Español, a joint venture between Banco Santander and Bank of America. In 1972 it became independent and focused on retail and commercial banking. It was an early pioneer of online banking, launching electronic banking in 1993 and later updating its brand.

The bank is listed on the Madrid Stock Exchange (ticker BKT) and is part of the Ibex 35 index. It’s considered a Significant Institution under European Banking Supervision and is supervised directly by the European Central Bank.

Bankinter has grown by buying other financial services companies. In 2009 it bought a stake in Direct Line Insurance from The Royal Bank of Scotland. In 2015 it acquired Barclays’ retail banking business in Portugal (plus Barclays Life and Pensions). In 2019 it bought EVO Banco. In 2021 it spun off Línea Directa, reducing its ownership from 100% to 17.4% and generating nearly €1 billion in gains. In 2023 the European Commission approved a deal involving Universo IME and Bankinter Consumer Finance.

The bank operates in retail and business banking, insurance, and consumer finance. It also runs Avant Money in Ireland (formerly MBNA Ireland). As of recent years, Bankinter has hundreds of offices worldwide and thousands of employees.

Leadership includes María Dolores Dancausa (non-executive chair) and Gloria Ortiz (CEO). In 2019 Bankinter reported revenue of about €1.39 billion, assets around €83.7 billion, and net income around €550 million. By 2021 it had about 446 offices and roughly 6,100 employees.