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19 19. Quarterly events S&P raises Bankinter’s credit rating outlook In mid-July, Standard & Poor´s credit rating agency confirmed Bankinter’s long- and short-term rating at ‘BB/B’, raising its outlook for the Bank from ‘negative’ to ‘stable’. The US agency, which sees an upward revision of the credit rating as likely in the medium term, based its decision on Bankinter’s ability to generate recurring profits in spite of the adverse context in Spain, and on the efforts made to bolster its capital. In making its decision, S&P also took account of the high quality of the bank’s assets compared to those of other Spanish banks. According to S&P, the Bank’s low level of NPLs and the reduction in future provisioning requirements following the exceptional additions required of the financial sector in 2012, will have a positive effect on Bankinter’s organic earnings and on its ability to generate capital. In its report, the rating agency also speaks highly of the change made by Bankinter to its business model, reducing its previously heavy dependence on low-margin mortgage lending to focus on growth in the corporate lending business and the private banking customer segment. It also highlights the Bank’s efforts to change its financing mix, reducing its reliance on wholesale markets in favour of greater weighting of retail financing. Bankinter EURIBOR + 1.95 Mortgage Loan Bankinter recently gave a further boost to its mortgage loan offering by improving the terms of the floating rate mortgage loan to include a margin over EURIBOR up to 1.95%, with no opening or early repayment commissions and no minimum interest rate; in other words the most favourable conditions in the market for a product of this kind. Bankinter’s new mortgage loan features a first-year interest rate of 3.9% if the borrower takes out payment protection insurance, or 4.2% otherwise. After the first year, the interest rate applied is EURIBOR plus a margin that can be as low as 1.95% if the borrower signs up for the corresponding overall product package: direct payroll deposit, three utility bills, life insurance and home insurance. If any of these three products is not signed up for, the margin will increase: by 1% without direct payroll deposit or life insurance, and by 0.25% without home insurance. We should point out that this new sales campaign includes new special conditions for borrowers aged under 35. For these customers Bankinter undertakes, by means of a certificate, to maintain the EURIBOR applied at the time of signing for three years, passing on the benefit of any reductions on the first two annual revisions but not the effect of any increases. The commercial offer of this product is conditional upon the acquisition of a primary residence with an appraised value equal to or in excess of €150,000, a maximum loan-to-value of 80%, and borrowers with aggregate net income of at least €3,000 per month. The maximum term for which the mortgage loan can be taken is 30 years.
20 Bankinter’s new mortgage loan features all the benefits that the Bank normally offers with this type of product, and can be signed up to on the same financial terms as a ‘Hipoteca Sin Más’, i.e. using the mortgaged residential property as the only security. New online fixed income broker Bankinter has launched a new online fixed income broker, through which the Bank’s customers can directly access a wide range of public and private debt issues both domestic and international. Bankinter’s fixed income broker enables clients to buy and sell debt issues in the secondary market, use various search tools to filter the issues best suited to each particular customer’s needs and actively monitor the fixed income portfolio, accessing the valuations of their issues, the details of their transactions, movements, coupon payments, etc. The fixed income broker product offering includes domestic and foreign public and private debt issues: mortgage-backed bonds, senior private debt and subordinated debt. Bankinter Mobile Telephony, relaunch of the operator with new rates. During the quarter, Bankinter’s mobile telephony distribution service launched a new commercial offering which, among other advantages, includes calls at one euro cent a minute at any time and to any destination. The new Smartphone Rate, positioned as one of the cheapest in the market, involves a drastic reduction in the nominal price per minute compared with the rates previously offered by the operator. Along with calls at one euro cent a minute, the new Smartphone Rate features the following conditions: a monthly fee of €6, which includes a flat rate for 500 MB of high-speed data; as well as free calls between Bankinter telephones and no charge for data traffic to Bankinter destinations, meaning that navigation and SMS to the Bank’s web pages and services from a mobile phone, or even using the broker service from a mobile, will cost the customer nothing. For customers who make more intensive use of the mobile phone, Bankinter offers one of the cheapest voice and data rates in the market, the ‘Tarifa 19’, which includes 250 minutes a month of ‘anytime, anywhere’ calls and 1 GB of high-speed data navigation. All this for just €19 a month for life, without a long-term commitment.
Page 1 and 2: Información consolidada 3T septiem
Page 3 and 4: 2 1. Economic and financial environ
Page 5 and 6: 4 3. Results The Bankinter Group po
Page 7 and 8: 6 4. Balance sheet thousands euros
Page 9 and 10: 8 6. Quality of assets thousands eu
Page 11 and 12: 10 9. Quarterly statements of incom
Page 13 and 14: 12 11. Yields and costsin % 30/09/2
Page 15 and 16: 14 13. Contribution by business are
Page 17 and 18: 16 16. Creation of shareholder valu
Page 19: 18 Evolution of the % of clients wh
Page 23: Bankinter SA Paseo de la Castellana

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