Business · Companies · 23 hrs ago

Bankinter aims to fund Portugal and Ireland growth with local deposits

Bankinter aims to fund Portugal and Ireland growth with local deposits

Bankinter wants its businesses in Portugal and Ireland to fund more lending with local deposits as both markets grow.

The Spanish bank is working to close a funding gap in Portugal and build its deposit base in Ireland.

Its group-wide target is to keep loans below deposits, measured by a loans-to-deposits ratio under 100%.

The ratio was 97.6% at the end of September, up from 96.5% a year earlier, as lending grew faster than deposits.

Portugal’s ratio was 114% in September, after lending rose 20% since the end of 2024 and retail deposits rose 14%.

In Ireland, Bankinter is expanding from specialist lending into digital, full-service banking, and expects balancing lending with local deposits to take longer.

Local savings are central to supporting future lending growth, while Portugal and Ireland together account for 17% of group revenue, with Bankinter aiming for 20% in the medium term.

1 source

Related

What people are saying

Gloria OrtizBankinter chief executive
As we continue to expand our network, our objective is to finance more and more of future credit growth with deposits generated locally, thereby building, over time, a more balanced and self-funded business.
via Expansión
BarclaysAnalyst
This will remain part of the debate as expectations for mid-single-digit loan growth continue to exceed expected low-single-digit deposit growth.
via Expansión