Bankinter celebrates the end of uncertainty after the failure of BBVA’s takeover bid for Sabadell and calls for a review of the law

The CEO of Bankinter, Gloria Ortiz celebrates the end of BBVA’s takeover bid for Banco Sabadell – which has finally failed -. “It is good news that the uncertainty is over,” he admitted after claiming that the battle in which have been immersed “does not favor” any of the entities. In this regard, he assures that Bankinter has not detected an increase in the number of clients from BBVA and Banco Sabadell. “The business opportunities occur when technological integration occurs and offices are closed,” he stressed.

Given the failure of this operation, the sector has called for the need to review the takeover law, joining other voices like that of the president of BBVA, Carlos Torres; the CEO of CaixaBank, Gonzalo Gortázar, the governor of the Bank of Spain (BdE), José Luis Escrivá, as well as the National Securities Market Commission (CNMV). “They are right, whatever can be improved, they should improve it,” he stated.

During the presentation of the quarterly results, Bankinter has reiterated its strategy of gaining market share both in Spain and in other countries. European markets in which it operates such as Portugal and Ireland. The CEO has denied rumors that she would be exploring a merger with PTSB Bank in Ireland which, he assures, is mere “speculation.” “We have the capacity to grow organically,” commented the CEO, Gloria Ortiz, with a focus on the mortgage segment.

Ortiz has highlighted that Bankinter’s philosophy is to “look at everything” the options, but with the focus on improving metrics without mergers. “We look at all the opportunities that are presented to us and if they arise we analyze them because one of our objectives is to continue diversifying,” he noted. Asked about the possibility of expansion for new geographies with the goal that 30% of its business comes from other regions beyond Spain in the medium term, Ortiz has stressed that, if it occurs, it will be in eurozone countries.

The Madrid bank has recorded a net profit of 812 million, 11% more year-on-year. The data is driven by higher commissions, since the interest margin has been pressured in the recent months in an environment of lower interest rates. In this context, he has admitted that he detects an “irrational” competitive environment in the mortgage segment, about which he has said he will not enter into a price war. “There is a competitive disruption in the segment in which 30-year mortgages are being granted below the price of money,” he pointed out, while asserting that the sale of this product alone is not profitable. “Customers must be linked to other products,” he pointed out.

In recent months the entity has been immersed in its own organic merger with the absorption of EVO Banco, its digital subsidiary, within the entity with which it has added more than 200 employees to its parent company and more than 400,000 clients. This integration plus advances in artificial intelligence will lead them to keep the number of employees stable in 2026without ruling out that it could even be reduced a little.

The entity leads the declines of the Ibex this Thursday with a correction of more than 4%, to 12.77 euros per share. On this point, the financial director, Jacobo Díaz, has downplayed the importance of the taking of profits in the stock market. “Every time we present results they are better than the previous ones, that makes the target price of the share continue to rise,” he concluded.