Deutsche Bank | Bankinter’s (BKT) first-quarter 2026 results have confirmed its strategy focused on delivering solid returns, with an excellent return on equity (RoTE) of 20% and robust net profit growth. This reflects disciplined volume expansion, improved margins and a diversified revenue base. International operations, particularly in Ireland and Portugal, are key to profitable growth and should deliver better risk-adjusted returns, in contrast to a selective stance in the competitive Spanish mortgage market.
The bank’s capital strength supports proactive investments, such as the recent alternative asset management agreement, which, in our view, underpins sustained profitability.
Designed to grow, prepared for risk; Target Price: between €15.65 and €16.10. Last close: €13.89, recommendation: ‘Buy’.
