Bankinter Portugal granted €800 million in mortgages in 1H

Bankinter granted €800 million in new mortgage loans in Portugal during the first half of the year, the bank’s CEO, Gloria Ortiz, revealed on Thursday, noting that market demand in Portugal remains robust despite the drop in interest rates.

The figure was disclosed during a Q&A session with journalists after the half-year report presented data for Portugal and Ireland combined.

When asked about mortgage origination for the Portuguese operation, Gloria Ortiz stated that the bank had granted €800 million in new home loans in Portugal between January and June.

During the presentation of the half-year results, Glória Ortiz also referred to Portugal when discussing macroprudential measures for mortgage lending.

In her view, the approach taken by the Bank of Portugal makes more sense than imposing new limits on lending policies. The CEO highlighted that the Portuguese regulator allowed for extended mortgage maturities to facilitate young people’s access to housing, while simultaneously lowering the maximum debt-service-to-income ratio to 45%—a measure she considers more appropriate for managing risk.

According to Glória Ortiz, borrowers’ financial burden is a more relevant indicator of risk than loan duration; she also advocated for public guarantee mechanisms to assist young people with down payments for home purchases.

Bankinter’s Portuguese operation posted robust performance in the first half of 2026, evidenced by sustained growth across all key business indicators. Lending volume reached €11.5Bn—an 8% increase year-on-year—driven by particular momentum in commercial banking, which grew 11% to €7.9Bn, while corporate banking rose 2% to €3.6Bn. Meanwhile, customer funds totaled €15Bn (up 12%), and assets under custody surged 29% to reach €6Bn.

In terms of financial results, net interest income rose 10% to €156 million and net fee income grew 14% to €44 million, boosting the gross margin to €196 million (+10%).

Despite a 7% rise in operating costs (to €63 million)—which grew at a slower pace than revenue—the efficiency ratio improved by 0.8 percentage points, reaching an impressive 32%.

Operating income reached €133 million (+11%), and even after a 28% increase in provisions (to €19 million), pre-tax profit totaled €114 million, representing year-on-year growth of 9%.

Source: Jornal Ecónomico