Bankinter: “Portugal is an example for other countries. It’s in fashion”

“Portugal is in fashion”, Maria Dolores Dancausa stated during the presentation of Bankinter’s results for 2017. The CEO of the Spanish bank compliments Portugal’s efforts in placing the economy in a growth path, considering the country is “an example for European countries”.

“The year of 2017 was absolutely excellent for Bankinter Portugal”, Maria Dolores Dancausa highlights. The CEO of Bankinter mentions that “important progress has been made in Portugal’s integration process” — after having finished the purchase of Barclay’s businesses –, but also in the level of improvement results.

According to the results of the financial institution, the Portuguese operation made a positive contribution, with a gross profit of 31.4 million euros, which represents an increase in comparison to the previous year’s 7.7 million euros. 

"The year of 2017 was absolutely excellent for Bankinter Portugal.”

This improvement accompanies the Portuguese economy recovery. “The economy, in general, did very well. It had a great year”, the CEO highlights. And she also makes several compliments to the country’s efforts. “The Portuguese were able to surpass a very difficult to overcome crisis and it is an example for many countries”, recalling that Portugal’s Finance minister, Mário Centeno, is now the president of the Eurogroup.

Bankinter had record profits in 2017. It surpassed analysts’ estimates, with a net result of 495 million euros, 1% higher than last year’s profit, of 490 million. The only reason the 2017 balance wasn’t more positive was because of the increase of costs in Portugal, considering the bank headed by Maria Dolores Dancausa only finalized the purchase of Barclays activities in April of 2016.