Spanish lender’s Irish unit saw its pretax profit jump 20% to €20m in the first half of year
Spanish banking group Bankinter ’s Irish loan book grew by 41 per cent year-on-year in the first half of 2024 to €3.5 billion, driven by mortgages business in its local Avant Money unit.
Bankinter executives said on a call with analysts that they expect to receive regulatory approval for an Irish bank branch in the first half of 2025 and launch in the middle of the year.How many times does Ireland have to be warned about shadow banking? Bankinter, the fifth-largest Spanish bank with a €118.4 billion balance sheet, entered the Republic in 2019 through the acquisition of Avantcard, a credit card and consumer finance business, from US investment group Apollo. Avantcard was subsequently renamed Avant Money, which moved into Irish mortgages in late 2020 with rates starting at 1.95 per cent for fixed-term products, undercutting the cheapest home loans available at the time in the market.
Bankinter Mortgages Finance-Ireland Ics-Mortgages Bawag
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