Bankinter
A Spanish listed financial-services group that combines retail and corporate banking with digital banking, consumer finance, insurance-related activities, and asset management.
Last updated November 4, 2026
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Overview
Bankinter is a Spanish financial-services company headquartered in Madrid. It was established in June 1965 under the name Banco Intercontinental Español as an industrial-bank joint venture between Banco de Santander and BankAmerica. The institution became independent from those founding shareholders in 1972 and changed its orientation to commercial banking. The same year, Bankinter became a publicly listed company on the Bolsa de Madrid; it is also associated with Spain’s IBEX 35 index. The bank’s development has been defined by a relatively technology-oriented approach to banking. In 1993, it pursued a growth strategy involving Banca Partnet and Red Agencial and introduced electronic banking. The move made Bankinter an early digital-banking participant in Spain and helped establish a brand identity centered on service, distribution innovation, and technology. The brand was refreshed in 2006 as the company continued to develop its retail and business banking franchises. Bankinter’s activities extend beyond conventional deposit and lending products. Its business scope includes retail banking, corporate and business banking, mortgages, cards, investment and savings products, insurance distribution and related holdings, asset management, and consumer finance. Its offering has included products such as Cuenta Nómina and Hipoteca Inteligente, while its international consumer-finance operation in Ireland trades under the Avant Money name, following its origins as MBNA Ireland. The group expanded through selected acquisitions rather than through a broad consolidation strategy. In 2009 it acquired a 50% interest in the insurance company Direct Line from The Royal Bank of Scotland. In 2015 it agreed to purchase Barclays’ Portuguese retail-banking business, including 84 offices, and a 50% interest in Barclays Life and Pensions, held with Mapfre. In 2019 it acquired EVO Banco, adding approximately 452,000 customers and strengthening its digital and consumer-banking footprint. A major capital-markets event occurred in April 2021, when Línea Directa was spun off and listed separately. The transaction reduced Bankinter’s ownership from full control to 17.4% and produced capital gains of nearly €1 billion according to the referenced account. Bankinter has also participated in the Portuguese consumer-finance and payments market through Bankinter Consumer Finance and related transactions involving Universo IME. Bankinter is classified as a significant institution within the European banking-supervision framework and has therefore been directly supervised by the European Central Bank since the framework took effect in late 2014. The group remains an active listed Spanish bank with operations extending beyond Spain, while its public positioning continues to emphasize customer service, digital access, and specialized financial solutions rather than sheer domestic scale.
History
Bankinter began in June 1965 as Banco Intercontinental Español, an industrial bank created through a joint venture between Banco de Santander and BankAmerica. Its initial role and ownership structure therefore differed from the commercial retail-bank model associated with the later Bankinter brand. In 1972, the institution became independent of its two founding shareholders, converted into a commercial bank, and was listed on the Bolsa de Madrid. The bank’s subsequent history has been closely connected with distribution and technology. In 1993, it launched a growth program linked to Banca Partnet and Red Agencial and introduced electronic banking. This made it one of Spain’s early digital-banking participants and became an important part of its competitive identity. The brand was transformed in 2006, during a period in which Bankinter continued to develop retail, corporate, investment, and technology-enabled services. Bankinter later broadened its business through insurance and international expansion. In 2009 it bought 50% of Direct Line from The Royal Bank of Scotland. In September 2015, it announced the purchase of Barclays’ Portuguese retail banking business, consisting of 84 offices, together with a 50% interest in Barclays Life and Pensions in partnership with Mapfre. The transaction gave Bankinter a larger presence in Portugal and added insurance-related capabilities. In May 2019, Bankinter acquired EVO Banco and incorporated its approximately 452,000 customers. The transaction supported the group’s digital-banking and consumer-finance strategy. Bankinter also operates in Ireland under the Avant Money name; the business originated as MBNA Ireland. Its wider operating footprint has included Spain, Portugal, Ireland, Luxembourg, France, and Switzerland. The separation of Línea Directa was one of the most consequential portfolio decisions in the bank’s recent history. In April 2021, Línea Directa was spun off and floated as a separate company. Bankinter’s holding fell from 100% to 17.4%, while the transaction was reported to have generated nearly €1 billion in capital gains. The group subsequently remained connected with Portuguese payments and consumer finance through Bankinter Consumer Finance and transactions involving Universo IME. Since European Banking Supervision began operating in late 2014, Bankinter has been designated a significant institution and has been directly supervised by the European Central Bank. The bank’s continuing profile is that of a listed Spanish financial-services group with a substantial domestic franchise, selected international operations, and a business model spanning retail banking, corporate banking, mortgages, cards, investment products, insurance-related activities, asset management, and consumer finance.
- 2023
Approval of Universo IME transaction
[1]The European Commission approves a transaction involving Sonae, Universo IME, and Bankinter Consumer Finance.
- 2021
Línea Directa spin-off and IPO
[1]Línea Directa is separated and listed, reducing Bankinter’s stake to 17.4% and producing reported capital gains of nearly €1 billion.
- 2019
EVO Banco acquisition
[1]Bankinter acquires EVO Banco and incorporates approximately 452,000 customers.
- 2015
Portuguese Barclays business acquisition
[1]Bankinter announces the purchase of Barclays’ Portuguese retail banking business and a 50% interest in Barclays Life and Pensions with Mapfre.
- 2014
Bankinter becomes a significant institution under European banking supervision
[1]The bank falls within the category of significant institutions and becomes directly supervised by the European Central Bank after the European supervision framework takes effect.
- 2009
Direct Line investment
[1]Bankinter acquires 50% of Direct Line from The Royal Bank of Scotland.
- 2006
Brand transformation
[1]The Bankinter brand undergoes a transformation as the group continues to develop its banking activities.
- 1993
Electronic banking is introduced
[1]Bankinter pursues expansion through Banca Partnet and Red Agencial and introduces electronic banking.
- 1972
Independence and commercial-bank conversion
[1]The bank becomes independent from its founding shareholders, changes into a commercial bank, and is listed on the Bolsa de Madrid.
- 1965
Bankinter is founded as Banco Intercontinental Español
[1]The institution is established as an industrial bank through a joint venture between Banco de Santander and BankAmerica.
Products and positioning
A Spanish retail and corporate bank positioned around customer service, digital distribution, technology-led banking, and specialized financial products.
Retail banking account
Cuenta Nómina
A Bankinter payroll-linked current-account offering. It represents the bank’s retail-banking focus on everyday deposits, transaction services, and customer relationships anchored around salary payments.
Mortgage
Hipoteca Inteligente
A Bankinter mortgage offering within its residential-lending business. It illustrates the group’s emphasis on digitally accessible, specialized retail-finance products alongside current accounts, cards, and savings services.
Consumer finance and banking
Avant Money
Bankinter’s consumer-finance and banking operation in the Republic of Ireland. The business began as MBNA Ireland and operates under the Avant Money name.
Digital banking · 1993
Electronic banking
Bankinter’s electronic-banking services, introduced in 1993, formed an early component of its digital distribution strategy and helped differentiate the bank in the Spanish market.
Brand decisions
2023
Participate in the Universo IME transactionM&ABackground
Bankinter Consumer Finance was involved in a Portuguese payment-services transaction requiring European Commission review.
Action taken
The European Commission approved the acquisition of Universo IME by Sonae and Bankinter Consumer Finance.
Aftermath
The approval cleared the transaction under the applicable European competition process.
2021
Spin off and list Línea DirectaM&ABackground
Bankinter reorganized its insurance-related portfolio through a separate public listing.
Action taken
Línea Directa was spun off and floated separately, reducing Bankinter’s holding from 100% to 17.4%.
Aftermath
The transaction generated reported capital gains of nearly €1 billion while leaving Bankinter with a minority stake.
Reported capital gains. Nearly €1 billion (April 2021)
2019
Acquire EVO BancoM&ABackground
Bankinter used an acquisition to increase its digital and consumer-banking scale.
Action taken
It acquired EVO Banco and incorporated approximately 452,000 customers.
Aftermath
EVO Banco became part of Bankinter’s wider retail and digital-banking platform.
2015
Acquire Barclays’ Portuguese retail operationM&ABackground
Bankinter pursued international expansion through the acquisition of an established Portuguese retail-banking platform.
Action taken
It announced the purchase of Barclays’ Portuguese subsidiary, including 84 offices, and a 50% stake in Barclays Life and Pensions with Mapfre.
Aftermath
The transaction expanded Bankinter’s Portuguese banking and insurance-related presence.
Reported purchase consideration. Approximately €100 million for the Portuguese banking subsidiary and €37.5 million for the 50% insurance stake (2015)
2009
Acquire a 50% interest in Direct LineM&ABackground
Bankinter sought to expand its presence in insurance-related financial services.
Action taken
It purchased half of Direct Line from The Royal Bank of Scotland.
Aftermath
The transaction gave Bankinter a significant interest in the insurance business.
Recent events
- Unconfirmed
Reported
Alpha Unmanned Systems closes €4 million financing round[3]
Alpha Unmanned Systems closed a €4 million financing deal backed by Cesce, with participation from Banco Santander, Bankinter and BBVA. The company said it would use the funds to expand production capacity, grow its team and accelerate innovation.
Reported
Bankinter reports record 2021 financial results[4]
Bankinter announced record 2021 financial results, reporting net profit of EUR 1,333.1 million, including a gain from the Línea Directa transaction.
Sources4 sources
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