Axesor Rating maintains Bankinter's unsolicited rating at "A-", changing the outlook from "On Watch" to "Negative".
Bankinter, S.A. (hereinafter Bankinter) is the parent company of the sixth largest Spanish banking group focused on commercial banking, private banking, corporate banking, investment banking and insurance products.
The rating is based on the Group's high profitability, outstanding risk management with a low non-performing loan ratio and solid liquidity position. However, the rating is constrained by Bankinter's limited size, the concentration of business in Spain and the contraction of profits due to the current economic environment and the loss of control of Línea Directa.
Date last rating: 05/07/2021
Date first rating: 05/07/2020