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BANKINTER REPORTS PTAS. 10.25 BILLION NET FOR FIRST HALF 1993, DECREASE OF 9.3 PERCENT AFTER ALLOCATING EXTRAORDINARY PROFITS TO PROVISIONS

 MADRID, July 21 /PRNewswire/ -- BANKINTER, SA (NASDAQ Bulletin Board: BKISY) today announced that net income for the first half of 1993 amounted to 10.25 billion pesetas (A), a decrease of 9.3 percent over the same period last year. Capital gains on its Spanish treasury bond portfolio amounted to over 7 billion pesetas and were allocated to provisions in the same amount, to hedge against future interest rate changes. Accordingly, the bank's cash flow amounted to pesetas 26.9 billion, an increase of 30.2 percent over the previous year.
 Earnings per share (EPS) rose to 631 pesetas, a 5.5 percent over 1992 first half, based upon a lower number of shares outstanding.
 Return on equity (ROE) was maintained at the 20 percent level compared with
the first half of 1992. Return on Assets (ROA) declined to 1.63 percent in the same period due to the 7.5 percent increase in average total assets.
 Customers' deposits experienced a significant growth of 14.7 percent over the amount reported a year ago. Moreover, total funds from customers reached 1.07 trillion pesetas exceeding the one trillion peseta level for the first time in the bank's history. This represents an increase of more than 100 billion pesetas in on-and-off balance sheet funds managed by the bank, adding significantly to a 12.3 percent increase in operating profit.
 The Bank maintained a very competitive cost-to-income ratio of 34.98 percent for the period.
 BANKINTER is the eighth largest publicly owned bank in Spain and one of the most profitable. The bank's sponsored American Depositary Receipts (ADR's) are traded in the US.
 (A) On June 30, 1993, $ US1.00 was equal to 129.12 pesetas.
 BANKINTER, SA
 Balance Sheet
 (In millions of pesetas)
 As of June 30 1993 1992 VARIATION (Percent)
 ASSETS
 Cash and Bank of Spain 5,689 9,166 (37.93)
 Treasury debt 640,392 351,147 82.37
 Due from banks 176,240 93,619 88.25
 Credit and loans (net) 481,163 544,427 (11.62)
 Non-performing loans 26,512 16,936 56.54
 Other fixed-income
 securities 5,485 1,830 199.73
 Own shares held 2 1,664 (99.88)
 Equities 4,333 5,364 (19.22)
 Premises and equipment 23,319 21,800 6.97
 Other assets 23,338 14,366 62.45
 Accruals 19,325 16,666 15.95
 Total 1,405,798 1,076,985 30.53
 LIABILITIES
 Due to Banks 440,462 211,329 108.42
 Customers' deposits 727,380 600,975 21.03
 Bonds & notes 10,016 41,499 (75.86)
 Other payments
 obligations 29,864 35,825 (16.64)
 Accruals 55,385 37,269 48.61
 Other liabilities 43,721 38,447 13.72
 Reserves 74,610 83,292 (10.42)
 Paid-in capital 24,360 28,349 (14.07)
 Total 1,405,798 1,076,985 30.53
 BANKINTER, SA
 Comparative Income Statements
 (In millions of pesetas)
 First half ended June 30 1993 1992 VARIATION (Percent)
 Average total assets 1,269,317 1,180,660 7.51
 Financial revenues 90,221 71,630 25.95
 Financial costs 66,572 50,475 31.89
 Gross margin 23,649 21,155 11.79
 Commissions 7,889 7,128 10.68
 Operating margin 31,538 28,283 11.51
 Operating costs 11,031 10,021 10.08
 Personnel expenses 6,648 6,564 1.28
 General expenses 4,354 3,414 27.53
 Other taxes 29 43 (32.56)
 Operating profit 20,507 18,262 12.29
 Disposal of sec. & assets 5,952 1,647 261.38
 Extraordinary income 438 754 (41.91)
 Cash flow 26,897 20,663 30.17
 Provisions 9,724 1,018 855.21
 Depreciation 1,492 1,777 (16.04)
 Profit before taxes 15,681 17,868 (12.24)
 Tax provision 5,431 6,567 (17.30)
 Net profit 10,250 11,301 (9.30)
 -0- 7/21/93
 /CONTACT: Alfonso Alfaro, 011-341-339-7561 or Frank Della Corte, 212-599-2369, both of BANKINTER/
 (BKISY)


CO: BANKINTER, SA ST: IN: FIN SU: ERN

WB -- NY055 -- 3942 07/21/93 12:31 EDT
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Date:Jul 21, 1993
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