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BANKINTER SEEKS APPROVAL FOR NEW STOCK BUY-BACK

 MADRID, Spain, Jan. 18 /PRNewswire/ -- BANKINTER, S.A. (NASDAQ: BKISY) announced today that it is calling a special shareholders meeting on Feb. 11 in Madrid to seek the approval of the bank's shareholders to further reduce the bank's paid-in capital by canceling and retiring shares already acquired on the open market.
 This transaction follows a previous one which was carried out last November when 5 percent of the outstanding shares were retired. If approved by shareholders, the proposed transaction would reduce the total number of outstanding shares by 5 percent to 17,056,672.
 In making this announcement, the bank said that BANKINTER's solid solvency ratios would not be significantly altered. The bank's capital ratio as measured by B.I.S. standards would remain at approximately 16.7 percent, with Tier I, or core capital at over 13.5 percent.
 The bank noted that the various projects it has under way to guarantee healthy growth in medium-term earnings are not capital intensive. Therefore, in management's view, it seemed appropriate to invest a portion of 1992's earnings in its own banking business by acquiring its own shares in a weak market.
 This new retirement of shares will further enhance the bank's earnings per share and should enable the bank to continue to increase future dividends paid on its shares. In addition, the bank pointed out that the book value of each share would increase from 6,525 pesetas to approximately 6,733 pesetas. The BANKINTER share continues to trade at a discount to book.
 BANKINTER is Spain's seventh largest publicly-traded, commercial bank. The bank's American Depositary Shares are traded in the U.S. over- the-counter market.
 -0- 1/18/93
 /CONTACT: Alfonso Alfaro, 011-341-339-7561, or Jerome Wattel of Wattel/Della Corte & Arkin, 212-599-2369, both for BANKINTER/
 (BKISY)


CO: BANKINTER, S.A. ST: IN: FIN SU:

CK -- NY033 -- 5851 01/18/93 11:17 EST
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Publication:PR Newswire
Date:Jan 18, 1993
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