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BANKINTER NINE MONTHS NET INCOME INCREASES

 BANKINTER NINE MONTHS NET INCOME INCREASES
 MADRID, Spain, Oct. 23 /PRNewswire/ -- Bankinter, S.A.


(NASDAQ: BKISY) today announced that consolidated net income for the nine months ended on Sept. 30, 1992 amounted to pesetas 14,227 million(A), an increase of 1.8 percent over the corresponding period of 1991. Return on Equity increased by 2.2 percent to 17.13 percent. Return on Assets reached 1.66 percent, representing a 9.7 percent increase over the comparable period of 1991.
 Customers' funds under management increased to pesetas 941,438 million as of September 30, an increase of 7.7 percent over year-end 1991. Total assets in mutual funds reached pesetas 372,951, a 92.6 percent increase over the corresponding period last year. Operating costs increased by 9 percent as forecasted earlier, leaving the Bank with a competitive cost-to-income ratio of 35.5 percent.
 The Bank, following the most strict criteria as it believes is required by the current economic environment, decided to fully mark-to- market its Spanish Treasury bond holdings (Investment portfolio) on September 30, rather than taking advantage of the new, more lenient deferral rules recently set by the Bank of Spain which allow the deferral of provisions for bond holdings maturing beyond two years. In taking this action, Bankinter has set aside pesetas 1,750 million as an extraordinary charge against income, paving the way for potential capital gains in the future.
 As announced earlier, Bankinter has called a special Shareholder's Meeting to be held in Madrid on November 11 to request shareholder's approval for a 5 percent reduction in paid-in capital. The Bank's management said the action, if approved, would favorably affect earnings per share and enable it to continue increasing the dividend paid on each Bankinter share. This reduction would not significantly change Bankinter's strong solvency ratio, which is more than 16 percent and continues to be more than double the B.I.S.
 Bankinter is one of Spain's leading commercial banks. Based on its return on assets at the end of fiscal 1991, it was the second most profitable of the major Spanish banks. The Bank has a sponsored American Depositary Receipt (ADR) facility and its ADRs trade in the over- the-counter market in the U.S.
 (A) -- On Sept. 30, 1992, $ US 1.00 was equal to 99.023 pesetas.
 BANKINTER, S.A.
 Balance Sheet (A)
 Percent
 ASSETS Sept. 92 Sept. 91 variation
 Cash and Bank of Spain 26,742 73,855 (63.79)
 Treasury debt 271,527 559,586 (51.48)
 Due from banks 262,313 84,748 209.52
 Credit and loans (net) 538,245 551,683 (2.44)
 Non-performing loans 20,300 12,652 60.45
 Other fixed-income
 securities 2,945 1,273 131.34
 Own shares held 5,063 176 2,776.70
 Equities 3,012 4,120 (26.89)
 Premises and equipment 20,968 22,384 (6.33)
 Other assets 13,515 9,337 44.75
 Accruals 15,567 23,443 (33.60)
 Total 1,180,197 1,343,257 (12.14)
 LIABILITIES
 Paid-in capital 28,349 28,349 0.00
 Reserves 83,273 83,071 0.24
 Due to Banks 331,580 328,069 1.07
 Customers' deposits 613,114 758,157 (19.13)
 Bonds & notes 12,990 16,057 (19.10)
 Other payments obligations 36,710 39,480 (7.02)
 Accruals 32,311 47,530 (32.02)
 Other liabilities 41,870 42,544 (1.58)
 Total 1,180,197 1,343,257 (12.14)
 Comparative Income Statements (A)
 Percent
 9/30/92 9/30/91 variation
 Average total assets 1,146,871 1,237,536 (7.33)
 Financial revenues 105,523 114,320 (7.70)
 Financial costs 74,262 78,396 (5.27)
 Gross margin 31,261 35,924 (12.98)
 Commissions 11,439 5,525 107.04
 Operating margin 42,700 41,449 3.02
 Operating costs 15,163 13,932 8.84
 Personnel expenses 9,856 8,812 11.85
 General expenses 5,247 5,041 4.09
 Other taxes 60 79 (24.05)
 Operating profit 27,537 27,517 0.07
 Disposal of sec.& assets (122) 3,238 (103.77)
 Extraordinary income 1,154 (124) 1,030.65
 Cash flow 28,569 30,631 (6.73)
 Provisions 7,539 7,378 2.18
 Profit before taxes 21,030 23,253 (9.56)
 Tax provision 6,803 9,277 (26.67)
 Net profit 14,227 13,976 1.80
 (A) -- In millions of pesetas
 The above figures reflect the new accounting rules applied in compliance with the Bank of Spain's Circular 4, 1991.
 -0- 10/23/92
 /CONTACT: Jaime Echegoyen of Bankinter, S.A., 011-341-339-7600, or Jerome Wattel, 212-599-2369, for Bankinter, S.A./
 (BKISY) CO: Bankinter, S.A. ST: IN: FIN SU: ERN


TS -- NY056 -- 4243 10/23/92 14:37 EDT
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Date:Oct 23, 1992
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