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BANKINTER REPORTS 18,575 MILLION PESETAS NET FOR FY1992

 MADRID, Spain, Jan. 21 /PRNewswire/ -- BANKINTER, S.A. (NASDAQ: BKISY) today announced that net income for the fiscal year 1992 amounted to 18.575 billion pesetas (on Dec. 31, 1992, US$1 was equal to 114.623 pesetas), a decrease of 1.29 percent compared to the previous year.
 Return on equity increased to 16.83 percent, compared to 16.78 percent for the previous year. Return on assets reached 1.60 percent, representing a 6.53 percent increase over 1991.
 Customers' funds under management increased to 939.978 pesetas billion as of Dec. 31. Total assets in mutual funds managed by the bank's wholly owned subsidiary -- Gesbankinter -- reached 385.609 billion pesetas, and contributed significantly to the 82.92 percent increase in the bank's fee income for the year.
 The bank maintained a very competitive cost-to-income ratio of 38.65 percent for the year. This was achieved through further cost containment, reductions in the number of employees and the closing of some branches, while revenues increased.
 BANKINTER started this year with a quarterly dividend payment program. Accordingly, on Jan. 9, 1993, a third interim dividend of 100 pesetas was paid against 1992 profits. A fourth and final dividend will be paid in April 1993.
 On Jan. 17, 1993, the bank announced it will seek shareholders' approval to further reduce its capital by 5 percent in February. This transaction, if approved by the shareholders, will follow another 5 percent buy-back carried out last November. In management's view, given the non-capital intensive nature of the various projects the bank has under way, it seemed appropriate to invest a portion of 1992's earnings in its own business by acquiring shares in a weak market.
 BANKINTER is the seventh largest publicly owned bank in Spain and one of the most profitable. The bank's sponsored American Depositary Receipts (ADRs) are traded in the United States.
 BANKINTER, S.A.
 Balance sheet
 (In millions of pesetas, after allocation of profits)
 Periods ended Dec. 31 1992 1991 VAR PCT.
 ASSETS
 Cash and Bank of Spain 7,550 59,595 (87.33)
 Treasury debt 423,581 502,297 (15.67)
 Due from banks 161,729 97,694 65.55
 Credit and loans (net) 538,203 578,551 (6.97)
 Non-performing loans 25,012 13,961 79.16
 Other fixed-income securities 5,138 5,185 (0.91)
 Own shares held 4,588 26 17,546.15
 Equities 5,146 3,860 33.32
 Premises and equipment 23,644 21,910 7.91
 Other assets 23,536 14,369 63.80
 Accruals 16,827 30,536 (44.89)
 TOTAL 1,234,954 1,327,984 (7.01)
 LIABILITIES
 Due to Banks 349,662 301,566 15.95
 Customers' deposits 662,828 755,574 (12.27)
 Bonds & notes 12,051 34,593 (65.16)
 Other payments obligations 33,226 36,548 (9.09)
 Accruals 26,476 50,943 (48.03)
 Other liabilities 43,660 38,768 12.62
 Minority interest 520 - -
 Reserves 79,599 81,643 (2.50)
 Paid-in capital 26,932 28,349 (5.00)
 TOTAL 1,234,954 1,327,984 (7.01)
 Comparative Income Statements
 (In millions of pesetas, after allocation of profits)
 DECEMBER 92 DECEMBER 91 VAR PCT.
 Average total assets 1,162,876 1,254,990 (7.34)
 Financial revenues 146,546 154,327 (5.04)
 Financial costs 104,807 107,539 (2.54)
 Gross margin 41,739 46,788 (10.79)
 Commissions 15,923 8,705 82.92
 Operating margin 57,662 55,493 3.91
 Operating costs 22,289 21,244 4.92
 Personnel expenses 13,617 12,128 12.28
 General expenses 8,387 8,899 (5.75)
 Other taxes 285 217 31.34
 Operating profit 35,373 34,249 3.28
 Disposal of sec. & assets 707 3,819 (81.49)
 Extraordinary income 1,010 (258) 491.47
 Cash flow 37,090 37,810 (1.90)
 Provisions 7,499 5,328 40.75
 Depreciation 3,624 3,296 9.95
 Profit before taxes 25,967 29,186 (11.03)
 Tax provision 7,392 10,368 (28.70)
 Net profit 18,575 18,818 (1.29)
 Minority interest 142 --
 The above figures reflect the new accounting rules applied in compliance with the Bank of Spain's Circular April 1991.
 -0- 1/21/93
 /CONTACT: Jaime Echegoyen, 011-341-339-7600, or Jerome Wattel of Wattel/Della Corte & Arkin, 212-599-2369, both for BANKINTER/
 (BKISY)


CO: Bankinter, S.A. ST: IN: FIN SU: ERN

CK -- NY049 -- 7419 01/21/93 12:36 EST
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Date:Jan 21, 1993
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