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BANKINTER REPORTS INCREASE IN NINE MONTH NET INCOME EARNINGS-PER-SHARE UP OVER 18 PERCENT

 MADRID, Oct. 18 /PRNewswire/ -- BANKINTER, S.A. (NASDAQ-OTC Bulletin Board: BKISY) announced today that net income for the first nine months of 1993 ended Sept. 30, amounted to pesetas 14.52 billion(A), an increase of 2.04 percent over the same period last year. The bank's earnings continued to benefit from the continuing decrease in interest rates in Spain. Earnings-per-share rose to pesetas 894, an 18.73 percent increase over earnings-per-share for the first nine months of 1992.
 The bank continued to follow the same provisioning policy as it followed during the first half of 1993. All capital and trading gains on the bank's Spanish treasury bond portfolio, which amounted to over pesetas 10 billion, were allocated to provisions for hedging against future interest rate changes. As a result, Bankinter's cash flow amounted to pesetas 39.5 billion, an increase of 38.4 percent over the same period of the previous year.
 Return-on-equity rose 19 percent, compared to 17.1 percent during the first nine months of 1992. Return-on- assets declined to 1.5 percent from 1.66 percent during the same period of last year, due to a 12.9 percent increase in average total assets.
 During the first nine months, customers' deposits maintained their significant growth, increasing 11.9 percent over the total reported at Sept. 30, 1992. Also, off-balance sheet funds from customers increased by 24.2 percent to over pesetas 579 billion. The flow of customer funds into the bank's mutual funds, which increased by over 29 percent compared to the same period of the previous year, was the main contributor to off-balance sheet funds. Total funds from customers reached pesetas 1.1 trillion, a 14.24 percent increase over the same period last year. This added significantly to the 7.14 percent increase in the bank's operating profit.
 During the nine month period, BANKINTER maintained a competitive cost-to-income ratio of 36.68 percent.
 BANKINTER is the eighth largest, publicly owned bank in Spain and is one of the most profitable. The Bank's sponsored American Depositary Receipts (ADRs) are traded in the United States.
 NOTE: (A) On Sept. 30, 1993, US$ 1.00 was equal to pesetas 131.22
 BANKINTER GROUP
 Comparative Income Statements (In millions of Pesetas)
 Periods ended September 1993 1992
 Amount Amount
 Average total assets 1,294,785 1,146,871
 Financial revenues 133,377 105,523
 Financial costs 98,358 74,262
 Financial margin 35,019 31,261
 Other ordinary revenues 10,730 11,439
 Operating margin 45,749 42,700
 Operating costs 16,781 15,163
 Personal expenses 10,348 9,856
 General expenses 6,374 5,247
 Taxes other
 than income tax 59 60
 Operating income 28,968 27,537
 Gain on sale of securities
 & real estate 9,861 (122)
 Extraordinary income 712 1,154
 Cash-Flow 39,541 28,569
 Writedowns, provisions
 and depreciation 18,082 7,539
 Provision for loan losses 7,587 3,514
 Other provisions 8,726 1,542
 Recovery of assets
 previously written off (337) (180)
 Depreciation 2,106 2,663
 Income before taxes 21,459 21,030
 Income tax provision 6,942 6,803
 Net Income 14,517 14,227
 NOTE: (B)As a percentage of Average Total Assets.
 FINANCIAL HIGHLIGHTS (In millions of Pesetas)
 9/30/93 9/30/92 Var
 Shareholders equity 98,927 106,559 (7,632) (7.16)
 Total assets 1,460,361 1,180,197 280,164 23.74
 Credits & loan (gross) 507,923 569,586 (61,663) (10.83)
 Customers' deposits (B) 700,402 626,104 74,298 11.87
 Off-balance sheet
 funds (B) 579,757 466,901 112,856 24.17
 Cash-flow 39,541 28,569 10,972 38.41
 Net income 14,517 14,227 290 2.04
 Efficiency ratio (C) 36.68 pct. 35.51 pct. 1.17 3.29
 Return on shareholders
 equity (ROE) 19.04 pct. 17.13 pct. 1.91 11.18
 Return on average
 total assets (ROA) 1.50 pct. 1.66 pct.(0.16) (9.54)
 Number of branches 266 283 (17) (6.01)
 Number of employees 2,085 2,230 (145) (6.50)
 NOTES: (B) These items cannot be aggregated.
 (C) Operating Costs / Operating Margin x 100(Cost-to-Income
 ratio).
 Balance Sheet (In millions of Pesetas)
 Assets 9/30/93 9/30/92
 Cash and Bank of Spain 12,747 26,742
 Treasury debt 704,992 433,465
 Due from banks 165,417 (96,896)
 Credits & loans (net) 461,820 (76,425)
 Non-performing assets 26,979 6,679
 Fixed income securities 11,424 8,479
 Own shares held 463 (4,600)
 Equities 5,303 2,291
 Premises & equipment 23,543 2,575
 Other assets 22,043 8,528
 Accruals 25,630 10,063
 1,460,361 280,164
 Liabilities
 Due to bank 511,394 179,814
 Customers' deposits 689,439 76,325
 Bonds & notes 10,963 (2,027)
 Other payment obligations 27,370 (9,340)
 Accruals 72,025 39,714
 Other liabilities 49,780 7,910
 Paid-in capital 24,360 (3,989)
 Reserves 75,030 (8,243)
 1,460,361 280,164
 Off-Balance Sheet Managed Funds (In millions of Pesetas)
 9/30/93 9/30/92
 Mutual funds 484,050 111,099
 Pension funds 10,297 2,902
 Commercial paper &
 other corporate debt 23,262 (2,786)
 Treasury bonds &
 debentures to maturity 45,543 5,632
 Treasury bills to maturity 4,872 (1,502)
 Asset management 11,733 (2,489)
 579,757 112,856
 Non-Performing Loans (In millions of Pesetas)
 9/30/93 9/30/92
 Non-performing by
 default in payments 9,673 7,404
 Non-performing by credit risk 17,306 12,896
 Total non-performing 26,979 20,300
 Loan-loss (specific) provision 8,446 5,732
 Loan-loss (generic) provision 5,020 5,527
 Compulsory loan-loss provision 13,466 11,259
 Actual loan-loss provision 19,907 11,787
 provisions to non-performing (pct.) 73.79 58.06
 Non-performing to total
 Credits & Loans (pct.) 4.60 3.15
 Flows In Non-Performing Loans (In millions of Pesetas)
 1993 1992
 Opening balance (12/31) 25,012 13,961
 Additions 14,609 22,250
 Recoveries (8,976) (13,866)
 Write-offs (3,666) (2,045)
 Closing Balance (6/30) 26,979 20,300
 Shareholders' Equity (In millions of Pesetas) (A)
 9/30/93 9/30/92
 Tier 1
 Core Capital
 Paid-in capital and reserves 99,390 111,622
 Dividends payable (463) (5,063)
 98,927 106,559
 Tier 2
 Supplementary capital
 Generic provisions 27,964 21,906
 Generic loan-loss provisions 11,461 6,523
 Other (7) (3)
 39,418 28,426
 Total capital 138,345 134,985
 NOTE: (A) Without considering current year' profit
 -0- 10/18/93
 /CONTACT: Alfonso Alfaro, 011-341-339-7561, or Jerome Wattel, 212-599-2369, both for BANKINTER, S.A./
 (BKISY)


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

TM -- NY085 -- 3596 10/18/93 17:07 EDT
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