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BANKINTER REPORTS INCREASED FIRST QUARTER EARNINGS

 /FOLLOWING IS A REPEAT FROM EARLIER TODAY/
 MADRID, Spain, April 15 /PRNewswire/ -- Bankinter, S.A.


(OTC Bulletin Board: BKISY), today announced that net income for the first quarter of 1993 ended March 31 amounted to 6,008,000,000 pesetas, an increase of 3.2 percent over the same period last year. Cash flow amounted to 12,700,000,000 pesetas, an increase of 22.3 percent over the previous year.
 Earnings per share increased to 352 pesetas, up 14.3 percent over 1992's first quarter.
 Return on equity increased by 9.8 percent to 23.2 percent. Return on assets reached 2.0 percent, representing a 6.5 percent increase over the same period in 1992.
 Customers' deposits experienced a significant growth of 6.6 percent over a year ago. Moreover, off-balance sheet funds reached 494,800,000,000 pesetas including mutual funds managed by the bank's wholly-owned subsidiary Gesbankinter, contributing significantly to the 27.8 percent increase in commission and fee income.
 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 are traded in the United States.
 NOTE: On March 31, 1993, US$1.00 was equal to Ptas 115.31.
 BANKINTER, S.A.
 Balance Sheet
 (In millions of pesetas)
 3/31/93 3/31/92 Pct. Variation
 ASSETS
 Cash and Bank of Spain 13,472 14,199 (5.12)
 Treasury debt 446,705 453,440 (1.49)
 Due from banks 172,225 87,480 96.87
 Credit and loans (net) 477,737 531,637 (10.14)
 Non-performing loans 26,038 14,633 77.94
 Other fixed-income securities 5,761 1,723 234.36
 Own shares held 2,567 24 --
 Equities 5,939 5,142 15.50
 Premises and equipment 23,224 20,522 13.17
 Other assets 22,380 21,321 4.97
 Accruals 17,997 21,207 (15.14)
 Total 1,214,045 1,171,328 3.65
 LIABILITIES
 Due to banks 271,386 272,766 (0.51)
 Customers' deposits 708,060 664,003 6.64
 Bonds and notes 10,797 14,467 (25.37)
 Other payments obligations 51,276 49,942 2.67
 Accruals 40,552 37,073 9.38
 Other liabilities 31,022 24,468 26.79
 Minority interest 593 -- --
 Reserves 74,774 80,260 (6.84)
 Paid-in capital 25,585 28,349 (9.75)
 Total 1,214,045 1,171,328 3.65
 Comparative Income Statements
 (In millions of pesetas)
 March '93 March '92 Pct. Variation
 Average total assets 1,211,030 1,239,210 (2.27)
 Financial revenues 41,734 38,201 9.25
 Financial costs 31,777 27,467 15.69
 Gross margin 9,957 10,734 (7.24)
 Commissions 4,514 3,533 27.77
 Operating margin 14,471 14,267 1.43
 Operating costs 5,062 4,820 5.02
 Personnel expenses 3,242 3,252 (0.31)
 General expenses 1,807 1,551 16.51
 Other taxes 13 17 (23.53)
 Operating profit 9,409 9,447 (0.40)
 Disposal of sec. and assets 2,790 707 294.63
 Extraordinary income 501 232 (115.95)
 Cash flow 12,700 10,386 22.28
 Provisions 3,297 1,060 211.04
 Depreciation 746 857 (12.95)
 Profit before taxes 8,657 8,469 2.22
 Tax provision 2,649 2,647 0.08
 Net profit 6,008 5,822 3.19
 Minority interest 11 -- --
 NOTE: On March 31, 1993, US$1.00 was equal to Ptas 115.31.
 -0- 4/15/93
 /CONTACT: Jaime Echegoyen of Bankinter, in Madrid, 011-341-339-7600; or Jerome Wattel of Wattel/Dell Corte & Arkin, in New York, 212-599-2369, for Bankinter/
 (BKISY)


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

GK -- NY090 -- 6340 04/15/93 14:45 EDT
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Date:Apr 15, 1993
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