Bankinter’s Irish business increased its profit by 21pc in the first nine months of the year as lending through its Avant Money operation continued to grow.
The Spanish banking group, which operates Avant Money in Ireland reported a pre-tax profit of €41m from its Irish business in the nine months to the end of September.
The amount of business it has with Irish customers rose by 26pc compared with the same period last year to €5.6bn. This includes lending as well as money customers have deposited with the bank.
Most of the €5.6bn came from lending, which increased by 23.4pc year-on-year, while deposits and other customer funds still accounted for a much smaller share of the Irish business.
Bankinter said its Irish operation remains at an early stage but expects activity to pick up over the coming quarters as it rolls out more products and services.
Income generated by the Irish business rose by 19pc during the period.
Bankinter has been building out its presence in Ireland through Avant Money, which offers mortgages, personal loans and credit cards.
It has also moved into the savings market, offering deposit products to Irish customers.
“This quarter has seen us continue to build on our solid financial performance that we delivered in the first two quarters, underpinned by sustained growth in mortgages and consumer finance,” Niall Corbett, the country manager Bankinter Ireland.
“The response from the public to our range of deposit products has been encouraging and we look forward to an expanded offering of products and services in Ireland in the coming quarters.”
The Irish growth came as Bankinter reported an 11pc increase in profit across the wider group.
The Spanish lender recorded a net profit of €901m for the first nine months of the year, up from €812m during the same period in 2025. Profit before tax increased by 10.8pc to €1.27bn.
Bankinter’s overall loan book increased by 5.6pc to €87.1bn and customer funds and assets under management reached €163bn, an increase of 7.9pc.
Net interest income - the difference between the interest a bank earns on its assets and the interest it pays out on its liabilities - increased by 5.7pc to €1.76bn.
Total income across the group rose by 6.5pc to €2.4bn, while fees and commissions increased by 12.9pc to €651m.
Spain remains by far Bankinter’s largest market. Its Spanish loan book stood at €69bn at the end of September, while pre-tax profit increased by 10pc to €1.05bn.
Portugal, its second-largest market, reported a 13pc rise in pre-tax profit to €178m with its loan book increasing by 9pc to €12bn.