DBRS confirms Bankinter

DBRS said it confirmed the ratings of Bankinter, SA, including the long-term issuer rating of A (low) and the short-term issuer rating of R-1 (low).

The trend is stable.

The bank’s intrinsic assessment is confirmed at A (low) and the support assessment remains at SA3.

The agency said the confirmation reflects the bank’s solid core profitability, its sound generation of capital through retained earnings and the bank’s sound and better than most domestic peers’ asset quality.

The ratings also take into account Bankinter’s improved funding position, supported by a consistent growth of customer deposits, which has enabled the bank to rebalance its funding mix and it is now more aligned with similarly rated peers, DBRS said.

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