It is the fifth most bullish value of the Ibex 35 that we have been in this year, with rises above 46%. Also, yesterday the agency DBRS Morningstar kept his rating at ‘A (low)’, but improved the outlook to ‘stable’ from ‘negative‘. And despite everything, this Wednesday, Bankinter sneaks among the most bearish values of the Ibex 35, with falls above 1% that have led it to touch the 4.85 euros intraday, a figure that it is approaching its first key support, 4,569 euros.
In the change of the entity’s perspective by DBRS Morningstar, it explains that it is due to the lower impact that the Covid-19 crisis has had on Bankinter compared to previous estimates. In this sense, it indicates that the deterioration in the quality of the assets “has been contained”, although it recognizes that certain risks still persist in this regard once the support measures promoted by the Government to face the crisis are eliminated. caused by the pandemic.
However, the rating agency foresees that Bankinter “can manage any deterioration during 2022”. In addition, it points out that The entity’s capital and profitability levels “have remained resilient.”
Likewise, the agency points out that Bankinter’s income diversification and the increase in its international businesses will partially offset the impact of the spin-off of Línea Directa, although it estimates that there will be greater volatility in the new sources of income compared to those that came from the insurer. On the other hand, he explains that maintaining the rating at ‘A (low)’ reflects the bank’s “solid underlying profitability”, even after the listing of Línea Directa.
DBRS Morningstar highlights the sustained growth of deposits and the improvement in liquidity, while positively assessing the “satisfactory cushion” on the minimum capital requirements and the “solid” results obtained by Bankinter in the stress tests of the European Banking Authority.