Annual. Annual Report. Report

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1 Annual Annual Report Report

2 2009 Annual Report

3 Bankinter Annual Report 2009 Chairman's Letter 2 LetterChairman's Letter Pedro Guerrero Chairman of the Board of Directors I should like to begin my comments by reflecting on the difficult economic situation our business has faced over the past year. The sharp slowdown experienced by the global economy since the summer of 2008 culminated in 2009 with the worst recession since the second world war, causing, among other things, a global lack of confidence which led to moments of critical liquidity. The serious difficulties faced by the global financial system and the sharp decline in business throughout the world led central banks to make drastic cuts in interest rates. Likewise, in various countries monetary authorities and governments applied additional measures to inject liquidity to mitigate the deterioration in the interbank markets and credit markets in general, thanks to which they stabilised somewhat in the course of As far as Spain is concerned, the crisis was reflected in a drop in GDP of around 3.6%, the worst in more than 50 years, and a very big increase in unemployment, the consequence above all of our high dependence on the property sector, one of the sectors worst hit by the crisis. Despite this difficult environment, 2009 was a historic year for Bankinter results if we compare ourselves with the competition; this past year we profited from the differentiation of our business model and lower risk profile, posting a net profit of EUR million, with growth of 0.8%. Modest growth, to be sure, but absolutely exceptional in a financial year in which listed domestic banks posted an average fall in net profit of 24%. These results are even more impressive if we take into account the fact that they are based entirely on recurring earnings, meaning we have managed to keep intact the unrealised capital gains inherent in our balance sheet which form part of the Bank's intangible assets, contrasting with the generation of extraordinary income which, in the system a whole, was needed to offset high costs of arrears and writedowns.

4 Bankinter Annual Report Chairman's Letter All the information on our income statement is described in full in this Report, so I shall not go into detail, although I would like to highlight a few figures that reflect just how different Bankinter is. The Bank has a risk profile that is much lower than that of the rest of the sector, as shown by its 2.46% non performing loans ratio (half the average), an insignificant level of exposure to the property development sector, of just 2.5% of total loan investments, approximately one seventh of the 17.6% average in the system, and consequently a level of foreclosed property assets of just EUR 326 million, also extremely low in comparative terms. It is also worth highlighting the fact that in the residential mortgage business, the Bank's non performing loan ratio is 1.27%, approximately one third of the average, which clearly shows the quality of Bankinter's mortgage portfolio. Likewise, the non performing loans coverage ratio is 74% (one of the highest in the system), while allowances made for the possible impairment of foreclosed property assets already totals 20% of their book value, meaning a cover of 46% vis-à-vis its appraised value. The lower rate of non performing loans, the limited exposure to the property development sector and the strength of our allowances make Bankinter more resistant to the cycle, something which, alongside the lower losses expected from the loan portfolio, bear witness to our adequate solvency levels, with a capital ratio of 10.41% and surplus capital of EUR 757 million. I should now like to take a moment to express my heartfelt thanks to all of your for the extraordinary support which you gave during this past year to the Bank's capital increase, which was carried out with great success, being fully subscribed during the preferential subscription period without needing to be underwritten. The EUR 361 million capital increase served to finance the acquisition of the 50% of Línea Directa Aseguradora that was held by the Royal Bank of Scotland, giving us full ownership of a company which, with 1,600,000 policies, more than 1,200,000 customers and pre-tax profits of close to EUR 100 million a year, offers Bankinter significant possibilities for marketing synergies and a great opportunity for business growth.

5 Bankinter Annual Report Chairman's Letter In relation to this operation, I should like to make some remarks on the solvency of the Bank. Capital consumption involved in the acquisition of Línea Directa Aseguradora, calculated in accordance with Bank of Spain rules, is close to 100% of the net amount disbursed for the purchase, which is why, despite the capital increase, capital ratios remain stable. However, this capital is invested in an extremely profitable and solvent asset which improves the group's risk diversification, as well as its growth expectations. Apart from purely financial and typical business variables, Bankinter has a number of other competitive advantages which, despite not appearing expressly in the financial statements, make Bankinter a company which is admired and respected in the European financial sector. These include our advanced corporate governance policy, an area in which we continue to apply the most demanding standards, making us one of the most prestigious of listed companies. Corporate Responsibility, Bankinter's way of thinking and acting, our relationships with our stakeholders and, in short, the management of our intangibles - these are the key factors that set us apart as a company. Our most valuable assets are our staff. Our workforce is young, with an average age of 37, well educated (73.8% are graduates), enthusiastic and motivated to do new things, with initiative, talent, pride and a sense of belonging. In short, our workforce is happy to be working for a company like Bankinter, which was again selected as one of the best places to work by the Great Place to Work Institute, and was the only financial institution and the only Ibex35 company to be included in this list. In terms of our relationship with our customers, we strive constantly to provide a quality service, something which is part of our DNA as a service company. I should point out that Bankinter continues to exhibit service quality ratios way above our competitors, especially among individuals, where we are 4.8 above the market average in the NSI (Net Satisfaction Index). I also take this opportunity to mention some of the prizes awarded to the Bank in areas relating to our support for the most disadvantaged sectors of society, for society in general and also for the environment. Not for nothing are we considered, according to the GS Sustain index, as the best Bank in terms of responsible environmental management. This year we were awarded the Tecnet 2009 prize for Corporate Social Responsibility for the project creating IT classrooms in retirement homes managed by Sanitas Residencial; and one of the National Prizes awarded by

6 Bankinter Annual Report Chairman's Letter the Federación Nacional de Parapléjicos y Grandes Discapacitados Físicos (ASPAYM), for "universal accessibility and design for all", for our projects in favour of the integration of the disabled, including full access to the Bank's website and network of branches. In terms of our relationship with society, the business world, universities and entrepreneurs, we have always acted in accordance with our values, supporting innovation and talent as a driver for change and progress. Accordingly the Bankinter Foundation for Innovation continues to be one of the best examples of the Bank's aspirations. This is a different type of Foundation - open, multidiscipline and participative, which seeks to encourage innovation in our entrepreneurial and educational environment, as the only advantage sustainable over time, and as a model of behaviour in which we can all see ourselves reflected. That's all. I would just like to say that the new financial year, which will be challenging, will also be full of opportunities for the Bank, as it ushers in a new era in which honesty, responsibility, prudence, best practice, quality of service, and the ability to innovate will be the definitive benchmark values in the financial world. And it is precisely in these areas that Bankinter is strongest. You may rest assured that, in such an environment, we shall succeed in generating value for all of you, and that as Chairman I will put all my efforts and enthusiasm into achieving this. Many thanks

7 Bankinter 2009 Annual Report 6 Consolidated balance sheets as at 31 December 2009 and 2008 ASSETS (*) LIABILITIES AND EQUITY (*) CASH AND BALANCES WITH CENTRAL BANKS 505, ,134 LIABILITIES TRADING PORTFOLIO 3,584,841 2,228,130 TRADING PORTFOLIO 1,491, ,327 Deposits with credit institutions - - Central banks' deposits - - Loans to customers - - Credit institutions' deposits - - Debt securities 2,852,908 1,516,905 Customer deposits - - Equity instruments 110,335 43,556 Debts represented by negotiable securities - - Trading derivatives 621, ,669 Trading derivatives 611, ,520 Memorandum items Lent or pledged 1,969,940 1,036,226 Short security positions 879, ,807 Other financial liabilities - OTHER FINANCIAL ASSETS AT FAIR VALUE WITH CHANGES TAKEN INTO PROFIT & LOSS 16,361 9,186 Deposits with credit institutions - - OTHER FINANCIAL ASSETS AT FAIR VALUE WITH CHANGES TAKEN INTO PROFIT & LOSS 278, ,053 Loans to customers - - Central banks' deposits - - Debt securities - - Credit institutions' deposits - - Equity instruments 16,361 9,186 Customer deposits 278, ,053 Memorandum items Lent or pledged - - Debts represented by negotiable securities - - Subordinated liabilities - - FINANCIAL ASSETS AVAILABLE FOR SALE 3,345,065 5,601,227 Other financial liabilities - - Debt securities 3,254,182 5,541,170 Equity instruments 90,883 60,057 FINANCIAL LIABILITIES AT AMORTISED COST 48,985,541 49,584,542 Memorandum items Lent or pledged 1,483,368 3,858,674 Central banks' deposits 2,208,200 5,435,283 Credit institutions' deposits 5,374,913 5,820,452 LENDING 43,669,718 44,093,832 Customer deposits 21,782,602 22,914,328 Deposits with credit institutions 3,786,135 3,197,265 Debts represented by negotiable securities 17,971,994 13,833,521 Loans to customers 39,883,583 40,896,567 Subordinated liabilities 1,117, ,220 Debt securities - - Other financial liabilities 530, ,738 Memorandum items Lent or pledged 626, ,059 ADJUSTMENTS TO FINANCIAL LIABILITIES FOR MACRO-HEDGING - - INVESTMENT PORTFOLIO HELD TO MATURITY 1,621,669 - HEDGE DERIVATIVES 65, ,158 Memorandum items Lent or pledged 689,056 - LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS FOR SALE - - ADJUSTMENTS TO FINANCIAL ASSETS FOR MACRO-HEDGING 9,754 64,147 INSURANCE LIABILITIES 625,620 - HEDGE DERIVATIVES 189, ,210 PROVISIONS 75, ,554 NON-CURRENT ASSETS FOR SALE 238,017 50,468 Pension funds and similar obligations Provisions for taxes and other legal contingencies - - ASSOCIATES 34, ,161 Provisions for contingent risks and commitments 29,742 34,048 Associates 33,303 23,104 Other provisions 46, ,467 Multigroup enterprises 1, ,057 TAX LIABILITIES 228, ,057 INSURANCE AGREEMENTS LINKED TO PENSIONS - - Current 65,075 34,343 Deferred 163,710 68,714 RE-INSURANCE ASSETS 13,495 - OTHER LIABILITIES 133, ,932 TANGIBLE ASSETS 475, ,325 Property, plant, and equipment 452, ,826 For own use 440, ,103 Leased out on operating lease 12,508 14,723 Real-estate investments 22,991 3,499 Memorandum items acquired under finance lease - - TOTAL LIABILITIES 51,884,573 51,504,623 INTANGIBLE ASSETS 377,043 13,851 NET WORTH Goodwill 161,837 - Other intangible assets 215,207 13,851 EQUITY 2,553,003 1,963,372 Capital 142, ,768 TAX ASSETS 246, ,461 Registered 142, ,768 Current 106,275 24,636 Less: uncalled capital - - Deferred 139, ,825 Share premium 737, ,932 Reserves 1,524,484 1,326,197 OTHER ASSETS 139,880 71,495 Retained earnings (accumulated losses) 1,504,864 1,214,112 Inventories - Retained earnings (accumulated losses) of entities accounted for under the equity method 19, ,085 Other 139,880 71,495 Other equity instruments - - Compound financial instruments - - Cuotas participativas (non-voting shares in Spanish savings banks) and associated funds - - Other equity instruments - - Less: own securities (538) (44,016) Results for the year attributable to the controlling entity 254, ,289 Less: dividends and remunerations (104,464) (88,798) VALUATION ADJUSTMENTS 29,888 1,632 FINANCIAL ASSETS HELD FOR TRADING 29,774 1,524 Cash flow hedging - - Hedging of net investments in foreign businesses - - Exchange differences NON-CURRENT ASSETS FOR SALE - - Entities valued under the equity method - - Other valuation adjustments - - MINORITY INTERESTS - - VALUATION ADJUSTMENTS - - Other - - TOTAL ASSETS 54,467,464 53,469,627 LIABILITIES AND SHAREHOLDERS' EQUITY 54,467,464 53,469,627 MEMORANDUM ITEMS CONTINGENT RISKS 2,263,430 2,489,821 CONTINGENT COMMITMENTS 9,209,725 8,147,578 (*) Shown solely for purposes of comparison

8 Bankinter 2009 Annual Report 7 Consolidated Income Statement (Debit) Credit (*) INTEREST 1,672,477 2,595,295 INTEREST EXPENSE AND SIMILAR CHARGES (879,898) (1,921,928) INTEREST MARGIN 792, ,367 RETURN ON EQUITY INSTRUMENTS 10,934 7,643 SHARE IN RESULTS OF ENTITIES ACCOUNTED FOR UNDER THE EQUITY METHOD 16,234 45,945 FEE & COMMISSION INCOME 270, ,937 FEE &COMMISSION EXPENSE (68,493) (76,877) RESULTS OF FINANCIAL OPERATIONS (net) 63,513 36,029 TRADING PORTFOLIO 68,020 41,827 OTHER FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT & LOSS 958 (15,291) OTHER FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT & LOSS (2,852) 4,232 Other (2,613) 5,261 FOREIGN EXCHANGE DIFFERENCES (net) 25,275 66,700 OTHER OPERATING INCOME 470,458 29,461 Income from insurance and reinsurance policies issued 445,334 - Income from sales and provision of non-financial services - - Other operating income 25,124 29,461 OTHER OPERATING EXPENSES (336,044) (31,707) Expenses relating to insurance and reinsurance policies (300,359) - Change in inventory levels - - Other operating expense (35,686) (31,707) GROSS INCOME 1,245,182 1,053,498 ADMINISTRATIVE EXPENSES (578,825) (497,829) Personnel expenses (325,040) (260,877) Other general administrative expenses (253,786) (236,952) DEPRECIATION AND AMORTISATION (53,463) (32,935) PROVISIONING EXPENSE (NET) (29,628) 6,251 IMPAIRMENT LOSSES ON FINANCIAL ASSETS (NET) (220,502) (192,512) Loans and receivables (218,705) (185,727) Other financial instruments not at fair value through profit or loss (1,797) (6,785) OPERATING INCOME 362, ,473 IMPAIRMENT LOSSES ON OTHER ASSETS (net) (10,562) (570) Goodwill and other intangible assets (10,561) - Other assets (1) (570) GAINS (LOSSES) ON DISPOSAL OF ASSETS NOT CLASSIFIED AS NON-CURRENT FOR SALE (5,270) 1,066 NEGATIVE DIFFERENCE ON BUSINESS COMBINATIONS - - GAINS (LOSSES) ON NON-CURRENT ASSETS FOR SALE NOT CLASSIFIED AS DISCONTINUED OPERATIONS (991) - PROFIT OR LOSS BEFORE TAX 345, ,969 INCOME TAX (91,536) (84,680) PROFIT (LOSS) FROM CONTINUING OPERATIONS 254, ,289 PROFIT (LOSS) FROM DISCONTINUED OPERATIONS (net) - - CONSOLIDATED EARNINGS FOR THE YEAR 254, ,289 Profit (loss) attributable to the controlling entity 254, ,289 Profit (loss) attributable to minority interests - (*) Shown solely for purposes of comparison

9 Bankinter 2009 Annual Report 8 Consolidated statement of changes in equity Consolidated statements of recognised income and expenses for the financial years ended 31 December 2009 and 2008 (EUR 000s) Financial year 2009 Financial year 2008 (*) CONSOLIDATED EARNINGS FOR THE YEAR 254, ,289 B) OTHER RECOGNISED INCOME AND EXPENSES 28,256 34,193 FINANCIAL ASSETS HELD FOR TRADING 40,360 48,907 Valuation gains (losses) 47,778 37,890 Amounts transferred to the profit and loss account (7,418) 11,017 Other reclassifications - - Cash flow hedging - - Valuation gains (losses) - - Amounts transferred to the profit and loss account - - Amounts transferred to the initial carrying amount of hedged items - - Other reclassifications - - Hedging of net investments in foreign businesses - - Valuation gains (losses) - - Amounts transferred to the profit and loss account - - Other reclassifications - Exchange differences 6 (266) Valuation gains (losses) 13 (267) Amounts transferred to the profit and loss account (7) 1 Other reclassifications - - NON-CURRENT ASSETS FOR SALE - - Valuation gains (losses) - - Amounts transferred to the profit and loss account - - Other reclassifications - - Actuarial gains (losses) in pension plans - - Entities valued under the equity method - - Valuation gains (losses) - - Amounts transferred to the profit and loss account - - Other reclassifications - - Other recognised income and expenses - INCOME TAX (12,110) (14,448) TOTAL RECOGNISED INCOME AND EXPENSES (A + B) 282, ,482 C 1) Attributable to the controlling entity 282, ,482 C 2) Attributable to minority interests - - (*) Shown solely for purposes of comparison

10 Bankinter 2009 Annual Report 9 Consolidated cash flow statements for the financial years ended 31 December 2009 and 2008 (EUR 000s) A) NET CASH FLOW FROM OPERATIONS 1,465,178 (307,697) 1. CONSOLIDATED EARNINGS FOR THE YEAR 254, , Adjustments for non-cash items 584, , Depreciation and amortisation 531,393 32, Other adjustments 53, , Net increase/decrease in operating assets 582,993 (4,418,055) 3.1 Trading portfolio (1,356,711) (558,265) OTHER FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (7,175) 17, Financial assets held for trading 1,995,893 (1,828,521) 3.4 Loans and advances 51,844 (1,940,628) 3.5 Other operating assets (100,858) (107,900) 4. Net increase/decrease in operating liabilities 116,507 3,694, Trading portfolio 684,799 (130,109) OTHER FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS (326,326) 605, Financial liabilities at amortised cost (872,953) 3,052, Other operating liabilities 630, , Income Tax (+/-) (73,582) (54,945) B) CASH FLOW FROM INVESTMENT ACTIVITIES (1,580,380) (69,635) 6. Payments (1,615,959) (150,025) 6.1 Tangible assets (143,430) (130,786) 6.2 Intangible assets (273,102) (19,201) 6.3 Equity holdings in associates (6,349) (38) 6.4 Subsidiaries and other business units Non-current assets and associated liabilities for sale Investment portfolio held to maturity (1,193,078) Other payments linked to investment activities Receipts 35,579 80, Tangible assets 26,122 69, Intangible assets 9,457 11, Equity holdings in associates Subsidiaries and other business units Non-current assets and associated liabilities for sale Investment portfolio held to maturity Other receipts linked to investment activities - - B) CASH FLOW FROM FINANCING ACTIVITIES 238,333 (187,020) 8. Payments (154,334) (221,920) 8.1 Dividends (130,442) (119,569) 8.2 Subordinated liabilities 0 (67,464) 8.3 Redemption of own equity instruments Acquisition of own equity instruments (5,596) (26,702) 8.5 Other payments linked to financing activities (18,296) (8,185) 9. Receipts 392,668 34, Subordinated liabilities Issuance of own equity instruments 361, Disposal of own equity instruments 31,252 34, Other receipts linked to financing activities - - D) EFFECT OF EXCHANGE-RATE VARIATIONS - - E) NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENTS (A+B+C+D) 123,131 (564,352) F) CASH AND CASH EQUIVALENTS AT START OF PERIOD 382, ,486 G) CASH AND CASH EQUIVALENTS AT END OF PERIOD 505, ,134 MEMORANDUM ITEMS: G) BREAKDOWN OF CASH AND CASH EQUIVALENTS AT END OF PERIOD 505, , Cash 97, , Cash equivalents with central banks 406, , Other financial assets Less: Bank overdrafts payable at sight - - Total cash and cash equivalents at end of period 505, ,134 of which: in possession of consolidated entities but not available to group (*) Shown solely for purposes of comparison

11 Bankinter Annual Report Consolidated statement of changes in equity (continued) Consolidated statement of changes in equity for the financial years ended 31 December 2009 and 2008 (Thousands of euros) EQUITY ATTRIBUTABLE TO THE CONTROLLING ENTITY Capital Issue premium RESERVES Accumulated reserves (losses) Equities EQUITY Less: Own securities Results for the financial year attributable to the controlling entity Less: dividends and remunerations VALU- ATION ADJUST- MENTS TOTAL NON-CON- TROLLING INTER- ESTS 1. Balance as at 31 December , ,932 1,326, , ,289-88,798 2,075,457 1,632 1,965,004-1,965, Adjustments for changes to accounting criteria Total net worth 1.2 Adjustments for errors - 2. Adjusted start balance 121, ,932 1,326, , ,289-88,798 2,075,457 1,632 1,965,004-1,965, Total recognised income and expenses 254, ,405 28, , Other changes in equity 20, , ,288-43, ,289-15, , , , Capital increases 20, ,150-6, , , , Capital reductions Conversion of financial liabilities into capital - TOTAL NET WORTH Increases in Equities Reclassification of financial liabilities to Equities 4.6. Reclassification of Equities to financial liabilities 4.7. Distribution of dividends/ remuneration of shareholders , , , , Operations with Capital instruments (net) ,822-43, ,656-30,656-30, Transfer between equity headings , , , Increases (reductions) from business mergers , ,667-83,667-83, Payments with Capital instruments Other increases (reductions) in net worth - - 1, ,487-1,487-1, Final Balance as at 31 de December de , ,082 1,524, , ,464 2,665,087 29,888 2,582,890-2,582,890

12 Bankinter Annual Report Consolidated statement of changes in equity Consolidated statement of changes in equity for the financial years ended 31 December 2009 and 2008 (Thousands of euros) Capital Issue premium Accumulated reserves (losses) EQUITY ATTRIBUTABLE TO THE CONTROLLING ENTITY (*) Equities EQUITY Less: Own securities Results for the financial year attributable to the controlling entity Less: dividends and remunerations Total net worth VALU- ATION ADJUST- MENTS TOTAL NON-CON- TROLLING INTER- ESTS TOTAL NET WORTH (*) 1. Final Balance as at 31 de December de , ,534 1,086,443 11,165-55, ,863-87,336 1,777,978-32,561 1,745,417-1,745, Adjustments for changes to accounting criteria Adjustments for errors Adjusted start balance 119, ,534 1,086,443 11,165-55, ,863-87,336 1,777,978-32,561 1,745,417-1,745, Total recognised income and expenses , ,289 34, , , Other changes in equity 2,705 53, ,754-11,165 11, ,863-1,462-66, , , Capital increases Capital reductions Conversion of financial liabilities into capital 2,705 53, , ,938-33,773-67, Increases in Equities Reclassification of financial liabilities to Equities 4.6. Reclassification of Equities to financial liabilities 4.7. Distribution of dividends/ remuneration of shareholders , , , , Operations with Capital instruments (net) ,450-11, ,288-18,576-39, Transfer between equity headings , , , , Increases (reductions) from business mergers Payments with Capital instruments Other increases (reductions) in net worth , , Balance as at 31 December , ,932 1,326, , ,289-88,798 1,963,372 1,632 1,965,004-1,965,004 (*) Shown solely for purposes of comparison

13 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality Quality 1Management Quality of service is one of the fundamental points on which Bankinter's success is based. For individuals, in 2009 the Bank achieved an overall satisfaction score of 74,45 points, 4,8 points above the market average. Alejandra Marrupe, Quality Consultant

14 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality In 2009, Bankinter customers showed high levels of satisfaction with the products and services received from the Bank. Bankinter's quality reflects the trust of our customers. Quality of service is one of the fundamental points on which Bankinter's success is based, and is reflected in the results of customer surveys. In 2009, Bankinter customers showed high levels of satisfaction with the products and services received from the Bank. This measurement is carried out on a monthly basis by independent companies, whose data give us an in depth knowledge of each segment, distribution network and service platform with which the customer may interact at any time, as well as of each office or centre with which customers deal. These measurements of customer perceptions are completed and contrasted with a large number of objective indicators, which enable the specific measurement of lead-times and the quantification of any incidents occurring during each process. Through internal surveys we check that, from both the branch network and central services, we are offering an exceptional service, with all internal systems and processes systematically conforming to quality models. Bankinter would particularly like to thank all its customers for the time and care they have spent in responding to our surveys, which means we can find out what their needs are and, as far as possible, anticipate them. A market analysis is also performed periodically, in the Private Individuals and SME segments, with the aim of ascertaining Bankinter's position in relation to its competitors and identifying the service factors that set us apart.

15 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality Overall satisfaction by segment 2009 (NSI out of 100) Personal Finance 76.7 Private individuals Private Banking 74.8 Foreign customers A different Bank with customers that demand better service. Bankinter measures customer satisfaction through monthly surveys, in each of the various segments to which it offers a differential service (Personal Finance, Private Banking, Individuals, Foreigners, SMEs and Corporate Banking), in the distribution networks through which customers operate (branch network, network of agents, virtual offices, telephone banking and online banking offices), as well as through the service platforms through which our customers interact with the Bank (telephone banking, broker, mobile, individual and corporate online banking platforms). This satisfaction is measured through the Net Satisfaction Index (NSI), in which scoring ranges from 0 to 100, interpreted as follows: > 85 Very satisfied, or excellent service High level of satisfaction Needs improvement. <60 Needs action. As can be seen in the graphs, both in segments and networks as well as in service platforms, quality ratios approach and on occasions exceed 75 NSI points. Any mark above 75 shows a high quality of service Overall cumulative satisfaction by segment at December 2009 (NSI out of 100) SMEs 71.9 Corporate Banking Personal Finance Private Banking Private individuals Foreign customers SMEs Corporate Banking

16 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality Overall cumulative satisfaction by networks at December 2009 (NSI out of 100) Branch network Telephone banking office Online banking office Virtual Offices Branch network Overall cumulative satisfaction by platform at December 2009 (NSI out of 100) Telephone Banking Bankinter Private individuals Bankinter Broker Bankinter Businesses Mobile phones

17 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in businesses > Quality in handling incidents > Quality and internal customers > Taking action to improve quality A different Bank that seeks to be the best for private individuals. Year after year, Bankinter has held a leadership position in the perception of quality by private individual customers. We carry out market research on a quarterly basis through an independent consultant, that allows us to discover the level of customer satisfaction (private individuals) with the perceived service of their Bank or savings Bank. Knowing Bankinter's relative position with respect to other financial institutions in the Spanish market, and knowing which are the most significant service factors, gives us the perception indicator for services that private customers receive from Bankinter, and their greater perceived satisfaction. The research conclusions are obtained by asking customers about eleven aspects of service that are important to them. The perception of the service offered by Bankinter is outstanding in all these aspects, especially training and professionalism of staff, advisory services, treatment of and attention shown to customers, transaction speed, clarity of information, response to incidents and meeting of agreed deadlines. Bankinter vs. Market. Private individuals NSI Private Individuals Market Bankinter GAP Geographic scope: Nationwide, for towns of over inhabitants. Universe: General population over 18 holding current or savings accounts with a financial institution. Sampling: interviews per quarter. Survey methodology: Computer-assisted telephone interview. Sampling error: ±2.5%. Source: Inmark December with respect to the market average

18 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality A different Bank that seeks to be the best for private individuals. Also, we conduct half-yearly market research through an independent consultant, that enables us to ascertain the degree of satisfaction of companies with the products and service they receive from their banks or savings banks. The customers of Bankinter's SME segment rate the Bank higher than the average for customers of other banks and savings banks, and in the past year Bankinter's lead was 2,2 NSI points. The research conclusions are obtained by asking customers about fifteen aspects of service that are important to them. Of particular note is our leadership in aspects concerning our account executives, who stand out significantly, specifically as regards advisory services and their training and professionalism. Bankinter's score is also well above the market in products and services and in operating procedures, and in terms of meeting deadlines and conditions. Bankinter vs. Market. Companies NSI companies Market Bankinter GAP Geographic scope: The whole of Spain (except Ceuta and Melilla). Universe: Spanish businesses with an approximate turnover of between EUR 0.5 million and EUR 5 million. Sampling: interviews every six months Survey methodology: Computer-assisted telephone interview. Sampling error: ±2.97%. Source: Inmark December with respect to the market average

19 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality A different Bank which takes resolute action in the event of an incident Resolution period of less than 48 hours 52.5% 51.77% in Bankinter's Customer Service Departmenthandles and resolves customer complaints and claims, ensuring that they are dealt with in a consistent and timely manner and that customers perceive that the Bank is acting in their interests. As well as resolving customers' problems, the Customer Service Department prevents and corrects any major mistakes made in any area of the Bank when selling a product or providing a service. In 2009 we experienced a slight increase in the number of complaints and Claims settled, which reached 11.4 per million transactions compared with 10,9 per million transactions in As for the time taken to deal with complaints and claims, 52,5% of the incidents were resolved in less than 48 hours in 2009, a slight improvement over the 51,8% of the previous year. Total number of Complaints and Claims No. of claims in Bank s favour 5,959 4,609 Total number of claims (financial) 10,034 14,947 Total 15,993 19,556 Financial claims Number of Claims settled in customer's favour 6,750 8,757 % of total Number of Claims settled in Bank's favour 3,284 6,190 % of total Total financial claims 10,034 14,947 Time taken to resolve financial incidents Times Total incidents % 0 days 7, to 2 days 3, to 6 days 2, to 10 days 1, > 10 days 5, ,

20 Bankinter Annual Report Quality Management > Bankinter Quality > Service that is different > Quality in private individuals: > Quality in SMEs > Quality in handling incidents > Quality and internal customers > Taking action to improve quality The External Customer Ombudsman, an independent bodyrepresented by José Luis Gómez Dégano, Incidents processed claims in 2009 from customers appealing decisions of the Customer Service Department. This is an increase of 48,5%, although those resolved in favour of the customer were down considerably, by 35,4%. Lastly, the Complaints Service of the Bank of Spain Incidents processed 515 claims in 2009 from customers who were not in agreement with the solution provided by either the External Customer Ombudsman or the Bankinter Customer Service Department. External Customer Ombudsman /08 (%) Incidents processed 708 1, Settled in the customer s favour Settled in the Bank s favour Excluded Bank of Spain /08 (%) Claims settled In the customer s favour Uncontested In the Bank s favour Pending settlement Outside Bank of Spain jurisdiction

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