Bankinter strengthens its digital proposal with the integration of EVO Banco within its own structure

Bankinter strengthens its digital proposal with the integration of EVO Banco within its own structure
Bankinter strengthens its digital proposal with the integration of EVO Banco within its own structure

The Board of Directors of Bankinter has made the decision to integrate EVO Banco into the Bankinter structure, with the purpose of making the most of the synergies between both entities and thus enhancing the digital transformation of the Group.

In this way, Bankinter launches a process that plans to culminate, once the pertinent regulatory authorizations have been obtained, around the first half of 2025 with the full integration of EVO Banco’s clients, business and employees under its structure.

With the integration of the subsidiary, EVO clients will continue to operate in a 100% digital way, but they will also benefit from all the capabilities of the Bankinter Group, its wide range of financial products and services and a maximum omnichannel service. quality. For their part, Bankinter customers will have access to new functionalities and any digital innovations that are developed in the future. With this integration, Bankinter enhances its digital value proposition, which becomes a fundamental part of its distribution model.

For their part, EVO Banco employees will join the Bankinter Group, where they will continue to develop innovative digital products and services that enhance Bankinter’s digital leadership in all its business lines and in all the geographies in which it operates: Spain, Portugal Ireland and Luxembourg.

This initiative is part of the growth plan that has recently been launched the new CEO, Gloria Ortizand whose main objective is to continue improving the profitability and efficiency of the Group, and maximizing the value delivered to shareholders.

Acquisition in 2019, together with the Irish financial company Avant Money

Bankinter acquired EVO Banco in 2019 with the aim of turning it into the Group’s digital laboratory, from which to launch new products and services with a more disruptive concept and anticipating what the banking of the future will be like. Five years after the acquisition, the objectives have been completely met.

At the time of its acquisition, which was carried out jointly with the Irish financial company Avant Money, Bankinter announced that the purchase was key because it represented a notable boost to its digital strategy. In that sense, the entity declared that it was a well-known brand in the market that would allow expand the bank’s customer base and explore new aspects of the financial businesscomplementary to those of Bankinter, from an innovative approach, entirely digital and designed to manage large volumes at lower costs.

Five years after the acquisition, EVO Banco has reached the break even of its activity and demonstrated its ability to create a profitable digital business value proposition. Therefore, he now considers that the time has come for EVO to be promoted as an engine of innovation and become an integral part of the bank’s value proposition for all its digital clients under the same structure.

Bankinter expects to complete the integration in the first half of 2025, and will promptly inform its clients about the details of the process.

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