RBC Tweaks Bankinter Estimates Amid Planned Tulp Hypotheken Acquisition
RBC Capital Markets adjusted its financial estimates for Bankinter (BKT.MC) amid a model update ahead of the Spanish bank's July 23 second-quarter results and following plans to acquire Dutch mortgage platform Tulp Hypotheken. "We make small changes to our estimates, leaving our FY27 profit before tax estimate broadly unchanged. Following the recently announced acquisition of Tulp Hypotheken in The Netherlands, and as we await for further details on Tulp's future expected contribution to BKT's earnings, we now include a c.15bps [common equity tier] 1 impact upon the deal's expected closing date (during Q4'26)," analysts wrote in a Thursday note. For full-year 2026, the research firm lowered its profit before tax and adjusted EPS projections for the group by 1% to 1.69 billion and 1.29 euros, respectively. Bankinter is also expected to see a 6.6% annual growth in total revenue on the back of a 6.1% increase in net interest income. The stock's outperform rating and 15.50 euro price target were left unchanged.
RBC Capital Markets adjusted its financial estimates for Bankinter (BKT.MC) amid a model update ahead of the Spanish bank's July 23 second-quarter results and following plans to acquire Dutch mortgage platform Tulp Hypotheken. "We make small changes to our estimates, leaving our FY27 profit before tax estimate broadly unchanged.
Following the recently announced acquisition of Tulp Hypotheken in The Netherlands, and as we await for further details on Tulp's future expected contribution to BKT's earnings, we now include a c.15bps [common equity tier] 1 impact upon the deal's expected closing date (during Q4'26)," analysts wrote in a Thursday note.
For full-year 2026, the research firm lowered its profit before tax and adjusted EPS projections for the group by 1% to 1.69 billion and 1.29 euros, respectively.
Bankinter is also expected to see a 6.6% annual growth in total revenue on the back of a 6.1% increase in net interest income.
The stock's outperform rating and 15.50 euro price target were left unchanged.