Bankinter Spain forecast shows reduced profits after launching Linea Direct on Ibex

Image of a hepatitis cell. Credit: Creative Commons

HAVING decided to hive off its Linea Directa insurance business by launching it on the stock market, Bankinter expects to see a short term reduction on record breaking annual profits.

It will need to rely on its pure banking business as the income from the insurance firm disappears but CEO of the bank María Dolores Dancausa is confident that whilst 2020 may not be the best year ever, things will return to growth by 2021.

Apart from Spain, she sees additional potential in Ireland and Portugal.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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