Spanish banking group Bankinter has definitively ruled out bidding for PTSB as its Avant Money unit in Ireland reported on Thursday that its loan book reached €5 billion for the first time.
The Irish company’s loans grew by 23 per cent in 2025, driven by a 27 per cent expansion in its mortgage portfolio to €4 billion, Bankinter said in an investor presentation as it reported its latest annual figures. Its consumer portfolio grew 23 per cent to €1 billion, year-on-year.
The Irish business, which is run as a branch of Bankinter, saw its net interest income rise 16 per cent to €116 million and its pretax profit advance 13 per cent to €46 million.
Bankinter executives said on an analysts call that the group was not looking at PTSB or any acquisitions in the Republic. The group had previously poured cold water in October on speculation that it could make a play for PTSB.
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“We are not interested in acquiring any operations in Ireland,” said group chief executive Gloria Ortiz.
Avant Money, led by chief executive Niall Corbett, commenced a “soft launch” of a deposit offering to the market late last year, though the formal roll-out of its savings products has drifted into this year.
In December, Avant started offering deposit accounts to new customers that had been on a waiting list since mid-October, when it commenced an offering to a group of existing customers.
These customers are currently being offered a six-month or one-year fixed-term product, priced to carry an annual rate of 2.6 per cent and 2.3 per cent, respectively.
A spokesman for the lender said on Thursday that the official launch would take place next month.
“This was a positive update for the Irish branch of the Spanish bank,” said Goodbody analyst Denis McGoldrick. “The comments in relation to the bank ruling itself out of acquiring PTSB are not altogether surprising, but nevertheless, are the most explicit yet.”
The wider Bankinter group’s net profit rose 14 per cent last year to €1.09 billion, driven by fees and commissions as net interest income declined amid falling official European Central Bank rates.
