BANKINTERKBW Mid-Cap European Bank Conference

London, 20th September 2005

BANKINTER cautions that this presentation contains forward looking statements. These forward looking statements are found in various places throughtout thispresentation and include, without limitation, statements concerning our futurebusiness development and economic performance. While these forward lookingstatements represent our judgment and future expectations concerning thedevelopment of our business, a number of risks, uncertainties and other importantfactors could cause actual developments and results to differ materially from ourexpectations. These factors include, but are not limited to (1) general market, macro-economic, governmental and regulatory trends, (2) movements in local andinternational securities markets, currency exchange rates, and interest rates, (3) competitive pressures, (4) technological developments, (5) changes in the financialposition or credit worthiness of our customers, obligors and counterparties. The riskfactors and other key factors that we have indicated could adversely affect ourbusiness and financial performance contained in our past and future filings andreports, including those with the Securities and Exchange Commission of the UnitedStates of America.BANKINTER introduces the quarterly financial statements adapted to the newaccounting rules according to Circular 4/04 of Bank of Spain.The figures presented hereafter come out from the interpretation and applicationcarried out by Bankinter of those accounting rules, notwithstanding subject to furtherreview and validation of 2004 figures and of so called “First stablishment reserve” by external auditors.

11

GrowthGrowth22

OverwiewOverwiew

33 Solvency & ValueSolvency & Value

44 SummarySummary

11 OverwiewOverwiew

A succesful story of growth

5th largest Bank

Independent

Organic growth

Flexible and opportunistic

Domestic and Retail driven

Technology oriented

Transforming market opportunities...

0

5,000

10,000

15,000

20,000

25,000

30,000

1969 1974 1979 1984 1989 1994 1999 2004

High yieldDeposit Launch

First to market in Mutual Funds

Challenging theMortgage Market

Leadinge-banking

SMEs

...into recurrent Balance Sheet growth

Controlled Customer Funds

94 95 96 97 98 99 00 01 02 03 04M05J0

5

Mutual Funds

Credit & Loans

94 95 96 97 98 99 00 01 02 03 04M05J0

5

Mortgages

€ 26,522 billion€ 32,731 billion

CAGR 15.2% CAGR 22.1%

1967 1973 1979 1985 1991 1997 2003

E-banking

52% transactions

Mortgages

9.5%market share

Brokerage

27%market share

gold credit cards

8%

mobile

3% transac7% contacts

private banking3.5%

car insurance

Faster grower in the marketIncome growth

over 20%

… driven by Challenge & Innovation

A truly Multi Network...311 Branches

84 SME Business Units

41 Corporate Business Units

36 Private Banking Centers

484 Corporate Partnerships

1.019 Independent Agents

2 Online Branches

1 Telephone Branch

Multichannel conveniency widelyused by clients

Internet Branches Telephone Cards Mobile

33%8% 4% 3%

52%

Internet Branches Telephone Cards Mobile

1%7%18%

73%

1%

...especially SMEs andCorporates

Leverage our distribution capabilities

Market shares -banks-

2.18

1.45

5.37

5.38

3.46

5.33

3.93

1

2

3

4

5

6

7

97 98 99 00 01 02 03 04

Branches Mutual Funds Loans Deposits

5,34

With a superior quality of service

68

70

72

74

76

78

80

J04 S04 D04 M05 J05

Market Bankinter

+7.19 +6.35

- Quality of Service Index (ISN) -

...in SMEs too

69.97

70.48

71.38

72.75

73.57

74.06

74.30

75.17

75.55

77.09

78.09

65 70 75 80

Bank 1

Bank 2

Bank 3

Bank 4

Market Avg. Banks

Bank 5

Market Avg.

Mkt.Avg.Saving Bnks

Bank 6

Bank 7

Bankinter

Source: Inmark March 2005

Maximizing customers´potential thanksto the leading edge CRM

0.5

1

1.5

2

2.5

0.75 1 1.25 1.5 1.75 2

Bank 2

Bank 3Bank 4

Bank 5Bank 6P

rofi

ts /

Clie

nt

(00

0 €

)

Cross-Selling

Achieving 2x market average inprofit/client and cross-selling

Source: JP Morgan October 2004. Spain base 1

Bankinter leads in innovation

Channels Products

Payments Interaction

Our Value Proposition

Highestquality

Personalizedservices

Mostinnovative

MultichannelConvenience

The “smartest”bank (for the

“smart” clients)

22 GrowthGrowth

Bankinter will carry on beinga story of success

transforming the business

New

ventures

New

ventures

SMEsConsumer lendingNetwork

MortgagesMutual fundsInsurance

Regular

business

Regular

business

DiversificationMarginCycle

Opportunity

Every segment significantly delivers onloan growth

- Average outstanding loan book (€ Mln) -

Credit & Loans Jun’05 Var. €

3,368 846

Non residents 506 119 30.9

Individuals 16,359 2,042 14.3

Private Bkg. 1,811 383 26.8

587

100

4,077

3,647

626

26,317

Var. %

SMEs 33.5

Corporate Bkg. 19.2

PFS 19.0

Total 18.3

Strategy is already paying off

- Business segments results (€ Thousand) -

PBT Jun’05 Var. € Var. %

SMEs 24,322 8,510 53.8

Corporate Bkg. 36,645 10,270 38.9

Private Bkg. 25,401 4,573 22.0

Non residents 3,873 223 6.1

PFS 13,866 2,499 22.0

Individuals 50,418 4,853 10.6

Total 154,525 30,928 25.0

Robust while selective mortgage growth

- Mortgage stock (€ Thousand) -

6,000

10,000

14,000

18,000

22,000

Jun'03 Jun'04 Jun'05Stock RMBS

41.2% 16.6%

Targeting high profile, high potential, low risk customers

67%

8,5%

0%

20%

40%

60%

80%

97 98 99 00 01 02 03 04 1Q05 2Q05

High Average Low

- Mortgage customers profile distribution -

Paves the way to a better portfolioin risk quality...

Newproduction Back book

NPL 0.17%

Avg. cross selling ratio 7.6

Avg. Loan 154,425 € 93,456 €

Avg. spread 0.55%

64.0%

31.4%

72.7%87.8%

0.62%

Avg. LTV 60.4%

Avg. affordability ratio 25.1%

Home1st home

88.8%91.9%

...and a better customer business in profitability and risk

% Loans

% Volume

Avg. ppal. € Spread # of

productsNPL ratio

High 67.3% 75.9% 168,621 0.53%

0.66%

0.68%

8.3 0.09%

Average 24.0% 17.4% 108,416 7.2 0.19%

Low 8.7% 6.7% 114,543 5.9 0.42%

SMEs is the new driver for transformationand profitable growth

An opportunity helped by macro environmentBackground in Corporate lendingNew entrant, niche approachFocusing on the right target clientsDeploying network to get proximity to themWith a strong enough value propositionLeveraging on

•Proven credit assesment•Multichannel conveniency•CRM Deliverin

g

SMEs: competive advantages

Vs. competitors

Execution

Products

Electronic banking

Pricing

Proximity

Client gathering and loan growth speeds up

0

2,000

4,000

6,000

8,000

10,000

Jun'04 Jun'05

59.1%

1,800

2,200

2,600

3,000

3,400

3,800

Jun'04 Jun'05

33.5%

- Average loan growth (€Mln.)-- SME client gathering -

Boosting earnings growth substantially

- SMEs P&L (€ Thousand) -

P&LAcum.

Jun’05Var %

NII 36,893 12,379 50.5Fees 19,608 2,808 16.7Ordinary Margin 56,501 15,187 36.8Costs 31,041 8,250 36.2Operating Income 25,460 6,937 37.5

PBT 24,322 8,510 53.8

250334

441

Jun'04 Dec'04 Jun'05

627

4760

84

0

20

40

60

80

Dec'02 Dec'03 Dec'04 Mar'05 Jun'05

+37

Despite investment in deploying newdistribution capabilities

- New SME Business Units -

+191

- SME staff -

Balancing it with an outstanding credit riskmanagement

- Internal Rating Based (IRB) -

0%

5%

10%

15%

20%

25%

1 2 3 4 5 6 7 8 9Exposure Probability of default

Micro

0%

5%

10%

15%

20%

25%

1 2 3 4 5 6 7 8 9Exposure Probability of default

Medium

Micro ( turnover< € 1 Mln)20% total SME risk exposure

Medium ( turnover< € 5 Mln)80% total SME risk exposure

Transforming the business mix

Results

25%16%

24%35%

Assets

9%

14%64%

13%

1Q'05

9%

14%65%

12%

Personal Bkg Private Bkg Corporate Bkg SME

1Q'0526%

38% 23%

13%

36%

40%

Expanding our network to gain access toprospective clients

311 Branches (+22)84 SMEs business units (+56)41 Corportate B.U(+2)36 Private Bkg B.U (+4)484 Corporate partnerships (+29)1.019 Agents (+27)3 Online branches

To increase client gathering in everybusiness segment

- Client gathering -

35,000

45,000

55,000

65,000

75,000

Jun'04 Jun'05

36.3%

33 Solvency & ValueSolvency & Value

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

86 88 90 92 94 96 98 00 02 04

Sector Bankinter

-NPLs Ratio-

0.68%

0.21%

A history of sustainable good credit riskassessment and control

NPL ratio improves while coverageincreases

0.20

0.22

0.24

0.26

0.28

0.30

0.32

0.34

0.36

J04 S D M

J05

NP

L

390%

430%

470%

510%

550%

Covera

ge

534%

429%

0.33

0.26

A solid capital base to face growth

- Capital Ratio * (en %) -

6.1

1.8

3.3

0

4

8

12

Jun'05

Tier IIPref.Core

11.2

(* Pending on new regulatory treatment for securitizations)

44 SummarySummary

Bankinter is executing successfully astrategy of differentiaton and

profitable growth

Transforming the business seeking healthy, profitable growthAlready reflected in all revenue linesSMEs delivering stronglySelective and healthy mortgage growthDeploying network to boost client gatheringLeveraging on proven CRM capabilitiesHigh solvency

Thank you