Bankinter

1. Regulatory Risks: Bankinter S.A. is subject to regulatory oversight as much as other public companies. This means that changes in government policies, including taxation, accounting regulations, or banking regulations, can have significant effects on the financial performance and stock price of Bankinter S.A.

2. Credit Risk: Bankinter S.A. is exposed to credit risk, given that the company’s lending activities and financial services require them to provide credit to customers. A material increase in customer defaults could have a negative effect on its financial performance and stock price.

3. Interest Rate Risk: Due to its lending activities, Bankinter S.A. is exposed to the risk of changing interest rates. Any move that leads to a sharp rise in the cost of borrowing or a significant reduction in the rates Bankinter S.A. charges its customers could have a negative effect on its financial performance and stock price.

4. Market Risk: The stock market, which indirectly affects the ADSs performance, can at anytime enter a bear market, which could impact the stock price of Bankinter S.A.

5. Currency Risk: Because Bankinter S.A. operates in multiple countries, it is also exposed to exchange rate risks, which could affect the performance of its ADSs if exchange rates move unfavorably against the company’s core market.