Wizink Bank, S.A.

WiZink Bank, S.A. is a Spanish consumer finance bank headquartered in Madrid that focuses on credit cards and straightforward savings products for retail customers in Spain and Portugal. The institution traces its origins to Banco Popular-e and adopted the WiZink brand in 2016, expanding its card franchise in Iberia through the acquisition of selected Barclaycard portfolios. It operates primarily through digital channels without a traditional branch network, issuing revolving credit cards (Visa/Mastercard) and offering online savings accounts and term deposits. Funding is predominantly retail deposits, complemented by securitisations of credit card receivables and other wholesale instruments. WiZink is authorised in Spain and supervised by the Banco de España and the European Central Bank within the Single Supervisory Mechanism as a less significant institution; customer deposits are covered by Spain’s Fondo de Garantía de Depósitos up to the statutory limit per depositor. The bank’s ownership is controlled by investment funds managed by Värde Partners following transactions completed after Banco Santander’s acquisition of Banco Popular, leaving WiZink as a standalone specialist lender. Financial performance and capital planning have been influenced in recent years by litigation and regulatory developments related to the pricing of revolving credit in Spain, leading to elevated provisions, changes to underwriting and pricing, and a gradual reshaping of the loan book; risk remains concentrated in unsecured consumer exposures. WiZink reports under IFRS, publishes audited annual financial statements and Pillar 3 disclosures, and states compliance with PSD2 strong customer authentication and applicable data protection rules. In Portugal, the bank serves customers through a branch structure and has conducted selective portfolio transfers over time as it adjusts its footprint.