Santander Posts Higher Third-Quarter Profit -- Update
October 29 2015 - 3:09AM
Dow Jones News
By Jeannette Neumann
MADRID-- Banco Santander SA on Thursday reported a 5% rise in
third-quarter profit on stronger lending income and slightly lower
loan-loss provisions.
The bank said net profit for the quarter came in at EUR1.68
billion, roughly in line with analysts' expectations of EUR1.7
billion, according to a poll by data provider FactSet.
Santander, the eurozone's largest bank by market value, said net
interest income was EUR7.98 billion, up from EUR7.5 billion in the
same period last year, roughly in line with analysts' forecasts of
EUR7.9 billion. Net interest income, a key driver of revenue for
retail banks, is the difference between what lenders pay clients
for deposits and charge for loans.
Net profit in the U.K., Brazil, Spain--the bank's three largest
units--was up in the first nine months of the year compared with
the year-ago period.
Santander reported a "fully loaded" capital ratio of 9.85%, a
sliver higher than in the second quarter. Investors and analysts
are closely watching the pace at which Santander is able to
generate capital, given that the lender is below the ratio of
European banking peers.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 29, 2015 02:54 ET (06:54 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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