Santander 1Q Net Profit Rises 10%
April 24 2018 - 1:44AM
Dow Jones News
By Pietro Lombardi
Banco Santander SA (SAN.MC) said Tuesday that first-quarter net
profit rose 10%.
The Spanish bank, one of Europe's largest lenders, said net
profit rose 10% to 2.05 billion euros ($2.51 billion), surpassing
analysts' expectations of about EUR2.03 billion, according to a
consensus forecast provided by FactSet.
Net interest income, the difference between what banks earn from
loans and pay for deposits, was EUR8.45 billion, compared with
EUR8.40 billion a year earlier.
Santander's fully loaded CET1 ratio, a key measure of capital
strength, notched up to 11% from 10.84% in December.
"The outlook for 2018 remains positive, and I am confident our
teams will execute well so we reach our objectives this year, as
well as delivering profitable and responsible growth going
forward," Executive Chairman Ana Botin said, adding that the profit
growth was driven by the bank's solid results in Brazil, Spain and
Mexico, as well as improved performance in the U.S.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
April 24, 2018 01:29 ET (05:29 GMT)
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