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Profit little changed at Spain's Santander

Profit little changed at Spain's Santander

Banco Santander, Spain's largest bank, said Wednesday its third-quarter profits held steady at ⁈illion euros ($3.3 billion) from the previous quarter thanks to strong revenue growth, after two straight quarters of lower earnings.
The euro-zone's largest bank by market capitalization said the profit figure for the July-September period compared to ⁈illion ($3.29 billion) in the second quarter.
It said revenue in the third quarter grew 11 percent year-on-year.
Santander said it is on track to match its 2008 net profit figure of ⁈illion ($13.2 billion).
The bank's net profits had fallen 5 percent in the first quarter because of Spain's economic slump and by 4 percent in the second quarter, in part due to a surge in non-performing loans.


Updated : 2021-08-02 02:00 GMT+08:00