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Santander profits down in Q3 amid loan losses

Santander profits down in Q3 amid loan losses

Spanish financial group Banco Santander says its third-quarter profits fell 26 percent as loan losses increased.
The eurozone's largest bank by market capitalization said it made a profit of (EURO)1.64 billion ($2.26 billion) in the July-September period compared with (EURO)2.22 billion in same quarter of 2009.
In a release Thursday, the bank said revenue was down 5 percent to (EURO)10 billion from (EURO)10.56 billion a year earlier.
Santander shares were down 1.9 percent at (EURO)8.9 euros in early trading in Madrid.


Updated : 2021-10-21 03:51 GMT+08:00