Fri. Apr 10th, 2020

Banco Santander achieves a profit up to September of 5,742 million euros, 13% more

Banco Santander achieves a profit up to September of 5,742 million euros, 13% more


MadridUpdated:

Banco Santander has achieved an attributed profit of 5,742 million euros in the first nine months of this year, which is an increase of 13% over the same period of the previous year (28% more in constant euros), as reported in a statement sent to the CNMV the entity.

The bank chaired by Ana Botín has highlighted the growth of revenues in several relevant markets, such as Brazil, Spain, Mexico and Portugal, and the improvement in the quality of credit have "more than compensated" the impact of the depreciations of some currencies, such as the Argentine peso, with respect to the euro.

Regarding the benefit before taxes it has risen 23% with respect to the same period of the previous year in constant euros, up to 11,230 million, with a growth of ordinary profit in eight of the ten main markets.

On the third quarter of the year, the entity has reported that the attributed profit has been 1,990 million euros, 36% more than in the same quarter of 2017. In that period last yeare have registered 515 million euros of extraordinary charges, of which 300 million were due to the integration of Popular. Regarding the profit before taxes of the third quarter of 2018, this has increased by 17% in constant euros with respect to the same period of 2017.

In the words of the president of Banco Santander, Ana Botín, "we have achieved very good results again: attributable profit has grown by 13% in the first nine months of the year". In his opinion, this has been achieved «in a responsible and sustainable way, increasing the linked customers and digital thanks to our investment in digital transformation, and achieving to be among the first three in customer satisfaction in most of our markets ».

Good prospects in Brazil, Mexico and Spain

Botin has added that Brazil, Mexico and Spain have maintained the positive trends of recent quarters, and the United Kingdom shows an improvement in quarter-on-quarter data in an environment that continues to be "complicated".

In this sense, he has indicated his "confidence in achieving all the objectives of our three-year plan, including the double-digit growth of earnings per share this year ». The top executive of Banco Santander has highlighted the leading position of the entity in Europe and America, with 142 million customers: "it allows us to have great potential for organic growth, profitably and responsibly". For what it has foreseen, that at the beginning of 2019 and if it continues in the current line, the entity will publish a plan in the medium term.

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