The Santander has achieved a net profit of 7,810 million euros in 2018, which represents an increase of 18%, thanks to the good performance of the business in Brazil, where it gets 26% of the result, and of Spain (where it gains 21% more after integrating Banco Popular).
However, the depreciation of the currencies of the countries in which it works punishes the income statement, which has timid advances until the decrease in provisions due to the improvement in delinquency and the lower extraordinary expenses charged this year allows it to advance to raise the benefit of the group by 18%. The bag, the Santander started with slight discounts.
The United Kingdom is the worst news for Santander, whose results decrease by 9.1% (the group has announced cuts of offices and staff in this country) while those in Poland fall by 1%. Mexico achieves an advance of 7% and Chile of 5%; in the United States Santander earned 552 million, 35% more. Europe contributed with 52% of the result and America with 48%. The business of the consumer credit unit achieved 13% of the profits, as well as the entire United Kingdom.
The figure of results is above the 7.640 million that, on average, expected the analysts of Bloomberg. Ana Botín, president of the entity, has indicated in a statement that the entity continues "as one of the most profitable and efficient banks in the world among our competitors" and highlights that the entity has achieved its goal of increasing the profit by two digits. share, 11.2%, up to 0.449 euros.
Regarding the integration of Popular, he indicated that "it is progressing faster than expected and the transformation of our business in the United States is progressing at a good pace". In addition, the board trusts the bank's ability to "take advantage of the great potential to continue growing organically" and that they already have 144 million customers, of which 32 million, or 22% of the total, use digital services.
The company has announced that it will present the new strategic plan in April after completing the current one that covered 2016 to 2018. In principle, this new plan was going to pilot Andrea Orcel, from UBS, He was announced as the new CEO of the group, but the signing was frustrated. According to the entity, Santander knew, months after the announcement, that it had to pay 50 million to Orcel for abandoning its previous bank and said it was not willing because it seemed an excessive amount that went against the principles it holds before its shareholders, according to the version of the entity.