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Banco Santander Posts 9-month Profit

Spanish Financial Group Banco Santander S.A. (BNC.L,BSBR,SAN) Wednesday reported profit for the nine months, driven by good volume growth, with lendings up 4 percent and deposits up 6 percent, both year-on-year.

The Group posted attributable profit of 5.85 billion euros for the nine-month period, compared to a loss of 9 billion euros last year. Excluding restructuring costs, the Group said, its underlying profit grew 74 percent to 6.38 billion euros.

Net operating income for the period rose 5 percent to 18.8 billion euros. At constant currency, operating income grew 11 percent.

For nine months, the Group's total income grew 3 percent to 34.6 billion euros, while it was up 8 percent at constant currency. Net interest income was up 2.6 percent to 8.46 billion euros.

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