Banco Santander SA (SAN) on Wednesday posted higher profit for the first nine months of the year, mainly supported by higher total income and lower expenses.
Profit before tax from continuing operations rose 4.9% year-on-year to €13.761 billion from with €13.121 billion. Excluding one-time items, underlying profit before tax increased to €15.5 billion from €14.427 billion in the prior year.
Net operating income was €25.128 billion, up from €24.659 billion last year. Underlying operating income grew 0.8% to €27.144 billion.
Net income climbed to €10.337 billion or €0.66 per share from €9.309 billion or €0.57 per share a year ago.
Total income for the nine-month period was €43.507 billion, up 0.6% from €43.259 billion last year.
Net interest income decreased 3% to €31.559 billion, while net fee income rose 3.4% to €9.501 billion. The company recorded gains on financial assets and liabilities and exchange differences of €1.653 billion, 14.5% up from last year.
Underlying net interest income was €33.816 billion, down 2.5%.
Net loan-loss provisions amounted to €9.109 billion, a 1% decrease year-on-year.
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