Reported 29 days ago
Santander's net profit for the third quarter reached a record €3.25 billion, up 12% year-on-year, fueled by a rise in retail banking profits and a decrease in loan loss provisions, despite a decline in lending income due to lower eurozone interest rates. The bank's lending income remained flat at €11.225 billion, falling short of analyst expectations, as competition in the mortgage market increased. Additionally, Santander's UK unit postponed earnings release following a court ruling on motor finance brokers that may impact future earnings.
Source: YAHOO