Santander’s net profit climbs to 2.4 bn euros in Q3

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Spanish banking giant Banco Santander on Wednesday announced an 11-percent increase in net profits year-on-year in the third quarter.

The company posted a net profit of 2.42 billion euros ($2.41 billion) between July and September, thanks to strong commercial performance in Poland and Argentina.

It surpassed forecasts of analysts who expected a profit of 2.15 billion euros. In the year to date profits climbed 25 percent to 7.32 billion euros.

Ana Botin, the executive chair of Banco Santander, said the group had delivered a “strong quarter with revenues increasing and profitability remaining above target… supported by our rock-solid balance sheet”.—AFP

 

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