1/31/2018, 7:11 AM (Source: TeleTrader)
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Santander posts net income of €1.5B in Q4

Banco Santander SA said on Wednesday its net income for the fourth quarter of 2017 stood at €1.5 billion, marking a 4% decline from the same period last year, but still topping market estimates. Earnings per share (EPS) were €0.09 in the October to December period.

The fall in profit was attributed to a €500 million impairment in its US unit. Gross income in the three-month period amounted to €12.1 billion and pre-tax profit was €3.4 billion. Net interest income was reported at €8.6 billion in the last three months of the year, while net operating income stood at €6.1 billion.

For the full fiscal year 2017, the bank reported a 10% jump in net interest income and gross income which stood at €34.3 billion and €48.4 billion, respectively. Net profit in 2017 rose 7% to €6.6 billion and EPS stood at €0.4.

Breaking the News / NP