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10/30/2019, 6:51 AM (Source: TeleTrader)
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Santander posts net income of €501M, beats expectations

Santander said on Wednesday that its net income came in at €501 million, beating expectations, but dropping 75% compared to the third quarter in 2018. The bank added it earned €3.7 billion in attributable profit in the first nine months of the year after €2.4 million in charges and added it reported its highest underlying profit in a decade which amounted to €2.1 billion in the third quarter.

Total revenues were €12.5 million in the quarter ending September 30, increasing 6% from the same quarter last year.

Ana Botin, the bank's CEO, stated: "Our global scale and local leadership, combined with a more agile organization led by our first-rate team, provides a unique foundation and significant opportunities for further growth. I am confident we will achieve our medium-term targets, including reaching a RoTE of 13-15%."

Breaking the News / VP