Wednesday, November 2, 2016

Profits of Santander Totta grew 66% to September – Jornal de Negócios – Portugal

The Santander Totta got the profits in the 293,7 million euros in the first nine months of the year. The value represents a gain of 66% compared to the same period last year.

this means that the financial institution led by António Vieira Monteiro recorded an increase of two-thirds of the net income in the nine months that followed the acquisition of Banif in the framework of the resolution measure applied by Banco de Portugal.

The financial margin (the difference between interest paid and interest charged) amounted to 548,5 million euros, 31.4% of that between January and September 2015. The bank justifies the performance with the “decrease in the cost of deposits”.

net commissions advanced 18% to 237,6 million, in the opposite direction to the 3% fall seen in the results from financial operations.

On the sum of these items, the banking product of the Santander Totta amounted to 21,2% in the first nine months of the year, settling in 899,1 million euros.

The capital bank Spanish does not specify which impact on these indicators of the acquisition of Banif.

the operational costs of The bank rose by 11.1% to 394,5 million euros, mainly due to the worsening of the overall burden.

To assist in the improvement of profits were also to the impairment. The bank has decreased by 23,8%, to 110 million, the money spent to cover future losses.

In terms of capital, the ratio that measures the best capital of the bank stood at 15.8% in September, 0.1 percentage point higher than a year earlier, according to the rules in force.

Looking for the balance, the credit crude slipped 1.1% to 33,8 thousand million euros, with breaks in the personal credit and the increase in credit to companies. The features went up by 4.5% to 32.2 billion euros, up 27.9 billion in deposits.

(News updated at 12:34 with more information)


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