Banco Santander recorded profits of 1717 million euros in … – publico

                 

                         
                     

                 

 
                         

Banco Santander, based in Spain, posted profits of 1717 million euros in the first quarter of the year, 32% more than in the same period 2014, mainly due to business in Spain, the UK and Brazil.

                     

                         In addition to the positive development in its three major markets, the Spanish group also noted the “positive impact” of the evolution of exchange rates, “an effect that adds to the favorable trend of the activity and the group’s revenues.” Without the effect of exchange rates, the profits of Santander would have risen 22%.

Net interest income grew by 15% of Santander in the first three months, to 8038 million [over 7852 million expected by analysts] while gross profit increased 13% to 14,444 million.

The revenue from commissions were 2524 million euros, down from 2,578 million in the last quarter of 2014. The Santander explained that this figure was impacted the regulatory and economic context, and the collection of insurance in Brazil in the fourth quarter.

The revenue of the Santander rose 13%, while costs rose 11%. Net margin (difference between income and costs) was 6067 million, or 15% more than January to March 2014. The loan-loss provisions also declined 5%.
With these figures, the ratio of Santander’s efficiency has improved almost one percentage point (to 47%). The Spanish bank said so it is “one of the most efficient financial institutions in the world.”

The credit reached 813.260 billion, up 100 billion (or 14%) than in the first quarter of 2014. Also deposits and investment funds grew by 14% to EUR 780 billion.

The bank’s capital ratio ended the quarter at 12%. As for the return on tangible own resources (ROTE) was besieged at 11.5% (an improvement of 1.1 percentage points).

For markets, the business of Santander in Spain generated profits of 357 million, 42% more than in 2014, representing 15% of the total group.

The UK accounted for 477 million profit (355 million pounds, up 14% and 20% of total).

However, the “star” of the results was Brazil, which grew 41% in profits to € 516 million (1657 million dollars). Brazil accounted for 21% of group profits in the first quarter

Portugal represented 2% of the profits of the Santander Group in the first quarter and was the only market -. Among the top ten in that bank operates – in which the granting credit did not grow.

The total bank assets amounted to 1.36 billion euros, 17% more than in 2014.