The Spanish group Santander recorded profits of 8,143 million euros in the first nine months of the year, 11.3% more than in the same period of 2022, the bank announced this Wednesday.
Since the beginning of the year, the group’s revenues have increased by 11.6%, to €43,095 million, and profits in Europe increased by 47%, to €4,176 million.
Santander’s revenue in Europe increased 23%, driven by the financial margin, which rose 32%, while costs increased 7% in Europe.
By region, the European continent contributed the most to the group’s profits, with 45%, followed by South America (25%), North America (21%) and Digital Consumer Bank (9%).
Since the beginning of the year, the operation in Portugal has contributed 604 million euros to the consolidated results of the Santander group, a variation of 67.6% compared to the same period last year.
The operation in Portugal recorded, until September, a financial margin of 1,014 million euros, an increase of 96.6% compared to the same period in 2022.
Regarding the credit portfolio, it fell 6.8% in the period, to 37,811 million euros, while deposits fell 10.0% year-on-year to 35,524 million euros.
As a whole, the Santander group achieved a RoTE (‘Return on Tangible Equity’) profitability index of 14.83%, an increase compared to 13.57% in September 2022, while the non-performing loan ratio reached 3.13 %, which represents an increase of 0.05 percentage points. year with year.
At the national level, the RoTE index stood at 23.12% (13.20% in September 2022), while the non-performing loan ratio reached 2.48% (3.03% in September 2022).
In North America (United States and Mexico), Santander obtained profits of 2,271 million euros in the first nine months, while in South America the results were 2,884 million euros in the same period.
Last year, the Spanish group Santander obtained profits of 9,605 million euros, a record amount that represented an increase of 18% compared to 2021.
Source: TSF
