The Santander Group achieved a net profit attributable to 5000 816 million euros in 2014, an increase of 39.3% compared to 4000 175 million won in 2013, announced today the company at the Comisión Nacional del Mercado de Valores (CNMV).
The profit improvement, explains the entity, is due to the increase of 3% on basic income as well as to lower costs and decrease of 14% in loan-loss provisions relative to those in 2013, combined with a business improvement.
The default rate of the Group fell to 5.19%, 0.42 percentage points lower than at the end of 2013, while the rate of coverage provisions of these defaults improved two points to 67%.
The loan amounted to 761 000 928 000 000 euros, 5% more than in 2013, while deposits and mutual funds amounted to 772 000 336 000 000 and 6% year rose.
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