Santander won 3.426 million until June, 24% more, more income – W Radio

Madrid, July 30 (EFE) .- The Banco Santander net earned 3.426 million euros in the first half of the year, representing an increase of 24% from a year earlier due, among other reasons, increased revenues , the exchange rate and lower provisions recorded.

In a statement sent today to the National Securities Market Commission (CNMV), the bank explained that the business grew in ten key markets where it operates and adds that in Spain, net profit rose 50% and reached 771 million euros, after cutting costs as well as transfers to provisions.

The company has not included in these accounts capital gains of 835 million euros expected by analysts, who come from some provisions that have been released after resolved the dispute that kept the Brazilian subsidiary with social security in the country, but that has to strengthen capital ratios.

As it explains the president of the bank, Ana Botin, half-yearly accounts “reveal the strength and recurrence Santander model” in improving the business and “profitability, operational excellence and credit quality. “

The customer loans grew 13.1% to 799.233 million euros, while deposits rose 11.4% and totaled 687 900 million and deposits and funds Investment increased 12% and totaled 823 482 000.

This loan portfolio recorded at the end of June NPL ratio of 4.64%, with an annual decline of 0.81 points after the delinquencies in the second quarter were reduced by about half over the previous year.

By country, the bank points out the increase in net profit in Spain, where costs fell 4% and provisions grew by 37%, while credit remained stable and resources grew 6% year.

It also improved net profit in the nine markets that the bank considers key, especially in the UK and Brazil.

In the UK, the company earned 1,029 million euros, 33%, with an increase of 5% in revenues and a 60% drop in provisions, while credit It grew 4% and resources, 5%.

Brazil, meanwhile, saw net income grow 33% to 1,007 million euros, an increase of 9% of revenues , double the costs. Lending increased 16% and customer funds, 13%. EFE