Santander increases the benefit by 1% in the third quarter and exceeded forecasts – Investing.com Spain

MADRID (Reuters) – Banco Santander (MK:) on Wednesday announced an increase of 1 percent year-on-year in net profit for the third quarter sealed up to 1.695 billion euros, in figures, weighed down by the pressure of margins in Spain and the United Kingdom.

The figure was more than 1.546 million expected by analysts according to a survey by Reuters, aided by the evolution of your business in Brazil.

The largest banking group in the eurozone, which as a result of the challenge of Brexit in its main market, the United Kingdom, recently revised downward its projections of profitability, aided by the slow but constant reucperación of Brazil, its second-largest market.

This Wednesday, the group said it is currently “in line” to meet targets for 2016 and 2017.

“we Hope to finish in 2016 to grow to the benefit with respect to 2015, which will allow us to increase the dividend per share and earnings per share,” said the president of Banco Santander, Ana Botín, in a communiqué to the CNMV.

The profit attributable to the group in the first nine months of the year decreased by 22.5 per cent to 4.605 million euros, compared to the 4.457 million expected, in a comparison unfavorable for the high extraordinary positive in the past year.

The interest margin of the bank – the difference between the cost of deposits and the profit generated by the loans – was reduced in January-September, a 5.4 per cent to 22.992 million euros, while in the third quarter isolated was 7.798 million euros, 3 percent more than in April-June of 2016, and in front of 7.702 billion forecast in the poll of Reuters.

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