Banco Santander Q1 Profit Rises YoY - Quick Facts

(RTTNews) - Banco Santander SA (BNC.L, BSBR, SAN) reported that its first-quarter pre-tax profit from continuing operations increased year-over-year to 3.69 billion euros from 3.31 billion euros, last year. Profit for the period from continuing operations increased to 2.41 billion euros from 2.19 billion euros. Earnings per share was 0.12 euros, unchanged from the first quarter of 2017, affected by the capital increase last year. The company noted that, in annualised terms, it would be clearly higher to that for the full 2017. Underlying profit before tax increased to 3.69 billion euros from 3.31 billion euros. Underlying EPS was 0.12 euros, flat with prior year.

First-quarter net interest income was 8.45 billion euros compared to 8.40 billion euros, last year. Net interest income rose 11%, due to greater lending and higher deposits, mainly in developing countries, the entry of Banco Popular and management of spreads. Fee income was up 14%. Gross Income in the first quarter increased by 11% in constant euros to 12.15 billion euros.