Banco Santander closed the first quarter with to evaluate up 32%, to 1,72 billion euros. The Spanish institute, the first bank in the Eurozone by capitalization, has seen profits grow domestic activities by 42%, to 357 million, but also benefited from the good performance of the other two main markets, the Britain and Brazil. The result was also affected by lower loan provisions and by the weakness of the euro against the dollar and the pound.
- uses they rose by 8,1% compared to the last quarter of 2014 and by 14% compared to the same period a year ago. Net operating income, on the other hand, grew by 15% to 8 billion (+4,2% on the previous quarter), against the 6,99 billion in the first three months of 2014 and the 7,83 billion consensus.
“When we made our capital raise in January we said our goal was to take advantage of the organic growth opportunities we expected in our major markets,” the chairman said. Ana Botin.
The institute is pushing on the growth of loans in various markets and aims at strong profits in the next two years. With these objectives, last January it launched a capital increase of 7,5 billion euros.
In a presentation, the Bank says it is in line with its 2017 objectives. Among the targets, a return on tangible equity (ROTE) of 12-14% was indicated. At the end of March this profitability indicator stood at 11,5%.
