Growing profits for Banco Santander, Credit Suisse and Daimler. The Spanish bank closed the third quarter with a net profit that increased from the 122 million euros of the same period last year to 1,055 billion, a result slightly lower than analysts' expectations, at 1,07 billion.
Looking at the first nine months of the year, Banco Santander's profits increased by 76,9% year on year, to 3,31 billion euros. The Basel II capital ratio rose to 11,56% at the end of the third quarter, an increase of 0,45% over the previous three months. Satisfied Emilio Botin, president of the institute: "After many years of recovery and capital strengthening, Banco Santander is preparing for a new period of increase in its profitability".
The third quarter of Credit Suisse, however, went on file with a net profit up 79% to 454 million francs Swiss from 254 million in the same period in 2012. The result, however, disappointed the expectations of Bloomberg analysts, who had forecast a profit of 724,1 million. In the first nine months, profits reached 2,8 billion francs, against 1,09 billion a year ago.
The Swiss bank, in a note, announced the simplification of its interest rate trading activity, in order to increase returns: "This restructuring - reads the press release - should free up substantial resources and will lead to a reduction in leverage exposure according to Swiss requirements of $60 billion and a RWA reduction of $7 billion.
Profits are also flying Daimler. In the third quarter profits of the German automaker increased by 53% year-on-year to €1,9 billion. The group's turnover grew by 5% in the period considered, to 30,1 billion. Daimler also confirmed forecasts of an increase in sales and a slight decline in profit for the whole of 2013 compared to the previous year, at around 7,5 billion euros.
More moderate growth for AT&T. The American mobile phone giant reported profits for $3,81 billion in the third quarter, up 4,9% every year. Excluding extraordinary items, earnings per share went from 62 to 66 cents, against a consensus of 65 cents. Revenues were slightly below expectations, growing by 2,2% to 32,16 billion against the 32,19 forecast by analysts.
