Banco Santander, Spain's leading lender, closed its second quarter of 2013 with net income of 1,05 billion euros, up sharply compared to 123 million in the same period last year but below the forecasts of analysts, who had indicated profits of 1,1 billion.
On the horizon half yearly the picture improves, with a net profit at 2,25 billion, up 29% compared to the same period last year, and in line with market expectations.
The bank, which generates much of its profits in the Latin American market, made a net interest margin (a measure of its earnings on loans adjusted for the cost of funding and net write-downs on loans and risk provisions on loans) down 13%, to 13,37 billion euro.
In terms of capital solidity, as at 30 June 2013 Core Tier 1 according to the Basel II criteria rose to 11,11%.
