In the first nine months of the year Banco Santander posted net profits of 1,8 million euros, down 66% compared to the same period of 2011. The provisions imposed by law penalized the Spanish Bank. The Institute communicated that it had carried out 90% of the write-downs on the real estate portfolio established by the government. Without calculating the extraordinary item, profits would have risen by 3% to 18,1 million. The Core Tier capital ratio is 10,4%.
Between January and September Santander started 14,54 billion in provisions (against 7,3 billion in the same period of 2011): 9,5 billion for non-performing loans e 5 billion for real estate. Over the 9 months, loans rose by 3%, to 754 billion, and deposits by 4%, to 642 billion. Exposure to real estate decreased by 5,5 billion to 26,5 billion.
Net revenues they amounted to 23 billion, in line with expectations, while the group's non-performing rate stood at 4,33%.
