Morning of banking quarterly reports, with eyes focused on two of the largest banks in Europe, the Spanish Santander and Deutsche Bank. With contrasting results: Banco Santander has in fact announced that it witnessed in the third quarter of this year a decline in net profits, despite the rise in the net interest margin on an annual basis (to 8,68 billion, compared to 7,80 billion in the previous year). Profits stood at 1,46 billion euros, compared to 1,70 billion in the third quarter of last year, while Common Equity Tier 1, a key parameter that measures a bank's capital solidity, improved, rising to 10,80, 10,47% compared to XNUMX% in the third quarter of last year.
Deutsche Bank instead closed the third quarter with a net profit of 647 million, higher than analysts' estimates. The largest European bank has announced a reduction in costs related to the restructuring and provisions for legal disputes. In the third quarter of last year Deutsche Bank had made net profits of 256 million. In addition the German bank has achieved the plea agreement with the authorities of 45 US states e will pay a total of 220 million dollars to settle the latest disputes relating to allegations of having participated between 2005 and 2009 in a cartel for the manipulation of the London Interbank Offered Rate (Libor).
A story for which the German banking giant has already paid $2,5 billion (of the total 9 billion disbursed by the institutions involved) in sanctions and compensation to the authorities in Washington and London and another 77 million dollars last June to settle lawsuits brought by investors also in the USA.
