Santander Net Profit Rises
28 July 2017 - 3:55PM
Dow Jones News
By Jeannette Neumann
MADRID--Banco Santander SA (SAN) said net profit and net
interest income rose in line with figures it had pre-announced
early this month when it launched a capital increase to fund its
cleanup of Banco Popular Espanol SA.
Santander said net profit rose to 1.75 billion euros ($2.04
billion) in the second quarter from EUR1.3 billion a year earlier.
Net interest income in the first quarter was EUR8.61 billion
compared with EUR7.57 billion. Those figures include its
acquisition of Banco Popular.
Santander's capital ratio was 9.58% in June compared with 10.66%
in March under international regulations known as "fully loaded"
Basel III criteria. Santander has among the lowest ratios of major
European banks and investors are closely attuned to how it builds
its capital.
Since those figures were expected, investors and analysts will
be listening closely to the conference call held by executives
later Friday morning for more details about how Santander expects
to dispose of Banco Popular's property assets.
-Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
July 28, 2017 01:40 ET (05:40 GMT)
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