Spain’s Santander Q3 profit grows 11% over the same period last year By Stocksak

© Stocksak. FILEPHOTO: A man uses an automated teller machine at Santander bank branch, Ronda, Spain. October 25, 2022. REUTERS/Jon Nazca

MADRID, Spain (Stocksak), Wednesday: Spain’s Santander reported that its third quarter net loss rose 11% in comparison to the same period last year. Higher revenues across its markets offset an increase in loan losses provisions and costs.

The net profit of the second-largest lender in the euro zone in terms of market capital was 2.42 billion euros ($2.41 trillion), an increase of 2.17 billion euros in that quarter last year.

Stocksak polled analysts and predicted Santander would post a net profit in excess of 2.19 billion euros.

($1 = 1.0045 euros)

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