Spain's Santander posts 20% hike in net profit as retail business shines

  • 📰 CNBC
  • ⏱ Reading Time:
  • 37 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 72%

Breaking News: Markets Nouvelles

Banks,Earnings,Markets

Banco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity.

The company's net profit attributable to the parent group came in at 3.207 billion euros , in line with a consensus from analysts polled by Reuters.

The company's net profit attributable to the parent group came in at 3.207 billion euros , in line with a consensus from analysts polled by Reuters. Its return-on-tangible-equity ratio — a profit metric — rose to 16.8% in the June quarter, up from 14.9% in the first quarter, and to 15.9% in the first half, up from 14.5% in the same period of last year — prompting the bank to improve its RoTE guidance to above 16% for full-year 2024, from a forecast at 16% previously.

Net interest income: 11.47 billion euros in the June quarter, compared with 10.52 billion euros in the same three-month stretch of last year — but below a 11.96% forecast for the second quarter of 2024 from analysts polled by Reuters.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in BE

Belgique Dernières Nouvelles, Belgique Actualités