Tag: $Santander

Spain’s Banco Santander (SAN) reported a surge in profit as it added more customers and logged a large gain from a recent disposal.

Santander UK has revealed a hike in annual profits despite putting by another £183 million to cover costs of the motor finance mis-selling scandal and warned over cost-cutting in the year ahead.

Santander has delayed the release of its full UK results because of a court ruling on car loans while revealing the latest drop in the division’s profits, as one of the bank’s most important markets emerges as a trouble spot.

Banco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity, after firm revenues and margin management in Europe and Brazil.

Santander has announced that it will seek to pay out €5.5bn (£4.7bn) to shareholders just weeks after the bank unveiled record annual profits in 2023.

MADRID, Oct 25 (Reuters) – Spanish bank Santander beat forecasts on Wednesday with a 20% rise in third quarter net profit as a strong performance in Europe offset weaker trade in the United States and higher provisions.