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STD Banco Santander, S.A. Sponsored Adr (Spain)

6.10
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Banco Santander, S.A. Sponsored Adr (Spain) NYSE:STD NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.10 0.00 01:00:00

Santander 1Q Net Profit Falls 5% on Year on Weaker Lending Income

27/04/2016 6:46am

Dow Jones News


Banco Santander (NYSE:STD)
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By Jeannette Neumann

 

MADRID--Banco Santander SA (SAN) on Wednesday reported a 5% decline in first-quarter net profit from the year-earlier period to EUR1.63 billion ($1.84 billion) on weaker lending income.

Analysts had anticipated Santander would report net profit of EUR1.5 billion in the first quarter, according to a poll by data provider FactSet.

The bank, led by Executive Chairman Ana Botin, said net interest income was EUR7.62 billion compared with EUR8.04 billion in the first quarter of 2015.

Net interest income, a key driver of revenue for retail banks like Santander, is the difference between what lenders pay clients for deposits and charge for loans.

Analysts had estimated Santander would report net interest income of EUR7.63 billion in the first quarter, according to FactSet.

 

Write to Jeannette Neumann at jeannette.neumann@wsj.com

 

(END) Dow Jones Newswires

April 27, 2016 01:31 ET (05:31 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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