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| 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 |
From May 2019 to May 2024
By Rogerio Jelmayer
SAO PAULO--The Brazilian unit of Spain's Banco Santander SA (SAN.MC) posted a net profit gain of 10.3% in the third quarter, as the bank's increased financial-services revenue offset a rise in provision charges.
Banco Santander Brasil SA (SANB11.BR) on Wednesday said net profit totaled 1.88 billion reais ($607 million), up from BRL1.7 billion in the year-ago period.
Financial-services revenue, including tariffs, increased nearly 18% to BRL3.4 billion.
The bank's provisions to cover bad loans rose nearly 16% to BRL2.8 billion in the period. The increase came as Brazil's economic recession persisted and economists expected the country's labor market to deteriorate further.
After contracting 3.8% last year, Brazil's economy is expected to shrink 3.2% this year, according to economists.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
October 26, 2016 06:20 ET (10:20 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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