- Business
- Childbirth & Education
- Legal Formalities
- Motoring
- Other
- Pensions & Benefits
- Property & Accommodation
- Taxes
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Join us for Tea on the Terrace
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
- Liva & Laia : 15th November
Banco Santander yesterday released its second-quarter figures, showing how their net profit fell by 8% - with strong revenue growth in Latin America being offset by higher loan losses due to the on-going recession in Europe.
Santander, Spain's biggest bank and the eurozone's largest by market capitalization, reported how net profit fell to 2.23 billion Euros between April and June compared to 2.42 billion Euros for the same period last year. However, gross income increase 5% to 10.61 billion Euros from 10.14 billion Euros, Santander said.
Net profit for the entire first half stood at 4.45 billion Euros, down 1.6% from 4.52 billion Euros in 2009.
Santander said the non-performing loan rate was 3.37% for the first half, Increasing from 2.83% for the same period in 2009.
Second quarter loan loss provisions increased 2% at 2.48 billion Euros from 2.42 billion Euros for the same period last year. The bank said that figure and coverage of 73% "compare very well by international standards."
By region, net profit rose by 19.6% in Latin America to 2.16 billion Euros in the first half whereas it dropped in Europe by 5.6% to 2.55 billion Euros.
Shares in Santander on the Ibex35 were trading down 1.39% at 10.28 Euros.