IBEX


Banco Santander 2016 results

Santander 2016 Net Profit Up 4% At €6.204 Bn: Best Results Since 2010

Banco Santander posted net profit of 6.204 billion euros en 2016, up 4% from a year earlier and its best results since 2010, supported by a decline in provisions. The bank attributed these results to the “strong” growth in commission revenues and improved credit quality. These factors were contrasted by some currencies’ weakness against the euro and increases in taxes in Poland and the UK.