santander results

Banco Santander

Santander Q1 Profit 331 Mn€, Down 82% Vs Previous Year; Provisions 1.646 Bn€

Banco Santander reported attributable profit of €331 million in the first quarter of 2020, 82% less than a year earlier, after recording a net charge of €1.646 billion. This impact was mainly due to a provision of €1.600 billion for the expected deterioration in macroeconomic conditions resulting from the health crisis caused by the Covid-19 pandemic.



Santander rose attributable profit during the 9M18 by 13% to €5,742 M

Santander Reported Attributable Profit Of €5,742 M- Up 13% To September Driven By Spain And Brazil

Banco Santander increased attributable profit during the first nine months of 2018 by 13% to €5,742 million (+28% in constant euros), as strong growth in revenues in several markets, combined with improvements in credit quality, more than offset the impact of exchange rate depreciation against the euro in certain currencies, including the Argentine peso. Profit before tax for the period was €11,230 million–up 10 % (+23% in constant euros).


Spanish banks 's 2Q18 results season will start on July 25th

Spanish Banks Will Present Results Amidst Concerns Of Potential Bank Tax

Spain was a well-liked region within European banks until the new government came into place. As Morgan Stanley points in a note to investors, “the negative noise around a potential bank tax and the doubts on the fiscal plans have hit the sector.” Santander will kick off the 2Q18 results season on July 25th with all the eyes on its capital position and headwinds from Latam currencies. Issues like Turkey in BBVA and TSB in Sabadell have provided more downside to some of these names.