Santander profits soar to €1bn
on 24/10/2013 12:03:45
The largest bank by market value in the 17-country eurozone said profit in the July-September period rose from €122m a year earlier. Gross income dropped to €9.74bn from €10.71bn.
Santander president Emilio Botin said that, after years of making provisions for bad investments, the bank was now in a position to build profits.
For the first nine months, net profit jumped 77% to 3.3bn.
Shares rose 0.5% to €6.6 in morning trading in Madrid today.