- Banco Santander's (SAN) Q4 net profit more than doubled to €1.06B ($1.45B) but fell short of forecasts of €1.2B.
- Net interest income dropped 11.6% to €6.28B.
- Overall lending -7%, but strong in Latin America
- Loan-loss provisions €2.4B, the lowest in eight quarters.
- Non-performing loans 5.64% vs 4.54% a year earlier.
- The IPO of Santander Consumer USA provides Santander with gain of €740M.
- "After several years of strengthening the balance sheet and capital, Banco Santander is embarking on a period of strong profit growth in the coming years," says Chairman Emilio Botín.
- Shares are -1.8% in Madrid. (PR)
Santander Q4 net profit jumps to €1.06B
Jan 30 2014, 04:22 ET