Wednesday, October 25, 2023, 07:53
Santander obtained an attributable profit of 8,143 million euros in the first nine months of 2023, 11% more in current euros (13% more in constant euros) compared to the same period of the previous year thanks to the strong growth in income, especially in Europe and Mexico, which allowed the increase in provisions to be neutralized, according to the information sent this Wednesday to the National Securities Market Commission (CNMV).
In the third quarter, attributable profit increased by 26% (20% more in current euros) compared to the third quarter of 2022, to €2,902 million.
The gross margin grew by 13%, to 43,095 million euros, after increasing the number of clients by nine million, which puts the total at 166 million. The bank explains that the rebound in customer activity and interest rates led to a 16% increase in interest margin, up to 24,134 million euros.
Likewise, net commissions increased by 6%, to 9,222 million euros, thanks to the sales of value-added products, especially in global businesses. These businesses represent 38% of total income and 42% of commission income. Furthermore, interest margin and fee income account for 96% of the group’s total income.
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