Santander Sees 2023 Targets on Track After Interest Income Boosts Profit
2023年10月25日 - 2:39PM
Dow Jones News
By Adria Calatayud
Banco Santander said it remains on track to meet its 2023
targets after it reported a forecast-beating rise in net profit for
the third quarter, with income from higher interest rates boosting
its top line.
The Spanish bank said Wednesday that net profit for the quarter
was 2.90 billion euros ($3.07 billion), up 20% on year.
Total revenue rose 10% to EUR14.86 billion, mainly driven by
higher net interest income--the difference between what banks earn
on loans and pay clients for deposits--and a more muted increase in
net fee income. Net interest income climbed to EUR11.22 billion in
the third quarter from EUR10.52 billion in the second.
Analysts polled by FactSet expected Santander to report a
quarterly net profit of EUR2.77 billion on total revenue of
EUR14.58 billion.
The bank said its 2023 targets, including double-digit growth in
revenue and a return on tangible equity--a key profitability
metric--of more than 15%, remain on track.
"I am confident that we will achieve our 2023 targets given the
positive momentum which we also expect to carry into 2024,"
Santander Executive Chair Ana Botin said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 25, 2023 01:24 ET (05:24 GMT)
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Banco Santander (NYSE:SAN)
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から 5 2023 まで 5 2024
