Spanish banking group Santander reports 11% Q1 net profit increase to €2.852bn, driven by global net interest income growth.
Spanish banking group Santander reported a 11% increase in its first-quarter net profit, reaching €2.852 billion ($3.05 billion) in 2024, driven by strong growth in net interest income across all global regions. The bank's solid European retail unit and good cost control offset the expected year-on-year growth in provisions. Santander is on track to meet its 2024 targets, including a return on tangible equity of 16%.
April 30, 2024
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