Santander reports €3.25bn Q3 net profit, a 12% increase YoY, driven by retail and cost management.
Santander reported a record net profit of €3.25 billion in Q3, a 12% increase from last year, surpassing analysts' expectations. This growth was fueled by robust retail performance and cost management. However, Santander UK's earnings release is postponed due to a court ruling on motor finance commissions, which may require banks to compensate customers without prior consent. Analysts estimate Santander's potential exposure at £1.1 billion, with broader sector implications.
October 29, 2024
44 Articles