Profit rose in the first quarter for Spanish banking and financial services group Banco Santander SA compared to the same period of the previous year.
Banco Santander reported an attributable profit of €2.852 billion ($3.05 billion) in the first quarter of 2024, up 11% in current euros versus the same period last year, as strong growth in net interest income in all the global businesses and regions, supported by growth in customers, and good cost control more than offset the expected year-on-year growth in provisions.
Quarterly earnings per share were €0.17, up 14% from the prior year.
Total income increased 8.1% to €15.05 billion from the previous year.
Santander said it is on track to meet its 2024 targets, which are mid-single digit revenue growth and an efficiency ratio below 43%.
