Arab Today, arab today spain\s santander bank reports profit plunge
Last Updated : GMT 12:43:40
Arab Today, arab today
Arab Today, arab today

Spain\'s Santander bank reports profit plunge

Arab Today, arab today

Arab Today, arab today Spain\'s Santander bank reports profit plunge

Madrid - AFP

Spanish banking titan Santander reported on Thursday a third-quarter profit plunge as it wrote down billions of euros in assets linked to a 2008 property market collapse. Santander, the largest bank in the eurozone by market capital, said net profit dived to just 100 million euros ($130 million) in the third quarter from 1.8 billion euros a year earlier. Net banking income rose 2.93 percent to 7.495 billion euros. Investors seemed to take comfort in the cleaner balance sheet, however, sending Santander shares up 0.71 percent to 5.82 euros in early trade on the Madrid stock market. Over the first nine months of this year, the bank said net profit slumped 66 percent to 1.80 billion euros. The results so far this year were hit by the 14.5-billion-euro cost of making provisions against bad loans and against real estate exposure in Spain. If the cost of those provisions is stripped out, Santander said it would have reported a net profit of 18.2 billion euros. \"The bank\'s capacity to generate profit enables us to set aside hefty real estate provisions in Spain in 2012 and significantly increase non-performing loan coverage,\" bank chairman Emilio Botin said in a statement. Santander said 50 percent of the group profit in the first nine months of 2012 came from Latin America and 28 percent from continental Europe, with Spain alone accounting for 16 percent. Britain was responsible for 13 percent of the profit and the United States nine percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain\s santander bank reports profit plunge Arab Today, arab today spain\s santander bank reports profit plunge

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain\s santander bank reports profit plunge Arab Today, arab today spain\s santander bank reports profit plunge

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday