Santander got a Attributed profit of 9,309 million euros during the first nine months of 2024, 14% more compared to the same period of the previous year and a new record for the financial group, thanks to the strong growth in revenues in all activities and regions of the world, as reported this Tuesday by the National Securities Market Commission securities (CNMV).
In the third quarter, it recorded a profit of 3,250 million euros, or 12% more than over the same period in 2023.
On the other hand, the gross margin increased by 7% over the first nine months of the year, to 46.185 million euros. Santander explains, on the one hand, that the increase in customer activity and the “good” management of margins supported an increase of 8% in net interest income, to 26,923 million euros, with increases in all professions and regions, particularly “retail”. .
Indeed, the bank indicates that the interest margin for individuals increased by 9% in constant euros, with a “good” evolution in the three regions thanks to margin management in Europe, higher volumes in North America and lower deposit costs in South America.
THE commission income increased one 5%to the tune of 9.666 million euros. In constant euros, they increased by 6% due to stronger activity across all global activities.
The president of Banco Santander, Ana Botinhighlighted the “strong and profitable” growth and the 19% rise in earnings per share. “Interest margin and fee income are increasing, credit quality is strong and the transformation allows us to increase income well above costs,” he stressed.
He thus praised the diversification of the bank by profession and by country, which made it possible, for example, to increase revenues from retail and consumer banking by 8% and to reduce costs by 1%. , in constant euros. These two companies represent more than 70% of Santander. “In an increasingly volatile geopolitical environment, we are convinced that we will continue this strong dynamic both for the rest of the year and in 2025, meet all our objectives“, he concluded.
