Spanish banking group Banco Santander has reported an attributable profit of EUR1.63bn for the first quarter of 2016, down 4.9% from EUR1.71bn a year ago.
Net interest income was EUR7.62bn, a fall of 5.2% from EUR8.04bn in the first quarter of 2015. While net operating income dropped 8.1% to EUR5.57bn from EUR6.06bn in the prior year.
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The bank’s retail banking arm posted an attributable profit of EUR1.55bn in the first quarter, a fall of 7% compared to the first quarter of 2015. The unit’s net interest income for the quarter stood at EUR7.15bn, while net operating income was EUR5.06bn.
During the quarter, the bank’s global corporate banking unit posted an attributable profit of EUR454m, a rise of 8% from a year ago. The unit’s net interest income was EUR650m, while its net operating income stood at EUR917m.
Banco Santander Group executive chairman Ana Botín said: "Our Q1 results are ahead of plan and we continue to deliver on all our commitments. Both revenues and customer lending grew at 4% year?on?year (excluding FX). NPLs performance improves, CET1 increases by 22 bps to 10.27% and RoTE reaches 11.1%.
"These results give us confidence that we will continue to deliver, including, as we announced, increasing the cash dividend per share by 10% and total dividend by 5%."
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