Banco Santander has reported attributable profit of EUR1.72bn in the first quarter of 2015, a surge of 32% compared to the year ago period.
The bank’s profit was driven by higher fees and stronger lending in the bank’s European consumer finance and Latin American units.
Go deeper with GlobalData
The bank in its earnings statement revealed that its consumer finance business contributed 10% to the total profit.
Net interest income, the profits a retail bank makes on its core lending activities, for the first quarter 2015 increased by 15% in comparison with the previous year, yielding EUR8.04bn.
The Spanish lender recorded a 15% growth in its net operating income which amounted to EUR6.06bn, while net loans to customers were up 14% in the first quarter from the year before.
Banco Santander chairman Ana Botín said: "Santander’s strong increase in lending reflects our commitment to helping our customers grow.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"When we raised capital in January, we said our goal was to target organic growth in our core markets forecast to achieve strong economic recovery."
