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.
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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.
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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."
