© Reuters. FILE PHOTO: A man uses an ATM machine at a Santander bank branch in Ronda, Spain, October 25, 2022. REUTERS/Jon Nazca
MADRID (Reuters) – Spain’s Santander (BME:) said on Wednesday its net profit in the third quarter rose 11% compared to the same period a year ago as higher revenues across its markets offset a rise in loan loss provisions and costs.
The euro zone’s second-biggest lender in terms of market value booked a net profit of 2.42 billion euros ($2.41 billion), up from 2.17 billion euros in the same quarter last year.
Analysts polled by Reuters expected Santander to post a net profit of 2.19 billion euros.
($1 = 1.0045 euros)