Spain’s Santander Q3 profit rises 11% compared to same period a year ago By Reuters

© 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)

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