Banco Santander Q1 Profit Down; Net Interest Income Rises - Quick Facts

(RTTNews) - Banco Santander (BNC.L, BSBR, SAN) reported Wednesday that its first-quarter attributable profit was 1.63 billion euros, 5 percent lower than 1.72 billion euros a year ago. On a currency neutral basis, profit grew 8 percent.

Profit before tax was 2.73 billion euros, down 8.6 percent from 2.99 billion euros a year ago. Net operating income declined 8.1 percent to 5.57 billion euros from 6.07 billion euros last year.

Loan-loss provisions were 2.41 billion euros, down 6 percent from a year ago.

Gross income declined 6.2 percent to 10.73 billion euros from 10.31 billion euros a year ago. On a currency neutral basis, gross income grew 4.1 percent.

Net interest income rose in 9 of 10 core units, driven by larger volumes in loans and deposits.