Banco Santander Q4 Profit Rises 13%
By Gordon Wilcox
February 04, 2010 5:15 AM
February 04, 2010 5:15 AM
Banco Santander (NYSE: STD), the Euro Zone's largest bank, said its fourth-quarter profit rose 13% helped by the performance of the bank's Brazil and U.K. operations. The bank earned $3 billion in the quarter, beating analyst estimates.
Loan-loss provisions rose 18% from the year earlier period, but declined from the third quarter. Santander's profit from its U.K. operations up 55%, while profit in Latin America rose 11%, with the bulk of that contribution from Brazil, according to MarketWatch.
Spain-based listed its Brazilian unit, Banco Santander Brasil (NYSE: BSBR) on the NYSE last year.
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