Banco Santander Posts Higher Q3 Profit

Banco Santander SA

reported a 52% rise in its third-quarter net profit. Santander's quarterly net profit surged to EUR1.61 billion ($2.01 billion), versus a year-ago profit of EUR1.06 billion. However, analysts were expecting a net profit of EUR1.51 billion. Santander's net interest income climbed to EUR7.47 billion from EUR6.94 billion, versus analysts' estimates of EUR7.54 billion. Santander shares fell 1.03% to close at $8.68 yesterday.