Banco Santander Posts Rise In Q4 Profit

Spain's

reported a rise in its net profit for the fourth quarter. Banco Santander's quarterly net profit surged to EUR1.46 billion ($1.65 billion), versus a restated EUR864 million, in the year-ago period. Earnings per share rose to 0.112 euro from 0.076 euro. However, analysts were expecting a profit of EUR1.45 billion. Santander's net interest income rose to EUR7.71 billion from EUR6.93 billion, versus estimates of EUR7.6 billion. Gross income surged to 11.040 billion euros versus 10.017 billion euros. Banco Santander shares gained 1.05% to close at $6.76 yesterday.