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Santander Q1 Net Profit Drops 26%


Banco Santander SA (NYSE: SAN) reported a 26% fall in its net profit in the first quarter.

Santander's quarterly net profit declined to 1.21 billion euros ($1.56 billion), from EUR1.63 billion, in the year-ago period. However, analysts were expecting a profit of EUR1.31 billion.

Its net interest income dropped 14% to EUR6.65 billion from EUR7.76 billion.

Santander shares closed at $7.33 yesterday.

Posted-In: profitEarnings News


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