Santander: stock down after 9m results

(CercleFinance.com) - Santander shares are down over 2% in Madrid today, despite it announcing an 87% leap in 9m 2021 underlying profit to 6.
38 billion euros, its highest level achieved over this period of the year since 2009.

The Spanish bank said its performance was driven by sound volume growth, with loans up 4% and deposits up 6%. Its three regions (Europe, North and South America) all contributed to overall profit.

Management said that it is on track to significantly outperform its 2021 profitability target, while maintaining a fully loaded CET1 ratio at the high end of its 11%-12% target range.


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