Santander: 9m NP up 11%
(CercleFinance.com) - Santander has announced 9m 2023 net income, group share of E8.
14bn, up 11% y-o-y, including a 20% increase to E2.9bn in Q3 alone.
For the first nine months of the year, the Spanish bank says that strong revenue growth - particularly in Europe and Mexico - offset the expected y-o-y increase in provisions.
Santander says that it is on track to reach its 2023 targets, which include double-digit revenue growth, RoTE of over 15%, a cost/income ratio of 44%-45%, a fully loaded CET1 of over 12% and cost of risk that is below 1.2%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
14bn, up 11% y-o-y, including a 20% increase to E2.9bn in Q3 alone.
For the first nine months of the year, the Spanish bank says that strong revenue growth - particularly in Europe and Mexico - offset the expected y-o-y increase in provisions.
Santander says that it is on track to reach its 2023 targets, which include double-digit revenue growth, RoTE of over 15%, a cost/income ratio of 44%-45%, a fully loaded CET1 of over 12% and cost of risk that is below 1.2%.
Copyright (c) 2023 CercleFinance.com. All rights reserved.