Spain's Santander reported robust second quarter results on Wednesday as a strong performance in Spain and other European countries offset weakness in Brazil.
FILE PHOTO-A Santander company logo is pictured at the company's headquarters in Boadilla del Monte, outside Madrid, Spain, February 2, 2023. REUTERS/Violeta Santos Moura/File PhotoNet interest income up 12.4% q/q in Q2, beats estimatesMADRID, July 26 - Spain's Santander
Net profit topped the 2.54 billion euros expected by analysts, despite a rise 10% in provisions to 2.898 billion euros, slightly lower than expected by the market.The bank reiterated its return-on-equity ratio target of more than 15% by the end of 2023 after finishing the second quarter with ratio of 14.61%.
The bank's overall underlying net interest income, earnings on loans minus deposit costs, rose 12.4% to 10.74 billion euros, above analysts' estimates of 10.45 billion euros.
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