SANTANDER (dpa-AFX) - Banco Santander S.A. (BNC.L, BSBR, SAN) reported that its first-quarter attributable profit was 1.840 billion euros, down 10% year-on-year or down 8% in constant euros after the Group incurred a net charge of 108 million euros relating to asset sales and restructuring.
The charge reflected a 150 million euros gain from the sale of 51% of the Group's stake in Prisma in Argentina, offset by a 180 million euros loss from the sale of a portfolio of residential properties in Spain and a 78 million euros charge relating to restructuring costs in the UK and Poland.
Underlying profit fell by 2% year-on-year in constant euros to 1.948 million euros, while profit before tax increased by 3%, also in constant euros.
Total income declined 1 percent to 12.09 billion euros from the prior year.
The company said it is confident it will achieve its medium-term targets, including a RoTE of 13 percent-15 percent.
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