SANTANDER (dpa-AFX) - Banco Santander S.A. (BNC.L, BSBR, SAN), a Spanish financial company, on Wednesday registered a rise in earnings for the first-half, helped by increased net interest income in all segments.
In addition, the company has revised up its revenue guidance.
For the six-month period, the lender reported a net profit of 6.059 billion euros, up 16 percent from the same period last year.
Income per share was 0.37 euro, up 19 percent from previous year.
Profit before tax improved by 14 percent to 9.508 billion euros from last year.
Net interest income grew 12 percent year-on-year to 23.457 billion, driven by growth in all businesses, particularly in Retail, CIB, and Wealth.
Net loan-loss provisions were negative 6.243 billion euros, up 8 percent from a year ago.
Operating income rose by 15 percent to 18.137 billion euros, year-on-year basis.
Net fee income increased with year-on-year growth of 6 percent to 6.477 billion.
In the first half, customer funds, that include deposits and mutual funds, grew 5 percent, with deposits up 2 percent, supported by strong growth in time deposits of 12 percent, as well as the ongoing increase in customer numbers.
Total loans grew 2 percent to 1.03 trillion euros, as growth in Consumer, CIB, Wealth and Payments offset a small decrease in Retail.
Total income was at 31.050 billion euros, up 10 percent from previous year.
Looking ahead, for the full year, the Group now expects high-single digit revenue growth against its previous target of mid-single digit growth.
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