World Economy

Spain Bank Profit Jumps

Spain Bank Profit JumpsSpain Bank Profit Jumps

Santander has today posted a 32% jump in first-quarter net profit as the eurozone’s biggest bank drew on rising income from lending and fees in key markets such as Britain and Brazil, RTE reported. The Spanish lender makes most of its money outside its home market. During the first quarter, it was also helped by lower charges against bad debts compared to a year ago, and said a weaker euro against the dollar and the pound had boosted earnings. It reported net income of €1.72b ($1.9b) in the three month period, in line with expectations.