MADRID: Spain’s Banco Santander , the eurozone's biggest bank, posted a near 5% fall in first-quarter net profit, hit by a deepening recession in Brazil, but beat analysts’ forecasts and boosted its capital ratio.
The bank makes about a fifth of its profit in Brazil, its second-biggest market, and a falling currency there and in Britain, its biggest market, hurt earnings once converted into euros.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!