Santander: solid Q3 - revenues up 1% at constant currencies

(CercleFinance.com) - Santander recorded revenue of 11.
08 billion euros in Q3, down 11% as reported y-o-y, although up 1% at constant exchange rates.

Net profit reached 1.75 billion euros, up a staggering 249% as reported and even more (+493%) at constant exchange rates compared with Q3 2019 - a difference that is particularly due to various non-cash charges that were applied to FY 2019.

Santander also says that it is ahead of schedule in its cost-cutting schedule and expects to achieve 1 billion euros in savings over the next two years.


Copyright (c) 2020 CercleFinance.com. All rights reserved.