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Spain’s Santander Q1 profit rises 58% compared to same period a year ago -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : This is the logo for Spain’s Santander unit (Santander Bank Polska). It was taken in Warsaw, Poland on May 10, 2021. REUTERS/Kacper Pempel/File Photo

MADRID (Reuters – Spain’s Santander said Tuesday its first quarter net profit increased 58% compared the year before due to a stronger performance in South America and a recovering Europe.

After a loss of 1.608 billion euro last year, the Euro zone’s second-largest lender by market value recorded a net profit at 2.54 billion euros ($2.72billion). This is an increase of earnings of 1.608 billion.

Analysts polled for Reuters predicted Santander would post a net profit in excess of 2.26 billion Euros.

($1 = 0.8282 euros)

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