According to SAPO news, Spanish group Santander had profits of 5,241 million euros in the first half of this year, 7% more than in the same period of 2022, the bank announced on Wednesday 26 July, attributing these results "to strong revenue growth, especially in Europe."
The group's revenues increased by 13% in the first half of the year to 28,234 million euros and grew in all regions where the bank operates. In a period of rising interest rates, the overall volume of loans granted by Santander "remained stable" in this period, with the bank highlighting the 6% growth in consumer credits.
However, in Europe, the credit granted by the bank fell by 5%, "due to lower demand and repayments", with Santander highlighting the fall of 6% in Spain and 4% in the United Kingdom.
Overall, Santander's profits in Europe reached 2,536 million euros in the first half, 40% more than in the same months of 2022, "thanks to strong profit growth in Spain, the United Kingdom, Portugal and Poland." Europe contributed 43% to the group's overall results.
Last year, the Spanish group Santander had profits of 9,605 million euros, a record amount that represented an increase of 18% compared to 2021.