Santander Posts Lower Profit After Increase in Loan-Loss Provisions
By Adria Calatayud
Banco Santander posted a decline in third-quarter net profit after the bank set aside more funds to cover loan losses.
The Spanish bank said Wednesday that it made a third-quarter net profit of 3.43 billion euros ($3.82 billion), down 2% compared with the same period last year. The result was hit by a 22% increase in net loan-loss provisions to 3.49 billion euros.
On an underlying basis, Santander's net profit jumped 19% to 3.85 billion euros, it said. Analysts had forecast the metric at 3.79 billion euros, according to consensus estimates provided by the bank.
Total operating income--the group's top-line figure--grew to 15.89 billion euros from 14.27 billion euros, against consensus expectations of 16.09 billion euros.
Both net interest income--the difference between what banks earn on loans and pay on deposits--and fees contributed to the top-line increase. Santander reported net interest income of 11.83 billion euros, up from 10.35 billion euros, with net fee income rising to 3.5 billion euros from 3.16 billion euros.
Santander reiterated its full-year guidance, saying it is comfortably on track to meet its targets.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
October 28, 2026 02:24 ET (06:24 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
5 Stocks to Buy Trading at Big Discounts
2 Undervalued Stocks to Buy With Long-Term Growth Ahead
The Market May Be Too Pessimistic About This 4-Star Dividend Stock
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
United States