Santander profits jump nearly 40 percent

Santander, the eurozone's biggest bank by market value, said on Thursday its profits jumped by more than a third in the second quarter as its ratio of risky assets eased.

Santander profits jump nearly 40 percent
The president of Santander bank Emilio Botín. Photo: Pierre-Philippe Marcou/AFP

The Spanish banking giant posted a quarterly net profit of €1.45 billion ($1.94 billion), its highest in the past two years and a 38-percent jump compared to the outcome in the same period in 2013.

The group also said its ratio of high-risk loans —mostly bad real estate assets left over from the crash — had been brought down to 5.45 percent.

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