Santander books record Q3 profit as strong US unit offsets weaker Brazil
Update: 2025-10-29
Description
Santander's Q3 Profit Soars: U.S. Performance Shines, Despite Brazil HiccupsSantander, Spain's largest bank, reported a 7.8% increase in net profit for Q3, reaching €3.5 billion, surpassing expert expectations. This marks the sixth consecutive quarter of record-high profits. The U.S. business led the charge with a 64% profit surge, driven by lending income and corporate/investment banking fees. However, Brazil's currency troubles caused a 5.7% profit dip. Despite a slight lending income decline, Santander offset this with increased fees and revenues, maintaining profitability at 16.2%. Looking ahead, Santander's CEO, Ana Botin, remains optimistic, citing global operations and strong growth in Latin America as key strengths, despite potential economic challenges.
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