Santander Reports Record €10.3 Billion Profit Amid Rising Client Base

Banco Santander achieved a record profit of €10.3 billion in the first nine months of the year, reflecting an 11% increase and a growing client base amid pressure on interest margins.

• In the first nine months of 2023, Banco Santander reported a profit of €10.337 billion, marking an 11% increase compared to the same period in 2022.
• The banks client base expanded by seven million to a total of 178 million, despite a 1% reduction in operational costs during the reporting period.
• Despite decreasing interest margins, the robust growth in earnings highlights Banco Santanders resilience in the competitive banking sector based in Santander, Spain.