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3Q12:Santander registered attributable net profit of EUR 1.804 billion, after covering more than 90% of real estate provisions required by the latest Spanish regulations
Grupo Santander registered net attributable profit of EUR 1,804 million in the first nine months of 2012, a decline of 66% from the same period last year. The group posted ordinary profit of EUR 4,250 million and registered capital gains of EUR 1,029 million from the sale of the business in Colombia and the reinsurance transaction covering the life insurance portfolio in Spain and Portugal. That would have resulted in profit of EUR 5,279 million in the period, but, after setting aside EUR 3,475 million for real estate exposure in Spain, net profit was EUR 1,804 million.
VIDEO NEWS:
Santander's 3Q2012 Results
Alfredo Sáenz during the presentation of the third quarter 2012 results.
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