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SAN share (Madrid) Negativo_GB 4.003 | -1.03% | 17:35

Santander attributable profit up 4% in the first half of 2018 to 3,752 million euros, after 300 million euros integration charge


Banco Santander, S.A. (“Santander”) increased attributable profit in the first half of 2018 to €3,752 million, 4% higher than the same period of last year after a €300 million net charge primarily related to integration costs for Banco Popular.  At the time of the Popular acquisition, on June 7th 2017, the Group said it expected to register €300 million in integration costs per year until 2019. On an underlying basis (i.e. excluding the integration charge), profit increased by 25% YoY in constant euros to €4,052 million.  This was driven by an increase in customer revenues (+10% in constant euros). The number of loyal customers (people who see Santander as their main bank) increased by 17% to 19 million. Lending and customer funds increased by 2% and 6% respectively in constant euros.