Banco Santander achieved an underlying profit of €1,908 million in the first half of 2020, down 48%, due to an increase in loan-loss provisions attributable to the covid-19 pandemic. While the pandemic has had a significant impact on customer activity, the underlying performance of the business was strong, supported by resilient customer revenues, higher than expected cost reductions, robust credit quality and good organic capital generation.

Today, Santander, Bradesco and Itaú Unibanco, Brazil's three largest private banks, announced a comprehensive plan aimed at effectively driving sustainable development of the Amazon. The plan includes ten measures targeting the three areas considered the top priority for the region: environmental conservation and the development of a bioeconomy; investment in sustainable infrastructure; and the guarantee of basic human rights in the Amazon.