Banco Santander posted its best ordinary profit for any quarter in almost a decade. From June to September 2019, the Group earned €2,135 million (7% more than in the same period the year before). This shows how robust and recurrent the business is. In the first nine months of 2019, Santander earned an attributable profit of €3,732 million. 
 

The results for Q3 2019 have again shown the solidity of Santander in a highly complex environment. During this period, the bank has managed to increase its number of customers by almost six million, which has led to increases in loans and funds by 4% and 6%, respectively. Accounts also reflect appropriate management of risk and cost control – efficiency is positioned at 46.9% – and return on tangible equity (RoTE) is at a quarterly 12.2%.

Another of the Bank's strengths reflected in these accounts is profit diversification. Europe currently contributes 46% of the Group's ordinary profit; South America, 38%; and North America, 16%. Brazil is once again the country that contributes the most to the Group's ordinary profit, at 29% of the total (€2,249 million by September), followed by Spain (15%) and Santander Consumer Finance.
 

Acceleration of digital activity is also an essential driver for achieving these profits. The Bank has gained 6.1 million digital customers in the past 12 months, i.e. customers who have accessed the bank via the website or app in the past month. In total, the Group has 36.2 million digital customers, which is 51% of active customers.

“An agile organisation led by a top team will allow us to get the most out of our global presence and our leadership in the countries. I am confident that we will meet our mid-term goals, including an RoTE of between 13% and 15%,” said Santander's Group executive chairman, Ana Botín.